Producers of metals and other raw materials rose as the dollar lost ground in advance of inflation data.
The dollar has slid in recent weeks as traders bet that easing inflation data would allow the Federal Reserve to soften its rate-hiking policy.
"Chair Powell reiterated data dependence" at the recent central-bank meeting, said strategists at brokerage UBS, in a note to clients. "[This] week they get the data upon which a lot depends."
Meanwhile, expectations for a rebound in Chinese growth have pushed up metals prices. Industrial metals saw their biggest monthly gains in more than a decade in January, with copper futures posting their best start to the year since 2003, as reported earlier.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-13-23 1709ET
