Copper futures little changed ahead of US Fed decision

Copper futures little changed ahead of US Fed decision

14/12/2016 15:35

Copper futures little changed during afternoon trade in the domestic market on Wednesday as investors and speculators build up their positions in the industrial metal as the US dollar eased and investors waited for the Federal Reserve commentary that may cast fresh light over its outlook for the US interest rate hike next year.

Traders were waiting the FOMC (Federal Open Market Committee) meeting and want to see whether the Fed will signal any acceleration in the pace of future rate rises to deal with an expected ramp-up in fiscal spending under President-elect Donald Trump.

At the MCX, copper futures for February 2017 contract is trading at Rs 389.05 per kg, up by 0.04 per cent, after opening at Rs 387.45, against a previous close of Rs 388.90. It touched the intra-day high of Rs 391.45 (at 15:21 hours).

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