Copper Rises on US Confidence, European Hopes
Expectations of continued easy monetary policy in the United States, and hopes for the European Central Bank to step in to prop up the sluggish economy, are bolstering copper demand worldwide.
Articles Tagged "central banks"
Copper's wild ride
By Leia Michele Toovey- Exclusive to Copper Investing News It has been a volatile week for copper prices. On Wednesday, copper tumbled to its lowest price since March 2006 over concern of a global recession. Three-month copper on the London Metal Exchange (LME) closed at US$5,240 per tonne. Later on Wednesday, the U.S. Federal Reserve, European [...]
US Copper Futures Climb
Investors buying low jumped US copper futures by 3%. Copper was also supported by a weakening US dollar and the rise of the euro. Copper for December delivery HGZ8 was trading up 3.80 cents, or 1.6 percent, at $2.3930 a lb by 10:29 a.m. EDT (1429 GMT) on the New York Mercantile Exchange’s COMEX division. [...]
Copper Narrows Losses
WIth central banks cutting interest rates globally copper has narrowed its losses after having fallen more than seven percent with financial crisis concerns. The U.S. Federal Open Market Committee, the policy-setting arm of the U.S. Federal Reserve, cut benchmark lending rates by half a percentage point to 1.5 percent in an action coordinated with other central banks. [...]
Early US Copper Climbs in Rebound
US copper futures rose from a 9-month low to trading at close to $3.00 per pound. The move was supported by global central banks strengthening world stocks with an influx of money into money markets. Six of the world’s top central banks announced a series of measures to pump more than $180 billion in extra [...]
