segunda-feira, 17 de julho, 2017

Copper operates in high light, helped by weaker dollar

Copper futures contracts operate in high on Friday morning, boosted by the falling dollar, amid expectations of a slower path to high interest rates in the United States. Around 7:50 (Eastern), copper for three months climbed 0.10%, to $ $5,880.00 per tonne. The metal contract for delivery in September advanced 0.30%, to $ $2.6695 per pound, on the Comex metals Division of the New York Mercantile Exchange (Nymex), at 8:00. This week, the Federal Reserve (the Fed, the U.S. central bank), Janet Yellen, said on Thursday that the recent deceleration in inflation is transitory, but said the institution would continue to view recent u.s. data, which raised the prospect that the Fed may take longer to raise interest rates in the United States. With the weakening of the dollar, the base metals tend to move, since they are quoted in us currency and become cheaper for investors operating in other currencies. There is now an expectation about the American economy that data will be released on Friday: retail sales and the consumer price index (CPI). "This is important, since all will have an idea of how the interest rates will follow from now on," said Eugen Weinberg, commodity Research Director of Commerzbank. In addition, investors monitor a labor dispute with the Antofagasta in the mine, Barrick Gold''s Zaldívar Corp., where workers agreed to extend the wage negotiations, according to analysts at ING Bank. The supply disruptions due to labor disputes, helped to raise the prices of the metal this year. Among other base metals on the LME, zinc fell 1.38%, to $ $2,760.00 per tonne; aluminum operated stable, at $1,923.50 per tonne; Tin retreated 0.38%, to $ $19,825.00 per tonne; nickel climbed 2.01%, to $ $9,375.00 per tonne; and lead lost 0.81%, to $ $2,273.00 per tonne.
Infomet - 17/07/2017 Noticia traduzida automaticamente
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