LONDON, Sept 29 (Reuters) - Copper prices breached the $8,000 level for the first time since mid-April on Wednesday, as weak macro data in the previous session, coupled with talk of further quantitative easing in the United States, weighed on the dollar to support industrial metals. A weak U.S. currency makes metals priced in dollars less expensive for holders of other currencies. [USD/] "It's mainly driven by the weak dollar," Daniel Briesemann, analyst at Commerzbank said. "The latest increase in metals prices can be justified by a better fundamental situation in most metals, but the increase is probably exaggerated, so we expect a price correction before going higher next year." Copper CMCU3 for three-month delivery on the London Metal Exchange touched a high at $8,038 a tonne compared with $7,951.00 at the close on Tuesday. On Tuesday, U.S. consumer confidence fell to its lowest level in seven months in September, underscoring lingering worries about the strength of the economic recovery. [ID:nN28262737] The Fed is likely preparing a fresh round of quantitative easing measures to announce at the end of its Nov. 2-3 meeting, a report by influential hedge fund adviser Medley Global Advisors said on Tuesday, a source told Reuters. [ID:nN28181349] "Tuesday afternoon when the U.S. economic data was published, the mood changed completely," added Briesemann. "The very weak U.S. dollar led to the rise in almost all commodity prices and that continues this morning." PRICES * Three-month copper CMCU3 on the London Metal Exchange was at $8,035 a tonne by 0728 GMT compared with Tuesday's close of $7,951 a tonne while aluminium CMAL3 was $23 higher at $2,332. DATA/EVENTS * UK consumer credit for August at 0830 GMT. * UK mortgage applications and lending for August at 0830 GMT. * Euro zone economic sentiment for September at 0900 GMT. * Weekly U.S. mortgage market index at 1100 GMT. * IMF releases analytical chapters of Global Financial Stability Report at 1500 GMT. * UK GFK survey for September at 2301 GMT. * Japan September manufacturing PMI at 2315 GMT. * Japan August industrial output at 2350 GMT. [ECI/US] [ECI/EURO] [ECI/GB] [M/DIARY] [MTL/DIARY] MARKET NEWS * Asian stocks hit a two-year high and the dollar was stuck near a seven-month low after poor U.S. data reinforced expectations the U.S. Federal Reserve will take more action to help the struggling economy. [MKTS/GLOB] * The ailing dollar looked vulnerable to further losses against a swathe of currencies on Wednesday as falling Treasury yields and disappointing U.S. data fuelled talk that U.S. policy needed further easing. [USD/] * Oil rose on Wednesday after an industry report showed crude and winter fuel stockpiles declined last week in top-consumer the United States, reducing a surplus that has weighed on market sentiment for months. [O/R] * U.S. stocks rose on Tuesday as latecomers jumped onto the September bandwagon, buying up sectors that have outperformed during the month. [.N] FUNDAMENTALS * Russia's UC RUSAL (0486.HK) has filed a lawsuit against Norilsk Nickel (GMKN.MM), the world's largest nickel and palladium miner, to overturn a disputed board vote, RUSAL said on Tuesday. [ID:nLDE68R1S4] * Exchange-traded products backed by physical supplies of industrial metals are likely to be launched before the end of this year and trigger new demand, Deutsche Bank said in a research note on Tuesday. [ID:nLDE68R1S9] * METALS INSIDER - Back to the future for copper? [ID:nLDE68R21S] * Exporters in Chile, a major producer of fruit, wine and wood pulp, on Tuesday urged the central bank to step into the forex market and curb a rapidly appreciating peso that has hurt profits. [ID:nN28145977] * Vedanta-owned (VED.L) Sterlite Industries (STRL.BO) has closed its Tuticorin copper smelter in south India after a court order, sending its shares down 8 percent. [ID:nSGE68S07D] * China's monthly production of primary aluminium is likely to fall month-on-month for the rest of 2010 as some local governments limit power supplies to smelters to help Beijing meet its energy saving target, a senior industry analyst said. [ID:nTOE68R07P] * Indonesia's refined tin output may fall nearly 6 percent this year as heavy rains hit mining and more easily mined onshore reserves are being depleted, an analyst at the International Tin Research Institute said on Tuesday. [ID:nJAK354555] TECHNICALS * Copper support at $7,810, resistance $8,045 and 14-day RSI at 74.0. * Aluminium support at $2,265, resistance at $2,351 and 14-day RSI 74.5. (Reporting by Michael Taylor; editing by Alison Birrane)

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