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.

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

15-07-2024 06:49 GMT 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.

12-07-2024 13:13 GMT 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?

10-07-2024 11:20 GMT 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

09-07-2024 11:40 GMT 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.

09-07-2024 05:44 GMT 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.

08-07-2024 08:07 GMT 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.

05-07-2024 14:23 GMT by Zain Vawda

Brent Crude - Oil runs into resistance as EIA inventories fall

Brent Crude oil prices rose on Wednesday due to a larger-than-expected draw in US crude inventories. The market anticipates further inventory reduction, leading to potential support for prices in Q4. Technical analysis suggests bullish continuation, with a key resistance level at 87.90 and potential for a move towards 90.00 if this level is breached.

04-07-2024 05:18 GMT by Zain Vawda

USD/CAD stalls after Canadian PMI data and Fed Chair Powell's remarks. Where to next?

USD/CAD is rangebound, frustrating traders, thanks to a host of factors from rate differentials to rising oil prices. Canadian PMI data has been softer than expected, with decreased output, new orders, and employment. Stronger oil prices have kept the Canadian dollar supported of late.

02-07-2024 13:05 GMT by Zain Vawda

Brent Crude - Oil eyes range breakout as $90 a barrel in focus

Brent Crude oil prices are rising despite a slight drop in demand from Asia in the first half of 2024. Inventories data will be important as US summer holidays get into full swing. Range breakout on the cards... is the $90 a barrel mark out of the question?

01-07-2024 13:07 GMT by Zain Vawda

Gold Price Update: XAU/USD rises as search for catalyst rumbles on

Gold rises as a weaker US Dollar and uncertainty around monetary policy continues. ISM data later today before all attention turns to US jobs data later in the week. Trendline break and price action hint at at a potential rise toward the $2370 resistance handle. Market participants are closely watching for a new catalyst to drive gold prices in a definitive direction.

01-07-2024 08:20 GMT by Zain Vawda

Gold Price Update: XAU/USD surges to $2330 after yesterday's selloff – What’s next?

Acceptance below $2300/oz remains elusive as bulls return in force. PCE inflation data culd shake up the markets and provide a stable medium-term outlook for gold prices. Trendline break hints at potential upside toward $2365-2370/oz area. Must Read: US Dollar on Edge: how PCE data could shake up the markets Gold (XAU/USD) prices surged on Thursday following a sharp selloff and a brief dip below the $2300 psychological barrier.

27-06-2024 11:01 GMT by Zain Vawda

Gold prices under pressure as the Dollar Index (DXY), US Yields Rise

Gold continues its decline with $2300/oz firmly back in sight. US Dollar index and US 10Y yield continue to rise, US 10Y now at 4.275%. PCE inflation data could be the catalyst needed for gold prices to find some direction. Fundamental Overview Gold prices remain under pressure this morning as rising US yields and a stronger US Dollar weigh on the precious metal.

26-06-2024 06:45 GMT by Zain Vawda

Oil Price Outlook: Brent Crude Eyes Further Gains on Supply Risks

Crude Oil prices start the week on the front foot, up 0.94% at the time of writing. Geopolitics, supply risks and the summer holidays keep buyers hopeful. MA crossover and support bounce hint at fresh highs this week. Fundamental Overview Oil benchmarks are trading higher to start the week as supply risks were helped by US dollar weakness.

24-06-2024 12:14 GMT by Zain Vawda

Gold & Silver test two-week highs on geopolitical concerns and rate cut optimism

Key Points: Geopolitics return to the fore as concerns mount around the Middle East and Asia.. Safe haven demand sees gold (xau/usd) rise toward 2350 resistance. Silver technicals hint at the potential for further upside. Commodity markets have returned to positive territory this morning, driven by gains in both silver (XAG/USD) and gold (XAU/USD).

20-06-2024 09:36 GMT by Zain Vawda

Gold Price Outlook: Bears Take Early Control as US Dollar Index (DXY) Rises

Gold surrendered Friday's gains as a retest of $2300 gains momentum. US dollar index (DXY) rises but faces stern resistance at 105.63. Geopolitics remains on the back burner for now, but risks remain. Fundamental Overview and Week Ahead Gold prices began the week on the backfoot, with a slight gap to the downside at the open.

17-06-2024 06:08 GMT by Zain Vawda

WTI Oil Week Ahead: WTI Eyes $80 a Barrel on Demand Optimism

WTI Oil on course for its best week in over two months. WTI unfazed as OPEC and IEA forecast paint differing demand pictures. WTI eyeing trendline break and psychological $80 a barrel mark.

14-06-2024 10:12 GMT by Zain Vawda

Gold (XAU/USD) Vulnerable Heading Into US CPI and FOMC Releases

Gold struggles for direction ahead of key US data releases as geopolitics take a backseat. People’s Bank of China (PBoC) pauses gold buying following 18-Month spree. Downside momentum appears to be building as buyers lack conviction. Fundamental Overview Gold has edged higher this week yet remains under pressure heading into the US inflation data release and the FOMC decision.

12-06-2024 07:45 GMT by Zain Vawda

Gold Technical: On the brink of a potential multi-week corrective decline

Gold (XAU/USD) plummeted below its 20-day & 50-day moving averages, and recorded a daily loss of 3.45% last Friday, 7 June; its worst daily performance since November 2020. The main negative catalyst has been a halt in China’s gold purchases in May after 18 consecutive months of buying through its official reserves.

10-06-2024 03:51 GMT by Kelvin Wong

Market Insights Podcast - Volatile oil prices ex-post OPEC+, ECB and US NFP on the radar for this week

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. Firstly, OPEC+ members did not extend the voluntary cuts of 2.2 million bpd till end of 2024 but instead only until Q3 2024, oil prices reacted negatively due to incoming influx of more supplies after September 2024. Secondly, market participants have likely fully priced in a 25 bps cut for this coming Thursday, 6 June ECB monetary policy meeting.

04-06-2024 00:19 GMT by Kelvin Wong

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