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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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Economic unease in euro zone, China, U.S. impacts copper futures

May 18, 2012 03:42 PM

Copper futures were hovering on Friday ahead of the Group of Eight nation meeting scheduled for the weekend as preoccupations grew for the well-being of the euro zone as 16 Spanish banks were downgraded by Moody's Investors Service, according to Reuters.

Impacting the performance of the reddish metal also was economic data indicating China, the globe's top consumer of the reddish metal, is seeing a reduced pace of development and expansion. The Asian nation hosts the globe's second-largest economy and its most rapidly developing economic system.

"There is the combination of Europe and all that entails, and concerns about the extent of the slowdown in China weighing on prices," metals strategist Stephen Briggs with BNP Paribas told Reuters, noting the Asian nation is likely to demonstrate its resilience.

At 12:44 p.m. on Friday, copper futures fell 0.23 percent, a 0.008 cent loss to $3.471 per pound.

Bloomberg reports concerns are spreading about the U.S. economy, also the globe's largest system. Copper's myriad uses in construction, development and other industry make it sensitive to financial and economic developments.

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