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 edges higher, gold struggling on US rate concerns

Oil remains range bound but ending the week on a positive Oil prices are edging higher again today but given how they've traded over the last couple of months I'm struggling to read too much into it. The inventory data on Wednesday was bullish on the face of it and the eurozone inflation data today won't do it any harm either, but uninspiring Chinese PMIs overnight don't fill me with confidence. Broadly speaking, it's range-bound as it has been since early May, and showing little signs of breaki

30-06-2023 08:41 GMT by Craig Erlam

Oil prices recovering, gold falls below $1900 on strong US data

Oil continues to consolidate amid an uncertain economic outlook Oil prices are continuing to recover on Thursday after falling back toward their range lows on Wednesday. The gradual consolidation that we're seeing in crude doesn't appear to be nearing an end, with the price simply fluctuating between the range highs and lows over the last couple of months. The uncertainty around inflation, interest rates, and therefore the economy may well be behind that as investors have frequently been caught

29-06-2023 12:55 GMT by Craig Erlam

Bitcoin edges higher as Coinbase asks court to dismiss SEC lawsuit, Commodities pare earlier losses

Bitcoin continues to hold onto the $30,000 level as crypto traders await any decision with Bitcoin ETFs or with pending SEC lawsuits. Today, Coinbase Chief Legal Officer said, “Coinbase just doesn’t list securities, period.... We have always looked to add assets that are appropriate for not only our customers, but consistent with our lawful authority." Coinbase is hoping to get a dismissal of the SEC lawsuit that it failed to properly register its business. An immediate decision might be toug

29-06-2023 12:30 GMT by Edward Moya

Podcast - Powell stays hawkish and eyes more hikes

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze Fed Chair Powell's comments at the ECB Forum, reports of that the US is considering fresh curbs on AI chips to China, and gold markets.

28-06-2023 16:13 GMT by Edward Moya

Commodities try to shrug off Powell's hawkish message about consecutive hikes

Commodities were tested after Fed Chair Powell triple downed on the Fed's dot plots. The dollar initially caught a bid but that was short-lived. At the end of the forum, traders really didn't learn anything new. Oil Before the EIA report, crude prices were wavering after a larger than expected drop in inventories, countered fears that several banks will be sending the global economy into recession. Yesterday, the API report showed crude stocks declined by 2.4m bpd. Energy traders however tu

28-06-2023 15:10 GMT by Edward Moya

Oil remains range-bound, gold under pressure

Oil prices hold in recent range Oil prices are edging higher again today after once again sliding back toward the range lows of the last few months. What's interesting is that, as we've seen previously, Brent crude failed to reach the previous low.

28-06-2023 07:56 GMT by Craig Erlam

Tightening fears take down oil & gold, Fidelity eyes another Bitcoin ETF attempt

Oil It’s going to take a lot to change the minds of energy traders. Fears of a weaker global growth outlook are not going away anytime soon.

27-06-2023 14:26 GMT by Edward Moya

Oil in choppy waters, stubborn inflation weighs on gold

Oil remains volatile but range-bound amid an uncertain outlook Oil is trading a little higher on Tuesday after rebounding off the lows in very choppy conditions in recent days. While there will of course be various contributing factors behind these moves, the fact remains that oil is trading within the same range it has for almost two months and what we're continuing to see is it fluctuate roughly between the upper and lower boundaries. Brent has fallen just short of the previous lows now on fou

27-06-2023 04:22 GMT by Craig Erlam

Geopolitical chaos, FX Intervention, and US banks’ stress test results

Russia’s weekend mutiny cast doubts on Putin’s grip on power. No major impact on markets but keep a lookout on Gold, which bounced off the key support zone of US$1,913/1,896 per ounce. Stern FX verbal intervention from Japan’s top currency official. Watch USD/JPY key near-term support at 142.50/25. US banking stocks tumbled ahead of annual key Fed’s banks’ stress test results Before the start of this new trading week, market participants were being jolted from their weekend leisure activities

26-06-2023 02:57 GMT by Kelvin Wong

Week Ahead - Inflation and Recession Risks

While Europe appears at great risk for a recession as traders bet on aggressive rate rises by all the European central banks, the Fed is still expected to be nearing the end of their respective rate hiking campaign. The focus in the US will fall on the PCE readings. If inflation comes down as expected, the swap futures might grow even more confident that the Fed will only deliver one more rate hike.

23-06-2023 15:16 GMT by Edward Moya

Podcast - Tightening to a recession

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the flash global PMIs, the UK's mortgage crisis, Elon Musk Vs Mark Zuckerberg, and the return of the crypto bulls.

