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Copper Poised for FOMC Breakout?
Copper prices are holding around their highest levels in two months ahead of the keenly awaited September FOMC meeting later today. Expectations that the Fed will begin easing this month have helped support copper prices in recent weeks with the futures market gaining more than 6% off the September lows. More recently, the growing expectation of a deeper cut from the Fed has been particularly bullish for copper prices. Last week, market pricing for a deeper .5% cut soared from around 10% to over 60% as traders reacted to dovish headlines in the WSJ and FT. The two publications ran reports citing sources who said that ... (full story)
