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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 advance after July jobs gained in U.S.

Aug 03, 2012 02:45 PM

Economic data indicating employers in the U.S. created the most jobs last month in the past five boosted copper futures on Friday, according to Reuters.

But advances for the industrial metal were tempered by concerns about the sovereign debt crisis' damaging tendencies in the euro zone, particularly its ability to slash demand for the reddish metal. Copper is sensitive to worldwide economic and financial developments due to its widespread use in manufacturing, construction and other industry.

"Although the numbers are decent, they're not so amazing that the Fed are going to turn around and say the economy is fine. It will take a long and sustained period of improving data for the Fed to say that," macro strategist Guy Wolf with Marex Spectron told the news source. "If we are moving into an environment where there is no more bad news, copper could get out of this range and move back towards $8,000. If people start selling U.S. Treasuries, then that money will be seeking a home in places like base metals."

At 2:43 p.m. on Friday, copper futures gained 2.26 percent, a 0.0745 lift to $3.365 per pound.

The Wall Street Journal reports the reddish metal's advances on Friday touched 2 percent.

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