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Copper market afternoon commentary: the US dollar index rose to a two-month high, overnight London copper shock closed down $33, overseas economic recovery expectations have strengthened, low inventories and post-holiday peak season expectations to provide support, copper materials rose slightly today
.
In terms of news, the number of initial jobless claims in the United States last week was 779,000, estimated at 830,000, and the previous value was 847,000, falling
for the third consecutive week.
Eurozone retail sales rose 2.
0% month-on-month in December; Expectations were 2.
8%.
The US employment data released this week exceeded expectations, the market was optimistic about the US economic outlook, the dollar rose sharply overnight, and the non-ferrous metal high fell
slightly.
Overnight, London copper rushed back down slightly to close lower, closing near the 5-day moving average at $7814.
5, and U.
S.
copper opened
slightly higher today.
Shanghai copper rose sharply on the day, opened slightly lower in overnight trading, and closed the doji in shock, closing above the 60-day moving average at 57800
.
Shanghai copper trading positions fell slightly, pre-holiday market trading was inactive, and short-term copper prices stabilized and rebounded
.
Shanghai copper has an upper pressure of 58800 and a lower support of the 60-day moving average of 57000
.
Today's international copper premium continued to shrink to 237 yuan compared with Shanghai copper, and the internal sentiment was stronger than the external market
.
