Copper

Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this edition of Technical Tuesday, we will analyse the S&P 500, copper and EUR/USD.

Ahead of key central bank decisions, markets associated with China doing relatively well following news that top leaders in China indicated more support for the real estate sector. We have seen a big move in copper and other metal prices, with crude oil, yuan and Aussie all also pushing higher. So, in this edition of Technical Tuesday we will provide analysis on the AUD/USD outlook, as well as the USD/CNH and copper.

Copper is benefiting from a weaker US dollar and China re-opening

The correlation coefficient between Copper and USD/CNH is -0.83. As long as this correlation is below -0.80, USD/CNH could be used as a proxy for copper.

The situation is escalating, and people don’t want to be caught offside with the weekend fast approaching.

Copper has a huge range of applications across industries, which is why traders use it as a benchmark for economic health. Learn how to trade copper futures and copper mining stocks to take advantage of changes in the metal’s price.

The most traded commodities are energy sources like oil and gas, plus metals such as gold and agricultural products. Here we break down the top ten most traded commodities and explain how each one is traded.

fears over growth intensified after China postponed the release of its GDP and industrial production figures

With more manufacturing due out later in the week, traders need to watch Dr Copper to help gauge the health of the economy. If copper continues its move lower, watch for AUD/USD to move lower with it!

The Federal Reserve (Fed) is the central bank of the United States and operates under a dual mandate to effectively promote the goals of maximum employment while maintaining price stability.

Weakness in China, stagflation across the world and rising prices hurt demand

Technical analysis on some of the most interesting markets right now

More than 2 years into the pandemic and Covid is still roiling financial markets.

Covid reared its ugly head again on economic data, which saw China’s service PMI contract at its fastest pace since the pandemic.

It’s been a violent start to the week as the Russian/Ukraine conflict intensifies and news that the Biden administration and its allies are discussing an embargo of Russian oil. This article discusses what the spillover from the weekend’s events means for gold and copper.

Bullish exposure continues to fall for the US dollar despite the Fed on the cusp of beginning their rate-hike cycle.

In 2021 the key driver of gold was movements in real yields and the U.S. dollar. However, in late November, evidence emerged that this was no longer the case.