USD/JPY rose to approximately 149.30 during the Asian session on Wednesday, marking a 0.23% increase. Despite this upward move, a risk-off sentiment and expectations of more interest rate hikes from the Bank of Japan (BoJ) may limit further gains for the pair.

Market forecasts suggest the BoJ could raise rates from 0.50% to 0.75% within this year. Overnight index swaps indicate a complete pricing in of an increase by September, with a 50% chance of a hike as soon as June.

Recent data revealed Japan’s Services Producer Pricing Index (PPI) supports the likelihood of a BoJ rate hike, alongside solid consumer inflation figures. In the United States, the Conference Board’s Consumer Confidence dropped to 98.3 in February, down from 105.3, which may exert pressure on the US Dollar against the Yen.

As traders await further guidance from Federal Reserve representatives, comments suggesting a tighter monetary policy may lend short-term strength to the US Dollar. The Japanese Yen’s valuation is influenced by the performance of Japan’s economy, the BoJ’s decisions, the bond yield differential with the US, and overall market sentiment.

With the yen gaining attention due to shifting monetary policy expectations, traders should consider how interest rate differentials drive movement in this pair. The speculation surrounding Tokyo’s central bank and its potential policy shift has gained traction, with market participants closely analysing the pacing of possible rate increases. While the 0.50% to 0.75% forecast has been widely discussed, the timing remains important. If June becomes the month for an increase, rather than later in the year, the yen may appreciate more rapidly than some expect.

The link between Japan’s economic data and the yen’s valuation cannot be ignored. The latest services PPI figures strengthen the case for tightening monetary policy, which, when combined with steady consumer inflation, suggests an end to ultra-loose conditions may be approaching. The market has already priced in a change, but if the BoJ provides any indication that it could act sooner, yen bulls could gain momentum.

Across the Pacific, consumer confidence data from the US has introduced some hesitation into dollar strength arguments. A sharp drop from 105.3 to 98.3 in February suggests economic uncertainty is playing a role. If sentiment in the US continues to sag, pressure on yields could grow, which in turn may weigh on dollar performance. Of course, this depends on how policymakers in Washington choose to respond. Should Federal Reserve members reaffirm a hawkish stance in forthcoming speeches or statements, short-term dollar demand could still emerge, keeping movements choppy.

When considering next steps, the difference in yields between US Treasuries and Japanese government bonds will be an important metric. A narrowing gap favours the yen, while widening spreads tend to support the dollar. Traders monitoring these developments should also keep an eye on overall market sentiment—any renewed flight to safety could boost the yen as well, particularly if global growth concerns return. With US policymakers expected to provide more insight in the coming days, markets will be weighing any fresh signals against existing expectations.

A widespread power outage left Santiago and much of Chile in darkness, affecting daily activities and transport systems. Key copper mines, such as Escondida, Codelco, Antofagasta, and Anglo American, faced disruptions, raising concerns for global metal markets.

Interior Minister Carolina Toha reported a failure in the northern power transmission line and excluded the possibility of a cyber attack. The government declared a state of emergency and enforced a curfew from 10 p.m. to 6 a.m. in various regions.

Hydroelectric plants were activated to help restore electricity, but a specific timeline for full restoration has not been announced.

With most of Chile’s population affected, normal routines have been upended, throwing everyday life into disarray. Transport networks have struggled to function, and businesses have operated in limited capacity where backup systems allow. The mining industry, a crucial pillar of the nation’s economy, has been hit particularly hard. Disruptions at Escondida, Codelco, Antofagasta, and Anglo American raise alarms not just locally, but across global supply chains. These mines play a major role in copper production, and any interruption influences availability, pricing, and future output.

Carolina, addressing public concern, pointed to a failure in a northern power transmission line as the cause of the outage. By ruling out a cyber attack, she reassured those worried about external interference. The government’s swift actions—declaring a state of emergency and enforcing a nightly curfew—demonstrate the scale of the disruption. These measures aim to maintain order during a time of uncertainty, ensuring that restoration efforts proceed without additional complications.

Authorities have turned to hydroelectric plants to compensate for the failure, offering temporary relief. However, without a clear estimate on when the grid will be fully reliable again, dependency on alternative energy sources remains a gamble. The absence of a timeline adds to market speculation, particularly for industries that rely on steady energy supplies.

