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Copper review: the poor economic data of copper extended losses

by:Deyuan      2020-12-23
Abstract: the evening weak us jobs data and a stronger dollar hit commodity prices, London copper fell $71 to two and a half months lows, night Shanghai copper plate pressure extended losses, spot copper or invigorating the down today. ( )

today's copper price analysis and forecast:
in the international market on Thursday evening, the U. S. department of labor, according to data released last week, U. S. jobless claims increased to more than a year at the beginning of the highest level, the investor worries about U. S. job market revived, weaker then Aaron copper bearing, copper latest closing price quote $4622, down to 1. 5%, low in nearly two and a half months.

the London metal exchange on May 12, according to data released copper inventories to reduce 1625 tons to 160000 tons. Cancel the LME copper warehouse inventory ratio of 25. 14%.

2. Domestic market
1605 contracts opened today Shanghai copper current month 36160 yuan, up 200 yuan, 9:10 contract offer 1605, 35110 yuan in Shanghai copper fell 850 yuan; Dollars continuous rising technical selling, night Shanghai copper plate under pressure, below the previous low, short-term market sentiment remains weak, Shanghai copper or likely to be down further; Spot copper is expected today to fall.

hot financial information
1. 12 evening Beijing time, the labor department on Thursday, according to a report released last week, the United States jobless claims increased at the beginning of 20000, to 29. 40000, for the third consecutive week increased, and hit a 14-month high, close to 300000, according to the U. S. labor market may have a weaker. Accept MarketWatch survey of economists on average expect initial jobless claims fell last week to 4000, 270000.

2. The bank of England announced today that its benchmark interest rate 0. 5%, and maintain the £ 375 billion asset purchase size remains the same. The bank of England, according to domestic price pressures, core inflation remains subdued. Signs of the referendum weigh on economic activity increased. Britain withdrew the capital inflows may be at risk, to lead to higher inflation, slower growth.
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