The greenback surged while corn, wheat and soybean futures fell on Tuesday, raising speculation that the risk trade may be unwinding to some degree. All three commodities have posted strong performances this year, largely on the back of supply worries from around the globe. The worst damage was done in the Black Sea region of… Read more.
The price of copper rose to the highest level in 27 months on Monday, as commodity brokers speculated that both quantitative easing from the Federal Reserve and falling inventories of the red metal will make it pricier. Interestingly, the dollar climbed against a basket of currencies today, beating the Canadian dollar, Brazilian real, Japanese yen,… Read more.
Commodity producers took center stage on Wednesday as BHP Billiton, the world’s largest mining company, made a $40 billion hostile takeover offer for Potash, the world’s biggest producer of fertilizer. The deal has roiled the markets, boosting Potash’s share price 30 percent in just two days. BHP is offering $130 per share in cash for… Read more.
CME Group and Dow Jones Indexes announced Tuesday the launch of a new index called the Dow Jones CME FX$INDEX, which they say will give futures brokers and traders a more efficient way to trade global currencies against the U.S. dollar. The index represents the value of the dollar as compared to a basket of… Read more.