bullish
Commodity and FX Impulse Moves
SUMMARY
- We review some charts, starting with commodities that are precariously close to signalling a breakdown.
- The weakness became pronounced after China's PPI, CPI, and the disappointing Aggregate Finance data (this needs a separate section).
- If China's recovery continues to be disappointing, then the deflation of exports and a long position on commodities will be a big problem for the rest of the world.
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