The global decline in crude oil prices is beginning to reveal consequences around the globe far beyond the Russian ruble’s historic collapse last week. The magnitude of cheaper oil is beginning to rock the world’s emerging markets in two very different ways depending on whether nations are commodity producers or commodity importers. The fact that the global economy is teetering on the verge of a widespread slowdown – or worse – could magnify the effect of the ruble’s collapse on emerging markets and the bonds they issue.
TRADING STRATEGY :
BUY GOLD ABOVE 1179.75 TARGET 1184.75 1190.75 SL 1173.75
SELL GOLD BELOW 1175 TARGET 1170 1164 SL 1181
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