Copper drops, but eyes weekly gain

Copper futures fell on Friday, weighed down by the dollar's rally against most currencies, and the release of a disappointing monthly jobs report, which sparkred investors' fears about the US economy performance.

The US Department of Labor revealed that the US economy has lost around 701,000 jobs in March, and the unemployment rate jumped to 4.4% in March vs. 3.5% during February.

The dollar index rose 0.4% to 100.6 points as of 13:34 GMT, after it hit a high of 100.8 and a low of 100.1.

Worldwide coronavirus infections surpassed the 1 million cases barrier on Thursday, according to data by Johns Hopkins University, and the death toll rose to over 53,000 victims.

Copper May futures dipped 0.6% to trade at $2.20 per pound as of 13:31 GMT, after hitting an intraday high of $2.23 and a low of $2.19.