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 - 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

Brent Crude - Is the oil rally starting to stall around $80?

US inflation data takes Brent above $80 Chinese trade data disappoints again Momentum appearing to wane Oil prices are a little higher again in early trade, seemingly still buoyed by yesterday's US inflation report, and are continuing to push for a convincing break above $80 in Brent crude. It is trading a little above $80 this morning and did at times yesterday, but rather than generating fresh momentum, it seems to instead be running into some difficulty. That would be understandable.

13-07-2023 12:32 GMT by Craig Erlam

Gold - Boosted by US inflation data but recovery still early

Recent range highs broken after CPI release Lower inflation could increase gold's appeal One more rate hike expected from the Fed The US inflation data gave gold just the boost it needed to break back above $1,940 after failing to pierce that level in recent days. The yellow metal has been range-bound in recent weeks between $1,900 and $1,940 and today's report did what the jobs data failed to do; it provided the catalyst for a breakout. Gold Daily Source - OANDA on Trading View There remains

12-07-2023 18:06 GMT by Craig Erlam

Brent Crude - Trying to break $80 after the US inflation report

The prospect of a soft landing lifts oil prices Rally builds on efforts by Russia and Saudi Arabia to boost prices A break of $80 could be another big step Oil prices have been understandably lifted by the US inflation release today as it could be seen to increase the possibility of a soft landing. Brent was already trending higher though and is now at its highest point since April, having already broken out of the range it traded within for the last couple of months. The next level for Brent

12-07-2023 17:00 GMT by Craig Erlam

XAU/USD - Could US CPI data trigger a major breakout in gold?

Traders appear bullish ahead of CPI release A number of resistance levels above Could a stronger inflation report push gold below $1,900? Gold is edging higher again today but there is clearly an element of caution in the move. Perhaps traders are hopeful of a favorable CPI figure from the US but they're clearly not that confident with the price remaining below $1,940 where it has repeatedly run into resistance. Gold Daily Source - OANDA on Trading View A break above here today could be a bull

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

Stocks gain ahead of June CPI report

US June CPI M/M: 0.3%e v 0.1% prior; Y/Y: 3.1%e v 4.0% prior; Core CPI (ex food and energy)M/M: 0.3%e v 0.4% prior; Y/Y: 5.0%e v 5.3% prior Microsoft gets go-ahead to buy Activision; prompts excitement for further deal making. Impressive demand for 3-year note auction US stocks rose as bond yields remained capped as Wall Street looks like it is ready to move beyond a pivotal inflation report that should suggest interest rates will stay higher for longer. Headline CPI might fall to 2.9% and co

11-07-2023 16:10 GMT by Edward Moya

Gold - Edging higher ahead of the US inflation report

Gold appears to have found some support again in recent days after rebounding twice around $1,900. The US jobs report was one possible risk event that could have triggered a big move in gold, one way or another, and the other is due tomorrow in the shape of the US inflation report. It seems gold bulls are feeling a little more confident, although $1,940 still poses a test having been a notable area of support in late May and the first half of June. Gold Source - OANDA on Trading View We could j

11-07-2023 10:08 GMT by Craig Erlam

Brent Crude - Oil steadies after hitting one-month high

Brent hits one-month high Saudi and Russian cuts supporting recent moves Major barriers of resistance above Oil prices are a little flat today after paring earlier gains. Brent hit a one-month high on Monday after breaking above the 21 June peak, bringing an end to a series of lower highs that had contributed to the consolidation we've seen in recent months. While it is still trading around the range highs since early May, the break of the recent high could be viewed as a bullish step that coul

11-07-2023 09:50 GMT by Craig Erlam

Resilient gold is supported by geopolitical risk

Historical tightly inverse correlation between gold (XAU/USD) and US Treasury 10-year real yield (TIPS) has started to wane in the past four weeks. An uptick in geopolitical risk may be the factor that is supporting a resilient movement in gold despite higher 10-year TIPS. Watch the US$1,940 key intermediate resistance on gold (XAU/USD) for a potential bullish breakout. In the past week, a higher momentum movement is seen in longer-term sovereign yields over their shorter-term durations where t

11-07-2023 06:01 GMT by Kelvin Wong

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