Tepid US private jobs data weighs on Copper
07/05/2015 13:13
Copper futures were trading marginally lower in the domestic market on Thursday, as investors and speculators refrained from booking fresh positions in the industrial metal, after the American private sector added fewer than expected jobs in April, signaling a slowdown in the labour market of the world’s biggest economy, clouding the demand outlook for copper.
The US private sector added 169,000 workers in May, compared to a downwardly revised 175,000 increase in March.
All eyes are on Friday’s non-farm payrolls data which may have a bearing on the Fed’s decision to raise interest rates.
At the MCX, Copper futures for June 2015 contract is trading at Rs 414.90 per 1 kg, down by 0.01 per cent after opening at Rs 414.10, against the previous closing price of Rs 414.95. It touched the intra-day low of Rs 413. (At 12:20 PM).
07/05/2015 13:13
Copper futures were trading marginally lower in the domestic market on Thursday, as investors and speculators refrained from booking fresh positions in the industrial metal, after the American private sector added fewer than expected jobs in April, signaling a slowdown in the labour market of the world’s biggest economy, clouding the demand outlook for copper.
The US private sector added 169,000 workers in May, compared to a downwardly revised 175,000 increase in March.
All eyes are on Friday’s non-farm payrolls data which may have a bearing on the Fed’s decision to raise interest rates.
At the MCX, Copper futures for June 2015 contract is trading at Rs 414.90 per 1 kg, down by 0.01 per cent after opening at Rs 414.10, against the previous closing price of Rs 414.95. It touched the intra-day low of Rs 413. (At 12:20 PM).
