Central bank chief Ben Bernanke did not detail additional plans to enhance growth within the globe's top economy during a Thursday speech in Minneapolis though he did indicate options are readily available, perhaps laying a foundation for actions to be decided after the Fed's meetings on September 20 and 21.
"Obama's plan is just not convincing enough," strategist Matthew Zeman with Kingsview Financial told Bloomberg regarding President Barack Obama's speech to both houses of Congress and the nation on Thursday evening. "Bernanke also disappointed investors. A lot of risk assets are lower. We will have more downside in the copper market."
Copper futures closed on Friday down 3.4 percent, a 14.1 cent slide to $4.0025 per pound.
The industrial metal's life and times is sensitive to economic movement since demand for the reddish metal tends to rise or fall depending whether the economy is strong or weak.
The Wall Street Journal reports global markets are prone to reverberations as a result of Greece brushing close to a default as the Aegean nation is awaiting emergency aid from the International Monetary Fund and the European Union.
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