FX.co ★ Copper Climbs Higher on Weaker Dollar

Copper futures experienced a 1% increase, reaching approximately $4.69 per pound on Monday. This marks the third consecutive session of growth, propelled by the dollar's weakening amidst ongoing uncertainties surrounding US-China trade relations. President Donald Trump has indicated that he does not plan to engage in discussions with the Chinese President this week; however, he expressed openness to reducing tariffs on Chinese imports to foster trade. Last week, China hinted at the possibility of initiating trade talks but emphasized that the US must first lift all unilateral tariffs to show genuine intent. Market participants are also closely monitoring prospects for potential US trade agreements with India, Japan, and South Korea, which could affect overall market sentiment. Additionally, copper's upward trajectory is supported by a stronger-than-anticipated US jobs report for April, alleviating concerns over a trade-induced economic slowdown and reinforcing demand projections for industrial metals.