EFTA01449229.pdf

30 July 2013 Exchange Rate Perspectives: FX and the Financial Transaction Tax Commodity Price and Currency Monitor [Figure I: CRB Commodity Prices and components (Figure 2: Energy prices - Raw nosh .t . .0.1P..CalWTI.11111*, r4r1 1300 700 - Foodstuffs 160 Natural Oas Cliforoltu).0101 10 1100 • 000 1410 -— t wove* and 0 ,04Jas.lri,k1 120 12 Fan 0.-.4 01.0, 44 000 "Co 100 — COO Comm...arty Pnce• (n.J. 00 0 700 . 400 50 000 GO 300 20 300 • 200 J n. 45n. st n Jon Jan. Jaw Jaw Jan an Jan- Jan- Jaw 02 03 04 00 Oa 07 013 00 10 11 12 13 100 100 -lamed Jan.°. Jar-Cg. Sane DO IN "navel,. slaw Swat Deursane Sant Have iFigure 3: Precious metals !Figure 1: Industrial metals . ...1.•, ..."1 1.10/11.4.4sitk Jove. — Caw. Prwottitaieve Taw lananwillaan. Terns 2500 0 — — Thw Pricipi1A.1•fl to... — Gob Peke OSA/Troy os) • laneJino) OC•303 d3 Pri[nlottetre Tana 2000 Pitaaurn et. are./ .4 00000 30 13000 —Patadiun 14 ,t 6flor 06 33 40000 1500 — 54141 Price taloa r,fr 0.73 :OW 20 0000 30000 23 1000 4000 Is 44 /, 20000 500 10000 0 0 0 Jan-02 JaN.04 Jaew38 J061-011 J•0-10 Jan-12 Jan-02 Jana Jan08 Ja60111 Jan-10 Jan-12 Sotto, taanani Gan( Haw ! SOWS: Claftuailant Mat iFigure 5: Commodity Currencies and Prices Figure 6: The dollar cycle and global growth cycle I 10 • •••••40.J00,60 0.10 —••••••CAD/uS0 C.0,, 014110 n °ap enIjs Sam 010 -.1) — ....41213/1.150 Conelaiion tront May 2000 a -0.0' •1.3 095 0.10 —CAD IR.' 44 0.06 4.0 093 0.00 4 6 400 005 4.7 350 J.8 300 J le w_0 250 .0.16 Jen-01 Jen-et. Jan-139Jen-93,/on-02 ../an-0 1 Jart4 I 0 '430 00 88 90 92 94 90 90 00 02 04 OG 08 10 12 Savo: dame* Swil. Hoe SOW* 08400.• ant Have Page 34 Deutsche Bank Securities Inc. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0104547 CONFIDENTIAL SDNY_GM_00250731 EFTA01449229