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Since March, global trade protectionism has risen, "Dr.
Copper" as a global economic vane, market investment cautious, which has aggravated the weakness of copper prices this year
.
Although the EU, Mexico and Canada are still in the stage of imposing tariffs on each other with the United States, the trade relationship between China and the United States has eased, and copper prices have reflected the uncertainty of the trade situation for nearly three months, so the impact is gradually weakening
.
News: From January to May, the global copper market performed poorly, the global macro environment was complex, trade protectionism was on the rise, and the market performance was more cautious
.
The market has not materialized in the disruption of the copper strike, and the tight supply expectation has cooled sharply from the beginning of the year
.
Therefore, in the absence of obvious conflict between supply and demand, copper is not favored by funds, and the overall trend remains wide and volatile
.
However, the author believes that with the release of bearish factors, superimposed copper mine supply interference concerns have heated up again, market sentiment has warmed up, and copper prices have strong support
in the short term.
On the macro front, the current macro negative factors have been effectively released, and China's April PPI and May manufacturing PMI have shown signs of rebound, indicating that China's economy has stabilized and rebounded
.
The US ISM manufacturing index was 58.
7, the non-farm payrolls data exceeded expectations, and the US economy performed solidly and strongly
.
China's 2018 GDP forecast was raised to 6.
5 percent, compared with a 6.
4 percent
increase in January, according to the latest World Bank report.
The US GDP forecast for 2018 was raised to 2.
7%, up from the previous forecast of 2.
5%.
Since the beginning of this year, the European economy has weakened, the manufacturing PMI has fallen sharply, and the political uncertainty has increased, which once led to a sharp decline in the euro
.
However, the ECB's June 14 monetary policy meeting may discuss exiting QE and may eventually announce when it is ready to stop asset purchases, after the market expected Europe to exit QE
as early as the end of September.
Shanghai copper main 1905 contract, the market rebounded to the 48800-48810 area can enter boldly, 48700 strictly do a good stop loss
.
Watch above for the take profit exit around 48950
.
The above views are pre-market research and judgment, for reference only, if there are changes, pay attention to the new ideas
in the day in time.
