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MTECHTIPS:-Copper Choppy After Recent Recovery

Monday, September 25, 2017 2:24

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MTECHTIPS:-Copper Choppy After Recent Recovery

MTECHTIPS-Copper elevated after the metal slipped to its four week low last week. However, the broad worries in equities are keeping upside limited too. Asian markets are mostly lower today. Traders eyed global concerns amid an escalating war of words between North Korean leader Kim Jong Un and President Donald Trump. COMEX Copper is down 0.24% at $2.94 per pound right now. MCX Copper should also ease a bit in early moves following this. Copper was steady in last session. Eurozone’s private sector expanded at the fastest pace in four months in September signaling that the economy ended the third quarter on a strong note. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August, flash data from IHS Markit showed Friday. The services Purchasing Managers’ Index rose to 55.6 from 54.7 in August. At the same time, the factory PMI edged up to 58.2 from 57.4 a month ago. UK manufacturers’ order books softened in September but both total orders and export orders remained strong, the Confederation of British Industry said. According to the latest monthly Industrial Trends Survey, a net balance of 7% of manufacturers said order books were above normal but it was below August’s 13%. The balance of manufacturers reporting a rise in export orders came in at 10% compared to 11% in August

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