Copper Lingers Near Flat Line; Fed Minutes In Focus

23 Nov 2022 , 05:20 PM

Copper stayed near the flat line as dollar extended pullback ahead of the Fed minutes and on expectations that the Federal Reserve will hike interest rates at a slower pace in the near-term. The U.S. dollar index, which measures the currency against a basket of six counterparts, was broadly flat at 107.1. Meanwhile, copper tracked Asian stocks that ended mostly higher on Wednesday. However, lingering worries about the rising Covid cases in China is likely to keep the red metal under pressure. COMEX copper futures are currently quoting near the flat line at $3.61 per pound. Powered by Commodity Insights