Jonny Hart and Trader Nick discuss the day's events in which many central bankers gave their views on interest rates and oil and gold fell further.
08-11-2023 15:28 GMT
by Craig Erlam
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.
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. Today they discuss a plethora of US economic readings, Earnings from Amazon, Exxon and Chevron, and what is happening with oil prices.
27-10-2023 15:17 GMT
by Edward Moya
Loonie lower as oil prices pare earlier gains
Overnight Index Swaps eye BOC's next move as a rate cut in H2 2024
Fed funds futures see a 31% chance of a rate by the January 31st FOMC meeting
The US dollar is rallying against the Canadian dollar as the odds of one more rate hike seem more likely with the Fed than with the BOC. After the BOC's October 25th meeting, traders appear convinced that the bank is done raising rates. Today's impressive US economic data showed core PCE came in a little
27-10-2023 13:03 GMT
by Edward Moya
Economic fears mounting
Concerns of wider conflict in Middle East abating
Brent may have entered consolidation
It's been a volatile week in the oil market, with prices today down around 2% after rebounding a similar amount a day earlier.
The economy remains a downside factor for oil prices, with traders clearly concerned about growth prospects amid high interest rates.
26-10-2023 14:18 GMT
by Craig Erlam
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss earnings from Microsoft and Alphabet, the Bank of Canada interest rate decision, PMIs, and Thursday's ECB meeting.
26-10-2023 05:13 GMT
by Craig Erlam
The minor pull-back of Spot Gold (XAU/USD) from last Friday, 20 October high of US$1,997 may have ended on Tuesday, 24 October with an intraday low of US$1,953.
Daily and 1-hour RSI indicators are showing a revival of bullish momentum.
Next intermediate resistances are at US$2,006 and US$2,028/2,037.
This is a follow-up analysis of our prior report, “Gold Technical: At the risk of a minor pull-back before potential new upleg” published on 23 October 2023. Click here for a recap.
Spot Gold (XAU
26-10-2023 01:24 GMT
by Kelvin Wong
Bank of Canada holds rates steady at 5.00% for a second straight meeting; keeps door open for future hikes
Canadian dollar initially falls to a 7-month low against the greenback
Easing war fears keep oil prices remain heavy but they are off session lows
The Bank of Canada kept rates on hold at 5.00% for a second straight time. The bank upgraded their inflation forecast, which means they are maintaining a tightening bias going forward. The BOC statement noted that the council is “concerned that
25-10-2023 12:09 GMT
by Edward Moya
The recent three weeks of rally seen in spot Gold (XAU/USD) has been driven by geopolitical risk premium and positive momentum.
The rise in the price actions of spot Gold has ignored the increase in the long-term opportunity cost of holding gold as the US 10-year Treasury yield rallied in tandem.
Heightened stagflation risk is likely the cause of the ignorance of higher holding costs in Gold.
The current short-term uptrend phase of spot Gold (XAU/USD) has reached an “overstretched condition” whi
23-10-2023 01:25 GMT
by Kelvin Wong
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss UK retail sales and consumer confidence, and market sentiment going into the weekend.
20-10-2023 20:33 GMT
by Craig Erlam
Japanese core CPI falls below 3%
Fed's Powell says inflation too high, economy too strong
The Japanese yen is slightly lower on Friday. In the European session, USD/JPY is trading at 149.96, up 0.12%.
20-10-2023 05:00 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam discusses the recent moves in gold amid risk-aversion in the markets.
19-10-2023 17:20 GMT
by Craig Erlam
Rising geopolitical risk premium may override the historical positive seasonality in the S&P 500 for the months of October and November.
The US 10-year Treasury yield is now just a stone-throw away from 5.20% and a break above it may spiral towards 6.87% next.
S&P 500’s market breadth has continued to deteriorate as only 38% of its component stocks are above their respective key 200-day moving averages.
A bearish breakdown below 4,140 key support on the S&P 500 may trigger a major downtrend phas
19-10-2023 05:37 GMT
by Kelvin Wong
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. Today they discuss the impact Middle East tensions are having with oil prices, sticky UK inflation, an overcrowded bearish bet against the euro on Wall Street, and spot Bitcoin ETF expectations.
18-10-2023 15:30 GMT
by Edward Moya
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss several key highlights for the week ahead, potential firmer gold and oil prices due to lingering geopolitical risk premium, key China economic data (Q3 GDP, Retail Sales & Industrial Production) as well as UK's inflation data for September where the consensus is expecting another month of slowdown to 6% y/y for core inflation from 6.2% y/y in August.
https://open.spotify.com/episode/25ibbNurKomUjUhujYrn2K
17-10-2023 03:29 GMT
by Kelvin Wong
Last Monday’s Asia session (9 October) gap up in price actions seen in WTI crude oil has been filled at the US$83.20 support on Thursday, 12 October.
A positive follow-through was seen on last Friday, 13 October where its price actions ended with a daily bullish “Marubozu” reversal candlestick pattern.
Watch the intermediate resistance at US$88.60 which also confluences with the 20-day moving average.
A volatile week for oil prices on the backdrop of escalating geopolitical tensions in the ongo
16-10-2023 05:52 GMT
by Kelvin Wong
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. Today they discuss the recent bond market volatility, the start of earnings season, surging inflation expectations, and the impact the war in Israel is having on commodities.
13-10-2023 16:35 GMT
by Edward Moya
Dollar remains strong on safe-haven flows spurred by the Israel-Hamas war
Gold volatility surges the most since March
Oil prices surge on disruption concerns
The Canadian currency and Australian are both weaker against the greenback as fears of rising global market turmoil grow as the Israel-Hamas conflict escalates. Oftentimes a surge in commodity prices provide a boost to key countries that deal with surging commodities, but that isn't happening here.
Oil
Crude prices are surging as the oi
13-10-2023 14:25 GMT
by Edward Moya
OANDA Senior Market Analyst Craig Erlam discusses the recent recovery in gold as traders flocked to safe havens and Fed policymakers retreated from their recent hawkish positions.
11-10-2023 18:15 GMT
by Craig Erlam
Oil rally cools and prices settle below $86 a barrel
US diesel export to Europe approach highest levels since 2019
Wall Street awaits key CPI report and bank earnings
The Canadian dollar continues to rally against the US dollar as global bond prices slide and oil prices soften after the surge from the Israel-Hamas war. The North American growth exceptionalism story has seen both the US and Canadian excel. Both countries posted robust payrolls data but the outlook for further tightening by the
10-10-2023 16:03 GMT
by Edward Moya
WSJ reports Iran helped plot attack over several weeks
Safe-haven flows didn't come to Treasuries as US bond markets were closed for Columbus Day
Risk aversion across the board; S&P 500 -0.5%, Gold +1.1%, WTI crude +4.3%, and USD/JPY -0.5%
US stocks dropped in the wake of the Hamas attack on Israel but have pared losses after Fed's Logan downplayed the need for more rate hikes. It was supposed to be a quiet Monday morning given the Columbus day holiday, which includes the closure of the US bon
09-10-2023 11:20 GMT
by Edward Moya