June 7 Shanghai copper brief commentary

Last Friday's overnight U.
S.
non-farm payrolls data was less than expected, although the unemployment rate data was in line, but the easing of market sentiment pushed the U.
S.
index back, releasing copper price pressure, and Shanghai copper rebounded slightly in the morning
.
However, the US Treasury Secretary remains optimistic about interest rate hikes, and the recent market sentiment is confused, and it is expected that copper prices will remain high and volatile in the near future, paying attention to narrow fluctuations in the range of 7.
2-71,000 within the day, waiting for the Fed's interest rate decision to further land
.

At present, the domestic economy of the United States has basically recovered, and the uncertainty of Europe and South America due to the epidemic has made it difficult
for the Fed to make it difficult for a while.
If important economic indicators in Europe, such as manufacturing PMIs, daily new outbreaks and unemployment rate, can reach the expected level, it cannot be ruled out that the Fed will discuss tapering in the third quarter, which will have a huge impact
on the entire non-ferrous sector and even commodities.