With the USD spiking as the Euro is trashed, commodities are not too happy. Crude is trading below $88 and natural gas continues to be weak.
Yet gold and silver are managing to stay positive as the “fear” trade has finally kicked in for these metals.
Some of the benefits of the sell-off may be seen as economic tailwinds as the lower cost for food and fuel could find its way into consumers pockets – ready to spend. Even so, the psychological pounding that consumers take when markets drop offset most of this.