Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally.

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The AUD/USD pair climbed towards February peaks after Australian Q4 GDP data beat expectations. Growth declined 1.1% (YoY) while rising 3.1% (QoQ) versus -1.9% and 2.5% estimated respectively.

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US equities failed to extend gains from Monday as Treasury yields aesed. Elsewhere, the Canadian Dollar gained versus the Greenback despite falling crude oil prices.

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The ASX 200 and Nikkei 225 have pulled back from their pandemic highs following late February’s bond market volatility.

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