MEIR ON METALS: Metals slightly higher despite Spanish downgrade, soft US GDP number
Apr 27, 2012 | 08:53 AM
|
Analyst Ed Meir looks at what is moving the metal markets on Friday 27 April.
Copper and General Commentary: Base metals finished sharply higher on Thursday, as the lingering after-effects of Chairman Bernanke’s comments continued to pressure the dollar, forcing it to slide to $1.3263 against the euro – a three-week low. Other markets saw good gains as well; precious metals and US equity markets both finished higher, with stocks putting together their best three-day gain since February amid decent earnings reports.
Right now, markets are mixed, with base metals recovering from early losses and now modestly higher, but precious metals and energy are both down. The euro is steady at $1.3230 and US stocks are expected to open flat.
Some of Friday’s buy-side momentum has been....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here