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.

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

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

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