Copper rises over 1% as dollar falls

2021-09-15 15:29:24 GMT (Economies.com)
Copper rises over 1% as dollar falls

Copper prices rose on Wednesday, as the US dollar fell against most currencies, while investors parse the US inflation data.

 

The US consumer price index rose by 0.3% in August, lower than forecasts of 0.4%. 

 

The core reading (excluding food and fuel prices) rose by 0.1%, lower than forecasts of 0.3%.

 

The data increased uncertainty about the Federal Reserve's next move, especially about reducing the asset purchase program, as inflation seen the largest slowdown in 6 month.

 

Copper 3-month futures rose 0.5% to $9,486 per tonne in the London Metal Exchange.

 

The dollar index fell against a basket of major currencies by 0.1% to 92.5 points as of 13:37 GMT, after hitting a high of 92.6 points and a low of 92.4 points.

 

As of 13:36 GMT, copper December futures rose 1.1% to $4.37 a pound.

 
 
 
  Symbol Last Change Chg.%
1.1735
0.0021
0.1788%
1.3721
0.0045
0.3301%
Tadawul
11270.57
-40.58
0.36%
22.702
0.402
1.800%
73.461
2.528
3.564%
77.59
0.32
0.41%
1754.245
-2.560
0.146%
 
 
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