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Copper Jumps on Better China Data
Copper Rebounding Copper prices are pushing higher again on Tuesday as the market rebounds following heavy selling at the end of last week. An unexpected jump in US jobs data saw Fed rate hike pricing soaring ahead of year end, leading USD higher and risk assets, including copper, lower. The headline US NFP rose to 175k, more than double the 85k forecast and am increase on the prior month’s 112k, which was revised higher to 172k. With US jobs now much stronger than initially thought, pricing for a Fed hike by year end has jumped above 70%, leading USD higher. Copper fell on Friday as traders digested the data ... (full story)
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- Jun 9, 8:40am | 4 hr ago Posted byTechnical Analysis70
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