MCX Base Metal Outlook
In the evening session, we expect precious metals and base metals to trade with a negative bias today, on the back of strength in the dollar index coupled with weak sentiments in the global markets due to reduced expectations of further monetary stimulus from Fed.
We expect crude oil prices to trade lower in the evening session taking cues from expected of rise in US crude oil inventories and a stronger dollar.
US ADP non-farm employment change and ISM non-manufacturing PMI data is expected to be on a negative side today and if the data comes as expected then this will further Lead to downside pressure in the commodity prices.
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