Daily Brief Macro: Rate Cut To Spur Copper Performance In The Short-Term to Over 10K USD/Ton and more

• Following the recent COMEX-LME trade fiasco and the underwhelming TSF data, copper’s market sentiment was positively influenced by Fed Chairman Jerome Powell’s indication of a potential rate cut next month.
• We anticipate that this development could drive copper prices on the LME above $10,000 USD/ton in the near term, before a subsequent reassertion of fundamental factors.
• Earlier, there was downward pressure on copper prices due to China’s softening economic performance and the rising levels of inventory in the market.

• How should investors judge Trumponomics?  The question isn’t whether tariffs or anti-immigration policies should be imposed, but to judge their long run effects on growth, inflation and productivity.
• While it’s too early to render a full judgment of Trumponomics and his policies, it may be a case of short-term pain for long-term gain.
• The preliminary report card is mostly a case of pain and not gain.

• Critical Minerals Outside of China Will Command A Strategic Premium
• As risk appetite in the mining sector increases, the biggest gains will be in the junior miners and exploration companies
• We highlight eight companies as a basket of such miners which should benefit from these trends

• Founder of the DeFi Report and Web3 Strategist, NATO, shares his journey, advice for innovators, and trends shaping asset tokenization, venture capital, and AI convergence.
• Inflation report and Fed’s monetary policy decision discussed, with core inflation increasing 3.1% year over year and market pricing in a 92% chance of a rate cut in September.
• Summary of market performance, with crude falling, value rally in US equities, and Ray Dalio’s recommendation to invest in non US equities in local currency.

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• This is a follow-up on our insight from 2 weeks ago, Iron Ore: Pullback From 102 USD/Ton to 95 USD/Ton, where we estimated a pullback on the iron ore price. 
• With mill margins retreating into negative territory and TSF numbers (although healthy) coming far below street expectations, the stage is set for iron ore to retreat to 95 USD/ton. 
• Despite iron ore prices retreating to the 95 USD/ton level, we like Fenix Resources (FEX AU)(Read: Fenix Resources Tripling of Production Achieved, 1.2x Price/OCF ).