financialsense.com / FS STAFF / 11/14/2016
With the outcome of the election now clear, and the anticipated selloff on president-elect Donald Trump’s victory not materializing, Kurt Kallaus, author of ExecSpec, says to watch the commodities complex as an important leading indicator for global markets.
Massive Copper Breakout
We’ve seen PMI numbers rise sharply in October in both Europe and the U.S., and there’s been growth in industrial orders and materials prices. Because of this, some analysts believe that we may be seeing a turning point in the global economy.
One commodity that may be signaling such a turn is copper, sometimes referred to as “Doctor Copper,” which, as Investopedia puts it is “Market lingo for the base metal that is reputed to have a Ph.D. in economics because of its ability to predict turning points in the global economy.”
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