Base Metals Preview: Copper largely unmoved in early Asian trades

COMEX copper is staying flat on Thursday morning in as upside in the commodity is capped by renewed strength in greenback overseas. US dollar index climbed to 98.26 amid renewed concerns over the Federal Reserve?s independence as reports of President Donald Trump considered removing Fed Chair Jerome Powell resurfaced. Meanwhile, US stocks showed a lack of direction throughout much of the trading day on Wednesday although major averages all finished the day in positive territory. The Dow advanced 231.49 points or 0.5 percent to 44,254.78, the Nasdaq rose 52.69 points or 0.3 percent to 20,730.49 and the S&P 500 climbed 19.94 points or 0.3 percent to 6,263.70. Copper futures are currently quoting at $5.51 per pound, down 0.14% on the day.

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