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 - Paring gains ahead of the Fed

Fed could be the next big catalyst as markets prepare for one more hike A break of $2,000 could be a bullish development Gold appears to be pausing for breath ahead of the Fed meeting on Wednesday. Economic data recently has given the yellow metal a big lift, with the price coming close to testing $2,000 at one stage last week.

24-07-2023 12:15 GMT by Craig Erlam

Brent Crude - Oil testing the 200DMA for the first time since last summer

A new three-month high Can Brent break the 200-day SMA? Oil prices are trending higher again on Monday, building on the surge late last week and reaching their highest level in three months. There have been a number of factors that have contributed to the gains recently, starting with the Saudi extension to its million barrel cut alongside Russia's export reduction followed by data that could enable a soft landing in countries that are aggressively raising rates.

24-07-2023 12:11 GMT by Craig Erlam

Week Ahead - Bracing for next week's earnings, rate decisions, and major economic data

US The Fed is expected to resume raising rates at the July 26th FOMC meeting. Fed funds futures see a 96% chance that the central bank will deliver a quarter-point rate rise, bringing the target range to between 5.25% and 5.50%, almost a 22-year high. The Fed delivered 10 straight rate increases and then paused at the June FOMC meeting. The Fed is going to raise rates on Wednesday and seems poised to be noncommittal with what they will do in September. The economic data has been mixed (str

21-07-2023 14:00 GMT by Edward Moya

Podcast - A Big Week Ahead (BOJ, ECB, Fed, Earnings, Major US data)

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to discuss the drop in the yen after a YCC report, recap some of this week's big macro themes and talk commodities.

21-07-2023 12:47 GMT by Edward Moya

Oil rises as OPEC+ likely to try to keep oil market tight; Gold lower on strong USD

Commodities are starting to post some diverging trends as US soft landing hopes improve. Oil has benefited from a resilient US economy, but gold has struggled as a tight labor market suggests the Fed may need to keep interest rates higher for longer. A recent Bloomberg survey noted that firmer growth prospects are expected through Q3, potentially rising 0.5%. The outlook for Q4 is GDP to contract 0.4%. Oil Oil prices are rising on optimism that the outlooks for China and India should keep the

21-07-2023 12:40 GMT by Edward Moya

WTI Oil Technical: Potential bullish reversal “Descending Wedge” in play

Major downtrend phase from the 7 March 2022 swing high has evolved into a potential bullish reversal “Descending Wedge” configuration. US$77.30 is the key intermediate resistance (200-day moving average & upper boundary of “Descending Wedge”). Key short-term support rests at US$72.20, also the 50-day moving average. Since its 7 Nov 2020 medium-term swing high of US$94.11 per barrel, the price actions of West Texas Oil (a proxy of WTI crude oil futures) have been oscillating within an 8-month bu

21-07-2023 03:49 GMT by Kelvin Wong

Oil edges higher, strong dollar disrupts gold's ascent

US sanctions Russian oil service companies and First deputy energy minister Sorokin WTI Crude open interest plunges to lowest levels since January Gold tumbles after reaching a two-month high Oil Crude prices are drifting higher on what is a very slow news day for crude. Yesterday's declining stockpile data and weak demand stats didn't help oil extend its recent rally.

20-07-2023 14:44 GMT by Edward Moya

Brent Crude - Oil trading choppy but holding onto recent gains

Better inflation outlook helps to lift oil prices China stimulus could boost demand further 200/233-DMA a potentially big test of resistance above Oil prices have steadied after a volatile week following the breakout from its two-month range. The break came on the back of output curbs from Saudi Arabia and Russia, initially, but then better inflation data from the US, eurozone, and UK which could boost economic prospects. Since then, the price has been volatile but importantly held above previo

20-07-2023 12:25 GMT by Craig Erlam

Gold - Eyeing another move above $2,000 as inflation outlook improves?

Progress on inflation driving gold's gains UK becomes the latest to make significant improvements $2,000 a major psychological level Gold broke higher again on Tuesday after briefly paring gains late last week and early this. Lower yields and a weaker dollar are continuing to boost its appeal on the back of some more promising inflation data and lower interest rate expectations. That inflation data has been both widespread, from the US to the eurozone and now the UK, and at both the headline a

19-07-2023 17:35 GMT by Craig Erlam

Oil rally capped, Gold finds its pre-FOMC decision range, RFK Jr talks Bitcoin

EIA Report showed Cushing stockpiles declined most since October 2021 Fed rate cut bets for December 13th FOMC meeting rise to 24.0% Bitcoin bulls nervous a US ETF launch could trigger a similar Bitcoin futures collapse Oil Crude prices tentatively rose but gains were capped as Russian exports are expected to rise and as the EIA report posted disappointing demand figures. Oil was steadily rising over the past few weeks on expectations that Russia and the Saudis would keep this market tight. Ru

