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On July 28, COMEX copper were reviewed

by:Deyuan      2020-12-23
New York, July 28, COMEX copper rose on Thursday, with the federal reserve's decision to keep interest rates unchanged drag fall in the dollar.

the most traded copper futures contracts in September rose 2. 4 cents, or 1. 1%, to settle at 2 per pound. 2090 dollars. In most commodities, including other base metals rose in early trading.

New York BGCPartners head of base metal MichaelTurek wrote in a report: & other; To boost the metal rose, nothing is better than the fed's policy statement after the modest weakening of the dollar. ”

the dollar index fell 0 latest Wall Street journal. By 1% to 87. 59. Copper in dollar terms, when the weak dollar, copper is getting low for foreign buyers.

market has widely expected the fed will keep interest rates unchanged, but almost did not reveal any clues about raising interest rates next time schedule.

while the FED's policy statement, said the short-term risk to the outlook for the us economy weakened, but the FED fund futures, investors in September to decreases in expectations of an interest rate rise.

looking afternoon, investors will focus will shift to China July manufacturing figures released by the next Monday. This data is a measure of China the world's largest copper consumer demand of key performance indicators.

FastMarkets research director WilliamAdams said: & other; If Chinese manufacturing data showed signs of growth, even if is very mild, also may provide support to the copper. ”

Adams added: & other; A breeze will reverse the market sentiment. ”
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