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Strong commodity prices a positive for emerging markets

Updated : December 07, 2020 12:58:20 IST

The market this morning has seen a sharp move up, it has sort of pulled back a little bit.

The reflation trade is well and truly on; equities are up, the dollar is continuously under pressure, things like oil have been moving up - that is clear evidence of expectations of a reflation.

Copper prices also have joined the reflation party. Copper is seen as a lead indicator of which way the economy is going.

Dollar is weak, DXY is around the 90 kind of levels and this traditionally means that everything priced in dollars goes up which is commodities, and it is also positive for emerging markets.

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