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Copper Rebounds As Investors Wait for Chinese Data, Sliding Dollar

From earnforex.com

Copper futures are rebounding on Tuesday after declining to kick off the trading week. The industrial is benefiting from the wait-and-see approach by investors pertaining to a series of Chinese economic reports scheduled for Wednesday. Copper prices are also getting a boost from a plunging greenback. December copper futures surged $0.02, or 0.77%, to $2.69 per pound at 15:35 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. Copper prices have cratered more than 3% over the past month, and they are down 20% year-to-date. The US dollar plummeted 0.56% to 97.10, one of its worst daily ... (full story)

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  • Category: Fundamental Analysis