There are shades of the 1930 Smoot-Hawley Tariff in today's debate over the global "currency war," as Brazilian finance minister Guido Mantega referred to the current state of affairs. The tariff, a protectionist measure that levied taxes on foreign imports, is often credited with setting off a round of retaliatory measures and exacerbating the impact of… Read more.
U.S. stock index futures retreated and the dollar and yen gained, as investors ran for cover in the wake of the ongoing foreclosure drama that's roiling the U.S. The problem is, at best, sloppy paperwork and corner-cutting by major banks in hundreds of thousands of foreclosures. At worst, it represents a catastrophic breach of trust… 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.
Crude oil futures jumped above the $82-per-barrel mark as commodity futures brokers and traders priced in a continuing strike at a French port, reports the Wall Street Journal. French union workers have shut the oil terminals at Fos-Lavera, the world's third-largest oil port. That strike is leading to shutdowns at major refineries in southern France,… Read more.
Coffee trees need rain to flower and flourish, as the buds become coffee beans before the harvest. Every growing season, farmers hope and pray that rains arrive with the right force and timing to help their plantations yield a good crop. Coffee growers in the central Vietnamese highlands are receiving abundant rainfall, which is helping… Read more.
If it weren't so lucrative for gold futures traders and brokers, it'd be almost boring: Gold set another record today, rising to a high of $1,366 per troy ounce before retrenching slightly to $1,342.60 per troy ounce. Silver performed similarly, as December delivery contracts climbed to a high of $23.53 per troy ounce before slipping… Read more.
Stock index futures around the world surged on Tuesday morning, driven by renewed prospects for global growth and strong monetary stimulus from the Bank of Japan, which pledged to maintain its benchmark interest rate near zero. The Japanese central bank will also create a fund to buy 5 trillion yen ($60 billion) worth of government… Read more.
As volatility and uncertainty continue to eat at commodity futures traders and brokers' confidence, one asset class seems to draw interest week after week. Gold has been glittering since the beginning of the year, climbing nearly 20 percent while stock indexes flatline. As equities faltered in Monday's trading, December gold futures rose 90 cents to… Read more.
Of all the precious metals, Gold is the most popular as an investment and to trade. The value of gold is one of the most widely debated topics in the commodity and futures markets. Before you trade or invest in gold, there are a few things you should consider and recognize concerning the value of gold.
CME Group and Dow Jones Indexes announced Tuesday the launch of a new index called the Dow Jones CME FX$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.