Copper rallied on upbeat PMI readings

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Industrial metals rallied after encouraging China's PMI data. Chinese PMI rose to 50.2 from 49.80 last month, indicating that the country's manufacturing activity started to expand. Positive data from the US also spurred the rally. US manufacturing activity expanded at the fastest pace in five months while US private sector employment beat estimates in October.

Aluminum was the top-performer on brighter demand prospects from China. However, bloated global inventories capped the upswing of the light metal.

Copper jumped as market sentiment improved after encouraging PMI readings. Moreover, upbeat US labour market data lent additional support for the red metal.

Nickel extended previous gains on better-than-expected quarterly results of the US steelmakers and encouraging PMI readings.

Zinc rose as spot market activity improved. However, high global inventories continued to restrict gains of the metal.


Back to articles

Actual Topics

Fri, 02 Nov 2012 09:50:07 GMT

Asian stocks gain as economic outlook on the U.S. improves

Asian equities reached their biggest rise in two weeks after data showed U.S. employment and manufacturing improved. The MSCI Asia Pacific Index gained 0.8% and the Nikkei 225 Stock Average edged 1.2% higher. The gauge of MSCI index has rallied 13% since its lowest level in June on asset purchases the U.S. and Japan increased to revive their economies.

Fri, 02 Nov 2012 09:39:49 GMT

Retail sales in Germany gained more than expected

Destatis reported on Wednesday that Germany's retail sales grew more than expected in September. Retail sales advanced by 1.5% on a seasonally adjusted basis last month, compared to a revised down figure of 0.1% in the preceding month. Economists, however, expected a more moderate increase of 0.3%.

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.