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COMEX copper on August 1, were reviewed

by:Deyuan      2020-12-23
New York on August 1, COMEX copper reverse rally on Monday, dragged down by falling oil prices and a stronger dollar.

COMEX9 copper fell 1% to 2 per pound. 1995 dollars. Copper prices earlier once rose to 2. $2315, by China's data is expected to stimulate further stimulus is expected to support.

oil pressure copper prices, with us crude oil futures fell more than 4% and below $40 a barrel. Copper prices usually follow the price trend, because both are usually funds as a package deal.

a stronger dollar also depress prices. Copper in dollar terms, when the dollar is strong, its for buyers holding other currencies become more expensive. The Wall Street journal, the dollar index last at 86. 68, 0. 2%.

investors will focus on the frequent economic news this week, including Australia's central bank and the bank of England policy meeting, the grand finale will be out of the U. S. non-farm payrolls report on Friday.

CitigroupInc metal research and strategy at DavidWilson said: & other; If the macroeconomic data strong and supported the dollar, so will be harmful to commodity prices. ”

China's National Bureau of Statistics and the federation of logistics and purchasing ( 机构) United announced on Monday, July manufacturing purchasing managers' index ( PMI) Slightly to 49. 9, and survey the median forecast last month were 50. This makes analysts and investors speculation China will adopt stimulus measures this year.

but caixin/Markit announced in July China manufacturing PMI is 48 since last month. 6 soared to 50. February 6, 2015 to the highest, and for the first time in 17 months to expand range, output, new orders, inventory and other major indices all recovered to above 50.
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