Opening Statement from the June 2015 CCPM Forecaster

Opening Statement from the June 2015 CCPM Forecaster

First published on June 1, 2015 for subscribers to the CCPM Forecaster

We see no material changes in the global economy relative to the past few months. Although we do not anticipate the weakness in Europe, Latin America, South Africa, Russia, Australia, Canada and many parts of Asia to subside anytime real soon, we believe many of these economies are likely to show some relative strength in the second half of this year. 

It is not difficult to appreciate the cumulative downward pressure being exerted on commodities as a result of monetary policy and other macroeconomic trends throughout the globe.