As we have been writing recently the focus of late has been on the US dollar. The past week or so has seen a bit of dollar strength but as of early trading this morning, dollar weakness is back on the table following the G20 meeting. This has led to the dollar resuming the long term downtrend and commodities pushing higher once again.
In early trading the metals have pushed higher again with Gold up over 1% already this morning and Copper pushing back up to 27 month highs. Grains have also strengthened as have soft commodities.
This week’s financial spread betting update begins with:
Stocks have continued to move higher as have commodities overall. The dollar has also moved higher against most of the majors although not yet in a convincing manner. Some big moves have been seen in commodities with soft markets and grains moving higher but metals showing signs of weakness. Moving ahead the focus will remain on the dollar with stocks and commodities likely to invert any large dollar moves…..
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