Better than expected readings on manufacturing reportedly gave a boost to the dollar this morning and helped reverse early stock market losses while commodity prices mostly lost ground. The DJ-UBS commodity futures index was off nearly 0.4% late this morning following the release of the November Purchasing Managers’ Index which registered the highest reading of the year at 57.3, indicating continued expansion in the manufacturing sector. As the dollar strengthened to around $1.354 against the Euro and over 103 Japanese Yen, LME 3-mo. copper and aluminum prices reportedly dipped as low as $6,965/mt (=$3.16/lb.) and $1,736.25/mt (=78.8 cents/lb.), respectively, earlier today. In New York, gold prices remained under pressure, falling to around $1,225/to, while crude oil futures firmed by $1 to approach $94/bbl. On Wall Street the Dow Industrials retraced this morning’s dip and were little changed at mid-day as the yield on 10-year Treasury notes edged up to 2.8%…
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