NEW DELHI, Jan 24 (Reuters) - Copper prices inched higher on Tuesday, supported by a weaker dollar, even as trade remained lacklustre due to the Lunar New Year holidays in top consumer China.
Three-month copper on the London Metal Exchange was up 0.25% at $9,379.50 a tonne, as of 0639 GMT, with investors awaiting key U.S. economic data for further direction on the Federal Reserve's rate-hike trajectory.
"With appetite from China lower over the holiday period, attention will once again turn to Western economic releases to help drive sentiment," Sucden Financial said in a note.
Market participants are awaiting U.S. flash PMI data due on Tuesday and economic growth data later this week.
The dollar hovered near a nine-month low to the euro and gave back recent gains against the yen, as traders weighed the risks of a U.S. recession and the path for Fed's policy.
A weaker dollar makes the greenback-priced commodity more attractive for those holding other currencies.
In other metals, aluminium was up 0.11% at $2,639.50, zinc gained 0.4% to $3,435 and lead was up 0.78% at $2,071.
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DATA/EVENTS (GMT) 0745 France Business Climate Mfg Jan 0745 France Business Climate Overall Jan 0815 France S&P Global Mfg, Serv Comp Flash PMIs Jan 0830 Germany S&P Global Mfg, Serv Comp Flash PMIs Jan 0900 EU S&P Global Mfg, Serv Comp Flash PMIs Jan 0930 UK Flash Comp, Mfg, Serv PMIs Jan 1100 UK CBI Business Optimism Q1 1445 US S&P Global Mfg, Serv Comp Flash PMIs Jan (Reporting by Neha Arora; Editing by Subhranshu Sahu and Sherry Jacob-Phillips)
