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Commodity Prices Retreat
This week, however, most commodity prices have dropped sharply as concerns about demand from China. The country’s government has embraced Covid-zero strategy that aims to end the virus completely. As a result, officials have ordered a lockdown in Shanghai, one of the biggest cities in the country. The biggest catalyst for the pair on Tuesday will be the latest US consumer confidence data. This is usually an important figure considering that consumer spending is usually the most important part of the American economy.
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