(VIANEWS) – Copper (HG) may be heading up after going down by 3% over the last week following the US Dolar index better conditions. The Dollar Index (DXY) is one of the most important indicators for global currencies. It measures US Dollar’s value compared to a basket global currencies. The U.S. Dollar Index consists of six currencies: the Euro, Japanese yen (Japan pound), Canadian dollar, Canadian dollar and Swedish krona (Swiss franc). The currency basket consists essentially of countries that have significant trade relations with the US and are also hard floating currencies.

At 02:51 EST on Monday, 19 September, Copper (HG) is at $3.51 and 3.09% down since the last session’s close.

Copper price remains sidelined amid a sluggish start to the key week as traders struggle to justify mixed catalysts during the holidays in Japan and the UK.

FXStreet has confirmed that that said, the three-month copper on the London Metal Exchange (LME) rose 0.5% to $7,804 a tonne by 03:25 GMT, per Reuters, whereas the most-traded October copper contract on the Shanghai Futures Exchange (SFE) advanced 1% to 62,650 yuan ($8,940.42) a tonne. On the contrary, the COMEX Futures drop 0.60% by the press time.

Volume

Today’s last reported volume for Copper is 12135, 99.99% below its average volume of 18021673377.32.

Copper Range

About Copper’s daily highs and lows, it’s 2.319% up from its trailing 7 days low of $3.43 and 1.405% down from its trailing 7 days high of $3.56.

Volatility

Copper’s last week, last month’s, and last quarter’s current intraday variation average was a negative 1.03%, a negative 0.51%, and a positive 1.50%, respectively.

Copper’s highest amplitude of average volatility was 1.80% (last week), 1.37% (last month), and 1.50% (last quarter), respectively.

Commodity Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Copper’s commodity is considered to be oversold (<=20).

More news about Copper (HG).

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