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Copper Market Reflects Chinese Manufacturing Slowdown | Metals Edge | Phillip Streible | 5.02.22

Posted: May 2, 2022, 11:53 a.m.

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Correlation data is driving the current markets:

-Friday's Chinese Manufacturing data hit a 2 year low, which can be seen in the recent Copper drop. Copper is driving the other precious metals' markets, as we also see pullbacks in Gold, Silver, Platinum & Palladium.

-Copper/Silver correlation is currently 96%.

-50% of Silver's demand is from manufacturing. After the Chinese holiday is over, we could see a return to strength.

-China is discussing with banks on how to protect their assets from US sanctions. Is this to feel out a take-over of Taiwan?

-Federal Reserve meets Wednesday

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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