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Copper Futures: Recovery could run out of steam soon

Traders scaled back their open interest positions in Copper futures markets by around 2.5K contracts on Monday, clinching the sixth consecutive pullback in light of advanced data from CME Group. In the same line, volume resumed the downside and shrunk by nearly 28.2K contracts,

Copper faces a tough resistance at 2.6250

Short covering was behind Monday’s uptick in prices of the base metal, as showed by declining open interest and volume coupled with the uptick in prices. That said, the ongoing recovery is expected to struggle around recent tops in the key resistance area near 2.6250.

Eurozone Preliminary CPI rises by 1.2% YoY in Feb, meets estimates – EUR/USD unmoved

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at +1.2% in February, meeting expectations of +1.2% and +1.4%
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EUR/USD now looks to 1.1239 – UOB

FX Strategists at UOB Group expect EUR/USD to attempt some consolidation ahead of a probable move to 1.1239. Key Quotes 24-hour view: “While our view
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