FX Intervention Threat Turns up a Notch and Commodities Shine Ahead of PCE
Sticking with commodities, cocoa has been performing better than cryptocurrencies and Nvidia this year. This is because there have been supply issues which have caused the price of cocoa to rise. In themarket, storage data shows that there is an increase in stock levels. As a result, some traders and funds are selling and taking profit as the month and the quarter comes to a close. Lastly, OPEC has confirmed that the group will not alter output levels in Q2 and will reassess in June.
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