Two commodities could be the best exposure to reopening global economy, trader says

Two commodities could be the best exposure to reopening global economy, trader says

It's been more than a year since the WHO declared the Covid crisis a pandemic, and the world's two largest economies are well on the road to recovery.

China, the second-largest economy, is expected to post 8.4% annualized GDP growth in 2021, according to FactSet estimates, rebounding from its slower 2.3% increase in 2020. The U.S., the biggest economy, is slated to grow 4.8% this year after its contraction last year. Both used monetary and fiscal stimulus to counter slower economic activity.

Danielle Shay, director of options at Simpler Trading, is looking to the commodities market to ride global economic growth and as protection against rising rates.

"You have governments around the world that are printing money, it's not just in the U.S., and when you look at the inflation that is going to come, especially if you look at copper and oil as well, these can be really good hedges against inflation, and they're also going to perform well in a reopening economy," Shay told CNBC's "Trading Nation" on Thursday.

Copper has risen 68% in the past 12 months, hitting a nearly 10-year high in late February. Oil has also been on a tear, up 110% in a year.

"You've got copper doing well