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%
|
|
