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Copper: Rallies as Lower US CPI Weights on Dollar

From dailyforex.com

The copper market rose on Tuesday, as we have seen rates and the US dollar drop after the lower-than-anticipated US Core CPI numbers. The copper market rallied a bit during the trading session on Tuesday as the CPI numbers in the United States still came out much lower than thought. That being said, it suggests that the US dollar might be overvalued, and if that's the case, commodities could be a big winner. Copper, of course, will follow that same pattern, but you should also keep in mind that the copper market is highly sensitive to the overall demand situation, which continues to be very strong. If the US economy ... (full story)

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  • Category: Technical Analysis