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Daily review: the dollar index concussion copper above under pressure

by:Deyuan      2020-12-23
Abstract:, dragged down by a stronger dollar on Friday night copper fell, domestic production is less than the expected market demand and reduce the prices upward blocked, Shanghai copper weak consolidation today, is expected to spot copper fell.

today's copper price analysis and forecast:
a.
in the international market expansion speed data showed the U. S. manufacturing activity, suggests that the U. S. manufacturing after a downturn has showed signs of stabilization, also boosted by the fed to raise interest rates expected, the dollar index reach the highest level since early march, every Zhou Lun copper fell back pressure, $57 fell to $4923, in late fall of 1. 15%.

the London metal exchange, according to data released on July 22, copper inventories to reduce 5675 metric tons to 222725 tons. Cancel the LME copper warehouse inventory ratio of 37. 93%.

2. Domestic market
Shanghai copper low open today, 1608 contracts opened 38290 yuan, the current month dropped 60 yuan, 'Shanghai copper 1608 contract offer 38040 fell 310 yuan; China's economic growth prospects uncertain, the copper market demand outlook is not optimistic, plus the enterprise cuts failed to meet market expectations, short-term copper under pressure, Shanghai copper disadvantaged consolidation today, is expected to spot copper fell.

hot financial information
1. On Friday, July 22) Financial data firm Markit, according to an industry report released in July manufacturing purchasing managers' index ( PMI) Initial value is higher than last month and forecast, and recorded the highest since October 2015. In July, according to the American manufacturing purchasing managers' index ( PMI) Initial value is 52. 9, 6 surveys of 51. 3, analyst forecasts of 51. 6. Manufacturing purchasing managers' index to reflect the comprehensive development of American manufacturing.

2. The July PMI composite index fell to 47. 7, the lowest level in 2009 years, and is far less than 52 in June. The level of 4. The indicators suggest that Britain's economic activity in Europe plunged after the referendum. Chief economist at Markit Chris Williamson said in July, the British economy dramatically worse. The pound fell 0 on Friday. 95%, to 1. 3106.
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