Copper, the ubiquitous industrial metal, is considered an economic indicator in and of itself. In fact, its price is one of the 84 inputs to our macro index.
The chart below reflects why it is presently lowering our index’s overall score. And, as you might imagine, the primary issue is the threat of a trade war.
Copper’s reaction speaks volumes about how potentially dangerous this game can be!
From Bespoke Investment Group’s weekly report:
“Copper has also sold off quite sharply, and tariff impact is clearly visible.”
