Copper declines amid global economic uncertainty

Economies.com
1 week ago

Copper prices fell on Monday as the dollar rose against a basket of major rivals and amid uncertainty about the global economy. 

 

After her earlier warnings about economic slowdown in a third of the global economy, IMF Chief Cristalina Goergiva expresses optimism that the US economy might just avoid recession.

 

As recession concerns spread, major tech companies like Google, Microsoft, Meta, Twitter, and Amazon announced a big wave of layoff to cut costs. 

 

Otherwise, the dollar index rose 0.2% to 102.2 as of 15:05 GMT, with a session-high at 102.2, and a low at 101.5. 

 

Copper futures due in March shed 0.1% to $4.24 a pound as of 15:59 GMT. 

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