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Zhou Liyuan copper market commentary (9.20-9.24)

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juicy lee 
Asked at 2011.06.07 01:46:04
Zhou Liyuan copper market commentary (9.20-9.24)
answer joy Green  Answered at 2011.06.07 01:46:04
Zhou Liyuan copper market commentary (9.20-9.24) data showed a seasonally adjusted basis, the U.S. August durable goods orders fell 1.3% monthly rate, to 1 **. 700 million U.S. dollars, the highest since August 2009 the largest decline expected to decline 1%. Also released in August on an annualized rate of new home sales were flat, the total number of 288 000 years into the expected 300,000, before the value of 288,000, in July revised rate of 7.7% for the month, the initial value was down 12.4%. Government of Spain lowered its fiscal 2009 budget deficit, and spending cuts in fiscal year 2010 of 7.9%. Irish finance minister said Friday, despite the decline in the second quarter GDP, but the Irish economy did not shrink. But he also acknowledged that Ireland's economic growth this year has been relatively slow. Thursday's data showed growth of 2.2% in the first quarter, the Irish second-quarter GDP, decreased 1.2%. French Ministry of Economy data showed on Friday, France in August to increase the overall number of 15,900 unemployed people, to 269.3 million, increased by 4.9% per annum, the monthly rate of increase of 0.6%, indicating that the euro zone's second largest economy in the job market remains fragile. Federal Reserve meeting Tuesday and decided to continue to expand the quantitative easing policy, will purchase from September 2014 to August 2016 due to debt. The mixed economic data also pressured the dollar, below the 80 mark, this week has fallen by 1.76%. Means the decline in the United States under the impetus of Copper & up 3 consecutive days, the firm above the 7900 from the previous high mark of 8 thousand one step. From the current macro-side, in fact, copper does not have the potential to break through previous highs, but with the United States refers to breaking under the 80 mark, and the air is still a huge amount of single holding, the United States refers to the downward price of copper will be form an effective support, but recently has been the increasing appreciation of the RMB, China, the world copper consuming country, with greater buying power is critical, boost market demand outlook for the copper market. However, due to the current Chinese real estate policy is unclear, and the energy reduction also affected the copper smelter, the copper demand outlook is still needed to boost the market can be verified, so concerned about the high points of early and effective resistance. Opening the domestic market is expected to impact 62,000 yuan may / ton in the vicinity, but should be general market transactions, the proposed downstream suspense waiting to see appropriate, or a small amount of procurement, production cycle to meet the National Day can be. Copper & rose 2.8% this week, hinted on Tuesday the Fed meeting will further the quantitative easing program, mixed economic data, the United States refers to boost copper prices below the 80 mark gains; China this week coincides with the Mid-Autumn Festival holiday, only two trading day, the market before the holiday stocking with caution, as copper prices near 8 thousand mark, temporarily effective waiting to see a breakthrough early platformi Yuen Statement: The above views are for reference only; accordingly operate your own risk. i Yuen statement: Liyuan exclusive edition for the information above, please indicate the source reproduced without consent reproduced without change, we reserve the right to pursue.
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