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Copper continues its retreat– ING

Copper continues retreating from a nine-month high amid broader risk-off sentiment, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

Tariffs are bearish for Copper

"Copper continues its retreat from a nine-month high amid broader risk-off sentiment as markets are awaiting the White House’s so-called reciprocal tariffs due on Wednesday. Tariffs are bearish for Copper and other industrial metals in the context of slowing global growth and keeping inflation higher for longer."

USD: Waiting to be lifted by tariffs – ING

The US is due to announce a new historic round of tariffs on trading partners on Wednesday, which President Trump has now famously dubbed 'liberation day', ING’s FX analysts Francesco Pesole notes.
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AUD: RBA hold amid tariff noise – ING

The Reserve Bank of Australia announces rates at 0430 BST tomorrow and we expect a hold, in line with consensus and market pricing (less than 10% implied probability of a cut).
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