Copper prices were seen breaking out to their highest levels in two years today. A combination of a weaker US Dollar and developments within the Chinese macro backdrop have helped fuel a fresh wave of buying. Copper futures are now up around 30% off the YTD lows and look poised for further gains with price now trading at fresh YTD highs. A jump in US jobless claims yesterday has weighed heavily on USD sentiment. On the back of last week’s sorter-than-forecast jobs data and the recent Q1 GDP undershoot, traders are sensing a shift in the strength of the US economy. As a result, pricing for expected US rate cuts has ... (full story)