As the copper market continues to captivate investors, the recent surge in copper prices has sparked discussions among traders and hedge fund managers about whether the rally has extended beyond reasonable bounds. In this article, we delve into the dynamics shaping the copper market and present a compelling case for a potential downward correction in prices.
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Japanese authorities are suspected to have intervened in the foreign exchange (FX) market today, with the USD/JPY pair experiencing significant fluctuations. The pair reached 160.0 around 02.30am BST before dropping to 159.40 and then plummeting to 105.0, marking nearly a 3% decline.
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Copper prices surged further on Thursday, driven by fund activity following BHP's significant bid for Anglo American, spotlighting the copper market's allure. Analysts observed a focused interest in copper within BHP's bid, propelling market optimism.
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The landscape of the crude oil market is continually shaped by a myriad of factors, from inventory shifts to geopolitical tensions. In this article, we delve into recent developments and their impact on oil prices and market sentiment as well as take a closer look at the CoT positioning and seasonal tendancies.
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