Copper prices decline after facing barricades at around $3.60, DXY concludes correction – by Sagar_Dua24 Copper Fed Inflation DollarIndex China
After preferring inflation fix over lower growth forecasts by the Federal Reserve , the risk-off market mood has underpinned the DXY. The DXY is expected to recapture its two-decade high, recorded on July 14 at 109.29.
On the China front, the resurgence of Covid-19 cases has accelerated fears of a slowdown in the Chinese economy. Headlines from Reuters that China has reported 1,344 new asymptomatic coronavirus cases in the mainland on Aug 28 vs. 1,137 a day earlier has triggered lockdown fears to contain the spread. A tepid demand ahead may weigh pressure on copper prices.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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