U.S. Dollar Weekly Chart.
Rising commodities prices have been all over the news for several months. The rally has been broad-based and persistent.
So what could possibly derail the commodities rally? U.S. dollar strength.
The dollar has not been so king-like over the past several months, but it is starting to show strength after double-bottoming at (1). And it is now attempting to breakout at (2).
Lumber, precious metals, grains, energy – all types of commodity bulls are watching the U.S. dollar here.
White-hot commodities could really cool off it the U.S. dollar succeeds in breaking out at (2). Stay tuned.
U.S. Dollar Breakout Could Cool Off Commodities Prices
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.