Expect Copper prices to trade lower today: Angel Commodities
According to Angel Commodities, We expect MCX copper prices to trade lower today. Also, Chinese growth remains a major cause of concern with the list of disappointing data releases.
Angel Commodities' report on Copper
LME Copper prices traded flat at $5611/t as political tensions in the US are weighing on the DX, thereby boosting dollar denominated commodities. DX fell to the lowest levels since November 2016 after news reports that Trump shared some intelligence information with Russia’s foreign minister and ambassador in a meeting last week.
LME Copper prices are currently trading lower by 0.7 percent at $5574/t. Prices are expected to trade lower today as global investors are highly cautious about the developments in the US after reports that President Trump has asked FBI Director James Comey to drop investigation into Trump's former national security advisor. Also, Chinese growth remains a major cause of concern with the list of disappointing data releases. We expect MCX copper prices to trade lower today.
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