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.

Questions? Comments?