Base Metals Preview: Copper Up More Than 1% In Early Asia

24 Nov 2022 , 09:02 AM

Copper is seen quoting higher by more than 1% in early Asian trades on Thursday at $3.65 per pound supported by weakness in the dollar. The red metal also tracked higher equities on the Wall Street following the release of the minutes of the Federal Reserves early November monetary policy meeting, which provided further evidence the central bank is considering slowing the pace of its interest rate hikes. The minutes said a substantial majority of meeting participants judged that a slowing in the pace of rate hikes would likely soon be appropriate. The Nasdaq jumped 110.91 points or 1.0 percent to 11,285.32, the S&P 500 climbed 23.68 points or 0.6 percent to 4,027.26 and the Dow rose 95.96 points or 0.3 percent to 34,194.06.Powered by Commodity Insights