MCX Copper Tips Today : Copper prices yesterday settled up by 2.03% at 657.4 as top metals consumer China returned from a week-long Lunar New Year holiday, with brightening demand prospects and supply concerns underpinning the market.
MCX Copper Tips Today : Copper High 674.50 Enjoy
Upbeat U.S. data, including retail sales, signs that the Federal Reserve will maintain its accommodative stance, and hopes for further U.S. stimulus bolstered expectations of a swift global recovery from the pandemic.
Read More : MCX Copper Price 606 To 631.20, Remember We See 700++
U.S. retail sales posted the largest gain in seven months in January, after households received additional pandemic relief money from the government. Fed officials said they were still prepared to keep their easy monetary policy on track to help heal a job market hit by the pandemic.
Read More MCX COPPER READY FOR 700+++ Rok Sako to Rok Lo
- MCX Copper trading zone for the day is 660—682
- Copper prices on MCX trading at all-time high amid brightening demand prospects and supply concerns underpinning the market.
- U.S. data, including retail sales, signs that the Federal Reserve will maintain its accommodative stance.
- Hopes for further U.S. stimulus bolstered expectations of a swift global recovery from the pandemic.
The People’s Bank of China (PBoC) rolled over maturing medium-term facility loans (MLF) of CNY 200 billion while keeping the interest rate unchanged for the 10th straight month on February 18th, 2021.
The central bank said in a statement it was keeping the rate steady at 2.95 percent. The same amount of such MLF loans were due on the same day. PBoC also injected CNY 20 billion via reverse repos at an interest rate of 2.2 percent, with CNY 280 billion maturing on the same day.
