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Copper review: copper prices steady attention to China's manufacturing data next Monday

by:Deyuan      2020-12-23
Abstract: the falling inventories and a weaker dollar boosted prices, London copper closed up 1. 34% market focus on next Monday, China's PMI, days sentiment would like, Shanghai copper or held steady, this spot copper rose slightly.

today's copper price analysis and forecast:
a. International market
published in the federal reserve to keep interest rates unchanged after a weaker dollar index, basic metal vibration, London copper rally closed up $65, the latest closing price at $4899, up to 1. 34%; Focus on the market at present in July will be released next week, a Chinese manufacturing purchasing managers' index ( PMI) , hope to find China's demand of the market further clues.

the London metal exchange, according to data released on July 28, copper inventories to reduce 5700 metric tons to 208725 tons. Cancel the LME copper warehouse inventory ratio is 32. 70%.

2. Domestic market
1608 contracts opened today Shanghai copper current month 37800 yuan, up 120 yuan, the territory of Shanghai copper 1608 contract offer 37870 rose 190 yuan; Night Shanghai copper plate strong consolidation, days after news, market focus on next Monday China PMI index, according to the survey, China's official purchasing managers' index (July PMI) Is expected to last month, just fall in 50 this from online, according to China's manufacturing industry to keep moderate expansion trend, but some people think that, as the real estate market highs, manufacturing there are downside risks. Weekend approaches, the market sentiment, is expected in Shanghai today stabilization is given priority to, the spot copper or rose slightly.

hot financial information
1. According to Thursday ( On July 28) A government report says, American initial jobless claims last week an accident increased, but still to prove that the current labor market is strong, is not affected. The U. S. department of labor, 痛单位) The United States, according to data released on July 23, the week after the seasonally adjusted jobless benefits increased 1. 40000 to 26. 60000 people, has been 73 consecutive weeks remain below the 300000 mark, forecast of 26. Before 00000, value correction is 25. 20000 people.

2. On Friday, European stocks generally fell, U. S. stocks rise and fall. Oil prices continue to weaken, beautiful painting new low 3 months, and fell into a technical bear market; American company earnings mixed, ford fell more than 8%, Facebook closed up more than 1%. Market expectations will promote foreign exchange movements in central bank policy, a weaker dollar, pound sterling, yen after media said the Japanese government put pressure on the central bank relaxed, below the 105 mark. Gold futures closed up, U. S. debt.
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