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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
COMMODITIES
- Li Keqiang index shows that China economic activity continued to decelerate in May; the index peaked in February, which corresponds to the high reached in equities.
- As we have previously seen, the chart below shows that the deceleration in Chinese economy (combined with the contraction in 'liquidity') could be a challenge for copper in the coming months.
- Copper peaked on May 10 and has consolidated by 12% since then; the industrial metal is currently trading slightly above its 100D SMA (425), next important support to watch on the downside stands at 400, followed by 381.40 (38.2% Fibo of 2020/2021 low high range).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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