Brief review of Shanghai copper on August 19

On the macro front, global central banks will continue to maintain their current ultra-loose monetary and fiscal policies in the short term, and although the dollar trend was relatively strong after the interest rate meeting, it is largely an overdraft
of future economic growth.
In terms of fundamentals, the current TC price continues to rise, coupled with the rumors of domestic storage dumping, so the supply side has a more negative impact on copper prices, while on the demand side, China's current control of the new crown epidemic is still very successful, and the new energy and new infrastructure sector will continue to pull copper demand
.

In the early morning, the Federal Reserve released the minutes of the meeting, the policy tightening expectations were basically implemented, the global stock market was affected by this, and the dollar index rose to suppress the overall commodity market
.
At present, affected by the epidemic and natural disasters, the domestic economy in the second half of the year is under greater pressure, and the price momentum is not good when the copper fundamentals have not
yet improved greatly.
On the plate, Shanghai copper has recently shown a range decline, and the overall decline after the opening of Europe has further accelerated, and it is expected that Shanghai copper will mainly decline at night, paying attention to the effect of the first support level of 665 and the second support level of 653
.
Operationally wait and see, waiting for the price to land
.