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More second quarter 2022 earnings results, the inflation print, the PMI, along with COVID positivity rates and the threat from monkeypox will contribute to sideways trading this week.
By Make Technology
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Copper is often referred to as “Dr. Copper” because of its ability to predict the direction of the global economy. Don’t believe me? Take a moment to observe your surroundings and identify items that may contain copper. A subtle hint: the device you are using to read this contains copper.
Modern society heavily relies on copper. It is affordable and versatile and can be used in construction, electronics, transportation, and more. When the economy is in expansion, the demand for this commodity rises, driving prices upward.
Conversely, during an economic contraction, demand decreases, causing prices to fall. Because copper is an essential component at the start of the supply chain, it serves as a reliable leading economic indicator.
Long-term movement of copper
A. Since 2017, a long term up
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