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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 drop as concerns grow about global growth

Oct 29, 2012 07:57 AM

Preoccupations about the pace of global development pulled copper futures to their lowest value since early September on Monday, according to Reuters.

Despite stronger than anticipated third-quarter growth in the U.S., host of the globe's largest economic system, the reddish metal suffered from decreases to risk appetite. Trading and deal-making were projected to slow down on Monday in anticipation of Hurricane Sandy driving up the Eastern Seaboard. Some forecasters are projecting the storm system to be the largest to impact the U.S.

"It's the reality of a bad macro-economic backdrop that's weighing on sentiment, some of the latest signs of which come from corporate earnings. We think all base metals can fall over the next six months and we expect them to," analyst Ross Strachan with Capital Economics told the news source.

At 8:12 a.m. on Monday, copper futures fell 1.42 percent, a 0.0505 cent loss $3.4995 per pound.

The Wall Street Journal reports base metals were dropping in value in anticipation of the U.S. election being one-plus week away as well as the U.S. Labor Department preparing to release employment data later this week.

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