The euro may have had a nightmarish showing last week, posting its lowest value in over a year when benchmarked against the U.S. dollar, but it’s now on the rebound.
Last month was the hottest month in the continental U.S. since the late 19th century, which book-ended the warmest 52-week period in the 48 states, according to the National Oceanic and Atmospheric Administration. Bloomberg reports the federal division noted the average temperature from August of last year to this past July was 56.1 degrees, 0.07… Read More.
The expiration of assorted policies in the world's largest economic system is likely to spell trouble ahead, U.S. Federal Reserve chief Benjamin S. Bernanke told a gaggle of lawmakers last week, according to Bloomberg. The Fed chief, during a lunch with Democratic senators, said the U.S. is hurtling toward a "fiscal cliff," Politico reports some… Read More.
The price of orange-juice futures sharply rose on Friday amid worries about decreasing supplies as the U.S. government looks into Brazil's use of a fungicide that the U.S. has not approved for human consumption, according to published reports. The commodity endured its largest drop in value since 2008 over a two-day period on Wednesday and… Read More.
For the fifth consecutive month, global food prices fell in November as indications demonstrate prices of commodities are driving even lower, according to an arm of the United Nations as cited by Bloomberg. From October to November, an index of 55 foods dropped 0.5 percent to 215, according to The Food and Agriculture Organization. While… Read More.
The leader of Greece made an understandable decision by calling for a citizens' referendum to decide whether the nation will accept a bailout, Canada's top banker said during federal testimony on Tuesday. Mark Carney, governor of the Central Bank of Canada, told the finance committee of the House of Commons that Greek Prime Minister George… Read More.
The severe drought in Texas has prompted financial losses of more than $5 billion to the agriculture sector, according to a division of Texas A&M University. According to Bloomberg, the Texas AgriLife Extension Service penned a report stating losses from the worst drought in one century are $5.2 billion and climbing. Should the lack of… Read More.
Worries about the U.S. government enhancing fruit production forecasts pushed down orange juice futures on Wednesday, Bloomberg reports. The Agriculture Department stated Florida might produce 4.7 percent more boxes of oranges as compared to one year ago as the harvest is set to close at the end of this month. The Sunshine State is second… Read More.
Wednesday saw the grand opening of an automated trading services outfit in China, according to a press release. The Hong Kong Mercantile Exchange provides an electronic platform for commodity trading. Eighteen members helped kick off the exchange, which includes the globe’s largest financial institutions and trading firms. Renowned brokerages in Hong Kong also became involved…. Read More.
Speculation about the end of the U.S. central bank's bond-buying program and Chinese credit tightening put the kibosh on commodities' four-day rally Tuesday morning, Bloomberg reports. Silver futures slipped as much as 5.4 percent while copper futures dropped 2.5 percent as the Federal Reserve prepares to kick off two days of meetings. The central bank is… Read More.