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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' losses curbed by hopes for ECB action to confront debt scourge

Aug 24, 2012 04:18 PM

Losses that copper futures endured on Friday were tempered by hopes about policy makers with the European Central Bank advancing in their struggle against the sovereign debt scourge, Reuters reports.

Losses that the reddish metal endured early in the trading session tracked slippage of the embattled shared currency of the European Union. But the central bank is reportedly exploring the possibility of implementing a new bond-purchasing program to establish yield band targets as Spain and Italy struggle to blunt threats posed by the debt scourge.

"I think that gave us a little bit of a lift ... some ideas about Europe being a little bit better," commodity strategist Sterling Smith with the Institutional Client Group of Citibank in Chicago told Reuters.

At 3:12 p.m. on Friday, copper futures dropped 0.3 percent, a 0.0105 cent loss to $3.488 per pound.

The reddish metal might soon find itself in increased demand due to conjecture indicating the globe's two largest authorities are poised to do more to encourage development and growth, according to Bloomberg. Copper is a vital component of construction, manufacturing and other industry.

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