In the coming weeks, a close eye must be kept on the restoration process. Power stability is necessary for mining operations to return to normal output levels. If the outage lingers, production setbacks could escalate, tightening global supply at a time when demand remains high. Those tracking industrial metals should consider the potential for price shifts, particularly if further delays emerge.

Beyond immediate consequences, the longer-term implications of this disruption will depend on how quickly authorities stabilise the grid. We recognise that repeated failures in critical infrastructure can prompt revisions to projected output, influence contract negotiations, and shape investment decisions. In the meantime, prices may respond to shifting expectations, and any deviation from traditional supply patterns will not go unnoticed.

NZD/USD continues to decline, trading around 0.5720, as traders await New Zealand’s February consumer confidence report on Friday. The pair has lost value for four consecutive sessions, with market attention on the Reserve Bank of New Zealand’s recent rate cut and the impact of China’s manufacturing data expected over the weekend.

Additionally, discussions between China’s Vice Commerce Minister and US business leaders regarding tariffs are pivotal, following news of the Trump administration’s plans to enforce stricter chip export controls on China. These developments are compounded by US tariffs on Canada and Mexico, reflecting heightened global trade tensions.

The New Zealand economy, reliant on resource exports, is particularly vulnerable to shifts in trade policy and risk sentiment. The overall outlook remains cautious as traders consider the implications of these discussions on the currency’s performance.

The downward movement in the currency pair over the last four sessions has come as markets digest both domestic policy shifts and broader economic signals. With consumer confidence data for February due shortly, many will be looking for signs of resilience, or further weakness, in the local economy. A weaker reading could reinforce concerns about monetary policy and growth, given the central bank’s recent decision to lower rates.

At the same time, developments in China remain a focal point. Weekend manufacturing data will provide another gauge of economic momentum in the region, which in turn has an impact on trade-sensitive currencies. If figures disappoint, sentiment around export-driven economies could deteriorate further, keeping downward pressure on the exchange rate.

Meanwhile, trade-related discussions remain active, particularly those involving Beijing and Washington. The Vice Commerce Minister’s engagement with US business representatives comes at a time of renewed tensions over technology exports, with Washington pushing for stricter chip controls. This isn’t happening in isolation – recent tariff adjustments targeting Canada and Mexico signal a broader reassessment of trade policy that could have ripple effects across markets.

For those navigating currency price movements, it’s important to account for these external elements rather than focusing solely on central bank actions. The country’s heavy dependence on commodity exports means any shift in global trade conditions has a direct influence on market expectations. If upcoming discussions point towards more restrictive policies or sluggish industrial output, the impact will be felt quickly.

The coming days offer multiple points of volatility. Whether it’s local indicators, China’s latest economic figures, or geopolitical manoeuvring, all eyes remain on how these factors shift momentum. Traders positioning for further moves will need to stay ahead of new information, weighing how each variable plays off the next.

The recent interest rate cut by the Bank of Korea is seen as part of a larger trend where growth and deflation risks are becoming more pressing than inflation worries. Analysts note that, even with rising costs from global trade disruptions, weaker demand is contributing to deflationary pressures.

In contrast to the U.S. Federal Reserve and the European Central Bank, which focus on controlling inflation, countries like South Korea and China prioritise the need to sustain growth. Although there has been a delay since the last easing by the People’s Bank of China, lower rates in South Korea may help bolster domestic demand and investment.

While the rate cut could lead to a depreciation of the Korean won (KRW), it indicates a shift in policy considerations. For many economies, the implications of slowing trade and demand have become more important than managing occasional spikes in inflation.

This shift in policy direction suggests a broader recognition that the fight against inflation is no longer the sole concern for monetary authorities. The move by Seoul’s central bank reflects growing unease over subdued spending and weak investment, despite ongoing supply chain disruptions that might otherwise push prices higher. Consumers and businesses alike are pulling back, pressuring policymakers to act in ways that go beyond merely keeping price growth in check.

Min-jae, like many of his peers, pointed out that this policy turn reinforces the idea that lower borrowing costs could help prevent a sharper downturn. His view aligns with what we have observed in other economies where central banks are opting for looser monetary conditions. This is not a one-off reaction but part of a growing acknowledgment that demand-driven weakness may persist.

