Aluminum jumps on US optimism

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/AFP
Base metals soared on Monday on improved sentiment as the US is expected to escape budget clashes and find a compromise on looming tax hikes and spending cuts. At the same time, the upswing remained capped as traders were cautious ahead of Greece's bailout talks due on Tuesday. 

Aluminum climbed on optimism that the US policymakers will avert fiscal cliff. However, the metal remained a subject to a heavy pressure as global inventories remained at record high levels.

Copper gained on the US fiscal hopes and weaker greenback. However, rising China's production coupled with uncertainty over the next tranche of Greek bailout limited gains in the red metal.

Nickel surged on improved spot market activity and positive news from the US. Softer US Dollar and strong global equities also pushed the industrial metal up.

Zinc advanced as US existing home sales surpassed forecasts. Moreover, hopes that the US will avoid fiscal cliff sent zinc prices higher.
Back to articles

Actual Topics

Tue, 20 Nov 2012 09:57:59 GMT

Loonie advances as IMF consider classifying it as reserve currency

Canada's Dollar strengthened the most in a month versus the U.S. peer as the IMF considers classifying the Lonnie and Aussie as reserve currencies. The Canadian Dollar gained 0.5% to 99.63 cents per greenback after advancing as much as 0.6%, the most since October 17. The Loonie traded below parity with the U.S. Dollar last week and touched the lowest

Tue, 20 Nov 2012 10:19:55 GMT

Gold soared on softer greenback, US fiscal hopes

Precious metals rallied on Monday amid broadly weaker US Dollar and rising optimism over the US budget. US President Barack Obama reassured investors that he will manage to reach consensus with Congress on new budget. Meanwhile, market players remained focused on escalating tensions in the Middle East and Greek bailout talks.Gold jumped, buoyed by the US Dollar weakness. Moreover, hopes

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.