No 1 source of global mining news and opinion
Copper rose to its highest level since mid-July a day after the Federal Reserve announced an aggressive interest cut of half a percentage point to stimulate the US economy and the labor market.
The half-point cut unveiled by Fed Chair Jerome Powell is “beneficial to expectations for a soft landing in the US,” Everbright Futures Co. said in a note, adding that fundamentals for copper were gradually improving. “The increase in the medium-term outlook for rates should come as a positive, with metals highly sensitive to factory activity and overall economic growth,” ANZ Group Holdings said in a note.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed meeting live updates: Fed lowers interest rates by half point, its first cut since 2020The Federal Reserve slashed interest rates by 50 basis points at the conclusion of its September policy meeting.
Read more »
Fed's Goolsbee: There is an overwhelming Fed consensus for multiple rate cutsFederal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market's view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September.
Read more »
Fed’s Daly: Fed needs to cut policy rate because inflation is falling, economy is slowingOn Thursday, San Francisco Federal Reserve President Mary Daly said that the “Fed needs to cut policy rate because inflation is falling and the economy is slowing.” Additional comments On size of Sept Fed rate cut, 'we don't know yet'.
Read more »
Bank of America forecasts copper price above $10,000, iron ore price below $80 by 2025No 1 source of global mining news and opinion
Read more »
Copper Facing Historic Price Decline if Support FailsCommodities Analysis by Chris Kimble covering: Copper Futures. Read Chris Kimble's latest article on Investing.com
Read more »
Goldman cuts copper price forecast by $5,000 as bullish bet closedNo 1 source of global mining news and opinion
Read more »