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Copper fell 0.9% to $9,832 a tonne on the LME after Fed Chair Powell signaled a March rate hike, lifting the dollar to its highest since July 2020. Low LME warehouse stocks limited losses, and the US canceled Antofagasta's Twin Metals mine leases.
A stronger dollar makes metals costlier for global buyers, but the report covers only base metals, so grain and feed impact is limited.
financialpost.comReutersJan 27, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
