Weekly Market Outlook: Commodity rally stalls

The rally in commodity prices is running out of steam as the market realised that no fundamentals justifies such level. Commodity currencies, such as the Australian dollar, will therefore likely fell the heat over the next weeks as prices stabilise.

Elsewhere, rising oil price is giving some room to Canada and Mexico at the difference that Mexican’s antique infrastructures do not enable the country to fully benefit from the current rebound. On the other side, Canada’s economy is getting better, indeed, last week’s GDP crushed estimates.

Finally, in China, the release of better-than-expected PMIs failed to provide a fresh boost to equity markets as investors take it with a grain of salt.