Copper Rallies on Good Economic Data
Copper rallied as economic data came in stronger over the course of last week. Core PCE continued to show a decline in inflation, albeit the decline is slowing. October flash PMIs were good with the flash manufacturing PMI moving above 50, signalling expansion and the flash services PMI remaining above 50. Q3 GDP came in hotter-than-expected at 4.9% vs 4.5% with Core Durable Goods also showing strength.
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