Robust US data lifts the dollar while waning Chinese industrial activity opens up downside risks for copper
Source
Bearish Copper Outlook on Diverging US-China Data
access_timeOctober 18, 2024
Latest:
- PBOC Governor says 7-day reverse repo rate will be lowered by 0.2%
- PBOC has officially ramped up support for the stock market, relending facility launched
- PBOC Governor provides directions for stock buybacks
- PBOC sets USD/ CNY reference rate for today at 7.1274 (vs. estimate at 7.1267)
- PBOC says its necessary to increase support to the real economy
- PBOC is expected to set the USD/CNY reference rate at 7.1267. – Reuters estimate
- USD/JPY little changed after Japan’s September inflation data
- ICYMI – NBA forecast a Reserve Bank of Australia rate cut at the first meeting of 2025
- UBS see plenty more European Central Bank rate cuts, Dec & 2025. Euro has cyclical support
- RBC expect a cascade of European Central Bank rate cuts for the next six months+
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