铜价：短期回调空间有限，中长期仍向上驱动

Core Viewpoint - The Federal Reserve's recent meeting revealed significant divergence in interest rate expectations, with a likelihood of one rate cut this year, and potentially two more cuts based on weak employment and stable inflation [1] Group 1: Federal Reserve Insights - The dot plot from the Federal Reserve indicates a notable split in expectations, excluding the new member, suggesting a potential rate cut within the year [1] - Weak employment data and lack of significant inflation rebound provide a foundation for further rate cuts, with a higher probability of two cuts remaining this year [1] Group 2: Copper Market Analysis - Following a short-term bullish sentiment, copper prices have experienced a pullback, but the downside is expected to be limited [1] - The expectation of liquidity easing is likely to support copper prices, presenting a buying opportunity during the pullback [1] - Improved downstream demand is providing support for copper prices, with medium to long-term resilience and rate cut pace driving upward movement [1] - In the short term, copper prices are expected to oscillate at high levels [1]