We expect MCX base metals to trade higher today mainly on account of a weaker dollar as a weaker dollar makes dollar denominated commodities look cheaper for the holders of other currencies.
Additionally, rise in risk appetite in the global markets will also act as a positive factor for the metals today.
The base metals pack traded on a mixed note on the MCX in yesterday’s trading session with copper and aluminium trading in the red while nickel, lead and zinc ended in the green.
LME was closed yesterday in observance of the Summer Bank Holiday and due to this less volatility was witness on the MCX.
Additionally, rise in risk appetite in the global markets will also act as a positive factor for the metals today.
The base metals pack traded on a mixed note on the MCX in yesterday’s trading session with copper and aluminium trading in the red while nickel, lead and zinc ended in the green.
LME was closed yesterday in observance of the Summer Bank Holiday and due to this less volatility was witness on the MCX.
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