Barclays: Commodity Supercycle Decline Might Be Finding A Bottom

Many commodities are reaching their cost floor and should be in a bottoming process, a Barclays report notes, as commodities after the supercycle appear to be approaching support levels not seen in 14 years. Relative decline in commodities shows some off 80 percent from supercycle high while other commodities are down only 40 percent The negative correlation between the U.S. dollar, the world reserve currency of choice, and commodities continues, as recently a rising U.S. dollar has been accompanied by falling commodity prices, Kevin Norrish, Barclays commodities research analyst, observed in the report. Some commodities are stretched further from their…