LME copper prices extended their gains as the dollar weakened following the release of US data

Gold Ten Futures, July 4th, according to foreign media news, copper futures on the London Metal Exchange (LME) rose for the fourth consecutive trading day on Wednesday, as Chinese demand showed signs of strengthening, algorithm-driven funds bought into the market, and US data pushed the dollar weaker and boosted interest rate cut expectations. Copper prices are often regarded as an indicator of the health of the global economy. Sentiment was encouraged by signs of stronger copper demand in China, the largest consumer of the metal. In addition, some algorithm-based funds bought into the market, providing a boost to copper prices. Some funds use buy and sell signals given by computer algorithm models based on momentum signals to trade. Weak economic and employment data and cooling inflation could lead the Federal Reserve to start cutting interest rates in September, analysts said. Lower credit costs help stimulate economic growth and boost demand for commodities.