Commodities Surging, Dollar Dropping Wednesday

April 20th, 2011
in econ_news

Econintersect:  Many commodities are up sharply Wednesday April 20, 2011.  Not surprisingly, the U.S. dollar is down significantly against several major currencies.  Metals, oil and sugar have the largest commodity price gains, all more than 2% for the day when prices were checked at 3:40 pm EST on GEI Live Market.

Follow up:

Some of the biggest changes for commodities are palladium (+3.6%), WTI crude oil and sugar (+2.9%), silver (+2.8%) and copper (+2.4%).  Not all commodities are up, however.  A few are down and two dramatically so:  corn (-2.5%) and cotton (-2.3%).

Part of the increases in commodities can be explained by a decline in the dollar.  Against the Australian dollar the USD is down 1.4%.  The dollar is also down against the Euro by 1.2% and the UK pound by 0.6%.  The only gain vs. a major currency is +0.2% against the yen.  All currency prices taken at 3:40 pm EST from GEI Live Market.  

Source:  GEI Live Market 

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