MARKET OVERVIEW - Base Metals Decline Amid Rising Dollar

Forex - Base metal prices traded mostly lower under pressure from potential clues from the dollar and U.S. economic data, but optimism from last week's policy meeting in China helped limit the losses. The People's Bank of China announced on Friday that it plans to cut reserve requirements and interest rates at an appropriate time following its quarterly monetary policy committee meeting. China's decision underscores a broader strategy to revive growth in the world's second-largest economy, which is affected by challenges in the real estate sector impacting consumer wealth and household spending. The dollar remained near a two-year high as traders awaited U.S. economic data this week. The main focus is on the December non-farm payroll report, which could provide insights into the Fed's interest rate plans. At the London Metal Exchange (LME), three-month copper traded unchanged at $8,874 per ton at 04:56 GMT. At the Shanghai Futures Exchange (SHFE), the January copper contract rose by 1% to 73,760 yuan/ton ($10,065.09) at the end of the Asian afternoon session. At the LME, aluminum fell by 0.2% to $2,487 per ton, nickel decreased by 0.6% to $15,025 per ton, zinc was down 0.2% at $2,881 per ton, tin declined by 0.3% to $29,025 per ton, while lead increased by 0.1% to $1,924 per ton.