INTERNATIONAL. The first few days of April have seen a sharp dollar rally and decline in gold. This is rooted in deflated expectations of a third round of Quantitative Easing. Once again, the markets are responding to the headlines while losing sight of the fundamentals.
SAUDI ARABIA. The combination of accelerating US supply, weaker than expected global demand, stabilization in geopolitics, and an appreciation of the dollar, led to oil prices dropping to an average of US$102 per barrel, according to the latest Jadwa Investment Global Oil Market Update.