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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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Slimming confidence for Brussels summit weighs on copper futures

Jun 27, 2012 11:22 AM

Copper futures were edging down in value on Wednesday as confidence continued dropping about the European Union two-day summit in Brussels, according to Reuters.

Apprehension for leaders' abilities to control the sovereign debt scourge continued growing as the summit prepares to begin on Thursday, which will mark the EU's 20th set of meetings to control the debt crisis since it began in early 2010. Angela Merkel, chancellor of Germany, said she stands opposed to establishing common euro bonds.

"There have been negative headlines surrounding the EU summit with Merkel's comments. It is not really fundamentals that are driving commodity markets at the moment as the macro overlay is putting pressure on prices," analyst Robin Bhar with Societe Generale told the news source. "Demand (for base metals) is pretty subdued as we move into the holiday season, and I do expect prices to probe the downside. Copper could push below $7,000 a ton."

At 11:14 a.m. on Wednesday, copper futures climbed 0.83 percent, a 0.0275 cent lift to $3.348 per pound.

Bond yields in Spain and Italy, two nations toiling to stave off the debt scourge's damages, were rising on Wednesday, Bloomberg reports.

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