The copper market saw a large selloff early in this week's trading in reaction to the French and Greek election results but prices were able to recover a large portion of that initial slide by this morning's open. Some traders feel that a shift away from austerity measures in France might put the brakes on economic slowing in the Euro zone but that outcome might be difficult to engineer in the event that the Germans fight any deviation from current austerity measures. In addition to uncertainty from the Euro zone political front, the copper market continues to react negatively to weaker economic data from both sides of the Atlantic. Last Friday's Non Farm payroll number may be a source of pressure early in this week's trading.
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