The rally in the commodity market continues, which will have a negative influence on the value of the dollar, inasmuch as the commodity is quoted in the US currency. Investors are actively buying metals and energy resources. Someone even says that we are now in the first phase of the commodity super-cycle and the growth of quotations may continue for another 6-10 years. I’m not sure about the super-cycle, but I am confident that this year we will see a good rise in commodity prices, insofar as the surplus of dollar liquidity in the financial system will provide good support for commodities.

In the afternoon the ECB will announce its verdict on monetary policy. I do not expect a change in the interest rate this year. Today it will be interesting to listen to Christine Lagarde on the topic of asset repurchases. The rate of asset purchases has decreased in April, and what will the head of the ECB give for May?

Investment idea: Buy 1.2020/1.1990 and take profit 1.2080.