1 / 3

Metals-Copper Falls as Dollar Firms on Fed Taper Signals

of the Forex Market Brokers United States ($1 = 6.4618 yuan) (Reporting by Mai Nguyen in Hanoi; Editing by Ramakrishnan M.)<br>

Zeno2
Download Presentation

Metals-Copper Falls as Dollar Firms on Fed Taper Signals

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Metals-CopperFallsasDollarFirms onFedTaperSignals Sept 23 (Reuters) – Copper prices fell on Thursday as the dollar strengthened after the U.S. Federal Reserve said it would begin tapering its stimulus programmeas soon as November. Three-month copper on the London Metal Exchange fell 0.5% to $9,242.50 a tonne by 0357 GMT, while the most-traded October contract on the Shanghai Futures Exchange advanced 0.1% to 68,710 yuan ($10,633.26) a tonne, tracking overnight gains inMarketInsiderLondon.

  2. The Fed said on Wednesday it would likely begin reducing its monthly bond purchases as soon as November and signaled interest rate increases may follow morequickly than expected. • The dollar hit its highest in a month after the Fed set the stage for rate hikes next year,far sooner thanits developed market peersare expected to move. • A firmer dollar makes greenback-priced metals more expensive to holders of other currencies. Copper is often used as a gauge of global economic health and taperingcould slow recoveryin the world’s biggesteconomy. • FUNDAMENTALS • LME lead rose 1% to $2,135.50 a tonne while ShFE aluminium advanced 2% to 23,365 yuan a tonne and ShFE tin hit a record 277,800 yuan a tonne on supply worry. • Forthetopstoriesin metalsandothernews,click or • MARKETSNEWS • Asian shares moved higher, supported by some positive news from struggling developer China Evergrande Group, while the dollar held near a one-month top afterthe U.S. Federal Reservetook a hawkish tiltovernight. • DATA/EVENTS(GMT) • 0645FranceBusinessClimateMfgSept • 0715 France Markit Mfg, Serv, Comp Flash PMIs Sept 0730 Germany Markit Mfg, Serv, Comp Flash PMIs Sept 0800EUMarkit Mfg,Serv, CompFlash PMIsSept • 0830 UK Flash Mfg, Serv, Comp PMIs Sept 1100UK BOEBank RateSept

  3. 1100UKGBBOEQECorpSept 1230USInitialJoblessClmWeekly 1345USMarkitMfg,Serv,CompFlashPMIsSept 1600FederalReserveissuesquarterlyfinancialaccounts of the Forex Market Brokers United States ($1 = 6.4618 yuan) (Reporting by Mai Nguyenin Hanoi; Editing by RamakrishnanM.) Sourceby: https://www.reuters.com/article/global-metals/metals-copper-falls- as-dollar-firms-on-fed-taper-signals-idUSL1N2QP05T

More Related