Copper falls for first session in four as dollar spikes

Copper futures fell over one percent in American trade off October 4 highs for the sixth session out of ten, as the dollar index scaled June 2017 highs, following earlier data from China, the world's largest metals consumer, and the US. 

As of 02:53 GMT, copper futures due in March shed 1.21% to $273.35 a pound off ten-week highs, while the dollar index rallied 0.63% to 97.67 off 1-1/5 year highs. 

Earlier Chinese data showed the unemployment rate fell to 4.8% from 4.9%, while retail sales rose 8.1%, slowing down from 8.8%, as industrial output slowed down in growth to 5.4% from 5.9%. 

From the US, retail sales rose 0.2% in November, beating estimates of a 0.1% increase, while down from October's 1.1% increase. 

Core sales, excluding transportation, rose 0.2%, matching estimates and down from 1.1% in October. 

US industrial production rose 0.6% in November, compared to a 0.2% dip in October, beating estimates of a 0.3% increase.

The capacity utilization rate rose to 78.5% from 78.1%, slightly missing estimates of 78.6%. 

Finally, the manufacturing PMI receded to 53.9 from 55.4, while the services PMI slipped to 53.4 from 55.4, missing estimates of 54.7.