Commodities Drop Not Due to Dollar Rally
While the drop in oil prices is getting a lot of attention suddenly (down 3.6 percent), note that the entire commodity complex is down:
-copper down 4.0 percent,
-platinum down 5.6 percent,
-cocoa down 6.5 percent,
-soybeans down 4.8 percent.
Energy stocks are down, financials rallying modestly.
While there is modest strength in the dollar, most are not attributing this move down in commodities to a dollar rally.
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