As the dollar strengthens and demand fluctuates, nickel prices fall under pressure Time: 10/05/2023 09:11:25

   According to foreign media reports on September 27, 2023, nickel prices fell on Wednesday as the U.S. dollar strengthened against most major competitors while traders assessed demand conditions.

   Investors await key negotiations in Washington this week that could prevent a government shutdown in October if Congress passes a spending bill.

   Moody's recently warned that the U.S. government shutdown would damage its credit rating, a month after ratings agency Fitch downgraded the U.S. by a notch amid the debt ceiling crisis.

   Investors are also awaiting important U.S. personal spending data, which is key to measuring inflation, as well as a speech from Federal Reserve Chairman Jerome Powell.

   The market is also awaiting the outcome of ongoing negotiations between unions and car companies as strikes threaten production.

   Nickel is used heavily in the steel and electric vehicle industries for its potential in battery manufacturing.

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