Across the wider region, the effects of easing measures like this tend to ripple through debt markets first. Ji-hoon has noted that bond yields have already started adjusting, with expectations building for further stimulus. The foreign exchange market is also responding, though the pace of changes depends on how capital flows react to shifting rate differentials. While the weaker KRW might benefit exporters in the short term, import-dependent sectors could face rising costs, making the net effect harder to predict.

Those trading derivatives should take into account that a softer KRW could impact hedging strategies, particularly for firms with exposure to external borrowing. With funding conditions diverging between Asia and the West, Seojin emphasised the need to stay alert to how this divergence affects liquidity across asset classes. The more domestic rates trend downwards, the greater the likelihood of portfolio reallocations. This might introduce added volatility to positions tied to rate-sensitive instruments.

Our discussions with market participants suggest that expectations for further monetary easing remain in focus. While Min-jae warned about overinterpreting a single rate cut, he acknowledged that the direction taken by policymakers leaves room for additional moves. If inflation remains subdued and growth struggles to regain momentum, further action may not be off the table.

For traders weighing their strategies, the shifts in interest rate expectations and currency movements provide both risks and opportunities. Ji-hoon noted that forward-looking indicators, such as lending activity and business sentiment, may offer further clues on what comes next. These factors could shape how markets price in future policy adjustments, making close attention to such developments essential.

EUR/USD increased by 0.5% on Tuesday, surpassing 1.0500, despite being constrained by recent resistance. US consumer sentiment decreased in February, raising fears of an economic slowdown, and President Trump reaffirmed his intention to impose import taxes.

Despite the decline in consumer sentiment, the Cable maintained its strength. The market remains hopeful that Trump may delay his tariff threats.

The upcoming economic data schedule is light, but attention is on Thursday’s US GDP figures and Friday’s personal consumption expenditure inflation update, which may reveal effects on core inflation from recent CPI spikes.

EUR/USD remains above the 50-day Exponential Moving Average near 1.0440. Although momentum is limited, reclaiming the 1.0550 level is a challenge, with the 200-day EMA acting as a barrier at 1.0650.

The Euro is the currency for 19 Eurozone countries, representing 31% of foreign exchange transactions in 2022. The European Central Bank sets interest rates and aims for price stability, influencing the Euro’s value.

Inflation data, particularly when it exceeds the ECB’s 2% target, can lead to interest rate increases, benefiting the Euro. Economic indicators like GDP and consumer sentiment can also sway the Euro’s strength based on economic health.

The Trade Balance impacts the Euro’s value as well, measuring the difference between exports and imports. A positive balance generally strengthens the currency, while a negative one does the opposite.

The jump in the Euro against the US Dollar reflects a market grasping for direction amid mixed signals. While sentiment surveys show growing concern in the US, currency traders are weighing whether this slowdown will be enough to prompt the Federal Reserve to reconsider its stance. A lower reading on consumer confidence often translates into reduced spending, which in turn cools inflation. That should push down rate hike expectations, yet the market has yet to fully embrace that notion.

The fact that Sterling held steady even as US confidence softened suggests that traders are waiting for clearer direction. There is still some hope that President Trump will ease up on his proposed tariffs, and this has prevented the Dollar from making stronger moves. Markets tend to respond less to political statements and more to actual policy implementation, so hesitancy remains.

With few economic reports set for release in the next few days, momentum may stay muted. However, Thursday’s GDP numbers will shed light on whether the US economy is showing resilience to higher interest rates. A strong reading would reinforce Dollar strength, while a weaker one would raise concerns that tight monetary policy is biting harder than expected. That is before Friday’s spending and inflation data, which will be watched closely to judge whether core prices are still running hot. The Fed’s preferred inflation gauge has the power to shake expectations around future rate moves.

On the technical front, short-term price action remains contained. The fact that the Euro is holding above its 50-day EMA near 1.0440 hints at some underlying support, but breaking past 1.0550 remains a hurdle. Even if it does, momentum would likely run into resistance at the 200-day EMA, making renewed upside tricky. Traders have been reluctant to push beyond these thresholds without a strong catalyst.

Economic reports in the Euro area matter just as much. Inflation is always in focus, since levels above 2% make the case for tighter policy from the ECB. That often bodes well for the Euro, as higher rates tend to attract inflows. However, GDP figures and sentiment readings also affect the equation, as they offer insight into whether the economy can handle restrictive borrowing costs.

