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Downstream of the copper review: waiting for the federal reserve meeting minutes more

by:Deyuan      2020-12-23
Abstract: the poor earnings to start which disappointed investors, evening copper performance weak fell $39; The federal reserve meeting minutes before a stronger dollar, Shanghai copper confined consolidation, this is copper or dipped.

a. Today copper analysis:
the U. S. corporate earnings last night, day of the first great Alcoa revenue than expected which disappointed investors, stock sell-off to the biggest drop in a month, base metals also fell, evening copper vulnerable, as closed down $19 to $4825, or 0. 39%, 15904 an increase of 2749 hands, holdings 322534 hand cut 1390 hands.

the London metal exchange on October 11, according to data released copper inventories to reduce 1325 mt to 349350 mt. Cancel the LME copper warehouse inventory than 23. 08%.

2.
in the domestic market domestic market with no major economic data released this week, night Shanghai copper with copper back slightly, and the current month 1610 closed slightly down 0. 39%. 1610 contracts opened today Shanghai copper current month 38020 yuan, up to 40 yuan, 'Shanghai copper 1610 contract price of 37920 yuan, down 60 yuan. Domestic performed well in the third quarter economic data has weakened the recent housing market regulation and control policy for the effects of copper, post-holiday copper overall situation stabilized. But in probability close to a record high expectations for the fed to raise interest rates later this year, the federal reserve announced a comprehensive employment index accidentally tumbled and prospects for the fed to raise interest rates, adding to the uncertainty in September the federal reserve meeting minutes on Thursday, before the market strong wait-and-see mood, today Shanghai copper or consolidation, is expected to spot copper fell today.

hot financial information
1. Wall Street earnings season began, but a poor performance of Alcoa, the market enthusiasm away. In addition, the biotech company Illumina cut in the third quarter revenue expectations, fell more than 24%. Three major U. S. stock indexes fell more than 1%, the s&p 500 index of medical and health sector led, or 2. 51%.

2. The fed on Tuesday, according to the data published in September this year the job market condition index ( LMCI) Down 2. 2%, a further decline in August, after the market is expected to rise by 1. 5%. The revised August LMCI drop by 0. 7% increase to 1. 3%. Labor market conditions index revealed that the federal reserve to the understanding of the employment situation, the index for the market to understand the fed's attitude toward the job market is very important, the fed also has repeatedly said the index than non-agricultural data more truly reflect the labor market conditions.
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