owen , when do the march contracts expire for copper, and how do...

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macgee

326 Posts.

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18/03/16

10:51

Post #: 17308554
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Originally posted by Owenb79 ↑

No Phil, it doesn't take someone with a superior intellect to figure out that a USD denominated commodity goes up when the USD drops. I told k to be careful because Copper didn't go up the USD went down and has a net effect on AUD earnings. Copper yesterday opened at 223.50 and closed at 225.75 a 1% increase. The AUD opened at 74.50 and closed at 75.40 a 1.2% increase. Nobody is buying more copper they are just dumping the USD. The AVB war chest has decreased 8% in USD terms since the rise of the AUD from 70c. You have to be careful because there is no evidence of a demand driven rise in price. I have heard rumors the Chinese are stock piling but that is not linked to consumption just fear the USD or the Yuan may depreciate. So a hedge. Forex traders are a fickle bunch and yo don't want to get caught on the wrong side. A weak USD this month could turn around and be strong next month.

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owen , when do the march contracts expire for copper,
and how do they affect the price when we have a falling usd.
do we see traders closing shorts and then opening new short
positions for the april session.
any idea on how much of the copper trade is physical versus paper trades,
have never quite understood the relationship and its effects on the price of copper
going forward , so if you have some
spare time , perhaps you could post your thoughts on the effects of expiry,etc.
thanks in advance
enjoy your charts and the friendly banter.
macgee

AVB Price at posting: 8.0¢ Sentiment: None Disclosure: Held
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