Bank of America are bullish crude over the next month futures contract roll:
overweight Brent, gasoline, gasoil over a one-month horizon
Cite OPEC withholding output
acknowledge mile surplus in global supplythe risk os US hard landing has recededstill concerns over Chinese demand
Over 3 – 6 months BoA see
weakening of global institutions (an upside risk for gold and previous metals)Fed rate cutspotential Middle East escalationaggressive fiscal and monetary stimulus in China
This article was written by Eamonn Sheridan at www.forexlive.com.
