By Giles Coghlan, Chief Currency Analyst at HYCM
Copper has the nickname, Dr Copper, due to its ability to make a diagnosis about the global economy. The use of copper by the world economy when it is growing increases. Electronics, wiring and a wide range of industrial and manufacturing processes need copper. When the economy is growing, demand for copper increases, and therefore the price. So, when the market is risk on and optimistic about global growth Copper prices rise. So, want a clue about the markets view on the state of global growth? Book an appointment with Dr Copper for a helpful consultation.
