Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indexes  >  US Dollar Index       

US DOLLAR INDEX
My previous session
Most popular
SummaryChartsNews 
News SummaryAll newsMarketScreener Strategies
The feature you requested does not exist. However, we suggest the following feature:

Copper Closes Lower on Downbeat Economic Figures

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/14/2018 | 11:03pm CET

By David Hodari and Amrith Ramkumar

Copper fell alongside stocks and other risk assets Friday as weak economic data in China and Europe added to downbeat sentiment about global growth.

Copper for March delivery, the most active futures contract, closed down 0.2% at $2.7625 a pound on the Comex division of the New York Mercantile Exchange. Prices are down about 16% from their June four-year highs on fears that slower global economic growth will crimp demand for materials used heavily in construction and manufacturing.

Data released Friday showed a larger-than-expected deepening in China's economic downturn last month. Slipping retail sales and industrial-production figures piled further pressure on Beijing to halt a slowdown in 2019 while dealing with its continuing trade conflict with the U.S.

"Without the front loading of exports, this was seen as a better illustration of the poor state of the Chinese economy," said Alastair Munro, a broker at Marex Spectron, in a note.

China accounts for about half of global metals demand, and concerns about trade tensions and a weakening economy have pummeled materials of late.

Adding to the downbeat tone Friday, purchasing managers' surveys separately showed that French business activity unexpectedly contracted for the first time in 2 1/2 years, according to IHS Markit, while Germany's composite purchasing managers index reached its lowest level in four years.

The tepid figures pushed investors toward the dollar, also making commodities more expensive for overseas buyers. The WSJ Dollar Index, which tracks the dollar against a basket of 16 other currencies, rose 0.3%.

Elsewhere in base metals, aluminum for delivery in three months fell 0.3% to $1,926 a metric ton. Zinc dropped 0.9% to $2,543, tin edged down 0.4% to $19,330, nickel rose 2.1% to $11,080 and lead closed down less than 0.1% at $1,948.50.

Among precious metals, Comex gold for February delivery dropped 0.5% to $1,241.40 a troy ounce, hurt by the dollar's strength. Most-active silver futures fell 1.5% to $14.637, platinum shed 1.5% to $785.30 and palladium slumped 1.6% to $1,171.60.

Write to David Hodari at David.Hodari@dowjones.com and Amrith Ramkumar at amrith.ramkumar@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
LME COPPER CASH 0.73% 6196 End-of-day quote.-13.72%
SILVER -1.26% 14.54 Delayed Quote.-12.96%
US DOLLAR INDEX 0.39% 97.443 End-of-day quote.6.08%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on US DOLLAR INDEX
12/14Copper Closes Lower on Downbeat Economic Figures
DJ
12/14Global growth worry hits stocks, but U.S. data lifts dollar
RE
12/14Global growth worry hits stocks, but U.S. data lifts dollar
RE
12/14Global growth worry hits stocks, but U.S. data lifts dollar
RE
12/14Dollar scales to 19-month peak as gloom grows outside U.S
RE
12/14Oil Prices Decline as U.S. Stocks Fall
DJ
12/14CURRENCIES : Haven Dollar Touches 1 1/2 -year High As Global Growth Worries Domi..
DJ
12/14Oil Prices Follow Equities Lower as Dollar Climbs
DJ
12/14Copper Slumps on Downbeat Economic Figures
DJ
12/14GLOBAL MARKETS LIVE : Apple, Starbucks, Best Buy, LVMH…
More news
Chart US DOLLAR INDEX
Duration : Period :
US Dollar Index Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends US DOLLAR INDEX
Short TermMid-TermLong Term
TrendsNeutralBullishBullish