Slightly wetter forecasts and profit taking have pushed the market down on Friday. A Norwegian trader argued this morning that the market is very much driven by fundamentals now, and that more bears have entered the market due to a more uncertain weather situation. – But the bears need much assistance from the weather to turn the trend, he said.
Some 200% of normal precipitation is expected this weekend, and the Norwegian trader said that the market is very much driven by weather psychology. – It is very fundamental now, and tiny changes to the weather forecasts spark reactions in the market. Today’s movements reflect slightly wetter forecasts, and we may enter a period of higher volatility, as weather conditions are more u
Freitag, 30.08.2002, 12:00 Uhr
Olav Vilnes
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