Free Trial
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
- Since its reached its peak on May 10, we have seen that copper front-month futures has been constantly reaching lower highs, rejecting its 100DMA at 439.80 this week.
- On one hand, China Li Keqiang Index, which could be considered as a proxy of the Chinese real economic activity, has been falling in the past 6 months and is clearing indicating further downside risk (top chart).
- On the other hand, the surge in the Baltic Dry Index, which some investors view as a proxy for world trade and therefore for the global economy, is currently pricing in further appreciation in copper prices (bottom chart).
- Momentum looks currently bearish from a technical approach; important resistance to watch on the topside stands at 447, which corresponds to the high of its LT downward trending channel.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok