Copper settled down -0.37% at 458.7 as investors digested the U. S. central bank's decision to trim its stimulus programme. Economic data from the US and Europe exceeded forecasts. The US Q3 real GDP growth was finalized at 4.1% YoY, its highest since Q4 2011 and well beyond the 3.6% expected. This was mainly driven by better-than-expected consumer spending. Personal consumption expenditure (PCE) price index in Q3 also outran the 1.4% estimate to 2.0% at an annualized rate. In Europe, final reading for UK's Q3 GDP growth was 1.9% YoY, higher than the 1.5% projection. GfK German consumer confidence index for January also advanced to its highest in nearly 6-1/2 years at 7.6. and the December French business confidence rose to 100, a high last seen in September 2011. The US dollar index fell after rising initially. The whole base metals complex pared losses sustained after the U. S. central bank ended months of market jitters by trimming its monthly bond purchases, which have flooded the market with cheap dollars, many of which found their way into riskier assets and commodities. Also brightening the outlook for the metal was an unexpectedly strong report on U. S. growth boosted investor confidence that the economy could support a wind-down of the Fed's bond buying. Inventories in LME-monitored warehouses fell 1,375 tonnes to 382,550 tonnes, the lowest level in more than 10 months, latest exchange data showed. Now Copper is getting support at 457.4 and below same could see a test of 455.9 level, And resistance is now likely to be seen at 461.3, a move above could see prices testing 463.7.

Trading Ideas:

Copper trading range for the day is 455.9-463.7.

Copper ended with losses as investors digested the U. S. central bank's decision to trim its stimulus programme.

Low availability of physical material for nearby delivery had supported copper in the last few days.

Stocks of copper in warehouses monitored by the Shanghai Futures Exchange also fell, were 8.4 % down from last Friday at 131,128 tonnes