Market vs. Federal Reserve3Expectations for monthly action

Huitong Network2month28Daily News - Tuesday(2month28day)Shanghai copper main contract closed slightly lower0.27%Report47740element/Tons, overall stabilizing, investors are waiting for US President Trump's speech to clarify his economic policies. At the same time, supply concerns from large mines in Chile and Indonesia continue to provide copper price support, but above5Daily moving average48056The resistance around the yuan still puts pressure on copper prices.

In terms of fundamentals, the current market focus is on Beijing time3month1Day morning10:00US President Trump's speech in Congress aims to gather clues on tax reform and infrastructure spending.

White House spokespersonSean SpicerThe theme of the speech will be the revival of the American spirit. The speech will focus particularly on public safety, including national defense, strengthening border security, and caring for veterans; Then comes economic opportunities, including education, vocational training, healthcare reform, employment, taxation, and regulatory reforms. It is expected that Trump will also discuss his budget arrangements, including increasing military spending and significantly reducing federal government spending, as well as other related issues.

Huitong warned that investors should also pay attention to the speeches made by officials of the Federal Reserve. If they continue to make hawkish speeches, they may boost the market's interest in the Federal Reserve3The expectation of taking action on a monthly basis will provide support for the US dollar, thereby putting pressure on copper prices.

However, the world's largest copper mine--ChileEscondidaThe copper strike seems to be far from over. The union has denied that it has returned to the negotiating table and continues to work with mining company BHP BillitonBHP Billiton Report on negotiations. The interruption of supply is still providing support for copper prices.

In terms of technology, daily level Shanghai copper is still hovering near the middle track of the Bollinger Line, and there are signs of falling below the upward trend line. The short-term downside risk is still significant, so pay attention to it60Daily moving average46924element/Tons, nearby resistance. If this position is missed, copper prices will further fall towards the Bollinger Line's lower track45691Near Yuan; But if60The daily moving average support is effective, and there is still a chance for short-term copper prices to rebound slightly. Attention from above1Month high point48390Resistance near the yuan.
Federal Reservehttp://news.fx678.com/news/keywords/fed.shtml