Europe and China positive factors support fund
Release time： 2021-11-30 15:58
The fund market and other industrial commodity markets took comfort from the positive message from leaders at the EU summit over the weekend of the 23rd, according to the October 24th issue of the fund's journal, Sokdon Financial.
London Metal Exchange funds rose sharply overnight and gained further in London trading as the euro strengthened and equity markets rose. The positive news was enough to spur a short-covering rally that had begun over the weekend, even though the 17 countries that use the euro still had minor disagreements with each other before fully approving a bailout plan. Higher than expected PMI data from China and government comments on easing inflationary pressures set a further positive tone for funds overnight. Copper futures cleared all major technical resistance levels above $7,500 / ton and closed near the recent high of 7660/7670. Now, if investor confidence is maintained, copper may have the strength to test resistance at $8,250 / ton.
Other funds undoubtedly also closed strongly, with a high volume of 3 million lots. As of 5 p.m. in London, tin futures were at $22,545 a tonne, lead at $2,019 a tonne, nickel at $19,995 a tonne, zinc at $1,876 a tonne, copper at $7,635 a tonne and aluminum at $2,218 a tonne. Gold and silver futures on the 24th quietly steady, all day in a narrow range.