Weakening US dollar and the eye on few more economic events to be released today by the evening boosted the investor's appetite contrasting the escalating worries on the U.S. debt crisis and led the base metals to trade in positive territory during the mid morning. Economist's forecasts on the U.S. new home sales ranged from 300,000 to 342,000. Sales ran at a 320,000 annual pace last month after a 319,000 rate the prior month while the consumer confidence actual number is 58.5 vs estimates of 57.1 representing a fall in this month. Meanwhile in Europe, the Consumer sentiment in Germany has dampened in July with the overall indicator forecasting a value of 5.4 points for August, following a revised value of 5.5 points in July but the drop was marginally lower. The dollar dampening against the euro after a speech by U.S. President Barack Obama gave no sign a deadlock in Washington over raising the debt limit. Dollar Index against a basket of 6 major currencies was trading lower by 0.76% at 73.55 around midday. In domestic markets, Nickel esteemed by 1.1% or Rs. 11.6 at Rs. 1070.5 per kg and Copper for delivery in August buoyed by 0.76% or Rs. 3.3 at Rs. 436.9 per kg with its high at Rs. 437.4 per kg. Other metals were trading marginally higher such as Aluminium was trading at Rs. 115.9 per kg and Battery material Lead was trading at Rs. 119.45 per kg. MCX Zinc was flat at Rs. 109.2 per kg. At the SHFE, Copper futures for most active October contract was trading at 72670 yuan per tonne, up 1140 yuan. Comex Copper futures for most active September contract was trading at $4.4525 a pound up by 5 cents from $ 4.4065 during the previous day.

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