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, Crude Oil Prices Soar on Rising Middle East Tensions, FOMC Next

Gold and oil prices have surged due to rising tensions in the Middle East. Gold with a trendline break as bulls eye $2480/oz, FOMC meeting next. Brent crude oil found support around the 78.00 handle and is currently trading at 80.82 a barrel, with potential for further upside due to geopolitical risks.

Jul 31, 2024 by Zain Vawda

WTI Oil: At the risk of a further drop to retest major range support of US$73.15-71.35/barrel

Citigroup Economic Surprise Indices across the different regions (except for Latin America) on average are suggesting lackluster economic growth. US crude oil inventories (excluding SPR) are showing signs of a build-up. Technical factors are suggesting further potential weakness for WTI crude oil below US$80.30 key medium-term resistance. Since its high of US$84.74 printed on 5 July 2024, the price actions of West Texas Oil CFD (a proxy of the WTI crude oil futures) have tumbled by 10% to print

Jul 30, 2024 by Kelvin Wong

Markets Weekly Outlook: Central Banks and US Earnings. Will the BoJ Hike Rates?

Global markets experienced a volatile week, influenced by a tech selloff, China growth concerns, and anticipation of central bank decisions and US earnings reports Despite the volatility and tech led selloff, US equity funds saw inflows. Central bank meetings, particularly the FOMC and BoJ, and US NFP data will be key drivers of market sentiment in the coming week. Read More: Oil Price Reversal Ahead? Chart Patterns Indicate Possible Bounce at Support Week in Review: Sentiment Overshadows

Jul 26, 2024 by Zain Vawda

Gold Technical: The recent sell-off may have reached a potential bullish reversal level at US$2,353

The recent weakness seen in Gold (XAU/USD) is likely to be driven by US politics as the “Gold premium” has moved in synch with the betting odds of Republican nominee Trump winning the US Presidential Election. The US Treasury market is likely to take a driver's seat now as the focus returns to the monetary policy guidance from the outcome of the US Fed FOMC meeting next Wednesday, 31 July.

Jul 26, 2024 by Kelvin Wong

Oil Price Reversal Ahead? Chart Patterns Indicate Possible Bounce at Support

Oil prices have faced challenges recently, but buying pressure prevented a drop below $80. Technical indicators suggest potential for an upward bounce, with key resistance levels to watch. Fundamental factors like Canadian wildfires, US stockpiles, and rate cut expectations support oil prices. Most Read: GBP/USD Dips to 1.2850 Amid Growing BoE Rate Cut Speculation Oil prices faced challenges yesterday until buying pressure during the US session prevented crude oil from dropping below the psycho

Jul 26, 2024 by Zain Vawda

Gold (XAU/USD) Continues Decline, DXY Lower After US GDP Beat

The decline in Gold prices is attributed to technical selling pressure, profit-taking, and a strong US GDP print. The bull run in Gold may not be over due to anticipated Central Bank demand, increased demand from India, and geopolitical factors. The US Dollar Index (DXY) has found support around 104.00 but is struggling to close back above the 200-day MA.

Jul 25, 2024 by Zain Vawda

USD/JPY Declines Sharply as BoJ Considers Rate Hike Next Week

The Japanese Yen is gaining against its G7 counterparts due to rumors that the Bank of Japan (BoJ) will reduce bond buying and potentially raise interest rates. Governor Ueda has emphasized wage growth as a key factor, and both average wages and average cash earnings YoY have shown a steady upward trend. Japan is set to establish a national minimum wage standard of 1,054 yen per hour on average, the largest increase ever. Most Read: Oil Price Update: Brent Holds Critical Support Amid US Inv

Jul 24, 2024 by Zain Vawda

Oil Price Update: Brent Holds Critical Support Amid US Inventory Decline

Oil prices have declined over the past four days, but Brent oil remains at a crucial support level. The Chinese government has cut rates to stimulate economic growth following disappointing data. Will this help keep oil demand strong in H2? US GDP, PMI and PCE data could play a role in Oil price moving ahead while the Geopolitical situation needs to be monitored as well.

Jul 24, 2024 by Zain Vawda

USD/CAD Eyes Breakout as Oil Price Slide Continues, BoC Meeting Next

USD/CAD is nearing a breakout after being range-bound since April, potentially driven by falling oil prices and a weakening Canadian Dollar. The Bank of Canada (BoC) is expected to cut rates this week due to rising unemployment, falling consumer spending, and slowing GDP per capita. However, the rate cut may already be priced in, limiting its impact on USD/CAD. Most Read: Weekly Market Outlook: US PCE, GDP, and Earnings Expected to Drive Volatility USD/CAD is back at the top end of the wedge pa

Jul 22, 2024 by Zain Vawda

Safe Havens Gain Favor Amid Geopolitical Tensions and US Election Uncertainty, Gold Above $2400/oz, DXY Slips

Increased geopolitical tensions in the Middle East and US election uncertainty have caused a rise in safe-haven demand, particularly for Gold. The US Dollar has weakened due to concerns about a potential Kamala Harris presidency and its implications on the economy. Market sentiment is expected to be driven by US election developments and geopolitical issues in the first half of the week.

