OANDA Group
CFXS
Newsletter
Open hamburger menu

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.

AdobeStock_581230141-scaled.jpeg
WTI Oil Technical: Risk of countertrend setback after rallying a year-to-date high
Erased prior two weeks of consecutive losing streaks to trade a current year-to-date closing high of US$86.31 per barrel printed on last Friday, 1 September. Price actions are oscillating within short-term and medium-term uptrend phases. Hourly technical indicators (RSI & Bollinger Bands Bandwidth) are suggesting the risk of an imminent minor pull-back in price actions after last week’s strong upside reversal. Watch the key short-term pivotal resistance at US$87.25 per barrel. This is a follow-
03-09-2023 22:27 GMT by Kelvin Wong
AdobeStock_581230141-scaled.jpeg
Brent Crude - Oil edges cautiously higher after mixed Chinese PMIs
Strong run continues Chinese data doesn't hinder the rally Momentum may be key as price approaches August highs Oil prices are nudging higher again today, technically on course for a fifth day of gains in six in Brent - six in a row in WTI - although broadly speaking they're just a little above the middle of what appears to be a newly established range. Brent peaked near $88 a few weeks ago and bottomed around $82 last week as we await more direction on the economy and therefore demand. Data th
31-08-2023 12:29 GMT by Craig Erlam
oil-outline-field-pump.jpg
Brent Crude - Oil steadies but may be vulnerable to fresh spikes
Oil prices stabilize after establishing a new range Hurricane season may have a greater influence amid tight market Head and shoulder neckline remains intact Oil prices appear to be stabilizing around the middle of their new higher range, in the aftermath of OPEC+ cuts (voluntary Russia and Saudi in particular). Brent crude currently sits a little shy of $85 after rebounding higher off $82 last week and peaking just above $88 earlier this month. There remains considerable uncertainty around th
29-08-2023 12:53 GMT by Craig Erlam
oil-crude-dollars-usd-bco-wti.jpg
Brent Crude - Tentative recovery but growth concerns continue to weigh
Investors becoming wary about the economic outlook Supply cuts remain supportive Head and shoulders neckline provides support Oil prices recovered a little toward the back end of the week after coming under some pressure this month. Supply cuts from OPEC+ continue to support the market but uncertainty over the global economic outlook - sluggish recovery in China, possible recession in the US and Europe - are weighing a little.  Recent economic data has not been encouraging and central banks ar
25-08-2023 10:43 GMT by Craig Erlam
canada-map-flag-loonie-dollars-canadian-dollar.jpg
USD/CAD: Little Loonie support from oil; Reversal or Fakeout time?
Dollar supported as 10-year Treasury hits 4.34%, highest levels since financial crisis Oil market to remain tight, but so far offers little help for the loonie Loonie was having biggest intra-day gain since end of July The Canadian dollar has been steadily weakening against the greenback since the middle of July.  The USD/CAD bullish uptrend appears to be facing some resistance as FX traders anticipate both the Fed and BOC are possibly one more rate hike away from being done with tightening. It
21-08-2023 13:24 GMT by Edward Moya
AdobeStock_113312323.jpeg
WTI Oil Technical: Potential bullish reversal to resume medium-term uptrend
The recent decline of -6.8% from its 10 August 2023 high has not damaged the medium-term uptrend phase of WTI oil. Today’s price actions have indicated a revival of a short-term uptrend phase. Watch the key short-term support at US$80.90. This is a follow-up analysis of our prior report, “WTI Oil Technical: Time for a potential short-term pullback” published on 15 August 2023. Click here for a recap. The price actions of West Texas Oil (a proxy of WTI crude oil futures) have indeed shaped the
21-08-2023 08:06 GMT by Kelvin Wong
AdobeStock_178158508-1-scaled.jpeg
Week Ahead - Powell's Jackson Hole Speech will be Must-See TV
The main event for next week will be the Kansas City Fed’s Jackson Hole Symposium.  Fed Chair Powell’s speech will reiterate that more rate hikes might be needed and that rates should stay higher for longer.  With the recent surge with real yields, Fed Chair Powell can acknowledge that policy is restrictive and that future rate cuts could eventually be warranted as long as inflation has been defeated.
