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Gold and the US Dollar were trading in tandem, but the data over the past 30 days has shown a shift to a negative correlation. In addition, there are a few currencies making multi-year lows against the US Dollar while yields are continuing to make recent highs. Is the second half of the year better to own Gold?
China consumes 54% of the global Copper Supply. Economic data out of China has been less than desirable, placing a damper on Industrial Metals. They are using lockdowns to combat Inflation vs raising rates.
Turning to Wheat, India was on par to step up with their exports to help cushion the blow from the Ukraine/Russia production issue. Over the weekend they announced that they will not be exporting, causing Wheat ($WEAT) to trade limit up.
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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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