China Aluminium Network
Base Metals Retreated On Optimism Over European Debt Crisis Recovery
Edited by : AL CIRCLE
1 min read
Investor's hopes on the European policy makers to come out with a credible plan to cut Greece debts and recapitalize banks led the metals to rebound form steep losses but the uncertainties at the moment are cramping the metals to trade at higher levels. Also, ECB is planning for meeting in the next week to revive its interest rates to shore up the economy also added to the optimism. Faltering dollar capping the gains.
Meanwhile, the investor's were awaited for forthcoming economic data from US on Tuesday such as the Fed Midwest Manufacturing Index for August, the S&P Case/Shiller Home Price Index for July, September consumer confidence, as well as the Federal Reserve Bank of Richmond's September indexes on area manufacturing and service sectors.
The dollar index edged up by 0.08% at 78.05 against the basket of 6 major currencies despite the rise in stocks on easing concerns over European debt crisis.
Aluminium was trading flat at Rs. 108.6 per kg.
Meanwhile, the investor's were awaited for forthcoming economic data from US on Tuesday such as the Fed Midwest Manufacturing Index for August, the S&P Case/Shiller Home Price Index for July, September consumer confidence, as well as the Federal Reserve Bank of Richmond's September indexes on area manufacturing and service sectors.
The dollar index edged up by 0.08% at 78.05 against the basket of 6 major currencies despite the rise in stocks on easing concerns over European debt crisis.
Aluminium was trading flat at Rs. 108.6 per kg.
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