Reinvigorated Copper Trade - Fundamentals and Techs Remain Supportive: Q3 Top Trading Opportunities 2021-07-05 03:00:00 Richard Snow, Markets Writer Monetary Policy Remains Unaltered for Now Global monetary policy has remained accommodative with interest rates remaining at or near zero percent across many developed economies. However we are beginning to see inflation figures rising, adding further pressure to the already negative real yields in many of these markets. Such an environment makes non-interest yielding investments like copper, gold, silver and platinum more attractive as the potential for price appreciation remains. The recent ‘hawkish surprise’ at the June Fed meeting propelled the dollar higher, naturally resulting in a sharp move lower for copper. However, Jerome Powell sought to allay any notions of imminent rate hikes in his subsequent testimony to congress and maintained that inflation is expected to drop back towards the Fed’s longer-run goal and thus keep the door open for loose monetary policy in the United States.