Copper Fundamental Analysis – Forecast for the week of September 19, 2016

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Published: Sep 17, 2016, 06:51 UTC

Copper ended at 2.158 as Chinese data leaves the markets unsure. Copper is up 3.35% for the week. copper prices are trading lower by 0.3 percent today at

Copper Fundamental Analysis – Forecast for the week of September 19, 2016

Copper ended at 2.158 as Chinese data leaves the markets unsure. Copper is up 3.35% for the week. copper prices are trading lower by 0.3 percent today at $4765 per tonne as risk appetite is limited ahead of crucial central bank meetings from the US and Japan next week. Besides, supply remains high as Peru’s Energy and Mines Ministry showed the country’s copper output jumped to 207,867 mt in July of 2016, an almost 30% growth from last year’s production of 155,313 million tonnes. However, sharp downside was capped owing to low volatility citing Chinese weekend holiday.

Copper prices will likely sideways as investors will avoid commodities ahead of crucial FOMC statement. Also, volatility will be low as Chinese markets are closed for mid-autumn festival

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This Week’s Economic Events That You Should Be Monitoring:

Date	Country	Name	Volatility	Previous
9/20/2016	AUD	RBA Meeting’s Minutes	3
9/20/2016	CAD	BoC Governor Poloz	3
9/21/2016	AUD	Mid-Year Economic Outlook	3
9/21/2016	JPY	BoJ Interest Rate Decision	3	-0.1
9/21/2016	JPY	BoJ Monetary Policy Statement	3
9/21/2016	JPY	BoJ Press Conference	3
9/21/2016	USD	FOMC Economic Projections	3
9/21/2016	USD	Fed’s Monetary Policy Statement	3
9/21/2016	USD	Fed Interest Rate Decision	3	0.5
9/21/2016	USD	FOMC Press conference	3
9/21/2016	NZD	RBNZ Interest Rate Decision	3	2
9/22/2016	EUR	ECB President Draghi’s Speech	3
9/23/2016	AUD	RBA’s Governor Lowe Speech	3