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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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Copper futures, Chilean peso rise as Chinese demand metal

Sep 25, 2012 02:21 PM

Both copper futures and the Chilean peso increased in value on Tuesday, according to published reports.

As Chile's top export, the reddish metal helped the peso climb from its lowest price since September 7, Reuters reports. China, the globe's largest consumer of the reddish metal, is increasingly demanding it, which also enhanced the base metal's price, The Wall Street Journal reports. China accounts for about 40 percent of the globe's consumption of the reddish metal.

The central bank of China boosted liquidity Tuesday with a record injection of 290 billion yuan as part of an effort to alleviate a liquidity pinch.

"The move is intended to address an expected liquidity squeeze ahead of the next week's holiday," states a report penned by analyst Marc Ground with Standard Bank, according to The Wall Street Journal. "Consequently, we feel that the boost to commodity prices should prove temporary, as this is not a measure of outright monetary stimulus motivated by the apparent weakness in the economy."

At 2:32 p.m. on Tuesday, copper futures increased 0.47 percent, a 0.0175 cent lift to $3.749 per pound.

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