Copper Price Trend May Reverse on FOMC Minutes

Since the April sell-off, silver has remained gold, mainly because investors have not beaten to buy the metal with the same verve as gold did. Copper is often referred to as Dr. copper due to its unique ability to predict economic trends. It was a very popular product for many thieves. From the domestic market point of view, although copper scrap may reduce under the influence of Sino-US relations, the tax should fluctuate downward, and the production of refined internal copper is limited by the processing fee.

Gold fell on a bear market in the past month on expectations that the Fed could downsize stimulus and investment availability has fallen. It has simply moved to test the lower limit of the established consolidation area. Meanwhile, gold and silver may find flow to rise as a refuge reverse flows out of the US dollar, while hopes of stimulating a return to hedge inflation demand return.

The US Treasury markets, with their recent rising bond yields, are also suggesting that the Fed’s very accommodative monetary policy in recent years will begin to relax in the not-too-distant future. Some sales in the equity and oil markets turned some ample buying of USD early on, but a positive sounding Brexit title from German Angela Merkel ignited a fire under the British pound and caused the broader dollar to squeak lower after that. It turned on a bit wide buying of USD early on, but a positive sound Brexit title from German Germans Angela Merkel lit a fire under the British pound and caused the broader dollar to squeak lower after that.

The copper market is constantly evolving, as well as product information there is a rapidly growing need for real-time price information and LME copper stock information. The market is also digesting a poor 30yr German today’s auction. In reality, the markets have had all the time of price in the pause of rate cuts, therefore, also because of the status quo can be rejected as insufficient to drive the continuous gains and to trigger profit taking. Key markets outside were bearish for copper today. They were completely bearish for copper Wednesday, as the US dollar index was significantly higher and crude oil prices were significantly lower. They were also bearish for precious metals Tuesday, as the US dollar index was higher and crude oil prices were lower. Meanwhile, commodity futures markets can generally be moved.

Gold prices advanced modestly as the market awaits the testimony of Federal Reserve Chairman Ben Bernanke on the economy and monetary policy ahead of Congress on Wednesday. They were relieved of pressure after Bernanke, in the previous FOMC meeting, had dispelled the concerns of investors that the US central bank will soon be exiting its bullion-friendly bond purchases. They rose today amid speculation that Federal Reserve Chairman Bernanke may hint at the need for sustained stimulus. Comex gold futures prices were trading significantly lower in the afternoon trade Tuesday, in a strongly bearish response to the afternoon release of the minutes of the last Federal Open Market Committee meeting of the US Federal Reserve.

Copper prices are very important for many companies. Therefore, they can only be seeing a bigger buying plunge, caused by weakening summer demand and commercial tensions. They will continue to follow a macro pace in September, with markets suggesting a rebound in short selling, if Fed interest rates cut in September and the major economies around the world follow clear expectations of shear taxi. They moved alongside monetary policy expectations at Fed-prices for most of the year. Prices, opening stocks and the forward price curve for copper are available in our real-time software.

Prices are accelerating to a four-week-old bearish trend on the daily bar chart. Meanwhile, crude oil prices traded lower Tuesday, which was also bearish for precious metals. Meanwhile, Nymex crude oil futures prices were significantly lower on Wednesday and hit a cool five-week low, mainly due to the strong US dollar index.

The US dollar index was significantly higher on Wednesday afternoon and hit a new three-month high. It traded slightly higher when the FOMC news broke, and then quickly rose higher after hitting a new five-week low during the night. It was more solid and crude oil prices were lower. In July, the monthly copper Metals Index (MMI) fell by three points, falling to its lowest value since October 2017.

next bears’ near-term short-term price target is closing lower solid technical support prices in the low March of $ 1,629.80. The downside price next breakout goal for the bears is closing lower solid technical support prices in the low March of $ 31.09. Prices are closing below solid technical support at $ 28.00. next Bears’ short-term breakout price downward target is closing lower solid technical support prices as of May 2012 low of $ 1,538.70.