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Shanghai copper copper review: waiting for China's GDP data consolidation

by:Deyuan      2020-12-23
Abstract: $d weak support, London copper closed, the central bank to keep interest rates unchanged exceeded market expectations, morning Shanghai copper or consolidation, this spot copper price limited; Wait for China's GDP data provide further guidance.

today's copper price analysis and forecast:
a.
the United States on Thursday announced the international market of the two related to inflation and employment data have performed better than expected, while the data is advantageous to the prospects for the fed to raise interest rates, but maintain weak dollar, are supportive to the base metal, London copper closed, the latest closing price to $4939, up $3.

the London metal exchange, according to data released on July 14, copper inventories increased 1875 metric tons to 234925 tons. Cancel the LME copper warehouse inventory ratio is 32. 35%.

2.
in the domestic market in Shanghai today on main 1609 contract opened 38530 yuan, rose 60 yuan, 9:10 contract offer 1609, 38390 yuan in Shanghai copper fell 80 yuan; The bank of England yesterday released the first interest rate decision, back to maintain zero. 5% interest rates, quantitative easing remains unchanged at 375 billion pounds, a surprise on the market, today in a consolidation in Shanghai trading, investors in China today in the second quarter GDP data before strong wait-and-see mood, now is the spot copper co. , LTD.

hot financial information
1. The United States energy information administration ( EIA) The latest data shows that the us EIA crude oil inventories last week less than the expected; Refined oil depot growth and the largest increase since January. WTI crude oil fell rapidly expand, fell below $45 a barrel, down to low two months; Brent crude has failed to hold $47, a decline of $2 days.

2. Britain's central bank left its benchmark interest rates at zero. 5%, at the same time maintaining bond buying scale 375 billion pounds. 7 month for resolution, higher interest rates - The same - Proportion of 0 - cut vote 8 - 1 ( 0-6 month 9 - 0) 。 Most of the bank of England, said officials are expected to loosen policy in August. The bank of England governor carney said last month that he personally think that should be cut in summer.
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