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After US Thanksgiving, dollar falls, copper boosts from China

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The dollar started the day with obvious downward pressure, hitting $910, a level similar to yesterday’s Thursday average price, as copper continued to rise and the dollar index showed little change following the Thanksgiving holiday. was traded at Thank you America.

Markets are only open for half a day this Friday, so there won’t be much volatility, but investors are also keeping an eye out for any signs that inflation is definitely coming down.

Copper, meanwhile, rose 1.2% after China announced new incentives for the real estate sector, offering low-cost loans to financial institutions investing in bonds of property developers to encourage the sector. I’m here. A quarter of the Asian giant’s GDP.

Juan Ortiz Godoy, Senior Market Analyst at XTB Latam, explained that metals will continue to fall and the exchange rate could rise.

“Namura Securities has cut its GDP forecast for China to 2.8% from 2.9%, joining other financial institutions in lowering forecasts and moving away from the Chinese government’s 2022 target of 5.5%. It’s a result of strong restrictions in response to an increase in covid cases,” commented an expert.

For all of the above, he predicted that the exchange rate could test the $900 support zone.

Source: Biobiochile

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