Freeport-McMoran (FCX) CEO said copper demand is much stronger than headline economic data would indicate and fundamentals in the copper market are positive despite frequently expressed concerns about a global economic slowdown.
US Senate voted to block sales of US oil reserves to China, according to Bloomberg.August 2nd), according to Reuters sources. OPEC+ moved the online panel a day later to August 3rd (prev.Crude was firmer on what was a choppy session amid mixed data, dollar strength and a ramp in Chinese oil imports.JPY was pressured against the dollar with USD/JPY lifted above 140.00 by widening yield differentials.GBP extended on declines with GBP/USD now at a sub-1.2900 level, while the focus turns to UK Retail Sales.EUR suffered against the firmer dollar which dragged the single currency beneath the 1.1200 handle.USD strengthened and the DXY climbed to just shy of the 101.00 level following the initial jobless claims data which fell to multi-month lows and was accompanied by a jump higher in US yields and the risk aversion across stocks.
US Treasuries were heavily pressured ahead of supply and after low initial jobless claims data although the curve unwound its initial flattening bias as the front end recovered somewhat.US Continued Jobless Claims 1.754M vs.US Existing Home Sales (Jun) 4.16M vs.US Philly Fed Business Index (Jul) -13.5 vs.
Adobe stock its secondworst day past pro#
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