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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 spread for Greece

May 15, 2012 04:07 PM

Copper futures dropped to their lowest price in about 16 weeks on Tuesday, pulled down by concerns about Greece's present debacle with inconclusive elections and the nation's questionable future as a member of the euro zone, according to Reuters.

The industrial metal's performance on Tuesday marks its third consecutive trading session of losses amid concerns that the situation in Greece will prove to be harmful to the world economy. The reddish metal is sensitive to global economic and financial situations due to its myriad uses in manufacturing, construction and other industries.

"It's an erosive process in the existing 'no-risk' atmosphere," said Bill O'Neill, partner of LOGIC Advisors in Upper Saddle River, New Jersey. "Until we get out of this gloom, commodities like the industrial metals and oil are not going to have any sponsorship."

At 3:26 p.m. on Tuesday, copper futures fell 1.62 percent, a 5.75 cent loss to $3.4965 per pound.

Dow Jones Newswires reports the industrial metal is set to notch its eighth drop in the past 10 trading sessions and the outlook for the reddish metal also is not very bright.

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