LME Inventory Update

FXStreet (Mumbai) - The warehouse stocks data released daily by the London Metal Exchange (LME) showed a drop in the inventory levels of Lead, Zinc and Aluminium. While Copper and Nickel stocks witnessed a built-up.

Copper stocks increased by 350 tonnes. While stock levels of nickel added 2490 tonnes. On the other hand, Zinc stocks fell by mere 25 tonnes. While, Lead and Aluminium witnessed a drawdown of 500 tonnes and 6725 tonnes respectively.

GBP/USD lifted above 1.4880

GBP/USD bounced-off 1.49 handle and remains elevated in the mid-European session, as the pair seems mainly driven by US dollar moves in a relatively dry GBP economic calendar ahead of US macro data and Fed’s Evans speech later in the day.
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EUR/USD correction slowing? – KBC

The KBC Bank Research Team believes that the EUR/USD rally might be slowing as the pair failed to break the post-Fed high at 1.1043, but any sustained USD comeback looks highly unlikely as US bond yields continue to fall.
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