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Tag Archives: copper

Copper Rises 1% Amid Weaker US Dollar, Fund Bullishness

Copper futures topped the $3.60 threshold on Tuesday as the industrial metal found additional support from institutional investors and funds. After a little bit of profit-taking, investors are beginning to make fresh bets to start 2021, anticipating the red metal to outperform gold this year. March copper futures advanced $0.0495, or 1.39%, to $3.614 per pound at 16:13 GMT on Tuesday on the COMEX division...

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Commodities Week in Review: January 4 to January 8

Commodities Week in Review: January 4 to January 8 Agriculture  Agricultural commodities were a mixed bag during the first trading week of 2021 as a strengthening US dollar weighed on many crops. But output levels and tighter inventories supported agricultural products, like corn and soybeans. After a roaring 2020, can the broader agriculture market continue the momentum in 2021? Cocoa  Friday Settlement: -$12.00, or 0.48%, to $2,504 per metric ton Weekly Performance: -3.58% YTD Performance:...

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Commodities Week in Review: December 28 to January 1

Commodities Week in Review: December 28 to January 1 Agriculture  Despite being relatively quiet in the broader financial markets, agricultural commodities continued to end 2020 on a high note, adding to their annual totals. The commodities market has had its best yearly performance in about six years, thanks to a mix of a weakening US dollar, strong fundamentals, and a coronavirus pandemic that has enhanced demand. The consensus is that agriculture will have an even stronger 2021 due...

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The Doctor Is In?

Gold’s not buying. Neither is the bond market. Inflation Hysteria #2 has so much less to it than #1 in 2017-18 ever did. But this one isn’t completely empty. There are some asset classes which have been absolutely on fire thus seemingly consistent with the “money printing” excesses of Fed and feds. Investors fearing for currency “debasement” and fiscal breakdown by piling into real and tangible assets in an obvious way.Just not gold. Other commodities, however, particularly copper.They call...

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Commodities Week in Review: December 21 to December 24

Commodities Week in Review: December 21 to December 24 Agriculture  US agriculture had another strong weekly performance, despite a rising US dollar. The agricultural commodities market was looking to build on its overall momentum this year in the home stretch of 2020, buoyed by strengthening foreign demand and declining output and supplies at home and abroad. Investors are betting on a repeat performance...

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Tactical Update: Long-Term Trends

Note: There are a lot of charts in this post. That doesn’t mean that we are technicians. We use charts because we are primarily interested in trends, especially long-term, big-picture trends. And charts are the easiest way to present that information. In general, you will want your tactical adjustments to respect the long-term trend. There are times when it makes sense to position for a reversal but only at extremes. Stocks S&P 500 The trend here is pretty obvious, although there...

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Commodities Week in Review: December 14 to December 18

Commodities Week in Review: December 14 to December 18 Agriculture  Strengthening demand, a weaker US dollar, and potential supply issues contributed to agriculture’s impressive week. The biggest news in the agricultural sector was China’s ballooning consumption for soybeans, which allowed the crop to climb to its best level since early 2014. Wheat also captured international headlines for Russia slapping a tax...

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Copper Finds Support on Strong Chinese, US Industrial Output

Copper futures are trading sideways on Tuesday as the industrial metal looks to test its best level since January 2013. Copper prices found support on strong factory data coming out of China, as well as a weakening US dollar. The consensus on Wall Street is that copper prices still have more room for growth. January copper futures rose $0.0125, or 0.35%, to $3.539 per pound at 16:53 GMT on Tuesday...

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Commodities Week in Review: December 7 to December 11

Commodities Week in Review: December 7 to December 11 Agriculture Gains in the agricultural commodities market were mixed this week, potentially because of a greenback. The US Dollar Index, which measures the greenback against a basket of currencies, rose 0.3% this week. A stronger buck is bad for dollar-pegged commodities because it makes it more expensive for foreign investors to purchase. Despite the subdued week,...

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Metals Trade in Red Ahead of ECB Monetary Policy Meeting

Metals logged losses today, with copper managing to keep the fall very small, while precious metals demonstrating a very significant decline. There were several possible reasons for the decline. Optimism about the coronavirus vaccine limited demand for precious metals in their safe-haven capacity, while industrial metals suffered from a report that China fell into deflation unexpectedly. The US dollar firmed on the back...

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