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Today's Shanghai copper volatility is dominant, the rebound after midday accelerated to stimulate the market to turn red, as of the end of the day closed Shanghai copper main 2110 contract closed at 69130, up 30, or 0.
04%.
On the macro front, global central banks will continue to maintain their current ultra-loose monetary and fiscal policies in the short term, but the recent strengthening of the Fed's taper expectations has led to a sharp strengthening of the US dollar, which is not very favorable
for the overall non-ferrous metals sector, including copper.
The third round of domestic reserve dumping was settled, which briefly affected the overall copper market after the decline of Shanghai copper is still in a repairing shock market, and the battle for the 69,000 line will be around
the day within the day.
At present, the global political landscape is turbulent, and the market is waiting for the Fed's Powell attitude at tonight's global central bank meeting, and the news is relatively calm
.
Fundamentally, the domestic economic pressure in the second half of the year is greater, exports and domestic demand are down, copper terminal demand is expected to be poor is difficult to bring trend momentum, it is expected that Shanghai copper will maintain a restorative rebound in the near future, pay attention to whether it can stabilize after the 69,000 first-line competition, and there is support
around 68,500 below.
The heavy news in the evening is about to land, and it is recommended to wait and see
.
