Copper price stays firmer on stimulus hopes, softer DXY – by anilpanchal7 Copper RiskAppetite China Metals Recession
Cautious optimism weighs on the US dollar, underpins hopes of recovery in metal’s market.Copper prices extend the latest recovery moves, picking up bids to 3.4578 during the three-day uptrend ahead of Tuesday’s European session.
In doing so, the red metal cheers the market’s firmer sentiment and expectations of more stimulus, especially from China. Also keeping the metal buyers hopeful is the softer performance ofWhile portraying the mood, the US 10-year Treasury yields rise 2.5 basis points to 3.21% whereas the S&P 500 Futures extend the week-start recovery to 3,943, up 0.50% intraday by the press time. Further, the market’s consolidation also allowed the DXY to retreat from the 20-year high to 109.
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