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Copper Futures: Diminishing odds for a deeper pullback

Investors scaled back their open interest positions in Copper futures markets by almost 1.5K contracts on Friday, reversing three consecutive builds, as per advanced data from CME Group. Volume, on the other hand, extended the erratic performance and rose by nearly 17.5K contracts.

Copper faces the next hurdle at 2.6250

Prices of the future of the base metal dropped on Friday amidst declining open interest, hinting at the likeliness that further losses appear somewhat unlikely in the near-term at least. Against this, the potential recovery in prices should meet initial resistance at monthly tops around 2.6250 (February 6th).

Eurozone Feb Sentix Investor Confidence beats estimates with 5.2, EUR/USD uninspired

Investor confidence in the Eurozone deteriorated in February amid growing China coronavirus concerns and deepening German manufacturing recession, the
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AUD/USD could still test the 0.6620 region – UOB

FX Strategists at UOB Group suggested AUD/USD could grind lower and test 0.6620 if 0.6670 is breached. Key Quotes 24-hour view: “Expectation for AUD t
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