British businesses continued to cut jobs for the third consecutive month, facing pressure from rising taxes and the impact of US trade policies. According to the Office for National Statistics, the number of payrolled employees declined by 33,000 in April.
The gauge of activity of Chinese copper market reached its maximum since the end of 2023. It happened due to the increasing willingness of buyers to secure future supply.
Mercuria executives predict that copper stocks in China could drop to zero in just a few months. The main reason for this is high demand for the red metal in the US, where buyers are eager to purchase it before import tariffs are introduced.
According to estimates of the International Copper Study Group (ICSG), presented in a new forecast of the organization, the global copper production in 2025 will increase by 2.3% to 23.5 million tons.
The Canadian dollar (CAD) increased against the US dollar after the election of Mark Carney as the country’s new Prime-Minister on Monday, according to Bloomberg.
The Confederation of British Industry (CBI) reported that its monthly retail sales index remained negative in April at -8, though it hit the highest level since October 2024. However, market sentiment is still pessimistic, according to Reuters.
Japan's Vice Finance Minister for International Affairs Atsushi Mimura refuted a Yomiuri newspaper report alleging that US Treasury Secretary Scott Bessent advocated for dollar weakness and a stronger yen in recent bilateral discussions.
Ripple is actively strengthening its market position by combining traditional finance with blockchain technology.
The UK is likely to see slower economic growth in 2025–2026, with GDP for this year and next revised to 0.8% and 0.9%, down from previous estimates of 1% and 1.6%. Protectionist measures taken by the US will be the key reason for these changes, the EY Item Club reported.
Megan Greene from the Bank of England noted the impact of the dollar's exchange rate on British monetary policy. In her opinion, a weaker dollar has a deflationary effect on the UK economy, helping to accelerate rate cuts.
Preliminary data from Statistics Canada showed an increase in retail sales by 0.7% in March, after a decline of 0.4% in February. According to experts surveyed by Bloomberg, this growth was driven by consumers seeking to outpace possible price increases caused by escalating trade tensions.
