AP: US dollar strengthens on positive hsg, consumer data
Euro was looking vulnerable, as short-covering bout may have run its course and fiscal worries resurfaced.
Dollar strengthened on Tuesday on the back of positive US housing and consumer data. US consumer confidence was up to 52.5 in March from 46.4 in February, against expected 51. Home prices in 20 US cities rose 0.3% in January.
Crude
May crude futures went up 0.2% at USD 82.37 a barrel on the New York Mercantile Exchange.
Gold
April gold futures slipped 0.5% at USD 1104.5/ounce and it is on track to end up less than 1% in the January -March quarter.
Base metals
Copper extended previous session's 19-month high.
Aluminium has hit USD 2,314/tonne and closed at highest level since January 19 on Tuesday. It closed at USD 2,294/tonne.
Data to watch
-US weekly mortgage apps
-US ADP employment report
-US factory orders
-US weekly crude inventories
Anand Rathi Commodities advised;
-To buy Gold MCX June futures at Rs 16300-16320 per 10 grams, with stoploss at Rs 16200 and target of Rs 16450.
-To sell Crude MCX April if breaks below Rs 3690 per barrel, with stoploss at Rs 3750 and target of Rs 3600.
-To buy Copper MCX April future at Rs 350 per kg, with stoploss at Rs 347 and target of Rs 356.