One of the best trades of this decade will be copper or copper miners with deep inventories. It’s well understood, right down to the government level, that we’re going to need a lot of copper in the green transition and that existing mines aren’t enough. At the same time, investors are unwilling to fund new
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WTI crude oil settled up $3.25 today to $86.79 on the day. That’s higher than last week’s close at $85.98 and represents an impressive turnaround from $81.20 at yesterday’s low. The market is struggling to price in tight global supplies against worries of falling future demand. There are also uncertainties about how much natural gas-to-oil
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German DAX futures flat UK FTSE futures +0.2% That follows the more modest showing yesterday in European equities, though I would expect some light optimism as we get to the open later in the day. US futures are holding higher, with S&P 500 futures seen up 0.2% currently and that comes after a positive session
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The EURUSD moved lower on the news that the ECB would likely consider 75 bps at the October meeting. That meeting is still a ways away, but the “sources” comments highlighted that possibility. The 200 and 100 hour MAs were broken in the process (green and blue lines). However, after bouncing higher and stalling at
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Despite the ongoing crypto winter, global trust in crypto remains unshakable, with countries like the US showing more trust in crypto in the second quarter. In a new survey from Bitstamp exchange which included 28,000 retail and institutional investors from 23 countries, the proportion of retail investors worldwide who believe cryptocurrencies are trustworthy decreased slightly
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