Base metals , the economy, AUDUSD and Trump
14th February 2017
Copper is the only market we cover in the trend table and following a long period of bearish sentiment our signals switched to bullish in the weeks leading up to, and confirmed following the US Election in November.
The other base metals have signalled a similar switch, buyers returning to the market in early 2016, well before Trump was to be reckoned with.
Other barometers of economic activity we look at are lumber and Dow Transports, the latter trading at record high following a sustained rally since 2009.
There is no sign that this demand is about to end and a false reversal for AUDUSD in December looks to be the case when overlayed with Copper.
