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The United States, Mexico and Canada reached an exclusive trade agreement, China's exports were under pressure from the United States, the US September non-farm payrolls data was less than expected, but it was revised from the previous month, the employment situation was stable, the dollar was still strong, in the short term, Shanghai copper bearish news amplified, copper prices are under pressure
.
The People's Bank of China announced a targeted RRR cut, deciding to cut the RRR by 1 percentage point from October 15 to release liquidity to the market and boost the market
.
However, from the perspective of previous trends, the impact is relatively limited
.
And the dollar has remained high recently, putting pressure on copper prices
.
Today's Shanghai copper materials fluctuated around 50,000, and downstream bargain buying remained unchanged
.
In the short term, the import window is closed and entering the consumption season, the overall still continues to be in a state of destocking, but the strength may not be as strong as the early National Day, copper prices are likely to maintain a strong trend of volatility, but macro events and the impact of the US dollar trend on copper prices can not be ignored, yesterday's central bank unexpected RRR cut to boost market sentiment, intraday copper prices or above rise
.
FYI
.
