- The president of the Central Bank of the United States, Jerome Powell, ruled out future growth of 75 basis points, which earlier sparked excitement in trading.
forward contract copper Today closed with a fall amid cautionary mood in the financial markets investors Re-evaluation of the Federal Reserve’s decision (irrigated, the US central bank) will increase interest rates by 50 basis points tomorrow. strength of Dollar Put pressure on quotations abroad.
On Comex, the metals division of the New York Mercantile Exchange (Nymex), copper ended the session down 1.07% at US$4.2915 per pound, with delivery scheduled for July. Copper was down 0.13% at US$9,498.00 a tonne for three months at around 2:10 pm (GMT) on the London Metal Exchange (LME).
The Fed accelerated the process of monetary tightening with a hike in the benchmark interest rate by half a percentage point. fees, after a 0.25% increase in March. president of BC WeJerome Powell ruled out future growth of 75 basis points, which initially sparked business enthusiasm.
However, risk appetite reversed this morning as markets focus on countering the Fed inflation, In this scenario, the dollar registered a stronger appreciation than rivals and helped limit the impetus to rebound. GoodsBy making them more expensive for holders of other currencies.
Commerzbank points out that the metals were getting some support from news in the Chinese press that the country’s government intended to adopt more stimulus measures to stem the economic slowdown, without compromising efforts. COVID-19, “Concrete measures should be taken in the coming weeks to strengthen the economy”, expects the bank.
Among other metals traded on the LME, at the time quoted above, a tonne of aluminum fell 1.89% to USD 2,928.50; Lead fell 0.79% to US$2,272.00; Nickel yields 1.91%, at US$30,030.00; Tin fell 0.26% to US$40,600.00; And zinc fell 1.96% to USD 3,892.00.