Copper Cuts Losses on US Data, German Vote

Reuters reported that copper cut losses as market sentiment improved after U.S. jobs data lessened recession worries and after the German parliament approved a good rescue fund for the euro zone.

The market news is quoted as saying:

Data showed that the number of Americans claiming new unemployment benefits fell to a five-month low last week, while the U.S. economy grew slightly more than previously reported in the second quarter, offering the latest suggestions that a recession was not on the cards.

Germany’s approval of the beefed-up bailout fund with stronger support than expected in the Bundestag (lower house of parliament) also provoked relief in markets worried about Berlin’s commitment to resolving the debt crisis.

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