BEIJING, Jan 15 (Reuters) – London copper prices were steady on Monday as the U.S. dollar weakened, while investors gauged demand outlook from top consumer China after its central back surprised markets by keeping its medium-term policy rate steady. Three-month copper on the London Metal Exchange held ground at $8,350 per metric ton by 0538 GMT, having shed 1.5% last week. The dollar ebbed as bets for a Federal Reserve’s rate cut in March have gathered steam after data on Friday showed U.S. producer prices unexpectedly fell last month. A weaker U.S. dollar makes it cheaper for traders to buy the greenback-priced commodity. China’s central bank left the medium-term policy rate unchanged on Monday, defying market expectations for a cut…
Published Date: 2024-01-15
Source: Market Screener
Categories: Business, Investing, Stocks and Bonds, Commodities and Futures, Shopping, Antiques and Collectibles, Paper Money, Exchanges
