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Signs of inflation are picking up, with a mounting number of consumer-facing companies warning in recent days that supply shortages and logistical logjams may force them to raise prices.
Palm oil fluctuated as investors weighed the bullish impact of the relentless rally in global farm commodities with increasing stockpiles of the tropical oil in second-biggest grower Malaysia.
5/5/2021 5:09:19 AM GMT
When markets start to struggle to move higher on good news, as we saw last week, it usually doesn’t take too long before they rollover and head lower, which appears to be what happened yesterday, though the selloff was predominantly tech driven in nature.
A number of catalysts have been put forward for yesterday’s declines, some more credible than others, with the usual “sell in May and go away” being let out for some air.
The most likely reason for yesterday’s declines was probably nothing more than a bout of profit taking after the lows of last week gave way, in what looks like a classic technical sell-off.