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.

NFP React: Stocks rise on strong jobs report and slowing wage pressures, ISM Services contract, oil rises, gold higher as Fed hiking job almost done, crypto pares losses

US stocks initially rallied after the NFP report showed the labor market remains strong and as wage price spiral risks are easing. The Fed will stay on their tightening course but risks of more hikes in the Spring are easing as optimism is growing that wage pressures will continue to drop. Stocks are getting a boost here as Fed rate hike bets get slashed, but earnings risks should keep the gains somewhat limited. The focus will shift to next week’s inflation report and traders should not be sur

06-01-2023 10:15 GMT by Edward Moya

Oil inches higher, gold eyes NFP

Steadying after a rough week Oil prices are creeping higher again this morning after steadying on Thursday. They came under some pressure over the previous 48 hours amid concerns about China's economy over the next quarter or two.

06-01-2023 07:32 GMT by Craig Erlam

Oil rebounds, gold falls as pressure remains on Fed

Oil Crude prices were due for a rebound after one the worst starts of a year. It’s been a few decades since oil had this bad of a start and energy traders jumped all over the news that the Colonial Pipeline had to halt operations after a leak occurred.

05-01-2023 15:38 GMT by Edward Moya

Oil pares losses, gold eyes NFP

A rough couple of days Oil is slightly higher on Thursday, paring losses from the last couple of days. Prices fell almost 10% over the last couple of days as China's efforts to rapidly transition away from its zero-Covid campaign led to a powerful surge in cases, threatening to disrupt activity in the opening months of the year. While most would agree that the move should lead to higher, more sustainable growth later in the year, the near-term outlook is clouded by the transition.

05-01-2023 10:32 GMT by Craig Erlam

Gold - A strong start to the year

OANDA Senior Market Analyst Craig Erlam discusses gold's start to the year and what it will take for it to be maintained.

05-01-2023 10:01 GMT by Craig Erlam

Oil slides again, gold grooves on

Oil Oil is extending declines on concerns that China’s struggles with COVID are not going away anytime soon and as the global economic worries persist as central banks take rates into very restrictive territory. Crude is not getting extra demand this winter as warm weather spans across the US and Europe. Despite all this oil price weakness, the technicals, specifically driven by the Biden administration's intention to buy up crude at around the $70 level to refill the strategic petroleum r

04-01-2023 13:41 GMT by Edward Moya

Oil takes a hit, gold extends rally

Slide continues amid uncertain China outlook Oil prices have tumbled again today, hit it seems by the uncertain near-term economic prospects for China amid surging Covid cases. While reliable data is seemingly hard to come by, the view appears to be that there'll be significant disruption in the coming months and then a recovery from around the middle of the year which should then boost demand. Brent has now slipped back below $80 a barrel while WTI has fallen below $75, with both now only aroun

04-01-2023 09:10 GMT by Craig Erlam

Oil struggles, gold’s great start

Oil Oil prices are tumbling as risk aversion sends the dollar higher and dampens expectations that the crude demand outlook will improve anytime soon. China’s reopening has too many question marks as hospitals are overwhelmed and medical supplies run low. Crude prices could struggle here as a strong dollar could be here to stay as investors can’t pass up the yield they are getting in fixed income. Manufacturing activity globally mostly appears to be stuck in contraction territory and that mi

03-01-2023 14:58 GMT by Edward Moya

Oil continues to rise, gold rallies

Oil recovery continues Oil prices are a little higher this morning as they continue to rebound strongly from their lows. Brent and WTI have recovered almost 15% from the lows a few weeks ago as traders continue to price in stronger Chinese demand.

03-01-2023 04:03 GMT by Craig Erlam

Oil bouncing back, gold pushing on, bitcoin steady

Risks tilted to the upside? Oil markets are bouncing back in another volatile session at the end of the year. Going into 2023, the risks are arguably tilted to the upside, although that has been the narrative for much of the year and yet we're on course to end it not far from where we started. While producers have finally caught up with post-pandemic demand, other risks remain next year, notably Russian output amid the new price cap and its threats to cut output and not supply any countries ab

30-12-2022 12:18 GMT by Craig Erlam

Oil falls, gold range-trading

Paring gains again Oil prices are dropping for a second day, erasing some more of the pre-Christmas rally amid uncertainty over the Chinese outlook and the limited impact of Russia's response to the G7 price cap. Volatility is likely going nowhere fast as we navigate another highly uncertain year, albeit one that surely promises plenty of surprises and twists and turns along the way. The US refilling the SPR should be supportive for the market and could have put a bit of a floor in place, althou

29-12-2022 06:51 GMT by Craig Erlam

Still drifting

We continue to drift into year-end with investors having little to cling onto that's going to drive markets one way or another. That is so often the case this time of year and while 2022 could have been different, given how chaotic the rest of the year has been, it has proven to not be the case. Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe.

