Hansen: ECB QE - the clues are in commodities

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Hansen: ECB QE - the clues are in commodities

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What clues do the commodity markets offer traders and investors ahead of this week's ECB meeting? Saxo Bank's Head of Commodity Strategy Ole Hansen has been analysing the latest commodity updates to pick out the useful indicators.

Clearly the impact of last week's widely unexpected move by the Swiss National Bank is still being felt and reflected in the long USD positions against all eight IMM currency futures and high levels of EUR short positions. While Gold is heading towards the "major level" at USD 1300.