RE:RE:rate hike If the Fed is dangling a rate hike in Sept then the USD should be going up and sending commodities down. Commodities are priced in USD so they should go up then the USD goes down unless external factors are also in play (ie too much copper on the market)
Montrealcopper wrote: i wrote this 8 days ago, i knew fed was coming after us, we will have couple of more bad days and rally will start again, this was expected......
Montrealcopper wrote: usd went down so badly, the data is no longer supporting rate hike, but in order to control gold and commodity from soaring Fed wants to use a speculative approach, they kind of succeeded today to make market retrace back bit, NY fed chief commented that an interest rate hike is september is possible, so we will see how Market will behave on that news.
Data is too far south but they will speculate sure to try to have commodity down