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Copper Futures Fall on Weak China Data & Strong USD
Copper prices have come under fresh selling pressure today with the futures market pushing lower again. The move comes against the backdrop of a stronger US Dollar as traders continue to grapple with Fed easing expectations and a more uncertain outlook after Trump firing Fed’s Lisa Cook this week. Despite Powell signalling on Friday that the Fed is likely ready to ease rates in September, USD has failed to break lower, reflecting ongoing caution among traders. The market will now be watching incoming US data closely with any upside surprises likely to dilute easing expectations, driving USD higher (copper lower). ... (full story)
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