Copper rallies on tariff pause – ING
Source Fxstreet
Copper and other base metals rallied in early morning trading today following President Trump’s 90-day tariff pause, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
Stimulus hopes support metal prices
"Clearly, though, there’s still plenty of uncertainty as tariffs against key metal consumer, China, have been raised to 125%. A prolonged trade war would drag on consumer confidence, weaken appetite for risk and weigh on demand for raw materials."
"However, the prospect of a prolonged trade war has also raised expectations for Beijing to unveil more aggressive stimulus measures. This could cap the downside to copper and other industrial metals."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
President Donald Trump nominated Dr. Stephen Miran, the White House Council of Economic Advisers chair, to fill a vacant seat on the Federal Reserve Board of Governors.
The Japanese Yen (JPY) kicks off the new week on a weaker note and seems vulnerable to prolong its retracement slide from the highest level since July 7, touched against a broadly firmer US Dollar (USD) last Wednesday.
Gold (XAU/USD) struggles to capitalize on Friday's move higher and oscillates in a narrow trading band below the $3,700 mark at the start of a new week.
Crypto markets experienced turbulence over the past 24 hours, with over $630 million in leveraged positions liquidated, 89% of which were long positions—highlighting overly bullish positioning.
Gold bounced up from the $3,630 area on Friday and is extending gains on Monday, supported by a cautious market mood and hopes of further Fed easing.
Related Instrument
