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Copper Soaring on Weak USD & Supply Concerns
Copper prices continue to push higher ahead of the weekend, helped by a weaker US Dollar and continued supply concerns related to mine disruptions in Indonesia and South America. The greenback has turned sharply lower this week as a result of the US government shutdown, fuelling an uptick in dovish Fed expectations. With no sign yet of how long the shutdown is likely to last, the damage to the US economy continues to grow. While this situation persists, USD looks vulnerable to continued downside which should help keep copper prices supported. Yesterday’s weaker-than-forecast jobs data, and the NFP being postponed ... (full story)
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