Metals Mixed Ahead of US Jobs Data -- Market Talk
10 March 2023, 10:22
0822 GMT - Base metal prices are moving lower in early trading in London as traders look away from risk assets ahead of Friday's U.S. jobs report. Three-month copper is down 0.8% to $8,766 a metric ton while nickel is 1% lower at $22,965 a ton. Gold meanwhile is pushing higher, up 0.3% to $1,840.70 a troy ounce. "Markets have been in risk-off mode since Powell's hawkish comments mid-week," Dave Whitcomb, head of research at Peak Trading Research, says in a note. "A strong nonfarm payroll print would drive another wave of selling across the commodity complex via hawkish Fed expectations and a stronger U.S. dollar," he says, indicating any number above 400,000 would spur selling.
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yusuf.khan@wsj.com) (END) Dow Jones Newswires March 10, 2023 03:22 ET (08:22 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.