-
Copper heads lower ahead of Fed meeting, as inventories build
Copper prices extended losses on Tuesday on concern ahead of a U.S. Federal Reserve meeting that prolonged high interest rates will dampen metals demand and as inventories pile up. Three-month copper on the London Metal Exchange was down 1% at $8,278 per metric ton by 1000 GMT, after a 0.6% decline in the previous session. While the U.S. Fed is not expected to raise rates on Wednesday, the prospect of holding them at high levels to crush inflation has caused uncertainty in financial markets. “We’re expecting higher rates for longer because the strength of economic data is largely supportive and while inflation is ... (full story)
- Comments
- Subscribe
-
- Older Stories
From midastouch-consulting.com|Sep 19, 2023In late April, we timely warned about a topping process in the gold market and expected prices to pull back towards USD 1,900 over the following weeks. On June 29th, with gold ...
From blog.hycmlab.com|Sep 19, 2023Heading into Wednesday’s Federal Reserve meeting, short-term interest rate markets expect no change from the current level of 5.375%. So, the question is going to be if the Fed ...
From @DailyFXTeam|Sep 19, 2023|4 commentstweet: US Treasury Secretary Yellen: We're really on a good path toward a soft landing tweet:
*YELLEN: COULD BE CHINA SPILLOVERS FOR US, WOULD BE SMALL 
*YELLEN: GLOBAL ECONOMY IS PROVING MORE RESILIENT THAN EXPECTED tweet: US Treasury Secretary Yellen says gas prices have risen after Saudi oil cuts, not desirable; tight policy is bringing down inflation in many developing countries
-
- Newer Stories
From bnnbloomberg.ca|Sep 19, 2023A Sudanese gold mining company linked to the Russian mercenary Wagner Group has suspended operations because of conflict in the North African nation. Al-Sawlaj Gold Mining Co. has ...
From bnnbloomberg.ca|Sep 19, 2023New US home construction dropped in August to the lowest level since June 2020, highlighting the toll of declining housing affordability. Residential starts decreased 11.3% last ...
From cnbc.com|Sep 19, 2023The United Auto Workers union will announce additional strikes at General Motors , Ford Motor and Stellantis plants if the sides don’t make “serious progress” in negotiations by ...
- Story Stats
- Posted: Sep 19, 2023 10:19am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 78
- Linked events:
