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Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below covers… Read more.
Beyond the Spotlight is a weekly video released on Mondays that spotlights two or three markets that may become trading opportunities for the week ahead. This enables you as a subscriber of the Trade Spotlight advisory service to look ahead with us, while potentially creating additional trading opportunities for yourself. The week’s video linked below… Read more.
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The outlook for China seems to have improved enough for them to raise short-term interest rates. In the wake of this general progression, growth-sensitive industrial commodities like crude oil and copper have already benefited.
The early July COT spec and fund net long position reading in 20 non-financial commodities, combined with ongoing strength in the US Dollar and favorable US grain production weather, leaves the path of least resistance in most markets pointing to the downside.
Once again it appears that deflationary sentiment has reached an excess level with respect to physical commodity pricing.
A number of central banks have implemented fresh easing efforts, German and European economic prospects have shown some minor improvement, and the prospect of lingering cheap energy prices is starting to offer global consumers new confidence.
While we think the bear case for the global economy is already overstated, more long liquidation selling in crude oil is possible.