Copper slides to two-week low, focus on Powell’s speech | Metals Mine

  • Copper slides to two-week low, focus on Powell’s speech

    From brecorder.com

    Copper prices slipped on Wednesday to their lowest in nearly two weeks as funds sold, while consumers and producers were sidelined ahead of a speech by U.S. Federal Reserve Chair Jerome Powell later this week, metal traders said. Commodity and financial markets will be looking for clues in Powell’s speech on Friday as to whether U.S. interest rates will be cut by 25 basis points as expected at the Fed’s September 16-17 meeting, which could undermine the dollar. A lower U.S. currency could help boost demand for dollar-priced metals. This relationship is used by funds which trade, often on a day-to-day basis, using ... (full story)

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