U.S. Retail Data Exceeds Expectations, Overnight Copper Prices Decline
On the macro front, U.S. retail sales for December exceeded expectations at 0.6%. Swap contracts indicate the expected probability of a rate cut by the U.S. Fed in March has decreased to around 50%, as the market begins to accept the prospect of a delayed rate cut. As a result, the U.S. dollar rose, negatively impacting copper prices...

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