LME Copper to Seek Direction from US Non-Farm Result, SMM Says

Sep 2, 2016 19:33

Source:SMM

LME copper will seek direction from US August non-farm payroll report in the coming week, SMM foresees.

SHANGHAI, Sept. 1 (SMM) – LME copper will seek direction from US August non-farm payroll report in the coming week, SMM foresees.

Should US August nonfarm payroll report be upbeat, US dollar will bounce back. Hence, LME copper will likely fall below $ 4,600 per tonne in the coming week. But positive technical side may support LME copper to rise above the 10 and 20-day moving averages later the week and range between $ 4,600-4,750 per tonne.

SHFE 1610 copper may challenge 37,000 yuan per tonne after stabilizing at the 40-day moving average in the coming week and will range between 36,150-37,200 yuan per tonne.

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LME Copper to Seek Direction from US Non-Farm Result, SMM Says

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