LME Inventory Update

FXStreet (Mumbai) - The warehouse stocks data released daily by the London Metal Exchange (LME) showed a rise in the inventory levels of Nickel. On the other hand, the inventory levels of Copper, Aluminium and Zinc declined.

Copper stocks declined by 100 tonnes, while nickel inventories rose by 474 tonnes. On the other hand, aluminium inventories witnessed a massive draw down of 10350 tonnes, while zinc stocks got subtracted by 4200 tonnes. Meanwhile, the stock levels of Lead remained unchanged again.

Jan 7, 2015

Copper trades close to 4-1/2 year lows

Copper futures on Comex extended losses from the previous session and edged lower during the European session, after bearish economic data from the Euro zone and the US fuelled concerns over the health of the global economy, dampening the demand outlook for the metal.

USD/JPY oscillates around 119.00

USD/JPY recovered from a 3-week low struck yesterday, although it was capped by the 50-hour SMA at 119.25, leaving the more important 119.85 resistance area out of reach.