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Industrial Metals Leading, Energy Products Lagging

COMMODITIES

Oil futures are in minor negative territory ahead of US hours, although losses are modest, with OPEC+ headline risk still a key factor this week. WTI crude futures showed briefly below $44/bbl in Asia-Pac trade, new lows on the week.

Copper futures hold much of the recent rally, underpinning industrial metals and commodity-tied currencies this week. Copper futures sit just below the Tuesday multi-decade high of $352.15 and comfortably north of yesterday's lows.

Gold is higher for a second session, adding to yesterday's gains after securing a close back above the 200-dma. 1839.14 becomes first resistance ahead of the 1880.77 50-dma.

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