Total economic output is at a century low compared to money supply with no sign of slowing no matter the cause. The worries of a deflationary future will start to set in.
Used a .com bars pattern to project my outlook.
Slower growth paired with your pick of leading indicators show signs of a global economy needing less aluminum. Supply isn’t in a notable shortfall and consumption isn’t strong enough to warrant such high prices.Commodity prices are likely to come under pressure as monetary policy is tightened around the world.
''Considering that gold was set-up for a pullback like a speed bump on the racetrack, with speculative and physical flows slowing, the ongoing pullback likely has more room to run.,'' analysts at TD Securities explained.
New variant is dominant strain in Britain. Likey tamping down any upside potential this summer. With longer restrictions less economic activity. Less reasons to buy sterling. Europe is starting to get more of a grip on their battle with the virus enabling a less weak outlook for the euro.
The New Zealand dollar had performed well against the Euro recently because it is often considered to be a proxy for the Chinese growth. Eurozone weakness may limit any significant reversal if concerns about Chinese growth occurs as the country shifts from export lead growth. The NZD has benefited from the recent Euro-zone difficulties due to idle cash efforts to...