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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 benefit from possible ECB efforts

Aug 07, 2012 11:14 AM

The likelihood of the European Union moving in to boost the softening economy helped drive copper futures to their highest price in one week on Tuesday, according to Reuters.

Also benefiting the reddish metal were losses to the U.S. dollar against the common currency of the European Union as the European Central Bank was under scrutiny to confront economic and financial challenges. But those gains were tempered by reduced demand by China, the globe's top consumer of the industrial metal.

"We are sitting here and waiting for the eurozone to deliver something," analyst Andrey Kryuchenkov with VTB Capital told the news source. "Markets are up on speculation that the ECB will make a move soon but copper has been range-bound since the June sell-off and it is unlikely to move much until you see the Chinese depleting their domestic warehouses. Chinese demand is still anaemic at the moment."

At 10:12 a.m. on Tuesday, copper futures gained 1.45 percent, a 0.049 cent lift to $3.438 per pound.

Bloomberg reports China, also host of the globe's second largest economic system behind that of the U.S., was preparing to release economic data about factory production and inflation.

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