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The Wall Street Journal reported that copper prices saw a jump on Tuesday after a boost from a weaker US dollar and optimism over China’s economy. As quoted in the publication: Copper futures rose 2.3% to $2.22 a pound on the Comex division of the New York Mercantile Exchange in recent trading, according to FactSet …
The Wall Street Journal reported that copper prices saw a jump on Tuesday after a boost from a weaker US dollar and optimism over China’s economy.
As quoted in the publication:
Copper futures rose 2.3% to $2.22 a pound on the Comex division of the New York Mercantile Exchange in recent trading, according to FactSet data, giving copper a nearly 4% gain on the year.
Investors attributed the move both to a weaker greenback, which makes dollar-denominated copper cheaper to buy for holders of other currencies, as well as some optimism regarding economic growth in China. The WSJ Dollar Index, which measures the currency against a basket of 16 others, was down 0.5% in recent trading. Meanwhile, China’s Shanghai Composite Index ended the day up 0.3%.
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