Copper Futures (US/lb)

28/08/2023

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Afternoon report 28/07/2026

The Match Out: ASX tests 6-week high

A solid session locally, with the ASX 200 gaining 0.52% despite US futures remaining slightly lower. The move had the hallmarks of futures-led buying in Australia, with the SPI strengthening through the afternoon and broad gains across consumer discretionary, communications and healthcare, while the major banks also provided support.

Morning report 28/07/2026

What Matters Today: Is this the time to buy the “Trump Trade?”

The ASX 200 surged +1.4% higher on Monday, delivering its best day in 6 weeks with 85% of the main board closing in positive territory. Only the energy sector closed lower as Middle East tensions eased, sending oil plunging ~9% and global bonds and equities rallied in a classic “risk-on session” for stocks. Ironically, as we head into the uncertainty of Wednesday's Australian Inflation read, it was the sharp reversal higher in bonds (yields lower) following oil's weakness that helped drive rate-sensitive stocks up on Monday, with Tech (+4.5%), Materials (+2.4%), and Real Estate (+1.7%).