EFTA01449330.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 - flaw naularet • •0•11.1PC•lienTI. flt•IVra 1330 700 . .F000sculls ISO Natural Garb C1/01nrittukf• lel 10 - Paw* 1100 000 140 — twos!** an4 4,04Jas:144.1 120 12 son on4 0..1444 000 "Co 100 —CND Cownonnv Pnoon On* 00 0 330 J AVAW . 400 eo COO hr e 20 393 • 200 J n. Jon bn Jon Jan. Jon. Jon. Jon. an Jon- Jon- Jon. 02 03 04 00 OD 07 00 OD 10 11 12 13 100 100 -lamed Jon.04 Sane DO IN "eleven. riewre Sant Deuntnetlant Haw iFigure 3: Precious metals !Figure 1: Industrial metals - 44••••••1" RICO MANI* TC•••••1 - Capon Prwollitaoto Tan 1.sall.nnillAsube Toro* 2503 a — - DI* Pecoil•Uon to... — Gob Peke 0.043/544 os) 10000 • •••••••• HUSH Pres IlAtolitic Tan. Mho) 05003 d3 Tr•P•K•ilf.fetre Tana e•-•• 2000 Pusum Mc. drew .4 00300 30 0000 --.Potodiwn 9 14 / 4 Ifflor 46 33 40000 1500 - hke WIroy 42.4531 20 4000 30000 23 1000 .01 4930 16 44 /, 20000 500 10000 0 0 0 Jon-02 JAA.04 44608 J061.012 Jan.10 Jon.02 Jona Ja.oei Jona Jeo-10 Jan-12 Jen.12 Swap Daaraa%. aro Haw ! Sewer Oat** Sint Maw iFigure 5: Commodity Currencies and Prices Figure 6: The dollar cycle and global growth cycle I 10 0.10 •—••••••CAD/uS0 CO,, 01,1ion oleo soles own 814 - -0 — ....412134.150 0.10 Conelaiion 1.001 May 3000 -0.0' a.3 095 —CAD 190 44 0.06 3.0 0013 0.00 4 6 400 065 4.7 350 .1 Et 300 J 0 250 .0.16 Jan-01 439-05 Jan-139409-93409-07 ../an-01 Janet I . 1Ci 0 96 88 90 92 94 90 90 00 02 04 06 08 10 12 Snot dascit• Swil. Hoe Sara 0•40.• ant Have Page 34 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 104690 CONFIDENTIAL SDNY_GM_00250874 EFTA01449330