Globally, copper prices fell to almost one-month lows on Wednesday, halting their biggest rally in years. The three-month red metal on the London Metal Exchange (LME) was trading at its lowest level since May 9, at US$9,865 per ton.
The dollar exchange rate began rising this Wednesday, June 5, 2024 and was around S/3.7417, according to preliminary data from the Bloomberg international currency exchange portal.
The day before, the greenback had started its career at S/3.7310 and then progressed to the official closing of S/3.7480 that marked the board of the Central Reserve Bank (BCRP).
At the local level, it is expected that this week the Congress of the Republic will approve the new project for a reform of the pension system, although there is still a strong component of criticism that could frustrate this second and final vote.
Internationally, China’s Services Purchasing Managers’ Index (PMI) jumped to 54.0 in May from 52.5 in April, according to the latest data released by Caixin on Wednesday. This is the best result obtained by the indicator in ten months.
In addition, the value of Latin American goods exports expanded 1.3% year-on-year during the first quarter of 2024, according to a report published today by the Inter-American Development Bank (IDB).
Finally, copper prices fell to almost one-month lows on Wednesday, halting their biggest rally in years. The three-month red metal on the London Metal Exchange (LME) was trading at its lowest level since May 9, at US$9,865 per tonne, below the key technical level of US$10,000.
Source: Larepublica
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