Trade War Ceasefire

The yuan-gold "peg" works in our favor for once.

41
Mon, Dec 3, 2018 - 9:44am

News over the weekend pointed to a rally today in the precious metals and commodities...though it took a while for it to kick in.

Of course, the source of this rally is the "ceasefire" in the Trade War announced by Trump and Xi back on Saturday. This sent the yuan surging from the open on Sunday with a move of nearly 1% versus the Pig. The rally ebbed and flowed a little but, as I type, it's near its high of the day. See the charts below. (Remember, when viewed this way, a falling value is reflective of a strengthening.)...

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