ISM vs Commodity Prices The latest ISM Manufacturing data came in lower than expected. It almost seems like economic momentum in the US is fading.
But on the other hand, commodities that are most sensitive to change in economic momentum, namely copper and crude oil, remain in a sideways consolidation or in the case of crude are already breaking out to new short-term highs.
That price action behavior opens up a gap between both metrics, and one thing is clear.
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