Even on Wednesday, London forwards were seen trading with marginal losses as Dollar was at 1.293 against the Euro, up 11 pips on 28 Nov 2012. Dollar index settled at 80.36 against the basket of six major currencies, as against 80.18 on 26 November 2012. Indian Rupee moved away from 56 on Tuesday. This is the first decline seen in INR in last five days. The Rupee was trading at 55.45 against the Dollar, down 25 pips.
In US, home price index recovered more than expected in September. This was the sixth consecutive month of gain in home price index. The S&P Case Shiller index rose at an annualized rate of 3.0% in September from a year earlier, above expectations for a 2.9% increase. On a monthly basis, home process increased by 0.4%.
The U.S. Census Bureau said that core durable goods orders, excluding volatile transportation items, rose by a seasonally adjusted 1.5% in October, as against expectations of a 0.5% decline.
In France, consumer confidence remained unchanged in October. The consumer confidence was unchanged at 84 in October. The expectations were of a fall towards 83. In Germany, import price index jumped to a seasonally adjusted 0.6% in quarter ending September from -0.7% in the preceding quarter.
LME Copper are down by $ 27 per tonne at $ 7778 per tonne. A brief weakness in metals that was seen in Asian trades was eradicated soon after LME opening. Copper inventories declined by 275 tonnes to 249550 tonnes in London Metal Exchange on Tuesday. Meanwhile, MCX Copper February expiry contract settled at Rs 438 per kg, down 0.22%.
LME Aluminium was down by $ 11 per tonne at $ 2004 per tonne. The three month forward prices settled at $ 2015 per tonne. Meanwhile, Japan buyers were selling discounts from suppliers on account of lower demand. The dispute between China and Japan on East China Sea has resulted in lower sales of Japanese cars in Chinese markets and this is affecting demand of Aluminium.
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