Copper: Fear of a US recession ads to concerns over industrial activity in China – ANZ
Source Fxstreet
Copper steadied near its four-month low as a worsening economic outlook keep sentiment depressed, ANZ commodity strategists note.
Copper hit by a selloff across risk assets
“Fear of a US recession added to concerns over soft industrial activity in China. Prices for Copper and the broader base metal market were hit hard earlier this week by a selloff across risk assets.”
“The unwinding of the JPY carry trade could have unexpected implications for Copper. The use of cheap funding in Japan appears to have fuelled a rally across risk assets over the past couple of years.”
“Copper hit a record high earlier this year; but this month’s sharp moves lower in the JPY combined with concerns of a hard economic landing in the US could lead to further downside for Copper in the short term.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Nvidia stock sinks 4% as Trump’s tariff plans rattle AI tradeNvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
Nvidia shares fell over 4% early Monday after US President Donald Trump delivered a stern message about trade tariffs. Trump said on Sunday that no country would be given any special treatment regarding tariffs. He also signed new trade policies into effect on April 2, which he calls “Liberation Day.” This frightened investors, who had […]
Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
Bitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Gold price (XAU/USD) stabilizes just above $3,130 at the time of writing on Wednesday following a mean reversal move the prior day after a fresh all-time high got eked out at $3,149 before closing in negative territory.
Related Instrument