29-12-2022 06:48 GMT by Craig Erlam

Week Ahead - Happy Holidays!

US Thin trading conditions could persist as much of Wall Street will be taking off this week. While trading volumes might be lower it will be a week filled with lots of economic readings. There will be no earnings and no Fed speak. On Monday, US markets will be closed to observe the Christmas holiday. Tuesday contains several economic releases that are expected to show the economy is weakening. Wholesale inventories in November are expected to increase at a slower pace, both the October

23-12-2022 12:05 GMT by Edward Moya

Mid-Market Update: Mixed Economic Data keeps stocks volatile, Oil rallies as Russia hints at output cut, Gold rallies, Cryptos edge higher

US stocks pared earlier losses as traders digest a wide range of mixed economic data that overall supports the story that inflation is coming down. Wall Street had a tale of two rounds of economic readings. The first wave, before the opening bell showed CAPEX is weakening and softer consumer demand. The second round of data was rather upbeat as consumer sentiment improved and inflation expectations dropped even further. New Home Sales also unexpectedly improved, but no one is betting that th

23-12-2022 11:06 GMT by Edward Moya

US Close: bye-bye Santa rally, grinch selloff is here to stay, US data, Micron gloom, oil wavers, gold drops, cryptos lower

The Grinch selloff is firmly in place after Micron delivered a gloomy outlook and as better-than-expected US economic data supported the Fed's case for more ongoing rate increases. Global coordinated central bank tightening has yet to fully impact most of the economic readings for the major economies and that should have investors nervous over earnings downgrades and credit risks. US data Following another round of economic data, the US economy doesn’t look like it wants to head into a reces

22-12-2022 14:01 GMT by Edward Moya

Oil rallies, gold wavers

Oil Crude prices are rallying after stockpiles declined more than expected and as OPEC+ remains committed to keeping supplies tight. The EIA report showed that crude, gasoline, and distillate demand improved from the prior week.

21-12-2022 13:00 GMT by Edward Moya

Oil rises, gold shines

Oil Crude prices got an unexpected boost from a surprising Bank of Japan decision to shift their policy which sent the dollar tumbling. Oil should be higher, but China’s COVID surge has energy traders refraining from betting on a quick complete reopening.

20-12-2022 12:34 GMT by Edward Moya

Musk out, German IFO survey, homebuilder sentiment, oil edges higher, gold wavers, cryptos lower

US stocks were unable to hold onto gains as recession worries run wild and as global bond yields surge higher after former Fed’s Dudley pushed back on expectations that the Fed will blink once the unemployment rate starts to climb higher. Also supporting the move higher in yields was the surge with gilt yields as investors unload the holdings of UK debt ahead of the BOE’s January bond sales.

19-12-2022 14:37 GMT by Edward Moya

US Open: Stocks lower as economy weakens, US data, Goldman layoffs, oil slumps, gold’s bad week, crypto audits

US stocks are declining as investors can’t shake off all the hawkish rhetoric that came from central bankers this week and as the private sector clearly entered a strong downturn. Monetary policy has quickly gotten restrictive now that the Fed has raised rates by 400 basis points in 9 months. Recession risks will only grow now that Powell has signaled that we should expect ‘ongoing increases’. Global bond yields are rising after central banks delivered another round of tightening and mostly si

16-12-2022 10:55 GMT by Edward Moya

Oil under pressure, Fed weighs on gold

Can WTI break $70? Oil prices are slipping once more in volatile trade. There are so many driving forces in the oil market at the moment and a more sombre economic outlook on the back of the hawkish central bank message this week appears to be the dominant one going into the weekend. The interesting thing for me remains how prices respond to the December lows, should they be tested again, with the level in WTI also representing the point at which the White House has indicated it will start refil

16-12-2022 07:31 GMT by Craig Erlam

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