In opinion of Researchers at UOB Group in the Quarterly Global Outlook, Copper could be posed for further weakness in the near term. Key Quotes “Copper is a key lit mus commodity for the health of the global economy and is of course not spared by the growth slowdown. As Chi na’s manufacturing PMI drifted back be low the expansionary 50 level, the 3M LME Copper also fell as scripted below the USD 6,000 / MT level. Thereafter, despite our cautious expectations of fur ther weakness towards the USD 5,500 / MT level, 3M LME Copper appeared to be consolidating around the USD 5,800 / MT level instead”. “Overall, while there is widespread diver gence in the industrial metals complex, we continue to see on-going weakness in 3M LME Copper, mainly due to global growth risks. As such, we see 3M LME Copper pulling back to USD 5,600 / MT in 4Q19, USD 5,400 / MT in 1Q20 and USD 5,200 / MT across 2Q and 3Q20″. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next White House adviser Kudlow: Could be some positive surprises coming out of US-China trade talks FX Street 3 years In opinion of Researchers at UOB Group in the Quarterly Global Outlook, Copper could be posed for further weakness in the near term. Key Quotes "Copper is a key lit mus commodity for the health of the global economy and is of course not spared by the growth slowdown. As Chi na's manufacturing PMI drifted back be low the expansionary 50 level, the 3M LME Copper also fell as scripted below the USD 6,000 / MT level. Thereafter, despite our cautious expectations of fur ther weakness towards the USD 5,500 / MT level, 3M LME Copper appeared to be consolidating… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
