SHANGHAI, Apr.29 (SMM) - Expectations grew before release of the FOMC minutes that recent poor economic indicators will cause the Fed to put off interest rate hike, weighing down the dollar. Will copper gain impetus from a weaker dollar?
“Although most economists now expect the Fed will not raise the rate before September, such anticipation has been priced in, so a pullback is possible after the release of the minutes,” analyst of Guotai Junan Futures told SMM.
Analyst of Guosen Futures also held that the expectation for a delayed rate hike has been digested, but predicted that relatively high long positions may continue to support copper prices.
As for other opinions, analysts of Western Futures and Zhaojin Futures still expect stronger expectation for more stimulus measures by Chinese government will continue bolstering copper.
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