Copper slips amid strong economic data

Economies.com
2019-04-05 14:10PM UTC

Copper prices fell slightly during the day despite the release of the US monthly job report, which recorded strong data that exceeded analysts' expectations.

 

Optimism about the trade negotiations between the United States and China continued to spread in the markets despite that Donald Trump didn't announce a date or details for the upcoming summit with his Chinese counterpart, Xi Jinping.

 

Data showed that the US economy added 196,000 jobs in March and the unemployment rate stabilized at 3.8%, while analysts expected 172,000 jobs.

 

In a related context, by 13:53 GMT, the dollar index (against a number of major currencies) settled at 97.3 points, the highest level at 97.3 points and the lowest level at 97.1 points.

 

Meanwhile, by 13:51 GMT, copper futures (May delivery) fell by 0.1% to $2.90 a pound, with the highest price at $2.92 and the lowest at $2.90.

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