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Daniel Lacalle, chief economist and investment manager at Tressis Gestion, highlights that the Bloomberg commodity index has moved from a phase of consolidation to a bearish trend.
This observation indicates a downturn in commodity prices tracked by the index.
Lacalle has recently commented on other key economic indicators from major economies. He reported that U.S. consumer confidence and Federal Reserve activity indexes have surpassed market estimates. In a separate update, he noted that China's factory output outpaced forecasts in May according to a private survey. These observations provide context to his analysis of the current downturn in the commodity index.