It’s been a challenging year for emerging markets. The hugely popular Vanguard FTSE Emerging Markets ETF (VWO) is down about 1 percent so far in 2013; the iShares MSCI Emerging Markets Index (EEM) has fallen 2.1 percent. Bucking the trend is the PowerShares DWA Emerging Markets Technical Leaders Portfolio (PIE). That ETF is up 14.6 percent during the same period. How is that possible?
Cotton futures already headed for their biggest monthly drop since September will fall further to the lowest price since late January, according to technical analysis by Michael T. Sweeney at broker Marex Spectron.
Hindalco Industries Ltd., India’s second-largest copper producer, is benefiting from the shortage in the market caused by the closing of its bigger rival’s smelter, said two people familiar with the situation.
Gold futures in Mumbai are poised to extend declines to the lowest level since August 2011 as a falling trend channel signals further losses, according to a technical analysis by Motilal Oswal Commodity Broker Pvt.