

Copper prices dip with fear of U.S. recession

Copper (Symbol: Copper-C) prices began the week with a softer tone, reflecting ongoing global economic uncertainties. Early trading saw three-month copper prices drop. Copper, often seen as a bellwether for the global economy, has been under pressure recently due to fears of a US recession. These concerns triggered a sharp sell-off in financial markets last week, leading to a dip in copper prices. However, sentiment improved slightly after US data showed a larger-than-expected drop in new unemployment benefit applications, suggesting some resilience in the US labour market. Read more to find out how will copper trend.

how will copper trend

Disclaimer:

Such mixed economic signals from the US and China suggest that copper prices could experience further volatility in the near term, creating opportunities for scalping. The recent dip in copper prices could also encourage buying interest, particularly if China’s data shows signs of stabilising demand. Risk management is advised to complement these releases closely for further indications of market trends.

Publication date:

2024-08-19 07:53:08 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.