With the UK celebrating the Spring Bank Public Holiday and the USA celebrating Memorial Day public Holiday, all commodity markets were closed overnight. Surprisingly in a decision possibly designed to keeps bank popular, the UK celebrate 3 bank public holidays every year with Early May Bank Holiday, Spring Bank Holiday and Late Summer Bank Holiday.
The AUD/USD starts the week trading at a new low of 96.4 and the LME markets last week remained relatively steady, although concerns about China growth continues to get mentioned everytime the LME has A DIP.
DJ MARKET TALK: Shanghai Copper Futures Fall on China Growth Outlook
0710 GMT [Dow Jones] Shanghai copper futures fall 0.6%, tracking weaker equities as investors turn nervous again over China’s growth outlook. “Weaker-than-expected Chinese manufacturing data on the one hand, and supply disruptions on the other, are likely to keep copper prices rangebound,” Barclays Research says in a note. The benchmark September copper contract loses CNY310 to settle at CNY52,440/ton; aluminum, zinc and lead also settle lower. (email@example.com)