Copper cautious around one-week low amid persistent dollar strength

COMEX Copper futures hovered around one-week low amid firm US dollar after easing around three-month high last week. The red metal is currently quoting flat around $5.10 per pound with market focussing latest Chinese manufacturing data. The manufacturing sector in China continued to expand in October, albeit at a slower rate, the latest survey from RatingDog revealed on Monday with a manufacturing PMI score of 50.6. That's down from 51.2 in September although it remains above the boom-or-bust line of 50 that separates expansion from contraction. This capped downside for the red metal. Meanwhile, in Asia, China's Shanghai Composite index added 0.55% while Hong Kong's Hang Seng index rallied around 1% after losses in last session. Japanese stocks were closed due to a public holiday. European stocks edged up modestly. The US stocks stayed supported on Friday with the Dow adding 0.1% on the day. Dollar index hit a three-month high above 99.70 mark today and prevented advances in Copper.

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