Copper Weekly Fundamental Analysis – December 21- Christmas, 2015 – Forecast

Weekly Analysis and Recommendations:

Copper recovered in the latter half of the week at 2.109 as commodities recovered a bit on Friday. A climb in US housing helped support the metal. Copper ended the week at an 0.5%.  Analysts said copper prices fell in line with a weak trend in base metals pack at the London Metal Exchange (LME) as investors refocused on poor demand, following gains made in the wake of the US Federal Reserve’s hike in rates for the first time in nearly a decade.  Besides, low demand from domestic industries had a negative impact, they said.

Glencore is higher on some optimism that the debt cuts will keep the wolf from the door in terms of the company credit rating. Spot copper prices would need to hold at current levels for this to hold true. Although it is possible that Glencore will need to do more should commodity prices continue to sink.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Major Economic Events for the week:

 

 

Upcoming Government Bond Auctions

Date Time Country 

Dec 23 17:30 Italy Announces details of CTZ on 29 Dec, plus BTP/CCTeus on 30 Dec

Dec 23 17:30 US Holds 2-year FRN auction

Dec 28 19:00 US Holds 2-year auction

Dec 29 11:10 Italy Auctions CTZ

Dec 29 n/a UK Announces details of Gilt auction on Jan 05 & 07

Dec 29 19:00 US Holds 5-year note auction

Dec 30 11:10 Italy Auctions BTPs/CCTeus

Dec 30 19:00 US Holds 7-year note auction