Traders are unwinding spreads and taking profits going into the three-day MLK holiday with the markets closed Monday. Global Commodity Analytics and Consulting President Mike Zuzolo thinks traders will begin to focus on the U.S. economy. “We’re past the USDA report and weekly export sales. Now, President-elect Biden is coming in with a fresh $1.9 trillion stimulus bill. That would take us up near $6 trillion of U.S. fiscal stimulus. That’s inflation to the reflationary trade and that will be a top priority on the macro side.” The dollar is also strengthening on that news.
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