Copper Slumps From Record High Ahead of US Jobs Data as Fed Rate Bets Build
Updated
Updated · Bloomberg · Jun 5
Copper Slumps From Record High Ahead of US Jobs Data as Fed Rate Bets Build
3 articles · Updated · Bloomberg · Jun 5
Summary
Copper fell and other base metals swung lower before Friday’s US employment report, as traders cut risk across commodity markets.
The selloff followed a strong start to the week and came as investors weighed jobs data expected to show solid hiring, a result that could reinforce expectations for Federal Reserve rate increases over the next 12 months.
Middle East war concerns and a retreat in technology stocks added to the pressure, extending caution beyond metals into broader risk assets.
The pullback marks a reversal after copper logged its second-highest close on record earlier this week, underscoring how quickly macro and geopolitical risks are driving price swings.