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Copper review: China's GDP data beforehand good copper prices are expected to rise in vibration

by:Deyuan      2020-12-23
Abstract: the dollar firmed and late oil pressure shock to the metal market, copper closed with three dollars, and the market of China's GDP is widely expected positive, market risk preference or improve, material copper stability of small and medium-sized up now. ( )

today's copper price analysis and forecast:
a. International market dollar firmed
night brings pressure to metals markets, coupled with the weekend before the doha meeting oil moves carefully, London copper shock consolidation $3 up late; The latest figures show march CPI rose less than expected in the United States, shows that the potential inflationary pressures remain modest, suggested the fed to raise interest rates will remain cautious; Today London copper edged lower, the latest quotation for 4833 dollars fell $7.

the London metal exchange on April 14, according to data released copper inventories 25 tons to 146500 tons. Cancel the LME copper warehouse inventory than 23. 24%.

2. Domestic market
1604 contracts opened today Shanghai copper current month 36820 yuan, up 130 yuan, the territory of Shanghai copper 1604 contract offer 36800 rose 110 yuan; Today 10:00 a. m. in China will publish the key financial data, including industrial output and march quarter gross domestic product ( GDP) And may provide more clues on the status of the Chinese economy; Given the strong drive people trade data released on Wednesday, most market participants to today's data. Shanghai copper opened lower after the shock consolidation, waiting for data to guide, if the data is positive, will further enhance the market risk preference, the spot price of copper is expected to rise in vibration.

hot financial information
1. Thursday night march CPI data released by the United States all not as good as expected, the federal reserve to raise interest rates this month pressure reduce, further dollar decline after data. Yellen said recently that inflation expectations are more and more not clear, the federal reserve cautious to raise interest rates is appropriate. At the same time released & other; Throughout the first '&; Data refresh for 43 years.

2. The bank of England kept 0. 5% record low interest rates unchanged. In addition, the British central bank asset purchases in April 375 billion, also in line with expectations. The bank of England said in the meeting minutes released today, some signs that the eu referendum weigh on economic activity, it will consider the refund the impact on monetary policy. Its expected, British Europe is likely to restrain demand in the short term, could have a significant impact on sterling, asset prices.
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