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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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Cotton futures climb after ECB efforts to control debt crisis

Sep 07, 2012 03:09 PM

European Central bank efforts to control the sovereign debt crisis tearing through the euro zone pushed up cotton futures on Friday, according to Reuters.

The European Central Bank's intention to purchase sovereign debt of beleaguered countries in the 17-nation bloc also drove the Standard & Poor's 500 index to its top level in at least 48 months while prompting increases of 2 percent on the Nasdaq. The soft fiber's gains on Friday marked the first bullish trading session in three days, which also was linked to a U.S. Labor Department jobs report indicating August saw the quickest job creation in five months, according to Reuters.

"We have the outside markets today to thank for that," cotton analyst Sharon Johnson with Knight Futures told Reuters.

At 2:16 p.m. on Friday, cotton futures climbed 0.26 percent, a 0.002 cent increase to 76.19 cents per pound.

The Hindu Business Line reports the past 14 days have seen the top cotton regions of India endure increasingly fierce monsoons, which has pulled down cotton futures. Slowed-down demand and more sales have pinched the soft commodity, which has dropped about 5 percent during the past week.

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