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On November 28, the US economic data released last week was better, the dollar index repeatedly reached new highs, after breaking through the 100 mark last week, continued to rush up, the Dow closed above the 19000 mark for the first time in history, and the S&P stood above the 2200 mark
for the first time.
With better data, pointing to a strong U.
S.
economy right now, and with the minutes of Wednesday's Fed meeting showing that most officials believe a rate hike should come relatively quickly, the Fed's rate hike in December seems a foregone conclusion
.
Copper rose sharply last week, up 8.
8%
for the week.
The monthly increase has exceeded 25%.
Trump won the US presidential election, the market expects that he will increase investment in infrastructure construction, and non-ferrous metals are expected to receive strong support
.
Although the US dollar remained strong, due to the good atmosphere of the overall macro market, the domestic commodity futures market returned to strength, except for precious metals closed down last week, other varieties generally rose
.
Non-ferrous metals and black were the top
gainers.
This week focuses on the OPEC Vienna freeze meeting, the Italian referendum and the release of the US non-farm payrolls data for November
.
In the short term, copper prices may be strong, but after nearly a month of sharp rises, the risk
of a technical correction is not excluded.
