Commodities: All News & Analysis

Explore our extensive commodities news, which unveils critical insights into price movements, trends, and expert forecasts in the raw materials market. By examining price actions and understanding the factors influencing commodity values, understand current market dynamics. This page is designed to boost your research on historical trends, identify seasonal patterns, and sharpen your trading strategies across sectors such as energy, metals, and agriculture. Equip yourself with the knowledge necessary to enhance your understanding of the commodities landscape and elevate your trading decisions.

Gold - Struggling near previous record highs and showing signs of weakness

Bearish correction underway? A lot of rate cuts are now priced in Fib bounce may be a bearish signal Gold is trading a little lower on Tuesday after bouncing higher once again in recent sessions. The yellow metal remains buoyed by very aggressive rate-cutting expectations, particularly in the US, but at the same time, it is struggling to generate fresh momentum around the prior record highs, near $2,070.

Jan 16, 2024 by Craig Erlam

WTI Oil Technical: Sideways within a potential minor bottoming configuration

Ongoing hostilities in the Middle East region and the Red Sea shipping route have put a potential “floor” in oil prices due to the increasing risk of supply disruptions. The demand side has remained weak as China’s top policymakers have signalled a less forceful approach in enacting stimulus measures after PBoC left its 1-year MLF rate unchanged at 2.50%. Sideways for now between US$76.05/78.40 and US$69.20 for WTI crude oil. This is a follow-up analysis of our prior report, “WTI Oil Technical:

Jan 16, 2024 by Kelvin Wong

Gold: Potential bullish breakout from 6-week range

Positive price actions in Gold (XAU/USD) as it reintegrated back above its 20-day moving average. A continuation of the medium-term bearish trend on the US 10-year Treasury real yield below 1.82% key resistance may add further bullish impetus for Gold. A rise in geopolitical risk premium may also support a firmer Gold. Watch the US$2,015 key short-term support on Gold (XAU/USD).

Jan 14, 2024 by Kelvin Wong

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Market Insights Podcast - US inflation boost, UK GDP, oil spike, bitcoin ETF

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss today's US inflation data, UK GDP figures and the possibility of a recession, the recent moves in oil and the launch of the first bitcoin ETFs.

Jan 12, 2024 by Craig Erlam

USD/CAD - Technical Analysis Forecast

Canada CPI and BOC Overnight Rate schedule Technical Analysis for Monthly, Daily, and 4-hour charts The Canadian Dollar opened 2024 with a decline against the US Dollar, the Forex pair USD/CAD rose from 1.3180 in late December 2023 to its current average price of 1.3380 and has been trading near this level for a few days. The pair held steady throughout the US CPI data release as well as the recent upside move in oil prices.

Jan 12, 2024 by Moheb Hanna

US Crude Oil - Price Action Technical Analysis

Talking Points US Crude Oil falls after Saudi Arabia cuts prices Technical Analysis Weekly Chart Technical Analysis 8-Hour Chart Crude Oil prices ended 2023 with 3 months of consecutive declines, prices fell from a peak of $95 in September 2023 down to $70.75 today, a drop of almost 25% in price, shrugging off all the extra premiums resulting from the current political risks, and taking the markets back closer to its standard supply and demand dynamics.

Jan 09, 2024 by Moheb Hanna

Market Insights Podcast - Record highs, US data, OPEC unity, year ahead

OANDA Senior Market Analyst Craig Erlam joined Jonny Hart and Trader Nick to discuss the recent moves in the markets, US economic data, Angola's decision to leave OPEC, and what it means for oil, and preview the year to come in 2024.

Dec 21, 2023 by Craig Erlam

Brent Crude - Oil recovers as markets price in more rate cuts

Better economic prospects buoy oil Downside risks remain as central bankers push back Brent testing key resistance Oil prices are recovering a little but remain broadly under pressure after falling 20% over two months from the middle of October.

Dec 18, 2023 by Craig Erlam

Gold: Deterioration in the US 10-year Treasury yield may support a bullish tone

An increase in dovish expectations on a rapid pace of Fed funds rate cuts projected for 2024 indicates a potential impending recession. An uptick in recession risk may see a further deterioration in the US 10-year Treasury real yield which reduces the opportunity costs for holding Spot Gold (XAU/USD). Spot Gold (XAU/USD) has managed to trade back above its 20-day moving average. This is a follow-up analysis of our prior report, “Gold Technical: Extension of corrective decline ahead of FOMC” pub

Dec 18, 2023 by Kelvin Wong

WTI Oil Technical: Medium-term downside momentum has eased

Two key positive technical analysis elements have emerged at the US$67.55/66.35 major support zone. The current medium-term downtrend phase from September 2023 may have reached a terminal point for a potential bullish reversal. China’s rosy retail sales and industrial production for November managed to offset downbeat housing data that provided a short-term tailwind for oil prices. The medium-term downtrend phase of West Texas Oil (a proxy of WTI crude oil futures) in place since the 28 Septemb

Dec 15, 2023 by Kelvin Wong

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Market Insights Podcast - Has the Fed just delivered a Santa rally?