18-08-2023 14:30 GMT by Edward Moya
AdobeStock_433957890-e1622826736327.jpeg
Dollar dip might be temporary if US outlook remains robust
Walmart CEO is more optimistic about spending patterns  than he did 3 months ago Dollar's five-day rally halted as yen and yuan rebound Fed could remain in hiking mode if economic resilience prevents inflation from coming down Now that we heard from Walmart, it is clear that the US consumer is still willing to spend. Expectations for robust consumer spending in Q3 have been confirmed and that should keep growth estimates trending higher.  With COVID savings still expected to be used over the ne
17-08-2023 11:53 GMT by Edward Moya
Canada-Flag-Cracked-economy-loonie-usdcad-canadian-dollar.jpg
USD/CAD rises despite quickening Canadian CPI; Commodities stumble except for Natural Gas
Headline Canadian inflation surges above BOC's 1-3% target range Mixed report as core inflation falls to 9-month low European Natural Gas skyrockets on fears Aussie labor strikes could disrupt 10% of global LNG exports Canadian CPI The Canadian dollar initially rallied after the July inflation rose back the Bank of Canada’s inflation-control target range of 1% to 3%. ​ This was not entirely hot as both core readings remained subdued.
15-08-2023 13:02 GMT by Edward Moya
AdobeStock_581230141-scaled.jpeg
WTI Oil Technical: Time for a potential short-term pullback
Recent bullish breakout from “Descending Wedge” has led to a 10% rally to reach a medium-term resistance zone of US$83.80/84.90. Technical elements are now advocating a potential corrective pull-back with supports coming in at US$79.80 and US$77.20. Today’s surprise three interest rate cuts by China’s central bank, PBoC has triggered a risk-off behaviour in cross-assets (FX, stock indices, commodities) via a negative reflexivity feedback loop. This is a follow-up analysis of our prior report, “
15-08-2023 08:11 GMT by Kelvin Wong
dollar-chess-board-currencies-euro-pound.jpg
Yields rise alongside dollar; Tech leads the charge higher as stocks rebound from 2-week lows
US 10-year tips yield rise to the highest levels since 2009 NY Fed near-term inflation falls to lowest levels since 2021 Nasdaq rebounds as AI trade returns Summer trading and some choppiness has helped the US dollar continue to rally as rates remain volatile.  It has not been a smooth ride for the dollar as investors weigh concerns on rising debt levels, cooling inflation expectations, and rising confidence that the Fed will cut rates next year.  What is fascinating is that the 10-year TIPS yi
14-08-2023 15:45 GMT by Edward Moya
bear-bull-market-climate.jpg
Week Ahead - A busy week ahead! FOMC minutes, US retail sales, UK Jobs/CPI, RBNZ Decides and Japan GDP/CPI
US With Wall Street very confident that the Fed won’t be raising rates in September, the focus shifts to how strong is the economy and whether it is too robust and if that could sparking fear that inflation might reaccelerate. The economic data starts on Tuesday with a July retail sales report that should show spending picked up from a month ago, which was boosted by Amazon’s Prime Day.  Also on Tuesday is the Empire manufacturing report which should show August activity remains weak and t
11-08-2023 15:12 GMT by Edward Moya
AdobeStock_41301781.jpeg
US stocks gyrate on hot PPI report and anchored inflation expectations; Oil rallies and gold softens
US stocks are mostly gyrating over economic data points and surveys that remind us that the disinflation process is going to struggle reaching the Fed’s 2% target. A slightly hotter-than-expected PPI report sent Treasury yields initially higher as Wall Street started to fret over a potential reacceleration with inflation.  It is easy to make the hawkish case for the Fed as we are still expecting rising wages from labor disputes, higher energy prices, and a gradual weakening of the labor market.
11-08-2023 13:11 GMT by Edward Moya
Oil-Refinery.jpg
Brent Crude - Oil looking a little tired as gas prices pare gains
Oil prices have risen more than 20% since late June, buoyed by the actions of OPEC+ and the unilateral additional cuts by Saudi Arabia and Russia, both of which have been extended to September. Furthermore, the economic outlook has become less bleak as countries have been seen to be making progress on inflation, allowing for the end - or near-end - of tightening.
11-08-2023 11:53 GMT by Craig Erlam
1 … 33 34 35 … 84