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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.

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AUD/USD and Commodities decline as Dollar rally resumes
Traders push back RBA rate hike bets until November WTI and Brent crude implied volatility falls to lowest since 2020 Turkey unloads significant portion of gold holdings The Australian dollar tumbled after the RBA kept rates on hold again and signaled they might be done tightening.  Given most economists expected a hike, aussie-dollar was ripe for a plunge.  US dollar strength also supported the decline after the Treasury increased their net borrowing estimate. Oil The oil price rally is re
01-08-2023 15:01 GMT by Edward Moya
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Oil and loonie flying high together again
Oil poised for best monthly performance since early 2022 Net-long positions in WTI  rise to highest levels in 3 months Goldman says global oil demand has surpassed peak set just before COVID-19 USD/CAD Canadian dollar Oil and the loonie are flying high again as global growth prospects improve and on optimism the Fed is done tightening.  The Canadian dollar was weakening last week on fears that the BOC's tightening cycle is starting to weigh on the economy.   That outlook might change if China
31-07-2023 13:27 GMT by Edward Moya
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Oil rally stalls as demand softens, Gold rises post Fed
EIA Report: stockpiles  dropped 600K vs -2.12M eyed Crude production falls to 12.2 million bpd (lower boundaries of this year's range) Gold struggles as Fed leaves door open for more hikes Oil Crude prices softened after the EIA crude oil inventory report stockpiles fell less-than-expected as surging gasoline prices weighed on demand.  Gas is almost over 10 cents a gallon according to AAA and that rising trend might continue going to the end of summer.  Crude exports also rose above the 4 milli
26-07-2023 15:29 GMT by Edward Moya
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FOMC day, look out for Fed Chair Powell’s view on inflationary expectations
Current slowdown in inflationary growth has led to lower odds of another Fed Funds rate hike after today’s FOMC. Inflationary expectations measured by US breakeven inflation rates have started to tick higher since the end of May, in line with the 19% rally seen in WTI crude oil futures. If rising inflationary expectations are left unchecked, it may spiral into the real economy with a potential upside reversal in the lagging CPI data in the coming months. The US Federal Reserve FOMC meeting will
26-07-2023 02:58 GMT by Kelvin Wong
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Canadian dollar struggles to rise alongside oil
USD/CAD little changed ahead of FOMC decision Canadian dollar was fourth-worst performer in the Group-of-10 currencies. Oil rallies on improved global outlook and Chinese stimulus Gold awaits the Fed decision Commodities and some commodity currencies caught a bid after China policymakers signaled more stimulus would soon help their struggling recovery, but that didn't help the Canadian dollar.  Canada's largest export has seen oil prices catch a bid over the past month, while the loonie has
25-07-2023 15:25 GMT by Edward Moya
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Gold Technical: Holding above 50-day moving average
Medium-term uptrend of Gold (XAU/USD) remains intact. Its recent slide of -1.7% from the 20 July 2023 high of US$1,987.53 has pull-backed close to its 50-day moving average. Short-term elements suggest a potential bullish reversal for Gold (XAU/USD) with key support at US$1,939. This is a follow-up analysis of our prior report, “Resilient gold is supported by geopolitical risk” published on 11 July 2023. Click here for a recap. Gold (XAU/USD) has staged the bullish breakout above US$1,940 and
25-07-2023 06:12 GMT by Kelvin Wong
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Oil reaches 3-month high, Gold and Bitcoin edge lower
Oil Crude prices are tentatively breaking out as expectations remain for the oil market to remain tight despite all global weakness that is emerging.  The rally in crude oil is impressive as it occurs as Europe is looking very weak right now, the US is slowing down, and China’s Politburo isn’t expected to unveil major stimulus this week. Oil is also getting a boost from Wall Street as optimism grows the end of the Fed’s rate hiking campaign appears it could be here.  With Europe lagging by a c
24-07-2023 14:29 GMT by Edward Moya
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Gold - Paring gains ahead of the Fed
Fed could be the next big catalyst as markets prepare for one more hike A break of $2,000 could be a bullish development Gold appears to be pausing for breath ahead of the Fed meeting on Wednesday. Economic data recently has given the yellow metal a big lift, with the price coming close to testing $2,000 at one stage last week.
24-07-2023 12:15 GMT by Craig Erlam
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Brent Crude - Oil testing the 200DMA for the first time since last summer
A new three-month high Can Brent break the 200-day SMA? Oil prices are trending higher again on Monday, building on the surge late last week and reaching their highest level in three months. There have been a number of factors that have contributed to the gains recently, starting with the Saudi extension to its million barrel cut alongside Russia's export reduction followed by data that could enable a soft landing in countries that are aggressively raising rates.
