Copper settles lower as dollar trades flat

Copper futures titled lower in American trade as the dollar index settled higher, following earlier data from China, the world's largest metals consumer, and the US, and ahead of speeches by Federal Reserve Bank of Atlanta President Raphael Bostic and Federal Reserve Governor Lael Brainard. 

As of 02:15 GMT, copper futures due on July 15 fell 0.31% to $305.95 a pound from the opening of $306.90, while the dollar index inched up 0.02% to 94.08 from the opening of 94.07. 

Earlier Chinese data showed the services PMI rose to 54.9 in April from 54.8 in March, while the manufacturing PMI rose to 51.9 from 51.4. 

Earlier US data showed unemployment claims fell 13 thousand to 221 thousand from 234 thousand, as analysts expected 228K, while continuing claims fell 16 thousand in the week ending May 19 to 1.726 million from 1.742 million, as analysts expected 1.733 million. 

Personal spending rose 0.6% in April, up from 0.5% in March, and beating forecasts of 0.4%, while personal income rose 0.3% as expected from 0.2%. 

Core personal spending rose 0.2% m/m, beating forecasts of 0.1%, while steadying up at 1.8% y/y in line with forecasts. 

Chicago PMI rose to 62.7 in May from 57.6 in April, beating forecasts of 58.2, while  pending home sales fell 1.3% m/m in April, compared to a 0.6% rise, revised from 0.4% in March, missing expectations of a 0.4% rise, while rising 0.4% y/y, compared to a 4.3% drop in the previous yearly reading.