NY sugar ends at 4-week low, coffee and cocoa also drop

   Photo:  geograph.org.uk

NY sugar ends at 4-week low, coffee and cocoa also drop | Reuters
Raw sugar futures dropped more than 2 percent to close at a four-week low on Thursday on late fund sales as investors were disappointed by the lack of an announcement from the European Central Bank on measures to fight the euro zone debt crisis. Arabica coffee and U.S. cocoa futures also posted lower settlements.

US STOCKS-Futures higher after ECB; Draghi statement awaited

   Photo:  nopsa.hiit.fi

US STOCKS-Futures higher after ECB; Draghi statement awaited | Reuters
U.S. stock index futures were higher on Thursday after the European Central Bank held its main interest rate at record lows, with investors awaiting a statement from ECB President Mario Draghi for signs of further action.  The ECB kept the rate at 0.75, waiting to see whether inflation and the euro zone economy slow further before deciding on any fresh cut in borrowing costs.  After last week's pledge by Draghi to "do whatever it takes" to save the euro, expectations for strong action have been raised considerably, putting intense pressure on the ECB president before the 8:30 a.m. (1230 GMT) press conference.

Copper extends losses after Fed leaves policy on hold

Photo:  www.public-domain-image.com

Copper extends losses after Fed leaves policy on hold | Reuters

Copper extended losses in after-hours business on Wednesday, sinking to its lowest in a week, after the Federal Reserve refrained from delivering fresh monetary stimulus despite acknowledging a weakening U.S. economy.  Fed officials described the world's biggest economy as having "decelerated somewhat," a change of tone from its previous assessment in June that the economy had been "expanding moderately."  But the central bank disappointed investors by taking no new measures to stimulate growth.