Commodity Evening Trading Guide | Globe Capital Market LTD.
03-Jan-2024
Commodity Evening Trading Guide

METALS – Copper eases under dollar pressure, soft demand

Report Overview

Prices of copper were under pressure on Wednesday because the U.S. dollar firmed as optimism about early and aggressive U.S. interest rate cuts waned.

The dollar index on Tuesday recorded its biggest daily increase since October, supported by higher U.S. bond yields, while investors waited for U.S. jobs data and European inflation numbers for clues on central banks’ policies.

 

DATA
DATA ACTUAL FORECAST PREVIOUS
8:30pm
US
ISM Manufacturing PMI
47.2 46.7
8.30pm
US
JOLTS Job Openings
8.84M 8.73M
8.30pm
US
ISM Manufacturing Prices
49.5 49.9

 

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