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Copper On Watch into FOMC
Copper prices are on watch today heading into the December FOMC meeting. The market has suffered six consecutive days of decline but is trading tentatively in the green for now ahead of the meeting. The Fed is widely expected to cut rates by a further .25% today, while signalling a lower projected pace of tightening next year, given sticky inflation and resilient labour market conditions. The reaction to this message, if delivered, should see USD trading higher, putting downward pressure on copper prices and the broader commodities complex. Alongside less-dovish Fed expectations, copper prices have also been weighed ... (full story)
