Published: Dec 14, 2023 15:55
Early this morning at 3 o'clock, the Federal Reserve announced that it would maintain the target range for the federal funds rate at 5.25%-5.5%. Fed Chairman Powell made rare and explicit "dovish" remarks during the press conference. In response, the US dollar index dropped from 103 to 102, continuing its decline throughout the day; copper prices opened high this morning and traded above multiple moving averages. Attention tonight will be on the interest rate decisions of the European Central Bank and the Bank of England. If the European Central Bank's intention to cut rates is clear, it may contribute to a halt in the decline of the US dollar. Copper futures will test the support of the 20-day moving average tomorrow.

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