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Can Copper Breakout Higher This Week?

From tickmill.com

Copper prices continue to push higher at the start of the week, The metal is enjoying a mild recovery on the back of recent losses as USD weakness fuels fresh demand. Weaker US inflation and an uptick in Fed easing expectations have combined to weigh on USD currently which is helping keep copper prices supported here. Looking ahead this week, there is plenty of potential for USD to move lower in response to the July FOMC minutes and Fed chairman Powell’s comments at the Jackson Hole Symposium. If these two events are seen as dovish, USD looks vulnerable to a fresh push lower which should help drive the copper ... (full story)

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  • Category: Technical Analysis