bullish
The Commodity Report #77
SUMMARY
- Fundamentally speaking, it was nearly a perfect week for commodities as much major news aligned during the week after China eased some Covid restrictions, raising hopes of a demand recovery in the world’s second-biggest economy.
- Almost all major commodities traded higher following China’s move to reduce the time that travelers and close contacts of infected people must spend in quarantine, a significant amendment to the Covid Zero policy.
- China’s loosening of restrictions strengthened a rally that began on Wall Street, with risk assets rising after US inflation slowed.
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