iconOct 26, 2023 17:14
Source:SMM
Tonight we need to pay attention to the initial value of the US durable goods orders in September, the initial value of the annualized quarterly rate of the actual GDP in the third quarter of the US, the initial value of the annualized quarterly rate of the core PCE price index in the third quarter of the US, the initial number of unemployment benefits as of October 21st, and the monthly rate of the seasonally adjusted housing contract sales index in September. The European Central Bank's rate decision to be announced tonight also needs to be closely monitored. If the data released tonight continues to improve, the US dollar will have stronger upward momentum, but if the US dollar stays strong around 106.5, copper prices will still have difficulty in showing a clear upward trend. It is expected that LME copper will still hover around 8000 US dollars/ton tonight, and SHFE copper will focus on the upward momentum of the 20-day moving average.

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