Copper Prices Dip as USD Rises Post Non-Farm Payrolls; Eyes on China NDRC Presser Amid Mideast Tensions

게시됨: Oct 8, 2024 08:43
【Copper Prices Suppressed by Rising USD after Non-Farm Payrolls, Focus on Today's Domestic Press Conference】On the macro front, following the release of non-farm payrolls data, the likelihood of the Federal Reserve cutting interest rates by 50 basis points within the year has decreased. While Fed officials have indicated a higher probability of further rate cuts, traders anticipate that any further cuts within the year will be less than 50 basis points. Consequently, the US dollar index has notably strengthened, putting downward pressure on copper prices. Additionally, sources claim that Israel will soon retaliate against Iran, and Iran's Tasnim News Agency has also stated that Iran has prepared 10 scenarios to respond to potential Israeli attacks, further escalating tensions in the Middle East. Meanwhile, domestic markets await today's press conference by China's National Development and Reform Commission...

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【Copper Prices Suppressed by Rising USD after Non-Farm Payrolls, Focus - Shanghai Metals Market (SMM)