Shanghai copper afternoon review on September 12

At present, the market focus is still on today's ECB interest rate decision and the Fed's interest rate cut meeting to further judge the macro trend
.
Copper prices are still greatly affected by the US dollar, although most of the market believes that the Fed will cut interest rates by 25 basis points, but due to the recent good US data, the US dollar is still at a high level, interest rate cut expectations are still difficult to pull down the US index, the high US dollar on copper prices to form pressure, and the global macro weak situation has not been substantially improved, trade friction risks are still there, copper prices top rush up limited
.
At the same time, investors are now back to rationality, risk aversion is heating up, and gold continues to stand at the 1500 mark
.

From a fundamental point of view, the current recovery of domestic consumption is slightly slow, the support for the plate is not strong, and copper prices are still greatly affected by macro sentiment
.
Today's focus is on data such as the ECB's interest rate decision and the US CPI for August
.
It is expected that today's copper price will continue the low volatility of the night session, the current Shanghai copper closed negative, the upper pressure 5-day moving average, MACD red column shortened, technical momentum is insufficient
.

In terms of spot, on the last trading day of the Mid-Autumn Festival holiday, the willingness of holders to hold prices was clear, the premium remained stable, and the transaction continued to show a deadlock
.
It is expected that today's Shanghai copper 46900-47400 yuan / ton, spot premium 110-liter 140 yuan / ton
.