Commodity pices are crumbling this morning as more jawboning of a "big cut" from The ECB [4] has sparked further EUR weakness and thus USD strength (EURUSD 1.0740). WTI's morning bounce (after flash-crashing at the Asia open) has been erased and new lows are looming. Silver is back at a $14 handle and Gold is holding below $1100.
A consensus is forming at the European Central Bank to take the interest rate it charges banks to park money deeper into negative territory in December [4], four governing council members said..
And this happened...
[5]
Which triggered this...
[6]
[7]
Charts: Bloomberg