23-06-2023 14:36 GMT by Edward Moya

Economic jitters hurt oil and boost gold, Crypto unfazed

Recession risks drive safe-haven flows gold's way Oil has worst weekly decline since May Bitcoin tests highest level in a year Oil Oil prices are declining on fears that a European recession and delayed stimulus from China will spell trouble for the global growth outlook. Next week, the heads of the major central banks will gather in Portugal and likely signal a commitment to tackle inflation with aggressive rate hikes. Energy traders are worried that the Fed and friends might cripple econom

23-06-2023 10:32 GMT by Edward Moya

Oil and gold tumble as central bank tightening threatens global outlook, Bitcoin at $30k

Oil Oil prices are going to remain heavy as central bank tightening will kill the global growth outlook. Energy traders will keep a close eye on today’s stockpile that might show a modest draw. The oil market will remain heavy until European inflation eases. Brent crude could make a run towards the $70 region but should rebound once we finally see significant easing come from Beijing. A bullish EIA crude oil inventory report was unable to stop WTI crude's selling pressure. Stockpiles decl

22-06-2023 13:39 GMT by Edward Moya

Oil remains choppy, gold eyes BoE decision

Oil remains choppy but edging towards the upper end of its range Oil prices remain very volatile as we've seen over the last week. Trading has been very choppy as traders have tried to reconcile weaker Chinese growth, slightly more modest support from the PBOC, more hawkish central banks, and resilient economies.

22-06-2023 03:44 GMT by Craig Erlam

Stocks lower as Hawkish Powell doubles down on tightening threat

Dollar drops after 3-day rally Powell remains hawkish; bringing down inflation has a long way to go Fed swaps price in a 69.2% chance of a hike at the July 26th FOMC meeting US stocks declined as Fed Chair Powell’s testimony to the House affirmed the Fed’s threat of higher rates to combat inflation. Wall Street should not have been surprised by Fed Chair Powell’s commitment to vanquish inflation, but swap futures are still only pricing in one more rate hike. Powell reiterated that the economy

21-06-2023 16:41 GMT by Edward Moya

Oil in choppy waters, UK inflation spike puts pressure on gold

A very choppy start to the week for oil prices Oil prices have been very choppy at the start of the week as traders digest weaker economic prospects against higher Iranian output and a slightly more modest rate cut in China. There are so many moving parts at this stage but at this point in time, there's more negative than positive as far as the crude price is concerned. Additional supply from Iran is undermining Saudi Arabia's efforts to desperately manipulate prices higher with production cuts.

21-06-2023 04:38 GMT by Craig Erlam

Risk aversion weigh on oil and gold, Bitcoin rises on BlackRock planned ETF and EDX launch

Oil Crude prices are lower on disappointment with the size of cuts with China’s key lending rates. Oil seems locked in on anything and everything that has to do with China. Last week, oil was supported by improving Chinese refiner quotas. This week, energy traders are seeing oil weakness emerge on disappointing stimulus efforts. WTI crude looks like it is starting to find some decent support at the $68 region and that should hold as long the Fed does spook markets that they might be read

20-06-2023 12:17 GMT by Edward Moya

Oil remains choppy, gold drifting after US holiday

Oil remains choppy but flat and in lower range Oil prices are relatively flat today, mirroring yesterday's session which was broadly choppy but ultimately directionless. Crude has rebounded strongly since falling toward its 2023 lows early last week but remains in its lower range, roughly between $70-$80 per barrel and it's showing little sign of breaking that in the short term. While some believe the market will be in deficit later in the year, aided by the Saudi-driven OPEC+ cuts, which could

20-06-2023 04:51 GMT by Craig Erlam

Oil and gold range-bound, bitcoin vulnerable

Economic outlook maintains pressure on oil prices Oil prices are trading broadly flat at the start of the week, in keeping with the general feeling in the markets in the absence of any notable catalysts. It has recovered quite well over the last week having fallen back towards the 2023 lows last Monday.

19-06-2023 13:17 GMT by Craig Erlam

Oil pares gain on refinery outages, Gold's busy week ends where it started

Kpler data shows Iran oil exports hit highest level since sanctions started China increase oil import quota 20% from a year ago Gold ETFs reduced for a 13th straight day Oil Oil is rallying as the short-term fundamental outlook appears to have turned a corner, with Europe’s diesel premium surging and as China delivers a massive crude import quota. Europe’s widening of Gasoil cracks was triggered by refinery maintenance across Asia, while China’s imports improve and probably will become robust

16-06-2023 12:03 GMT by Edward Moya

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