According to Angel Commodities, expect to trade on higher today as weaker DX post ECB statement and favourable Chinese trade numbers will be supportive.
Angel Commodities' report on Copper
LME Copper prices traded flat yesterday to close at $6898.5/t as global risk aversion following latest missile test by North Korea on Sunday kept investors at bay. However, sharp decline was restricted as dollar weakened sharply after ECB President Draghi signalled a near end to its cheap monetary policy. Draghi said that ECB is working on idea to wind up its easy money policies, an enormous stimulus program aimed at promoting growth and inflation in the Eurozone.
LME Copper prices are currently trading higher by 0.4 percent at $6924/t. Copper prices are likely to trade higher today as weaker DX post ECB statement and favourable Chinese trade numbers will be supportive.
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