TDS Senior Commodity Strategist Daniel Ghali observes that CTAs in copper and aluminum are being whipped in response to President Trump's softer tone regarding tariffs on China.
Trump's rhetoric reduces the quantity of CTAs for copper and aluminum.
"Notable algo buying activity in the red metal is likely to be sparked by the stronger price action overnight, but the setup for algo flows still doesn't look good, as our price simulations for the future indicate that no scenario for price action over the next week will attract subsequent buying programs."
Trump's rhetoric reduces the quantity of CTAs for copper and aluminum.
"Notable algo buying activity in the red metal is likely to be sparked by the stronger price action overnight, but the setup for algo flows still doesn't look good, as our price simulations for the future indicate that no scenario for price action over the next week will attract subsequent buying programs."
