Breaking News

Copper drops to one-week low as dollar strengthens

News Date: 22/8/2016 05:11:44
 
Copper and other commodities opened the week sharply lower as the dollar gained steam against main currencies, ahead of the Fed Chair Janet Yellen's speech in Friday in Jakson Hill, at which she might signal a rate hike soon.

Copper futures tumbled 1.15% to $2.142 a pound, after hitting a one-week trough at $2.135, while gold futures slid 0.60% to trade at $1,338 an ounce. Silver slumped 1.81% to hover around $18.96 an ounce.

The dollar advanced 0.21% against a basket of six major peers to 94.69, while gaining 0.50% on the yen to trade at 100.70, after dropping below 100 last week.

Crude prices also slumped today alongside other commodities, with Brent crude futures down 82 cents, or 1.63% to $50.05 a barrel, while U.S. crude futures plummeted 74 cents, or 1.51% to hover around $48.36 a barrel.

There's not much data today from around the world, with Canada's wholesale sales expected to have risen 0.5% m/m in June, slowing down sharply from May's 1.8% growth, which could weigh on the loonie.

Latest news

Bitcoin, the largest cryptocurrency by market capitalization, managed to exceed the $20,000 level, rising by more than 5%, to $20,286 in particular. Followed by Ether, the second largest cryptocurren
09-2022 27 00:49:52

The dollar index rise against six major currencies, including the British pound and the euro, rose to its highest level in 20 years, supported by the decline of the British pound. The euro recorded
09-2022 26 02:49:04

Crude oil futures rose during the Asian session today, Thursday, this rise came after a decline : after the US central bank raised interest rates to control inflation, which directly affected the dem
09-2022 22 02:20:30

Yesterday, Wall Street closed lower , following the US central bank’s meeting, which is expected to raise interest rates significantly. According to the data, the Standard & Poor's 500
09-2022 21 01:33:42

Today gold futures and crude oil futures rose during the Asian session. As the gold futures contract was traded in December at $1,685.30 an ounce, its price increased by 0.42%, after it had previous
09-2022 20 02:56:35

More News

Logs

Advertisements