Aluminium faced stronger relations with base metals, S&P 500 and EUR/USD

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dikascopy Bank

Aluminium continues to face strong correlation with zinc while interrelation with copper tumbled from 0.69 to 0.58 over the week as copper tended to generate stronger response to economic data from China. Meanwhile, alumimium correspondence to price moves of nickel remains almost unchanged at 0.68. Aluminium connection to Standard Poor's SP 500 (SPX) edged up to 0.64 on Friday as negative news from the US weighted on the stock index. Correlation between aluminium and the pair EUR/USD eased up to 0.58 as the Euro depreciated against the US Dollar after mass credit downgrade in the Euro Zone.

 

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