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Copper ticks up as Fed rate hike bets cool
SINGAPORE: Copper nudged up on Monday, supported by an improving demand outlook after cooling interest rate expectations outweighed pressure from a strong dollar. Benchmark three-month copper on the London Metal Exchange was up 0.19% at $14,286 a metric ton by 0300 GMT. The market is weighing diminishing odds of an October US Federal Reserve interest rate hike after weaker-than-expected US jobs data last week tempered expectations that the central bank would raise rates to combat inflationary pressures. Rate traders are now pricing in an 18% chance of a rate hike at this month’s Fed meeting, d...
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