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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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Gold - Will the Fed hint at a March cut or just leave the door slightly ajar?
Fed statement and press conference key Will they hint at a rate cut in March? Gold hovering between $2,000 and $2,500 It's been a relatively slow start to trading on Wednesday which isn't surprising considering what's to come later in the day. On another day, earnings from Alphabet and Microsoft may have dictated sentiment in the broader markets but as it is, investors are more focused on events in Washington, so tech aside markets are relatively flat.
31-01-2024 09:53 GMT by Craig Erlam
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Market Insights Podcast - FOMC, BOE, and US NFP to stand out in this busy week
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this pivotal week's key economic data and events which may trigger higher volatile movements in the global markets due to the anticipation of market participants' dovish expectations on the forward guidance from the Fed and Bank of England due on Wednesday (31 January), and Thursday (1 February). Also, keep a lookout for the potential negative ramifications of China Evergrande Group's liquidation order by a Hong Kong court, a ma
29-01-2024 23:00 GMT by Kelvin Wong
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Gold: Pivotal week after being sandwiched by opposing factors
Higher US 10-year Treasury real yield and rising geopolitical risk premium have created a floor and cap for Gold (XAU/USD) at US$2,000 and US$2,040 respectively. Historical volatility of Gold (XAU/USD) has slipped to a 4-month low, increasing the odds of an impending volatility breakout scenario. The direction of the volatility breakout is likely to be reinforced by this Wednesday’s FOMC monetary policy guidance. Positive momentum has started to emerge ahead of FOMC.
29-01-2024 01:02 GMT by Kelvin Wong
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WTI Oil Technical: Approaching a key medium-term resistance, at risk of a mean reversion decline
WTI crude oil has started to evolve into a short-term uptrend phase reinforced by the recent liquidity infusion by China's central bank, PBoC upcoming 50 bps cut on the RRR. The current 5-day rally of WTI crude oil has reached a key medium-term resistance zone of US$79.00/79.40 with a short-term overbought condition. At the risk of a minor mean reversion decline with intermediate supports at US$75.30 and US$74.80. This is a follow-up analysis of our prior report, “WTI Oil Technical: Sideways wi
26-01-2024 02:03 GMT by Kelvin Wong
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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.
16-01-2024 11:41 GMT by Craig Erlam
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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:
16-01-2024 01:23 GMT by Kelvin Wong
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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).
14-01-2024 23:55 GMT by Kelvin Wong
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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.
12-01-2024 08:12 GMT by Moheb Hanna
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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.
09-01-2024 01:03 GMT by Moheb Hanna
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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
18-12-2023 00:39 GMT by Kelvin Wong
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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
15-12-2023 01:08 GMT by Kelvin Wong
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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
10-12-2023 23:37 GMT by Kelvin Wong
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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
08-12-2023 16:48 GMT by Craig Erlam
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