Market Update: 

The US dollar declined against major currencies early Monday following President-elect Donald Trump's weekend announcement of Scott Bessent as his choice for Treasury Secretary. Bessent is expected to adopt a more cautious stance on tariffs and emphasize efforts to shrink the budget deficit. This weekend's news sparked a reaction early this morning in Asian markets. The USD Index has slipped by 0.5%, currently trading at 106.86. As a result, most dollar-denominated assets, particularly metals, are showing gains. The phrase "cautious stance on tariffs" has boosted metals trading approximately 1% higher this morning.

 The recent fall in the price was triggered during the US election Mr. Trump may have a tough stance on the tariff however, over the weekend development may have changed the stance, and it was required such initiative as Mr. Trump isn’t just elected to impose tariffs rather major focus is on reducing the budget deficit. We believe this development may bring positivity to the trend, especially in the metals sector. The recent price decline was driven by concerns during the US election that Mr. Trump might adopt a tough stance on tariffs. However, developments over the weekend suggest a potential shift in approach. This change was necessary, as Mr. Trump’s focus extends beyond imposing tariffs to prioritizing the reduction of the budget deficit. We believe this development could foster a positive trend, particularly in the metals sector. The week is just getting started, with a lineup of significant economic data scheduled over the coming days. Key indicators to watch include US new home sales, GDP figures, and durable goods orders. From China, industrial profits and manufacturing data will be crucial in shaping trends, particularly in the metals market.

Stay tuned for updates throughout the week!

 Levels to notice 3M Forward

 Aluminum: $2540 to $2760, Copper: $8850 to $9350, Zinc: $2900 to $3100, Lead: $1980 to $2120. Nickel: $15500 to $1700, Tin: $28500 to $30000