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Macroeconomic Problems Are Mixed

2011/7/14 10:11:00 43

Affected by the mixed global macroeconomic news, the fund is in the vicinity of its closing point.

London Metal Exchange (LME) copper futures closed 13 days, 13 afternoon mixed trading session ended, LME 3 month copper closed at the same time, closed at 9650 U.S. dollars / ton.

After Bernanke's speech, the futures rose to a 5 day high of 9749.75 US dollars / ton.

Copper futures initially rose with other commodities, because Bernanke, chairman of the Federal Reserve (Fed), testified to the House Financial Services Committee, "the possibility of economic weakness is longer than expected, and deflation risk may be resurgence, suggesting that there is a need for more monetary policy support."

But the rise quickly lost kinetic energy, because investors felt that if needed further

Relax policy

It means that the economic situation is not as good as expected.

Worries about the spread of the eurozone sovereign debt crisis increase the second quarter of the world

economic growth

The slowdown may turn into a two recession.

The euro zone leaders held a summit to study the second round of assistance to Greece, which was challenged by Germany on the 13 day. Moodie lowered the Irish rating to the junk level.

China's strong GDP data eased recent worries that China's monetary tightening policy could lead to a hard landing and curb commodity demand.

Domestically, the Shanghai copper rose sharply yesterday. China's economic data are stronger than expected and the US may further relax.

monetary policy

The anticipation stimulated the market to become more popular, and copper prices re established on the 5 day moving average and set a new rebound in the near future.

On the technical side, after the Shanghai copper successfully broke through 72000, the later rising space was opened again, and the next target was 74000.

Overnight copper closed flat, it is expected that the Shanghai copper will remain high and volatile.

On the spot side, Shanghai metal net copper spot quotation is 71450 - 71750 yuan / ton, up 500 yuan / ton compared with 12 days, and spot futures 225 discount.

Spot trading, Shanghai copper high and high, the copper price is high, the market is difficult to accept, even though the expansion of the discount is also less, there are fewer actual pactions, and the shipper volume has weakened, on the one hand, the market is weak and strong, and the long-term value insured sets are unable to ship. On the other hand, the big sticky water also makes them heartache reluctant to sell, the market presents the situation of supply and demand is difficult and two weak.