BLBG:Nickel Leads Metals Lower Before Possible U.S. Cuts: LME Preview
Nickel led industrial metals lower on speculation automatic spending cuts set to begin March 1 will damage the U.S. economy.
Market News:
Metals News:
Metals Prices:
-- Copper slipped 0.1 percent at $7,824.75 a metric at 7:18
a.m. on the London Metal Exchange. Relative strength index 34.
-- Aluminum retreated 0.5 percent to $2,026 a ton. RSI 36.
-- Nickel declined 0.7 percent to $16,588 a ton. RSI 33.
-- Lead dropped 0.5 percent to $2,281.75 a ton. RSI 36.
-- Tin was down 0.1 percent at $23,126 a ton. RSI 27.
-- Zinc fell 0.4 percent to $2,080 a ton. RSI 39.
Other markets: Last % Change % YTD
U.S. Dollar Index 81.79 0.2 2.5
Crude Oil $92.45 -0.7 0.7
Gold $1,592.14 -0.1 -4.9
MSCI World Index 1,389.46 -0.1 3.8
Economic Events:
Survey Prior Time
(London)
US House Price Index 0.6% 0.6% 14:00
US Richmond Fed Manuf. Index -4 -12 15:00
US Consumer Confidence 62.0 58.6 15:00
US New Home Sales 3.0% -7.3% 15:00
To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net