OANDA Senior Market Analyst Craig Erlam joins Trader Nick to react to the Federal Reserve interest rate decision and forecasts, and the significant impact they had on financial markets. They also preview the European Central Bank and Bank of England announcements on Thursday.

Dec 14, 2023 by Craig Erlam

Gold Technical: Extension of corrective decline ahead of FOMC

Lofty dovish expectations of 4 Fed funds rate cut in 2024 are at risk of being dialed back. Short-term bullish momentum has resurfaced in the US 10-year Treasury real yield. Spot Gold (XAU/USD) may continue its short-term corrective decline sequence. Watch the key short-term resistance at US$2,040 on Spot Gold (XAU/USD). This is a follow-up analysis of our prior report, “Gold Technical: Medium-term uptrend remains intact but risk of minor pull-back” published on 4 December 2023. Click here for

Dec 10, 2023 by Kelvin Wong

Gold - Testing $2,000 after a surprisingly strong jobs report

NFP in November 199,000 (184,000 expected, 150,000 in October) Average hourly earnings in November 0.4% (m/m) (0.3% expected, 0.2% in October) Gold testing $2,000 support There's been a lot of talk this week about whether investors have become too optimistic about interest rate cuts next year and today's jobs report may have brought some crashing back down to earth. Don't get me wrong, it's not a terrible report by any stretch of the imagination. But it may well convince the Fed that it must pr

Dec 08, 2023 by Craig Erlam

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Market Insights Podcast - A stronger US jobs report ahead of the Fed

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the US jobs report and what it means ahead of the Federal Reserve meeting next week.

Dec 08, 2023 by Craig Erlam

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Hedging the Markets - Gold hits record highs ahead of NFP (video)

OANDA Senior Market Analyst Craig Erlam discusses the moves in gold in a week in which it hit a new record high and previews Friday's US jobs report.

Dec 07, 2023 by Craig Erlam

What's Next for Gold Price - XAU/USD Technical Analysis

Talking Points: Why did gold prices decline sharply? Daily Chart Analysis 4-Hour Chart Analysis What's next for Gold Prices? Why did gold prices decline sharply? Gold Price fell significantly last week after reaching an all-time high of $2150/Oz, the price fell to $2020/Oz within a day which left many traders stunned and unable to comprehend what has happened, and the more difficult question remains unanswered, what's next for Gold Prices? Over the past few weeks/months, inflation has been

Dec 07, 2023 by Moheb Hanna

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Market Insights Podcast - US ADP softer, Bank of Canada holds rates

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the US economic data, the Bank of Canada interest rate decision, and another fall in oil.

Dec 07, 2023 by Craig Erlam

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Podcast - Gold flash rally to record high, US non-farm payrolls and RBA looms ahead

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data releases, events, and gold's flash rally on Monday toward a new record high. The short to medium-term dynamics at play for gold given that market expectations have increasingly skewed toward a Fed pivot.

Dec 04, 2023 by Kelvin Wong

Gold Technical: Medium-term uptrend remains intact but risk of minor pull-back

Today’s early Asian session's swift rally to a fresh all-time high is likely to be driven by a thin liquidity trading environment rather than the Israel-Hamas geopolitical war risk premium. Spot Gold’s portfolio hedging role may gain traction as global recession risk resurfaces. Medium-term uptrend phase remains intact but may shape a minor pull-back below US$2,152 key short-term pivotal resistance with immediate supports at US$2,032/2,018. This is a follow-up analysis of our prior report, “Gol

Dec 04, 2023 by Kelvin Wong

Brent Crude - Oil volatile near lows after OPEC+ "deal"

OPEC+ unofficially agree to 2.2 million barrel per day cut Full compliance with cuts already looks unlikely Brent continues to consolidate near recent lows Oil prices remain quite volatile but more importantly, not too far from their recent lows after traders judged yesterday's announcement from OPEC+ with some skepticism.

Dec 01, 2023 by Craig Erlam

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