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Commodity News Details
Copper crashes 1.5% as US dollar spikes
23-Oct-2024 18:25
COMEX Copper futures cracked lower as commodities reeled under pressure amid firm cues from the US dollar. The red metal currently quotes at $4.31 per pound, down 1.50% on the day and nearing one month low yet again as the US dollar index hit fresh three month high of 104.35. Equities were mixed today. In Asia, China's Shanghai Composite index rose 0.52%. Hong Kong's Hang Seng index jumped 1.27% while Japanese Nikkei index fell 0.80%. European markets stayed lax with French CAC index dipping around half a percent. The US stocks regained ground on Tuesday while the major averages their worst levels of the day before ending the day little changed. The major averages moved to the downside going into the close, finishing narrowly mixed.

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