Copper marginally lower ahead of nonfarm payrolls

COMEX Copper futures corrected marginally today and stayed cautious ahead of US nonfarm payrolls data release. The counter had moved up around 1% in last session and currently trades at $6.65 per pound, down 0.14% on the day. MCX Copper is down 0.26% at Rs 1378.70 per kg after failing to hold above Rs 1380 per kg. Meanwhile, in Asia, China's Shanghai Composite index fell 0.30%. Hong Kong?s Hang Seng index spiked 1.74% while Japanese Nikkei index added 1.26%. European stocks saw choppy moves though German DAX index edged up 0.30%. The US stocks gained in last session as remarks from Federal Reserve Governor Christopher Waller pointing to easing price pressures prompted investors to pare back expectations of an interest rate increase. Firm economic cues also benefitted the market mood.

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