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Brent crude futures fell $1.69 to settle at $110.05 a barrel, while U.S. Oil prices ended lower as investors weighed the risk of a recession. The euro also declined 1.4% versus the Japanese currency to 141.85 yen. It earlier declined below a key $1.05 level for the third time this week. read moreĪgainst the dollar, the euro declined 0.5% to $1.0509. In the foreign exchange market, the euro slid across the board following the weaker-than-expected German and French PMI data. They have dropped from 3.498% on June 14, the highest since April 2011.Ĭopper prices slumped as rising interest rates and weak economic data fed worries about demand.Ĭopper on the London Metal Exchange (LME) hit its lowest level since February 2021. The CME Group (COMEX) Futures, however, are the most quoted benchmark online, with prices displayed in US per pound. 10-year yields fell to 3.005%, before rebounding to 3.070%. The worlds primary market for copper trading is the London Metal Exchange (LME). central bank hiked rates by 75 basis points, the biggest increase since 1994.īenchmark U.S. Yields have dropped from their highest level in more than a decade, reached before last week’s Fed meeting, when the U.S.
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bond market, yields fell, partly on a growing belief that yields may have topped for the near term even if inflation stays high. The pan-European STOXX 600 index (.STOXX) lost 0.82% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.43%. Manufacturing growth is slowing worldwide partly because China's COVID-19 curbs and Russia's invasion of Ukraine have disrupted supply chains and added to inflation problems. 3-month Closing Price (day-delayed) Contract specifications. Physical services CN home Events LME Education Trading. Current and historical Copper prices, stocks and monthly averages. producers reporting the first outright drop in new orders in two years. Current and historical Copper prices, stocks and monthly averages. Gauges of factory activity released on Thursday in Japan, Britain, the euro zone and United States all softened in June, with U.S. "For now, the market has probably discounted somewhat of a mild recession." "We have yields that are coming down, and so that's helping stocks," he said. "What we're seeing here is a (stock) market trying to absorb the Fed's tightening and basically trying to put in a low in a bear market," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Copper market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.
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Register now for FREE unlimited access to Registerįederal Reserve Chairman Jerome Powell testified before Congress for a second day, a day after saying the Fed is committed to cutting inflation at all costs, and acknowledged a recession was "certainly a possibility." read more