Copper advances 1% even as dollar bounces back

Copper futures rose nearly one percent in American trade away from October 3 lows even as the dollar index rebounded from February 16 lows, following earlier data from the US, the world's largest economy, while markets await a speech by Federal Reserve Bank of Atlanta President Raphael Bostic, 

As of 01:39 GMT, copper futures due on May 15 rose 0.79% to $299.35 a pound from the opening of $297.00, while the dollar index rose 0.51% to 89.48 from the opening of 89.03. 

Earlier US data showed the S&P House Price Index accelerated to 6.4% y/y in January from 6.1% in December, beating expectations of 6.1%. 

Federal Reserve Bank of Atlanta President Raphael Bostic is due to speak at the Hope Global Forums Annual Meeting, in Atlanta, later today.