Markets

Commodities: Crude Oil, Gold Look to US House Vote for Direction

Crude oil and gold may rise as the US House of Representatives votes to suspend the "debt ceiling" through mid-May but follow-through is likely to be limited.

Talking Points

  • Commodities Tread Water as Markets Wait US House Vote on Debt Ceiling
  • Risk Appetite Boost from Fading US "Default" Fears May Prove Fleeting

Commodities are treading water in early trade, reflecting standstill on the risk sentiment front ahead of a vote in the US House of Representatives to suspect the federal spending limit (the so-called "debt ceiling") until the May 19. This would allow the US Treasury to continue to borrow at whatever pace necessary to accommodate its liabilities until that time. The newswires report that the move is intended to refocus the debate in Washington, DC on the "sequester" spending cuts initially intended to trigger with the "fiscal cliff" in January and pushed out until March 1.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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