The commodity complex strikes back!
Something, maybe the unexpectedly sharp rise in November producer prices, has pushed up fears of inflation, with oil futures for delivery in January rose $1.31 to $70.82 per barrel this morning, breaking a 9-day declining streak, while gold futures for delivery in January rose $3.20 to $1,126.60 an ounce.
Interestingly, the U.S. dollar index futures is holding its own, up 0.6% at 77.20. The dollar earlier this morning hit a two-month high against the Euro at $1.4551, Bloomberg notes.
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