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👉#Copper shot up 7.57% on 4th November 2022.
Do you know❔
👉When was the last time we saw such a wild move in copper❔
It was
🔸on 6th Feb 2009
When copper shot up 8.57% in a single day.
🔸So what happened on 4th was "Move of the Decade"🧵
👉Like & Retweet if u like d work
Do you know❔
👉When was the last time we saw such a wild move in copper❔
It was
🔸on 6th Feb 2009
When copper shot up 8.57% in a single day.
🔸So what happened on 4th was "Move of the Decade"🧵
👉Like & Retweet if u like d work
But why did copper rose like there is no tomorrow ?
- On optimism that there might be relaxation in China’s Covid policies
- A steep decline in the dollar
- Historical low inventory of copper
- On optimism that there might be relaxation in China’s Covid policies
- A steep decline in the dollar
- Historical low inventory of copper
Why is falling dollar good for copper ?
- A slumping dollar boosts purchasing power for commodities consumer countries like China.
- Yuan appreciated the most against USD since 2005.
- A slumping dollar boosts purchasing power for commodities consumer countries like China.
- Yuan appreciated the most against USD since 2005.
