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During last night's European session, London copper continued the weakening trend of the afternoon, testing a lower of 5801.
5 US dollars / ton
.
Then entered the U.
S.
market, as the market continued to increase speculation about the Fed's interest rate cut measures, pushing U.
S.
stocks higher, copper prices quickly rebounded, bulls continued to increase positions, soon copper prices recovered the decline in the European market and maintained a strong upward trend, until the end of the session to test a high of 5895 US dollars / ton, close at 5894.
5 US dollars / ton, up 0.
46%
intraday.
Last night, as the Fed's speech strengthened the market's expectations for interest rate cuts, the dollar broke the 97 mark in the short term, the bears closed their positions low, and copper prices rose
rapidly.
Today's attention to China's May Caixin PMI and European PMI data, the US dollar is currently holding at the edge of 97, it is expected that the market's risk aversion in Europe is expected to strengthen the preference for the US dollar, and there is still greater pressure
on copper prices to the upside.
Fed Powell said that it will take appropriate measures to maintain the economic expansion, suggesting that the Fed is open to interest rate cuts, European and American stock markets rose and the dollar weakened to boost copper prices, overnight London copper turned red at the end of the day, the latest closing quotation of 5895 US dollars / ton, up 27 US dollars, or 0.
46%, the volume of 10638 lots decreased by 4277 lots, and the position 306318 increased by 1896 lots
.
