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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Chinese manufacturing increases during April pull down copper futures

May 01, 2012 01:09 PM

The increased pace of manufacturing last month in the nation hosting the globe's most rapidly developing economic system pulled down copper futures, according to Bloomberg.

The reddish metal endured a second consecutive day of losses after the Purchasing Managers' Index in China gained to 53.3 in April after registering at 53.1 during the month prior. The likelihood of the Asian nation intervening with monetary stimulus to prompt growth in what also is the second-largest global economy slimmed.

"Improvement in China's manufacturing may give an excuse for the nation not to issue additional stimulus immediately, as the Chinese government is still struggling with inflationary pressure," analyst Ken Kajisa with broker ACE Koeki in Tokyo told the news source.

At 1:05 p.m. on Tuesday, copper futures were up 0.33 percent, a 1.25 cent lift to $3.842 per pound.

Reuters reports China's PMI of 53.3 for last month marks the top level of the metric for the Asian nation in 13 months. That high indicates China might be bouncing back from economic slumps registered during the first quarter of the year.

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