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 steadies, gold rebounds despite hawkish Fed

Oil steadies but further volatility may be in store Oil prices are steady at the end of the week, the rest of which has been anything but. There’s been a lot to factor in recently from OPEC+ (Saudi) output cuts to higher interest rate expectations, deteriorating economic prospects, and rate cuts in China. In all of that, the price has held in its lower 2023 range - roughly $70-$80 in Brent - but it did test the lower end of this earlier in the week.

16-06-2023 11:01 GMT by Craig Erlam

Oil still volatile near lows, gold recovers early losses, bitcoin slips further

Oil volatile near lows Oil prices remain volatile after inventory data published by EIA reported a substantial 7.9 million barrel build last week. Brent saw its gains on the day wiped out while WTI slipped back below $70.

15-06-2023 12:26 GMT by Craig Erlam

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Video - Gold wobbled by hawkish Fed pause

OANDA Senior Market Analyst Craig Erlam discusses the Fed decision in detail and what it means for gold.

15-06-2023 11:39 GMT by Craig Erlam

Oil finds support, Gold crushed on global central bank tightening, Cryptos waver

China's oil demand stood at 14.6 million bpd, +17% y/y, but down from a month ago Strong dollar killing gold as more rate hikes penciled in by Fed Global crypto market barely holds onto the $1 trillion level, down 3.5% to $1.02T Oil Crude prices are trying to find support as the global growth outlook remains vulnerable to further shocks from aggressive rate hiking campaigns. The Fed will keep the short-term outlook volatile as they are eyeing further rate hikes, while China rushes to deliver s

15-06-2023 10:30 GMT by Edward Moya

Podcast - The Fed's Hawkish Skip

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the Fed's hawkish skip, updated staff projections, and Fed Chair Powell's presser. They also preview the ECB rate decision.

14-06-2023 17:17 GMT by Edward Moya

Powell tried to have a very hawkish Fed day

Fed held interest rates steady after 10 straight increases Fed Dot plots show two more small rate hikes are expected but swap futures only price in one rate increase Hawkish FOMC statement and projections undone as Powell was unable to convince markets that 2 more increases will likely happen US stocks initially tumbled after the Fed tried to deliver a very hawkish skip. A unanimous vote to pause the Fed’s rate hiking campaign also included a very hawkish dot plot.

14-06-2023 16:03 GMT by Edward Moya

Oil rebound continues, gold tentatively higher

Oil rebound continues but it remains in the middle of its lower range Oil is continuing to rebound today as technicals combined with promising developments in the US and China lift it off its lows. Brent was treading close to its 2023 lows, where it has fallen on a few occasions in recent months prior to this week.

14-06-2023 12:04 GMT by Craig Erlam

Must the BoE now consider larger rate hikes? Fed on course to pause? Oil bounces back

A truly devastating jobs report for BoE policymakers It's not often that you would refer to a jobs report that delivers a drop in unemployment, record employment and a rise in wages as horrible, but that is exactly what the Bank of England will be feeling today. The central bank has raised interest rates for the last 12 meetings in a row and yet the economy is showing the kind of resilience that few would have anticipated. This creates an enormous headache for the MPC as it desperately wants t

13-06-2023 14:17 GMT by Craig Erlam

Oil bounces back, gold slips after CPI report

Oil bounces back amid more favourable developments Oil prices are staging a comeback today, perhaps buoyed by the softer inflation data which may open the door to the end of the Fed's tightening cycle and enable the soft landing it always hoped for. That said, there may be a technical element to it as well, with the price having traded around its 2023 lows in the run-up to the release. There was always likely to be two bullish cases for crude and this only slightly aids one of those.

13-06-2023 14:13 GMT by Craig Erlam

Oil rallies on China stimulus, gold higher on weaker dollar

Commodities get a boost as China weighs broad stimulus Gold's Triple Top still holds Dollar tumbles as Fed rate hike odds drop to 9.6% for Wednesday's meeting Oil Crude prices got a boost after China prepared a broad package of stimulus. A surprise cut to the 7-day reverse repo rate sent a message to traders that the world’s second-largest economy is finally going to get significant stimulus that should help with their struggling post-COVID recovery.

