{"id":60509,"date":"2014-09-17T09:00:59","date_gmt":"2014-09-17T13:00:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=60509"},"modified":"2014-09-17T10:02:57","modified_gmt":"2014-09-17T14:02:57","slug":"copper-gains-on-china-stimulus-news","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/copper-gains-on-china-stimulus-news\/","title":{"rendered":"Copper Gains on China Stimulus News"},"content":{"rendered":"
September 17, 2014<\/div>
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By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Copper futures was seen rising on Wednesday, trading near a one-week high after a report showed that China\u2019 central bank\u2019s supported boosting the economy growth by injecting neatly $82 billion into five of the nation\u2019s biggest banks.<\/p>\n

The People\u2019s Bank of China (PBOC) will funnel 500 billion yuan into five of the country\u2019s biggest banks, according to reports. Meanwhile, in the US, the Federal Reserve is expected to a release a policy statement following its two-day policy meeting.\u00a0<\/span><\/p>\n

Copper futures for the delivery in three months rose 0.5% higher to $6.936 a metric ton at the time of writing on the London Metal Exchange. While the contract for December delivery slid 0.5% lower to $3.149 a pound on the Comex in New York.<\/p>\n

Copper stockpiles monitored by the London Metal Exchange lost 0.6% to 155,400 tons, according to data. Orders to take the metal from warehouses dropped by 2.4% t0 39.025 tons.<\/p>\n

On Tuesday, the Chinese banks stimulus boosted copper futures as high as 4.1%, the largest intraday increase since May 2013. China is the world\u2019s largest consumer and accounts for almost 40% of global demand. However, despite the recent boost from the Chinese stimulus, copper is expected to slightly fall in late 2014 and 2015.<\/p>

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“We’re modestly bearish on copper for the fourth quarter. The driver for that is that there’s a bit of supply surge that’s happening in 2014 and 2015,” said analyst Daniel Morgan of UBS.<\/p>\n

Meanwhile, futures for Gold for December delivery rose 0.14% higher to trade at $1,238.40 per troy ounce. Silver for immediate delivery edged 0.4% lower to $18.6405 an ounce and Platinum was traded flat at $1,367 an ounce.<\/p>\n

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The post Copper Gains on China Stimulus News<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Copper futures was seen rising on Wednesday, trading near a one-week high after a report showed that China\u2019 central bank\u2019s supported boosting the economy growth by injecting neatly $82 billion into five of the nation\u2019s biggest banks. The People\u2019s Bank of China (PBOC) will funnel 500 billion yuan into five […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-60509","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=60509"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/60509\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=60509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=60509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=60509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}