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Market Tips: Commodities Downside, Sterling Weakness

CNBC.com
Friday, 2 Jan 2009 | 4:41 AM ET

As 2009 begins, investors are hoping for a broad recovery in the global markets. But experts tell CNBC there could be more downside for commodities and sterling.

Direction of Crude Prices in '09

Oil prices could have fallen to $25 a barrel if not for the OPEC output cuts, says David Ernsberger, editorial director, Asia at Platts. Ernsberger & Daryl Guppy, CEO of Guppytraders.com give their take on oil.

Where is Oil Headed in 2009?

Nymex crude could retest $50 to $70 a barrel towards the end of 2009, predicts Daryl Guppy, CEO of Guppytraders.com. But he tells CNBC that it could test the downside before bouncing back up.

Commodities May See More Downside

There could be further downside to the commodities complex, note Daryl Guppy, CEO of Guppytraders.com and Michael Yoshikami, founder, president & chief investment strategist at YCMNET Advisors.

Sterling May Get "Absolutely Crushed" in '09

The British pound could get "absolutely crushed" this year, says Richard Morrish, head of research at MIG Investments.

Euro Has More Downside Potential

In the next six months, there could be more downside for the euro against the dollar, believes Sharada Selvanathan, currency strategist at BNP Paribas.

Euro-Sterling May Hit Parity Soon

The euro-sterling may hit parity in the next few weeks, says Jeffrey Halley, senior manager of FX trading at Saxo Capital Markets.

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