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Copper review: Aaron copper stocks have fallen to three-week low copper supported stabilisation

by:Deyuan      2020-12-23
Abstract: the federal reserve meeting minutes after the dollar rose to a seven-month high, London copper confined fell $17; Yesterday's low copper stocks have fallen to three weeks, now supported copper, expect domestic copper prices rise and fall.

a. Today copper analysis:
though Wednesday's U. S. employment indicators JOLTS biggest disappoint yellen, but hawkish members to raise interest rates early still been supportive, the dollar index continued strong, is currently in a seven-month high, evening London copper edged higher after concussion downlink, $17 closed at $4808 in late fall, fall to zero. 6733 35%, 9171 hand cut hand, holdings of 322970 an increase of 436 hands.

the London metal exchange, according to data released on October 12, copper inventories to reduce 1500 mt to 347850 mt. Cancel the LME copper warehouse inventory than for 24. 61%.

2.
in the domestic market is influenced by outside dish weaker, night Shanghai copper rebound fatigue, high 1610 contract at the current month, closed slightly dipped 0. 05%; 1610 contracts opened today Shanghai copper current month 38000 yuan, up 80 yuan, the territory of Shanghai copper 1610 contract price of 37880 yuan, down 40 yuan. The federal reserve released on September meeting minutes, December the possibility of raising interest rates at 66%, traders think rates most officials think years once, but to raise interest rates point in time, is still significant internal divisions. Recent Aaron copper stocks continued to decline, low in nearly three weeks of yesterday, now the copper or get support, is expected to present domestic copper prices stabilized.

hot financial information
1. In September the fed on hold, in line with market expectations, said to wait for more evidence. But the fed's rate increase probability increase in points out, lattice figure shows officials years is expected to raise interest rates again. This year, the federal reserve left two meetings, November and December, respectively. Market is most likely to raise interest rates in December is expected, since November meeting is before the U. S. presidential election.

2. On Wednesday, the U. S. department of labor data show that JOLTS vacancies in August 544. 30000, 2015 for minimum 12 months, significantly less than the expected 5. 75 million, data from 587 in July. 10000 people to 583. 10000 people. JOLTS data is fed chairman yellen highly focus on labor market indicators.
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