24-07-2023 12:11 GMT by Craig Erlam
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Week Ahead - Bracing for next week's earnings, rate decisions, and major economic data
US The Fed is expected to resume raising rates at the July 26th FOMC meeting.  Fed funds futures see a 96% chance that the central bank will deliver a quarter-point rate rise, bringing the target range to between 5.25% and 5.50%, almost a 22-year high. The Fed delivered 10 straight rate increases and then paused at the June FOMC meeting.  The Fed is going to raise rates on Wednesday and seems poised to be noncommittal with what they will do in September.  The economic data has been mixed (str
21-07-2023 14:00 GMT by Edward Moya
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Oil rises as OPEC+ likely to try to keep oil market tight; Gold lower on strong USD
Commodities are starting to post some diverging trends as US soft landing hopes improve.  Oil has benefited from a resilient US economy, but gold has struggled as a tight labor market suggests the Fed may need to keep interest rates higher for longer.  A recent Bloomberg survey noted that firmer growth prospects are expected through Q3, potentially rising 0.5%.  The outlook for Q4 is GDP to contract 0.4%. Oil Oil prices are rising on optimism that the outlooks for China and India should keep the
21-07-2023 12:40 GMT by Edward Moya
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WTI Oil Technical: Potential bullish reversal “Descending Wedge” in play
Major downtrend phase from the 7 March 2022 swing high has evolved into a potential bullish reversal “Descending Wedge” configuration. US$77.30 is the key intermediate resistance (200-day moving average & upper boundary of “Descending Wedge”). Key short-term support rests at US$72.20, also the 50-day moving average. Since its 7 Nov 2020 medium-term swing high of US$94.11 per barrel, the price actions of West Texas Oil (a proxy of WTI crude oil futures) have been oscillating within an 8-month bu
21-07-2023 03:49 GMT by Kelvin Wong
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Oil edges higher, strong dollar disrupts gold's ascent
US sanctions Russian oil service companies and First deputy energy minister Sorokin WTI Crude open interest plunges to lowest levels since January Gold tumbles after reaching a two-month high Oil Crude prices are drifting higher on what is a very slow news day for crude. ​ Yesterday's declining stockpile data and weak demand stats didn't help oil extend its recent rally.
20-07-2023 14:44 GMT by Edward Moya
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Brent Crude - Oil trading choppy but holding onto recent gains
Better inflation outlook helps to lift oil prices China stimulus could boost demand further 200/233-DMA a potentially big test of resistance above Oil prices have steadied after a volatile week following the breakout from its two-month range. The break came on the back of output curbs from Saudi Arabia and Russia, initially, but then better inflation data from the US, eurozone, and UK which could boost economic prospects. Since then, the price has been volatile but importantly held above previo
20-07-2023 12:25 GMT by Craig Erlam
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Gold - Eyeing another move above $2,000 as inflation outlook improves?
Progress on inflation driving gold's gains UK becomes the latest to make significant improvements $2,000 a major psychological level Gold broke higher again on Tuesday after briefly paring gains late last week and early this. Lower yields and a weaker dollar are continuing to boost its appeal on the back of some more promising inflation data and lower interest rate expectations. That inflation data has been both widespread, from the US to the eurozone and now the UK, and at both the headline a
19-07-2023 17:35 GMT by Craig Erlam
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Oil rally capped, Gold finds its pre-FOMC decision range, RFK Jr talks Bitcoin
EIA Report showed Cushing stockpiles declined most since October 2021 Fed rate cut bets for December 13th FOMC meeting rise to 24.0% Bitcoin bulls nervous a US ETF launch could trigger a similar Bitcoin futures collapse Oil Crude prices tentatively rose but gains were capped as Russian exports are expected to rise and as the EIA report posted disappointing demand figures. Oil was steadily rising over the past few weeks on expectations that Russia and the Saudis would keep this market tight.  Ru
19-07-2023 14:44 GMT by Edward Moya
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Brent Crude - Oil edging higher again after recent positive developments
Oil turns higher after brief pullback EIA reports small draw of 0.7 million 200DMA could provide next test of resistance Oil prices have been creeping higher throughout the European session after bouncing back a little on Tuesday. Output curbs from Saudi Arabia and Russia appeared to have got things moving but it may be the better inflation data that we're seeing that has enabled it to push on after two months of consolidation. We've seen some volatility around the inventory data from EIA today
19-07-2023 12:12 GMT by Craig Erlam
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