Futures Market News
Copper futures drop as demand comes in question
Aug 28, 2012 01:51 PM
Investors were not prompted to act aggressively by the economic data that was released on Tuesday but the central bankers meeting scheduled for later this week in Jackson Hole, Wyoming, is continuing to grow in stature and prominence. One analyst expressed doubt about a monetary easing program by the central bank of the U.S.
"Investors are likely to stay on the sidelines ahead of the meeting in Jackson Hole," analyst Andrey Kryuchenkov witih VTB told the news source. "[Chairman of the U.S. Federal Reserve Ben] Bernanke will probably reiterate that the Fed will keep interest rates low until 2014 and remain accommodative, but I don't think we can expect more quantitative easing, so markets could be disappointed."
At 1:31 p.m. on Tuesday, copper futures fell 0.43 percent, a 0.015 cent loss to $3.4675 per pound.
The Wall Street Journal reports Tuesday's losses were attributable to preoccupations about demand for the industrial metal.
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