No metal buying programs in the near future – TDS
Source Fxstreet
CTAs are being whipsawed in Copper and Aluminum following President Trump's dampened tone with respect to tariffs on China, TDS’ Senior Commodity Strategist Daniel Ghali notes.
Trump's tone shrinks the number of Copper and Aluminum CTAs
“The stronger price action overnight is likely to catalyze notable algo buying activity in the red metal, but the set-up for algo flows still doesn't look great with our simulations of future prices suggesting that no scenario for price action over the coming week will attract subsequent buying programs.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Trump declares Greenland tariffs void; crypto market quickly reverses losses to gains, with Bitcoin expected to continue its rebound higher.During the early hours of Thursday (January 22)
President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.
The Australian Dollar advances against the US Dollar (USD) on Thursday, following the seasonally adjusted employment data from Australia, which strengthens expectations of tighter monetary policy from the Reserve Bank of Australia (RBA)
Related Instrument
