Is the PBOC about to cut rates?
Copper took a big step up this week and is back to its best levels since May.
You can muster a multitude of reasons, especially on a day when the S&P 500 is up 69 points to 4432. Covid is fading and governments are not cutting spending. In the long run, massive spending is happening on green energy and it’s a direct game on copper.
In the short term, however, the timing is still curious.
This is something to keep in mind for copper, Chinese stocks and commodity currencies as well as all of the global trade risks.
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