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Saturday 11 June 2022 – 9:17 am
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Saturday 11 June 2022 – 9:17 am
Copper prices continued their decline; After economic data published yesterday, Friday, showed that the inflation rate in the United States continued to rise more than expected during last May, paving the way for the possibilities of the Federal Reserve to adopt more tight monetary policies with significant increases in interest rates in the coming months, it was reported. Bloomberg News Agency.
The May CPI rose 1% from the previous month, topping economists’ median expectations.
Investors are concerned that higher interest rates in the face of decades of high inflation could lead to a global slowdown in growth, undermining demand for the metals.
Copper prices, an economic indicator, have fallen since hitting a five-week high on Monday.