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SMM Evening Comments (Feb 8): Shanghai Nonferrous Metals Closed with Gains with Powell Less Hawkish

Feb 08, 2023 18:00

The US Fed Chairman Powell said on the morning of February 8 that if the economic readings continued to exceed expectations, the rate hike path will continue, and the terminal rate will be higher. The market interpreted it as hawkish but was less severe than the market had expected, hence the non-US currencies rose again, benefiting non-ferrous metals prices.

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