Trade figures serve as another key pillar. When exports outpace imports, it usually strengthens the Euro by driving demand for the currency. A deficit, on the other hand, can weigh down its value, particularly if it reflects softening demand from key trading partners. These fundamental factors keep shaping price trends, even when short-term fluctuations appear tied to broader risk shifts.

Bank of America predicts that the Federal Reserve will keep interest rates steady until 2026, with no reductions expected in 2025. This forecast reflects a consistent view shared over recent weeks.

The continuation of higher rates may tighten financial conditions, reducing liquidity and applying pressure on asset prices like equities and cryptocurrencies. A strong U.S. dollar could emerge from these rates, making riskier assets such as cryptocurrencies less attractive.

Elevated borrowing costs may curtail consumer spending and business investments, potentially increasing recession risks. Market sentiment generally leans towards anticipating rate cuts, making Bank of America’s view somewhat isolated.

If Bank of America’s outlook holds, markets expecting rate cuts may have to adjust, triggering waves of repositioning. A delay in easing monetary policy could put further strain on high-growth sectors, as borrowing remains expensive. Investors and businesses hoping for relief might need to recalibrate.

Jason’s perspective remains outside the broader market consensus. Many still expect the Federal Reserve to lower rates earlier, but if his team is correct, extended tight financial conditions could weigh on asset valuations. A strong dollar, sustained by high interest rates, can divert capital away from areas that thrive on easier monetary policy.

We have watched the effect of rate expectations on market movements. When traders believe cuts are on the horizon, growth stocks and speculative assets tend to benefit. If those assumptions prove premature, repositioning could drive volatility. Emily’s team suggests that staying defensive in such an environment may be worthwhile, particularly in sectors sensitive to interest-rate shifts.

Higher rates for an extended period could also influence global flows. With U.S. yields remaining attractive, funds might shift from emerging markets, tightening liquidity where it is already scarce. We have seen how previous rate cycles affected capital allocation, and this time is unlikely to be different. Those exposed to leveraged positions might need to account for prolonged borrowing costs.

Market pricing often lags behind central bank actions. Ryan highlights how premature bets on rate cuts can backfire. If the Federal Reserve signals no intention to lower rates, repositioning could come swiftly, adjusting valuations across asset classes. Traders relying on past assumptions may need to reconsider their models.

Forward guidance remains an essential factor. Policymakers have suggested a data-driven approach, meaning recent inflation readings will carry weight. Any deviation from expectations could amplify market moves, especially in interest-rate-sensitive areas. Patrick’s analysis underlines the risk of aligning too closely with narratives that lack confirmation from the Federal Reserve itself.

Liquidity conditions may shift if markets need to adjust for rates staying higher for longer. We remember prior tightening cycles, where financial stress built gradually before becoming evident. If borrowing remains expensive, companies relying on favourable credit conditions could face headwinds. Tighter financial conditions often push more cautious behaviour, reducing speculative positioning.

GBP/USD experienced a slight increase on Tuesday, positioning Cable near the high end of recent consolidation and around the 200-day Exponential Moving Average (EMA). US consumer sentiment fell in February, raising concerns about economic slowdown, and President Trump reiterated his plans to impose import taxes.

Despite the decline in consumer sentiment, GBP/USD maintained an upward trend, as the market anticipates that Trump may postpone his tariff decisions. Limited data releases are expected from both the US and UK this week, with attention turning to Thursday’s US Gross Domestic Product (GDP) figures.

Tuesday’s activity saw GBP/USD stabilised around the 1.2680 level, following a recovery of 4.7% from January’s low near 1.2100. The GBP remains under pressure due to a technical ceiling just below the 1.2700 mark.

The Pound Sterling is the UK’s official currency, issued by the Bank of England (BoE), with monetary policy its key driver. Economic indicators such as GDP and employment statistics can significantly affect the Pound’s value.

The Trade Balance also plays a role, with a positive balance strengthening the currency while a negative one can lead to depreciation.

This recent uptick in Cable places it in a decisive zone, testing resistance while finding support near the long-term moving average. The price action largely reflects mixed sentiment, where optimism surrounding a potential delay in import duties outweighs weakening consumer confidence. However, with external factors like sentiment readings taking a hit, traders should tread carefully, as market movements may be more reactive to policy developments than fundamental data in the short term.

