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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.

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Reality has started to sink in for richly valued US long-duration and growth equities
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
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Podcast - Gold may continue its upside momentum with China's Q3 GDP and UK inflation on the radar next
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
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WTI Oil Technical: Eying for a potential bullish breakout above 20-day MA
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
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Global growth concerns send Commodity Currencies lower despite surge in oil and prices
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
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USD/CAD: Loonie rally stalls ahead of key support; Commodities Diverge
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
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USD/JPY: Safe-haven flows are the dominant trade on fear of war's spread
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
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XAU/USD - Safe haven flows boost gold after a rough few weeks
Geopolitical uncertainty boosts gold Driven lower recently by rising yields Fib levels may offer biggest test of resistance Gold is higher at the start of the week, buoyed perhaps by some safe-haven flows against the backdrop of geopolitical uncertainty. The dollar is also stronger which is typically a headwind for gold but it's not proving particularly problematic this morning. The yellow metal has been under immense pressure in recent weeks as investors became increasingly unsure about the in
09-10-2023 11:19 GMT by Craig Erlam
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Geopolitical risk premium on the rise may trigger another round of risk-off movement in equities
In the recent past three months, the 40% rally seen in the WTI crude oil has a significant direct correlation with the US 10-year US Treasury yield. A higher US 10-year US Treasury yield has trigged a short-term downtrend in global equities since late July 2023. WTI crude oil futures gapped up by +5% in today’s Asia opening session due to the ongoing hostilities between Israel and Hamas, the Palestinian militant group. A further up move above a key short-term resistance of US$89.70/barrel on WTI
09-10-2023 06:03 GMT by Kelvin Wong
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Podcast - US jobs report sends financial markets on a rollercoaster ride
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. Today they discuss Wall Street's reaction to a surprisingly robust US jobs report and why the dollar and stocks reversed course.  They also review Canada's impressive jobs report and discuss crude's bad week despite the significant tightness in the oil market.
06-10-2023 14:46 GMT by Edward Moya
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USD/CAD unchanged as Canada, US post strong job numbers
Canada records 63,800 jobs in September US nonfarm payrolls posts a massive gain of 336,000 Fed rate odds of a November hike rise sharply The Canadian dollar is showing limited movement on Friday. In the North American session, USD/CAD is trading at 1.3705, almost unchanged.
06-10-2023 09:15 GMT by Kenneth Fisher
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Gold Technical: A consolidation in the US 10-year Treasury yield may offer a relief bounce
Spot Gold (XAU/USD) has a significant indirect correlation with the 10-year US Treasury yield since May 2023. A potential short-term pull-back in US 10-year Treasury yield below a 4.90% key medium-term resistance may offer a “relief mean reversion rebound” on spot Gold. Watch the key support of US$1,810 on spot Gold. In the past two weeks, the price of spot Gold (XAU/USD) has tumbled swiftly by -6.90% from its 21 September 2023 high of US$1,947 to a seven-month low of US$1,813 printed on Thursd
06-10-2023 04:36 GMT by Kelvin Wong
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NZD/USD: Bounce limited as RBNZ rate hike odds for November underwhelm
Fed's Daly (non-voter) noted that recent bond market tightening equals about 1 rate hike; if labor market cools, we can hold rates steady RBNZ rate hike expectations are between a hold or one more rate hike China's improving outlook could boost commodities The New Zealand central bank is keeping all their options open after keeping rates on hold this week, refraining to signaling that inflation outlook could warrant further tightening.
05-10-2023 16:04 GMT by Edward Moya
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Brent Crude - Oil slips as OPEC+ looks to maintain cuts for now
OPEC+ expected to leave output unchanged until the end of the year Saudi Arabia and Russia are also expected to leave restrictions unchanged Brent falls more than 5% Oil prices have fallen more than 3% today as OPEC+ looks set to leave their output targets unchanged, while Saudi Arabia and Russia reaffirmed their commitment to additional cuts until the end of the year. That may not sound particularly bearish for oil but in doing nothing, the group is leaving the door open to output increases f
04-10-2023 16:29 GMT by Craig Erlam
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USD/CAD: Loonie weakness extends as oil prices drop
USD/CAD has been hit with heightened volatility given bond market chaos and the big moves in the oil market.  The dollar rally has paused against euro and yen, but it continues against commodity currencies.  Demand for all commodities are taking a hit here as surging Treasury yields are driving global growth concerns. Price action on the USD/CAD daily chart is showing the recent bullish rally is tentatively breaking above key trendline resistance that has been in place since the start of the pan
04-10-2023 12:52 GMT by Edward Moya
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Gold - Continues to struggle amid hawkish central bank warnings
Gold eyeing a seventh consecutive decline? JOLTS job openings reinforce the view of a strong labor market Major technical support below if sell-off continues Gold is on course to extend its losing run to seven sessions, with the yellow metal down around half a percent following the US JOLTS report. Rising bond yields have hammered gold prices recently which have fallen from $1,900 to near $1,800 remarkably fast.
03-10-2023 10:34 GMT by Craig Erlam
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