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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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Conjecture about intervention pushes up copper futures

Jul 03, 2012 01:43 PM

Speculation about central banks deploying economy-spurring measures helped push up copper futures well more than 2 percent in value on Tuesday, according to Reuters.

The industrial metal touched its highest price since late May amid financial markets' rallies. Also growing is the belief that the sovereign debt crisis, which has victimized numerous countries within the 17-nation euro bloc, might be grabbing ahold of other world economic powers.

"We've had some quite negative data out of the United States, and on the back of this we're seeing weakness in the dollar and expectations that the Fed will act sooner rather than later," analyst Dan Brebner with Deutsche Bank told the news source. "Also in China there's a growing sense that we may see further stimulus, with another reserve ratio cut, so I think those two things are supporting the base metals."

At 10:33 a.m. on Tuesday, copper futures climbed 2.12 percent, a 0.0735 cent lift to $3.5425 per pound.

The Wall Street Journal reports the industrial metal's Tuesday climb is partially attributable to policies for lending loosening in China, the globe's top consumer of copper.

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