The Bloomberg Commodity Index was up around 0.5% in early morning trading today thanks in part to firmer energy and precious metal prices. Reuters reports that “Oil prices rose on Monday after the United States and China both suggested they could ease up in a trade war that has undermined the outlook for the global economy and crude demand…
U.S. President Donald Trump said on Monday he believed China was seeking a trade deal after he said Beijing contacted U.S. officials overnight to say it wanted a return to talks.” In New York, NYMEX crude oil futures were trading as high as $55 per barrel this morning while COMEX copper futures edged up to around $2.54 per pound after having traded as low as $2.5235/lb. late last week. Stocks were mostly lower in Asian trading this morning although markets were faring better in European trading. In foreign exchange trading, the euro slipped to $1.111 and the British pound was down to around $1.224, while the dollar was buying 105.85 Japanese yen in early trading.
