Copper is trading mildly higher this morning with a gain of 0.07% as investors started to gauge in the results of the two days Fed meeting which will conclude tomorrow. It is a common methodology amid traders that they will not take excessive risk when a gun is pointed to their head- The Federal Reserve meeting; therefore we may continue to see no massive move for copper until we have a conclusion of this meeting.
Having said that, the economic docket is well lit today. The PPI, Core Retail Sale, Retail Sales and Core PPI are all due at 12:30 GMT. The forecast for the retail numbers for September is expected to come somewhat flat, which will be a decrease, as compared to August reading. But, in the light of what took place in Washington, we do not expect this data will ignite any kind of firework and a possibility of a downward revision for the next week’s retail number also stays on the cards.Read More