13-06-2023 12:15 GMT by Edward Moya

Gold Technical: Potential breakdown to resume short-term downtrend

In the past 3 weeks, Gold (XAU/USD) has been evolving with a minor “Descending Triangle” with its range support at US$1,940. Price actions have failed to surpass the 50-day moving average now acting as a resistance at US$1,991. Short-term downtrend phase from the 4 May 2023 high remains intact. Fig 1: Gold (XAU/USD) major trend as of 13 Jun 2023 (Source: TradingView, click to enlarge chart) Fig 2: Gold (XAU/USD) short-term trend as of 13 Jun 2023 (Source: TradingView, click to enlarge ch

13-06-2023 04:19 GMT by Kelvin Wong

Oil shorts are in control, Gold and Bitcoin remain heavy

Oil's 4% drop takes prices to a three-month low Gold lower but still holding key range Bitcoin remains heavy as some traders move to DeFi exchanges Oil Oil has easily become a favorite short on Wall Street. The oil market doesn't appear like it will get tight anytime soon on fears that China’s weak post-COVID recovery won’t be improving anytime soon and as Russia continues to sell more oil to China and India. In addition to all the bearish drivers, some notable oil bulls are abandoning their a

12-06-2023 15:51 GMT by Edward Moya

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Podcast - A new bull market, China growth concerns, Bitcoin dominance

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to discuss the start of the start of a new bull market, China's inflation data, Canada's employment report, and recap this week in crypto.

09-06-2023 12:50 GMT by Edward Moya

European gas futures surge on supply concerns

Energy Department plans to buy an additional 3 million barrels of crude for the SPR Europe Natural Gas surges on supply concerns and US gas ends 5-day rally 10 - Treasury yield rises 2.9bps to 3.747%

09-06-2023 12:42 GMT by Edward Moya

Oil in choppy waters, gold eyes US inflation and the Fed

Oil remains volatile but below pre-US regional banking crisis range It's been a very choppy week in oil markets, with traders forced to digest the latest compromise deal from OPEC+ against the backdrop of more interest rate hikes and dampening prospects for the global economy. Resilience in the economy now is impressive but the longer it lasts, the more it will be met with higher interest rates that could ultimately deliver a harder landing. That oil failed to break back into the band it was tra

08-06-2023 13:52 GMT by Craig Erlam

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Podcast - China trade, BoC hike, SEC goes after crypto

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the big stories of the day. They talk about the Chinese trade data, Australia GDP, Bank of Canada, Oil, Gold and the SEC lawsuit against Binance and Coinbase.

07-06-2023 14:29 GMT by Craig Erlam

BOC rate hike rattles stock, bond and gold markets

Stocks are declining after investors got spooked when the Bank of Canada restarted their rate hiking campaign. Canada’s central bank is viewed as one of the leaders when it comes to being proactive with monetary policy. They were the first to raise rates in 2022 and then put them on hold earlier this year. The BOC is signaling that more rate hikes could come and that has everyone rethinking that the Fed will be done after the July hike. Oil Crude prices are higher after the EIA report

07-06-2023 14:10 GMT by Edward Moya

Oil slips further, gold treading water

Oil remains under pressure after Saudi cut Oil prices are falling again today as Saudi Arabia's attempt to dress up a unilateral move as a group cut fails to have the desired impact. Crude is now trading below the level it ended at Friday which suggests that, despite the knee-jerk reaction on Monday, traders were hedging against broader action from OPEC+ and got a light version of the deal they feared. While Saudi Arabia remains price-driven, the market is more concerned with the economic outloo

07-06-2023 03:52 GMT by Craig Erlam

Stocks struggle for direction, AUD rises after suprising hawkish hike

Treasury yields edge higher; 10-year rises 2.3bps to 3.706% Apple momentum stalls on skepticism with $3,499 headset VIX touches lowest level since 2021 Stocks After a valiant attempt at entering a bull market, stocks are wavering as Wall Street contemplates how much more tightening will we see by the Fed. Providing some support for equities was news that Secretary of State Blinken is expected to make a visit to China and meet with key officials. Any progress in cooling tensions with the wor

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

Saudis solo-cut oil pop faded, Gold rises, Crypto crushed as Binance Sued by SEC

Saudis raises prices to Asia after surprise solo-output cut Gold rises as Fed hike odds edge lower after soft ISM services report SEC goes after Binance and CZ Oil The Saudis are going at it alone in doing whatever it takes to stabilize oil prices. The Saudi problem is that energy traders aren’t believing the kingdom has enough power to sway all OPEC+ to deliver meaningful action. The Sunday decision to deliver a solo-cut triggered a near 5% jump on the open, but that quickly disappeared.

05-06-2023 14:01 GMT by Edward Moya

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