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London copper rose more than 1% on Friday on news that the Federal Reserve may pause interest rate hikes

 Last Update: 2022-12-14
 Source: Internet
 Author: User

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London copper rose more than 1% on Friday on news on reports that the US Federal Reserve may pause interest rate hikes, helping copper rebound
from its biggest decline in five weeks recorded in the previous day.

London copper

Three-month copper on the London Metal Exchange rose 1.
04 percent to $
6,133 a tonne.

The contract fell as much as 1.
7 percent on Thursday, hitting its lowest level since Nov.
14 as news of the arrest of a Chinese Huawei executive in Canada lowered hopes
of resolving the trade conflict between China and the United States.

The main 1902 contract fell 0.
1% to 49,100 yuan
a tonne.

There are reports that Fed officials are considering whether to take a new wait-and-see stance
after a possible December rate hike.
The news spurred Asian equities higher
.

Two U.
S.
officials said President Trump was unaware of plans to arrest Huawei's CFO in Canada, apparently to prevent the matter from affecting key U.
S.
-China trade talks
.

Fed Chairman Jerome Powell said the U.
S.
economy is "doing very well overall.
"
The US non-farm payrolls report released on Friday, and analysts said that the United States is expected to add 200,000 nonfarm payrolls in November and 250,000
in October.

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