◂ Event Timeline

Mar 21, 2024MACROGlobal

Copper price resumes rally as Fed rate signals boost industrial metals

Copper resumed its rally to an 11-month high after Fed signals of three rate cuts this year weakened the dollar and boosted risk appetite. Goldman Sachs said the copper market remains very tight.

WHY IT MATTERS

A weaker dollar supports dollar-priced industrial metals. Copper's move reflects macro and risk sentiment rather than a change in feed-grain supply or demand.

AFFECTSDXY▼

SOURCE
mining.comJackson ChenMar 21, 2024

Price reaction & history

DXY▼bearishSO FAR1d -0.1%5d +0.1%20d +1.7%

After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

Jul 31, 2024Gold jumps and industrial metals rally as US Fed signals upcoming interest rate cut-0.5%
Dec 13, 2023Dollar drops as Fed signals coming rate cuts-1.0%
Aug 22, 2025Commodity Prices Surge As Powell Signals September Fed Rate Cut | FXEmpire-0.7%
Feb 2, 2023Copper prices rise as Fed messaging weakens the dollar | Financial Post+1.3%
Oct 30, 2019Dollar dips as Fed signals pause in rate-cutting cycle+0.1%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

DXY · GP ▸

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