U.S. Dollar Breakout Could Cool Off Commodities Prices
Chris Kimble | Jun 18, 2021 04:42PM ET
Rising commodities prices have been all over the news for several months. The rally has been broad-based and persistent.
So what could possibly derail the commodities rally? U.S. dollar strength.
The dollar has not been so king-like over the past several months, but it is starting to show strength after double-bottoming at (1). And it is now attempting to breakout at (2).
Lumber, precious metals, grains, energy – all types of commodity bulls are watching the U.S. dollar here.
White-hot commodities could really cool off it the U.S. dollar succeeds in breaking out at (2). Stay tuned.
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