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Commodity Post Session News

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(03 Feb 2025, 18:07)

Copper near one month low

COMEX Copper futures tanked today amid a spike in the US dollar, extending latest losses on fears over global trade wars and weak equities. The US dollar index soared around 110 mark, nearing a two-year peak, following President Trump’s sweeping tariffs on Canada, Mexico, and China. Copper tested one month low following this and currently trades at $4.24 per pound, down 0.88% on the day. Asian stocks eased with Japanese Nikkei average tumbling around 2.66%. Markets in mainland China remained closed for the Lunar New Year holiday while Hong Kong's Hang Seng index ended slightly lower. European stocks slumped with major indices losing around 2% as global trade fears weighed on the sentiments. The US stocks slipped on Friday with Dow falling around 0.8%
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