Copper falters around 1.50% amid weak equities

COMEX Copper futures fell today, sliding to one-week low recent volatility stayed in place amid broad tariff worries. The US President Donald Trump announced 30% tariff on Mexico and EU, effective August 1 and ensured that the positive vibes created by a likely US and the EU trade deals fizzle off. The US dollar index also edged up to $5.52 per pound, down 1.50% on the day. In Asia, stocks dipped across the board. Chinese Shanghai Composite index edged up 0.27% on the day. Hong Kong's Hang Seng index rose 0.26%. Japanese NIKEEI eased 0.28%. European stocks eased modestly. On Friday, the Dow eased 0.6% while S&P 500 and Nasdaq retreated from record highs. The US dollar index moved up to three-week high and capped risk appetite in general. On the MCX, Copper futures fell 0.33% at Rs 880.65 per kg after hitting a high of Rs 886.70 per kg.

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