ZOID RESEARCH 21-AUGUST-2014 : COPPER

LME Copper prices rose sharply by more than 2 percent in yesterday’s trade due to rise in US housing starts data to eight month high level. Further, building of stocks by the Chinese economy after taking advantage of lower prices supported an upside in the prices. Additionally, upbeat market sentiments and optimistic economic data from UK continued with positive movement in the prices. However, sharp upside in the prices was capped due to strength in the DX in yesterday’s trading session.

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