Metals this week so far have seen some improvements with investors looking to avert risk in commodities.
Although positive for our prices this week – these haven’t directly translated into local price improvements due to a spike in AUDUSD. With US Markets closed for Independence Day holiday tonight’s FX trading will give some clues as to whether it is actually a spike or a more sustained strengthening of AUD.
The dollar is currently trading at 75.40, significantly higher than 73.33 this time last week.
* * * DJ Copper Prices at 2-Month High — Market Talk * * *
0909 GMT Copper prices are trading at a two-month high Monday morning, buoyed by gains across commodities and markets. The three-month copper contract on the London Metal Exchange is up 0.52% at $4,931 per metric ton in mid-morning trade – it’s highest since May 2.