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China Concerns And US Rates Outlook Weighing on Copper
Copper prices are under pressure at the start of the week with futures currently down around 1.75% from last week’s highs. The move is likely partly due to position squaring ahead of a slew of key US economic data this week. Durable goods, GDP and core PCE are all on deck this week. On the back of last week’s FOMC minutes, traders are fearful of a fresh move higher in USD this week should data come in on the strong side. The minutes last week showed policy-makers agreeing that they needed to be cautious in actioning rate cuts, needing to see further signs that inflation is moving sustainably back to target. Core ... (full story)
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- Posted: Feb 26, 2024 11:49pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 312
