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Iron Ore, Copper: Sparks fly as China sets stage for super stimulus

Iron ore and copper shine as China hints at supercharged stimulus, sparking a metals rally hotter than a blast furnace. With CEWC still ahead, could this be just the start of an electrifying run higher?

Downwards trend with red arrow

Silver, copper teetering: Bearish breakouts looming?

Can silver and copper hold their ground, or are sharper declines on the horizon? The price action suggests a resumption of the bearish trend could be in the cards.

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November 21, 2024 01:08 PM
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USD/CNH, Iron Ore, Copper: China stimulus pivotal to counteract domestic weakness, Trump tariff threat

Traders are eyeing China’s stimulus announcement on Friday. Will it be substantial enough to counter weak growth and Trump’s looming 60% tariffs? The market reaction for USD/CNH, iron ore and copper hinges on the detail.

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AUD/USD, iron ore, copper, silver wilt as China’s stimulus bazooka turns out to be a peashooter

Iron ore, copper and silver, along with the Australian dollar, were among the markets hardest hit by China’s latest stimulus announcement, falling heavily as it became clear the objective of policymakers is to stablise growth, not see it accelerate meaningfully as seen in other state interventions of the past. The “bazooka” many headlines and bullish narratives were based upon ended up being yet another peashooter.

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Dow Jones, copper, crude oil, AUD/USD trade setups ahead of nonfarm payrolls

Cyclical asset classes have performed well recently, benefitting not only from ongoing hopes for a soft landing for the global economy but also expectations for substantially lower interest rates and a weaker US dollar. But what if markets, collectively, are wrong about the outlook again like were at the start of the year? We look at the implications for the Dow Jones Industrial Average, copper, crude oil and the Aussie dollar.

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China markets stimulus special: Copper, iron ore, Hang Seng, A50 trade setups

We’ve seen plenty of short squeezes before that have quickly run out off puff. But with speculation swirling that policymakers may follow up Tuesday’s monetary policy easing with fiscal stimulus ahead of Golden Week holidays, that alone may be enough to promote further gains in the days ahead.

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Gold, silver, copper: September cranks up the vols for heavy metals

Gold, silver and copper were dragged lower with appetite for risk on Tuesday, although it may be the latter two which show the greater potential for bears going forward.

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September 4, 2024 12:39 PM
Quarry and various stones

Copper bulls and bears should watch the near-term price action closely

COMEX copper is one of the most interesting charts out there right now, providing something for bulls and bears depending on how the near-term price action evolves. Whichever way the price breaks, you get the feeling the move could easily extend, potentially providing decent trade opportunities for those with a little patience.

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August 23, 2024 02:33 PM
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Gold, silver, copper: A dovish Fed hold be just the ticket for bulls

Bond traders are stepping back into the market on bets that the Fed will deliver a dovish hold today, which weighed on the US dollar and supported gold, silver and copper ahead of today’s FOMC meeting.

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July 31, 2024 12:16 PM
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Stabilisation in commodity, US stock futures bode well for AUD/USD longs

AUD/USD has equaled its longest losing streak since August 2019, hammered by deteriorating sentiment towards the outlook for the Chinese economy and investor risk appetite, especially towards big tech. But with signs of stablisation in commodity and US stock futures, the grounds for a squeeze higher are growing.

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July 26, 2024 10:17 AM
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AUD/USD and copper slump for a 6th day, ASX 200 regains balance

AUD/USD tracked copper prices lower for a sixth day, during its worst day in six weeks. Whilst both markets shows the potential for further losses, these may not be the ideal levels for bears to enter.

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AUD/USD, copper dragged lower with sentiment, higher US dollar

It has been a turbulent 24 hours for markets with Wall Street indices extending losses, dragging AUD/USD and copper prices lower.

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July 19, 2024 11:53 AM
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Gold, silver, copper could break to new highs if Powell, CPI allow

Key risk events this week include Jerome Powell’s testimony to the Senate Banking Committee on Tuesday and a CPI report. Should Powell strike a dovish tone and CPI data come in soft, gold, silver and copper could be poised to rally.

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July 8, 2024 01:13 PM
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US dollar index breaks higher, triggering reversal warnings for gold and copper

Gold and copper were looking good until late Friday, bouncing strongly on Thursday following recent weakness, the former talking out key levels in the process. Then along came the latest US Composite PMI report from S&P Global.

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June 24, 2024 10:08 AM
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Hang Seng, copper rout reverses course, turning point in the making?

Hang Seng's strong correlation with COMEX copper and SGX iron ore futures over the past month suggests many traders are using it as a mechanism to speculate on the outlook for Chinese industrial activity, especially the housing market.

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June 19, 2024 03:27 PM
Molten metal

Iron ore, copper crumble as China’s property downturn worsens

Given significant uncertainty towards the demand outlook, it may be preferable to let the price action tell us what to do rather than pre-empt on fundamental grounds.

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June 17, 2024 04:05 PM
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Gold, copper, silver forecast: Metals drop on NFP, China concerns

Concerns over China and a hot labour market report in the US caused metals to fall sharply. However, the long-term gold forecast remains positive despite the recent struggles, even if prices were to weaken further in the short-term outlook.

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Crude oil, copper: Bullish China data offers relief for battered commodities

China’s services sector strengthened in May, boosting Chinese equity markets and providing some respite for commodities such as copper and WTI crude oil.

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Gold, silver, copper: Tracking the damage from the late May metals rout

It’s been a wild ride for commodities in May with many names who started the month in beast mode ending it with a whimper. Some have broken down technically while others are threatening to do so. Ahead of inflation data from the United States, Eurozone and Japan on Friday, we look at messaging from the charts for gold, silver and copper.

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May 31, 2024 09:40 AM
Gold nuggets

The mild rebound for gold and copper wreaks of a dead-cat bounce

Gold and copper have made mild attempt to recoup last week's losses, which puts us on alert for a potential 'dead cat bounce'. Whilst silver’s rebound has been much more impressive, resistance looms.

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Crude oil, copper bounce as commodity rally resumes before US inflation report

The rout in commodity prices didn’t last long, as expected, with dip buyers emerging late last week to take advantage of better entry levels. Crude and copper look particularly constructive following the recent bounce.

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May 28, 2024 09:38 AM
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Gold, silver, copper hit by higher rates, stretched positioning, bias remains to buy dips

Metals markets finally succumbed to the higher rates, stronger US dollar environment on Wednesday, with vulnerabilities evident earlier in the week finally materialising. But the underlying factors behind the rally have not gone away, making us inclined to continue buying dips.

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May 23, 2024 09:53 AM
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USD, CAD, Gold, Copper, VIX, Wall Street analysis: COT report

Asset managers reached a record level of net-short exposure to VIX futures, days before prices fell to a record low. Traders also remain net-long USD despite losses in recent weeks.