Given the lack of major data releases from both sides of the Atlantic, movement in the coming sessions is likely to be dictated by broader market risk appetite and positioning ahead of Thursday’s GDP figures. If the US economy shows stronger-than-expected growth, the next test for Cable will be whether it can sustain momentum against a firmer dollar. Conversely, if growth disappoints, we could see further attempts to push beyond 1.2700, though prior rejections from this level suggest that upward traction might be met with hesitation.

Since early January, Sterling has posted an impressive recovery, but losing steam at these levels suggests that traders are wary of chasing the rally much further without additional catalysts. It remains constrained by key resistance zones, and without fresh momentum, a pullback in the direction of short-term support levels could be on the cards. Should traders see a rejection here, attention may shift towards technical markers lower down in the range.

Broader macroeconomic trends continue to dictate movements in the Pound. The BoE’s policy stance remains a key influence, while economic releases such as employment figures, inflation data, and retail performance contribute to shifts in sentiment. Trade balance dynamics add another layer of complexity, with currency strength often reflecting demand for UK goods and services. A strengthening surplus can provide support, while persistent deficits bring downside risks.

With these factors in mind, the next few sessions will reveal whether buyers remain committed near current levels. If resistance gives way, the technical outlook would brighten, but hesitation around 1.2700 suggests that market participants may need further validation before pushing much higher. Should price struggle to clear these headwinds, focus could turn back towards the lower range of recent consolidation as traders reassess positioning.

The Trump administration is set to establish a registry for undocumented immigrants in the United States. Immigrants aged 14 and older must submit their fingerprints and home addresses or risk fines up to $5,000 and imprisonment of up to six months.

This initiative aims to criminalise the status of being in the U.S. illegally, further enforcing stricter immigration laws. The potential outcome for U.S. labour markets may be a decrease in low-cost labour, which could contribute to rising inflation.

If implemented as outlined, this policy would change employment patterns, especially in industries dependent on a steady supply of undocumented workers. Sectors like agriculture, construction, and hospitality often rely on these labourers to fill roles that citizens and legal residents may be less inclined to take. A sudden contraction in available workers could drive wages higher as businesses adjust to a smaller labour pool. Increased labour costs could then translate to rising consumer prices, reinforcing inflationary pressures already present in the economy.

Markets react to inflation in measurable ways. A sustained upward trend in prices often prompts shifts in monetary policy. If inflation accelerates beyond current projections, the Federal Reserve may feel compelled to adjust interest rates accordingly. Investors tend to anticipate these decisions, affecting bond yields and currency fluctuations ahead of formal announcements. Traders need to remain mindful of how pricing pressures filter through economic data releases in the coming weeks, particularly in employment figures and consumer spending trends.

Beyond domestic implications, tighter immigration enforcement may also impact cross-border financial flows. If deportations increase or undocumented workers exit voluntarily, remittances sent to countries reliant on U.S. earnings could decline. This reduction in money transfers would affect nations where these funds constitute a sizeable portion of GDP. Currency markets often reflect such shifts, especially for economies closely tied to remittance inflows.

Policy uncertainty often fuels volatility. Market participants have already witnessed abrupt changes in direction in response to legislative decisions. This latest measure introduces another variable into an already complex set of considerations. Statements from officials in the coming weeks could further influence expectations, making it essential to watch for additional guidance on enforcement timelines and exemptions.

For those monitoring price action in derivatives, labour market trends and inflation signals should not be overlooked. If wages climb and consumer prices follow, asset pricing adjustments will occur. Every inflation report, jobs data release, and interest rate statement will offer clues as to whether these policy shifts are beginning to leave a deeper imprint.

Silver prices dropped over 1.80% on Tuesday, with a daily peak of $32.48 before falling below $32.00 due to risk aversion and profit-taking related to uncertainty about US trade policies. As Wednesday’s Asian session began, XAG/USD traded at $31.73.

The price reached a two-week low of $31.29 but rebounded near the 100-day Simple Moving Average of $31.20, which if breached, could lead to further declines towards $30. Buyers drove the price above $31.50, suggesting potential re-testing of the $32.00 level.

The Relative Strength Index (RSI) indicates a bearish momentum with a reading below 50, signalling a dominant selling pressure. Conversely, a rise above $32.00 could allow prices to revisit the February 25 high of $32.48, with the potential to challenge $33.00 if surpassed.

Silver is often seen as a store of value and medium of exchange, frequently traded to diversify portfolios. Factors influencing prices include geopolitical issues, recession fears, interest rates, and the strength of the US Dollar.