Jul 22, 2024 by Zain Vawda

Weekly Market Outlook: US PCE, GDP, and Earnings Expected to Drive Volatility

This week, markets were influenced by trade war fears, US political developments, and a global cyber outage. In Asia, the Japanese yen weakened, and Chinese authorities remained silent on economic goals despite weak data. Next week, US PCE and GDP data, along with Euro Area and UK PMI data, and potential Chinese economic measures will be key drivers of market volatility. The Nasdaq 100's weekly chart shows a potential evening star candlestick pattern, hinting at further downside. Read More: JPY

Jul 19, 2024 by Zain Vawda

Oil to Snap 3-day Losing Streak on Declining US Stockpiles

Oil prices are rising due to a significant decrease in US oil inventories, exceeding expectations. The CCP's third plenum could impact oil prices depending on its policy decisions. Support and resistance levels are identified. Most Read: S&P 500, Nasdaq 100 Slide as US Threatens Stricter Restrictions on Chinese Trade Oil prices are on the offensive this afternoon following US inventories data. In its weekly survey released on Tuesday, the American Petroleum Institute reported that U.S.

Jul 17, 2024 by Zain Vawda

Gold (XAU/USD) Hits Record High of $2465/oz Despite Positive US Retail Sales Data

Gold prices reach a new record high of $2465/oz, driven by post-CPI and rate cut optimism. Despite a resurgent US Dollar, gold's upward momentum remains strong, briefly dipping before rallying to new highs. June's US retail sales figures and an upward revision of May's data had minimal impact on gold's rally and market expectations for Fed rate cuts.

Jul 16, 2024 by Zain Vawda

Oil Price Update - Oil Prices Hold Firm as Chinese Demand Concerns Rise

Oil prices remain stable despite a turbulent weekend and a strong US dollar. Chinese economic data, including disappointing GDP growth and declining refinery output, raises concerns about oil demand. The focus shifts from supply concerns in the US to demand worries in China. Technical analysis suggests potential for a triple bottom pattern in oil prices, with key support and resistance levels identified. Most Read: The Week Ahead – ECB Spotlight as Fed Rate Speculations Drive Market Shifts Oil

Jul 15, 2024 by Zain Vawda

The Week Ahead - ECB Spotlight as Fed Rate Speculations Drive Market Shifts

US inflation data caused a significant selloff in US mega-cap tech stocks and a shift towards riskier areas of the market. The ECB interest rate decision is expected to bring no change, but the bank lending survey may shed light on the impact of higher rates on the economy. In the UK, inflation data is due on Wednesday, and while headline CPI dipped below 2% in June, it is expected to rise again in the second half of the year.

Jul 12, 2024 by Zain Vawda

Silver Price Outlook: Will Strong Demand and Tight Supply Keep Prices Shining?

Silver prices have risen due to a supply and demand gap, with demand outstripping supply for the fifth consecutive year. Industrial demand, driven by green energy, AI, and EVs, now accounts for 64% of global silver demand. A potential slowdown in China's economy and prolonged high interest rates could dampen silver prices. Bullish Pennant pattern breakout hints at further upside. Will inflation data halt the move?

Jul 10, 2024 by Zain Vawda

Gold Price Outlook: Can Gold Prices Surpass $2400/oz?

Gold prices supported by rate cut expectations and central bank buying. Gold ETFs see positive flows, suggesting bullish momentum. Fed Chair Powell's testimony and may cause short-term volatility but no direction. MOST READ: Oil Price Update – Oil Prices Fall as Gaza Talks and Hurricane Beryl Take Center Stage Gold prices found support at $2350 per ounce yesterday after a selloff erased Friday's gains. On Friday, gold peaked at $2393 per ounce as the market assessed the impact of the US jobs re

Jul 09, 2024 by Zain Vawda

Gold Technical: A further drift down in the 10-year UST real yield supports a bullish narrative in Gold

Recent rebound in WTI crude has remained below US$90/barrel which in turn led to a softening of inflationary expectations via the breakeven rates. A further downward drift in the 10-year US breakeven rate may a further drop in the 10-year US Treasury real yield. Lower opportunity costs in hold Gold (XAU/USD) support the potential start of another medium-term bullish impulsive upmove sequence above US$2,285 key support.

Jul 09, 2024 by Kelvin Wong

Oil Price Update - Oil Prices Fall as Gaza Talks and Hurricane Beryl Take Center Stage

Geopolitical events and weather disruptions are currently the main drivers of oil price fluctuations. OPEC+ production cuts have contributed to tighter oil markets, supporting prices. Can it continue? Technical analysis suggests key support and resistance levels to watch for future price movements. MOST READ: The Week Ahead – Will US Inflation Data Derail Market Optimism? Oil prices have retreated sharply since printing a fresh high on Friday.

Jul 08, 2024 by Zain Vawda

The Week Ahead - Will US Inflation Data Derail Market Optimism?

Soft US economic data, including lower-than-expected job growth, has increased market expectations for a September rate cut. The week ahead features important data releases, including US inflation figures and Chinese inflation data. US Inflation holds the key to a September rate cut.

Jul 05, 2024 by Zain Vawda

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