Copper futures rose above $4.13 per pound on Tuesday, building on gains from the previous session as the US dollar retreated from recent highs, offering some relief to commodity prices.
Copper edges higher as dollar pulls back
This move followed profit-taking in the dollar, as investors awaited upcoming economic reports and commentary from the Federal Reserve later in the week for fresh insights into US monetary policy. Additionally, market participants are closely monitoring the potential for economic stimulus measures from China, which could impact demand from the world’s largest copper consumer.
Concerns on Trump's policies
However, concerns over Washington's evolving trade policy and the appointment of China hawks to key positions in the upcoming Trump administration have kept market sentiment somewhat cautious.
