Copper jumps to two-year peak
Copper prices rose on Friday, as the US dollar fell against most majors amid broad anticipation of the US presidential election results.
Copper extended its rally for the fifth straight day as the gap continued to narrow between the Republican candidate Donald Trump against his Democratic rival Joe Biden in the race to the US presidency.
Biden chances for the presidency are much higher now, but Republicans will control the Senate and may block his efforts to inject further monetary stimulus.
Copper 3-month futures at LME rose 1.4% to $6,946.5 per tonne, as the metal gained 2.5% so far during this week.
The dollar index fell against a basket of currencies by less than 0.1% to 92.4 points as of 14:55 GMT, after it hit a high of 92.8 points and a low of 92.2 points.
Copper December futures rose 1.2% to $3.14 per pound as of 14:53 GMT, with a high of $3.17 and a low of $3.10.
Canadian unemployment rate falls more than expected in October
At 13:30 GMT, the Canadian economy released the unemployment rate reading for October at 8.9%, beating forecasts of 9%, better than the previous reading of 9%. This data is positive for the Canadian economy.
Canadian economy adds more jobs than expected in October
At 13:30 GMT, the Canadian economy released the employment change reading for October, which showed that the economy has added 83.6K new jobs, beating forecasts of 59.0K jobs, but still lower than the previous reading of 378.2K jobs. This data is positive for the Canadian dollar.
US economy adds more jobs than expected
At 13:30 GMT, the US economy released the non-farm employment change reading for October, which showed that the economy has added 0.638 million new jobs, beating forecasts of 0.595 million jobs, but still lower than the previous reading of 0.672 million after it was revised from 0.661 million jobs. This data is positive for the US economy.