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 and Zinc. While Copper, Aluminium and Nickel stocks witnessed a built-up.

Copper stocks increased by 4625 tonnes. While Aluminium and Nickel stocks rose by 35425 tonnes and 3210 tonnes respectively. On the other hand, stock levels of lead declined 1800 tonnes. While, Zinc stocks fell by 2925 tonnes.

Gold hovers around 5-DMA

Gold prices on Comex continued to trade around a flatline, consolidating above 1150 levels, despite a sharp drop in the DXY, as traders remain on the sidelines ahead of the start of the two-day Federal Reserve meeting later in the day.
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GBP/JPY drops, eyes 200-DMA

The GBP/JPY pair fell on Tuesday, inching fast towards its 200-DMA located at 178.94 levels. The weak UK Gilt yields continue to weigh over the British Pound.
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