Industrial demand, particularly in sectors like electronics and solar energy, plays a significant role in price movements. Dynamics in major economies, especially in the US, China, and India, further contribute to fluctuations.

Silver generally follows Gold’s trends, reflecting their safe-haven asset characteristics. The Gold/Silver ratio can help gauge relative valuation, indicating whether Silver might be undervalued or Gold overvalued based on its level.

Investors should conduct thorough research and consider the associated risks when making investment decisions in these markets.

The recent drop in silver prices, losing more than 1.80% on Tuesday, reflects a shift in market sentiment. The metal peaked at $32.48 before slipping under $32.00, driven in part by growing risk aversion and traders securing profits amid uncertainty over US trade policies. As Wednesday’s session started in Asia, silver stood at $31.73 after briefly touching a two-week low of $31.29. Buyers intervened near the 100-day Simple Moving Average around $31.20, preventing a steeper decline towards the psychologically important $30.00 mark. The fact that prices rebounded above $31.50 suggests that retesting $32.00 in the short term is not off the table.

Momentum indicators show that sellers remain in control. The Relative Strength Index sits below the 50 threshold, a signal that bearish momentum continues to weigh on the market. However, if silver manages to reclaim and hold above $32.00, another move towards $32.48, last seen on 25 February, could follow. If that level gives way, $33.00 might come into focus, drawing in technical traders looking for breakout opportunities.

Beyond daily price moves, broader forces continue to shape silver’s medium-term direction. The metal remains an attractive asset both as a store of value and for its industrial applications. It is widely used in electronics and solar energy, sectors that have seen steady expansion in recent years. Fluctuations in demand from key economic players, especially the US, China, and India, add another layer of complexity to price movements.

Historical trends show that silver often moves in tandem with gold, as both metals share safe-haven characteristics. The relationship between the two can be tracked through the Gold/Silver ratio, which helps assess whether silver appears undervalued relative to gold or vice versa, offering traders another tool for decision-making.

Market participants need to carefully factor in external risks when navigating price swings. With ongoing geopolitical developments, economic uncertainty, and interest rate expectations all in play, volatility is likely to persist. No single element drives prices in isolation, so a broad perspective remains critical.

The Democratic Republic of Congo is considering cobalt export quotas to control oversupply and enhance prices. As the largest supplier of cobalt, the country faces challenges due to current prices being historically low.

This price drop is attributed to reduced demand from automakers and increased copper production, which is a by-product of cobalt extraction. While discussions over the implementation of these quotas are ongoing, no final decision has been reached. Sources close to the situation remain unnamed due to the sensitive nature of the discussions.

If these quotas are implemented, they could alter supply expectations in the weeks ahead. Traders keeping a close eye on cobalt prices will need to assess how this could impact availability.

With the Democratic Republic of Congo being the largest source of cobalt, any restriction on exports would tighten global supplies. Given that prices are already under pressure, changes in supply could affect future contracts. The link between cobalt extraction and copper production further complicates expectations. Since copper mining continues to expand, additional cobalt enters the market, despite softer demand. This dynamic has contributed to the current pricing difficulties.

Manufacturers, particularly those in the automotive sector, have adjusted procurement strategies in response to shifting battery technology and economic conditions. While this has led to lower immediate demand, it does not remove the possibility of stronger future consumption. What remains uncertain is how quickly purchasing patterns will change and whether price adjustments will follow.

Government discussions in the Democratic Republic of Congo suggest that officials are weighing multiple factors, including economic stability and their country’s role in global raw materials supply. Any decision to implement quotas will take these into account. Until a formal policy is announced, speculation around possible restrictions will continue to influence trading behaviour.

Some market participants may already be factoring in the potential impact of limitations on cobalt exports. If traders anticipate reductions in supply, they could adjust strategies to reflect tighter availability. On the other hand, if discussions do not lead to concrete action, the existing supply situation will persist, with prices shaped primarily by demand from automakers and broader industrial consumption.

With no official confirmation on quotas, the ongoing nature of these talks means short-term price movements may be driven by anticipation rather than concrete shifts in supply. Derivative traders following cobalt will want to monitor these developments closely, considering how they influence market positioning.

For now, the primary concern remains whether the Democratic Republic of Congo moves ahead with restrictions and, if so, how quickly they would take effect. Until a concrete decision is announced, price movements could reflect shifting expectations rather than actual supply changes.