Copper Rebounds as Possible Fed Hike Pause Boosts Risk Assets
- Rebound comes after metal fell on China data, growth concerns
- Bounce may be short-lived as US recession fears mount: analyst
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Copper rebounded from its lowest close in four months as metals received a boost from speculation the Federal Reserve is set to pause hiking interest rates, which increased appetite for risk assets.
The rally comes after copper slipped earlier this week, hit by mixed Chinese data and ongoing banking troubles in the US that reignited fears of a recession. The metal has nearly wiped out gains made earlier this year amid a patchy recovery in China’s economy and growth concerns in western countries.