Copper price remains firmer around $3.45 as DXY retreats, stimulus hopes amplify – by anilpanchal7 Copper YieldCurve China RiskAppetite Recession
The industrial metal has recently been cheering the hopes of further stimulus from China, the UK and Japan as these nations try to defend their respective national currencies after the latest blood bath against the US dollar. Also favoring the expectations of additional liquidity are the fears of economic slowdown, recently backed by the International Monetary Fund .
Elsewhere, an increase in China’s copper cathode output, by 6.12% MoM and 12.12% YoY in September, joins the all-time high of Beijing’s Credit Default Swaps to challenge the copper buyers. Moving on, chatters surrounding the British, Chinese and Japanese governments’ bond-buying, as well as China’s zero-covid policy, may direct short-term copper moves. Also important will be today’s Federal Open Market Committee Meeting Minutes amid hawkish Fed bets.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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