5 Commodity ETFs To Watch When PPI Inflation Data Drops Wednesday
Portfolio Pulse from Piero Cingari
The Producer Price Index (PPI) inflation data for May is set to be released on June 14, with economists forecasting a decrease to as low as 1.5%. This could provide evidence of a disinflationary trend, potentially impacting future interest rate increases. Commodity ETFs to watch include GSG, DBA, USO, DBB, and GLTR.
June 13, 2023 | 6:16 pm
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NEGATIVE IMPACT
The Invesco DB Agriculture Fund (DBA) eased 2.3% last month and is 7% higher year-to-date.
The PPI inflation data could indicate a disinflationary trend, which may negatively impact commodity prices. DBA, which invests in a basket of agricultural commodities, could be affected by this trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Invesco DB Base Metals Fund (DBB) tumbled 7% last month and is 5.9% weaker year-to-date.
The PPI inflation data could indicate a disinflationary trend, which may negatively impact commodity prices. DBB, which invests in a basket of industrial metals, could be affected by this trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Aberdeen Physical Precious Metals Basket Shares ETF (GLTR) fell 3.5% last month and is 0.9% up year-to-date.
The PPI inflation data could indicate a disinflationary trend, which may negatively impact commodity prices. GLTR, which provides exposure to a basket of precious metals, could be affected by this trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares S&P GSCI Commodity-Indexed Trust (GSG) fell nearly 4% in May and is 6% down year-to-date.
The PPI inflation data could indicate a disinflationary trend, which may negatively impact commodity prices. GSG, which provides broad exposure to a diversified basket of commodities, could be affected by this trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The United States Oil Fund (USO) plummeted more than 10% last month and is 8.3% lower year-to-date.
The PPI inflation data could indicate a disinflationary trend, which may negatively impact commodity prices. USO, which invests in contracts on WTI crude oil and other oil-related derivatives, could be affected by this trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100