19-07-2023 14:44 GMT by Edward Moya

Brent Crude - Oil edging higher again after recent positive developments

Oil turns higher after brief pullback EIA reports small draw of 0.7 million 200DMA could provide next test of resistance Oil prices have been creeping higher throughout the European session after bouncing back a little on Tuesday. Output curbs from Saudi Arabia and Russia appeared to have got things moving but it may be the better inflation data that we're seeing that has enabled it to push on after two months of consolidation. We've seen some volatility around the inventory data from EIA today

19-07-2023 12:12 GMT by Craig Erlam

Gold rises post ECB's Klot comment and Canadian CPI report

ECB's Knot (hawk) noted that for July I think it is a necessity, for anything beyond July it would at most be a possibility but by no means a certainty Canadian headline CPI was 2.8%, versus 3% expected, which should allow the BOC to keep rates on hold Global crypto market cap hovers around $1.2 trillion Oil Crude prices are steadying here on expectations that the oil market will remain tight as Russian shipments drop and as China prepares to provide more support to households.

18-07-2023 10:51 GMT by Edward Moya

Gold - Edges lower after failing at $1,960 but is the recovery over?

Gold pares gains after post-inflation bounce US yields remain lower, pulling the dollar down with them Resistance levels remain above at key Fibonacci levels Gold has rotated lower over the last couple of days after previously recovering on the back of encouraging US inflation data. The decline in US yields that we've seen since the release has weighed heavily on the US dollar and given the yellow metal a real boost after having endured a pretty torrid May and June. Is the recovery sustainable

17-07-2023 16:39 GMT by Craig Erlam

Brent Crude - Chinese data and resumed Libyan output weigh on oil

Chinese growth underwhelms Libya resumes production after brief outage Key technical support levels still below Oil prices pulled back from last week's highs today, weighed down by the weaker Chinese figures and reports of some Libyan outages being restored. The numbers from the world's second-largest economy are almost certainly the bigger factor here especially against the backdrop of sluggish growth around the globe.

17-07-2023 16:29 GMT by Craig Erlam

Oil tentatively lower on disappointing Chinese data

Goldman Sachs eyes a significant crude deficit in the second half of the year Markets price in 25% chance Fed cuts at December 13th FOMC meeting Bitcoin supporter Novogratz expects Bitcoin ETF gets done by end of year Oil Crude prices are lower as China’s economic recovery stalled and as Libya resumed production at key oil fields. Oil won’t catch a bid unless China finally unleashes meaningful stimulus that propels large parts of the economy. Little rate cuts here and there and support for p

17-07-2023 13:01 GMT by Edward Moya

Week Ahead - UK inflation, earnings, interest rate decisions galore

The week before the July 26th FOMC meeting will contain a handful of key economic reports and several key earnings results. The initial assessment of the economy is somewhat upbeat as CEO Jamie Dimon noted that the US economy continues to be ‘resilient’.

14-07-2023 17:07 GMT by Craig Erlam

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Podcast - UK inflation, gold runs into resistance, US markets

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the key themes moving markets at the end of the week. They discuss the latest UK data and look ahead to next week's CPI release, gold and how US markets have traded in the aftermath of the inflation numbers.

14-07-2023 13:00 GMT by Craig Erlam

Brent Crude - Incredible gains and major resistance level overcome

Output cuts and inflation data continue to boost crude prices Temporary disruptions could add to the bullishness Potential resistance around $83-$84 Oil is trading relatively flat today but has made tremendous gains over the last couple of weeks and could still add to that over the coming sessions. The price has risen more than 13% from the lows on 28 June and, despite appearing to struggle at times yesterday, still has plenty of momentum.

14-07-2023 08:34 GMT by Craig Erlam

Too early to celebrate disinflation

Current up moves in long-duration equities and fixed income came at the expense of a weaker US dollar. A persistent weak US dollar may lead to an upside revival in commodities prices. Inflationary expectations may creep up again due to higher oil/commodities prices. Disinflationary narrative seems premature and may be mispriced. Market participants have taken a “disinflation ecstasy pill”, bidding up long-duration equities and fixed income in the past two sessions after the latest June US CPI d

14-07-2023 02:50 GMT by Kelvin Wong

Gold - Holding gains but a few big tests lie above

Stalling at $1,960 Key fib levels remain a big test Gold is also trading marginally higher today and struggling around a notable resistance level, $1,960. It broke through $1,940 yesterday on the back of the inflation numbers and has now entered retracement territory where a few key levels will be put to the test. From a technical standpoint, those are the 38.2%, 50%, and 61.8% Fibonacci retracement levels - May highs to June lows - which happen to fall around $1,960, $1,980, and $2,000, respec

13-07-2023 12:49 GMT by Craig Erlam

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