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Goldman Hails Global Rebound as Currie Sees Commodity Demand

  • ‘We’re seeing a cyclical uptick in global economic activity’
  • Impact of China’s stimulus to last into this half, Currie says
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Goldman Sachs' Currie: See Oil at $55 a Barrel in 2H

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Commodities will be supported in the months ahead by a global rebound spanning the U.S., Europe and China that’s buttressing worldwide demand for raw materials, according to Goldman Sachs Group Inc.

“We’re seeing a cyclical uptick in global economic activity and that’s driving demand, not only for oil but all commodities,” Jeffrey Currie, head of commodities research, said in Hong Kong on Tuesday. “That’s the core reason why we upgraded our outlook on commodities to overweight,” he said, referring to the bank’s November decision.