Base Metals Preview: Copper rises as dollar loses ground

Copper is extending upside in early Asia on Tuesday tracking pullback in dollar coupled with positive sentiments from overnight equities. Stocks on the Wall Street moved back to the upside during trading on Monday following the sell-off seen during last Friday's session. The Nasdaq and the S&P 500 regained ground, although the narrower Dow ended the day modestly lower. While the Nasdaq climbed 111.69 points or 0.6 percent to 18,791.81 and the S&P 500 rose 23.00 points or 0.4 percent to 5,893.62, the Dow edged down 55.39 points or 0.1 percent to 43,389.60. Meanwhile, China?s government policies to boost demand and growth will be watched for further cues. Currently, COMEX copper is quoting at $4.14 per pound, up 0.63% on the day.

Powered by Commodity Insights