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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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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
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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
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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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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
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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
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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
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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
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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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OPEC+ not as unified as it appears
Oil pares gains as traders question OPEC+ unity The Saudis got their output cut after intense negotiations over the weekend; the only downside being that no one else opted to be a part of it until the start of 2024. It became clear last week that Saudi Arabia was going to be pushing for a cut at the weekend meeting and that getting others on board may prove difficult.
05-06-2023 12:10 GMT by Craig Erlam
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Week Ahead - Will OPEC+ announce another cut? Deflationary spiral in China?
Oil prices are rallying at the end of the week, perhaps a sign of nerves appearing before the OPEC+ meeting this weekend. While there seems to be a widely held view that the group won't announce any further cuts, it's worth noting that the same was true at the last meeting when it announced cuts of roughly another million barrels.
02-06-2023 12:22 GMT by Craig Erlam
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Energy traders afraid to be short heading into OPEC weekend meeting
JMMC and OPEC+ ministerial meeting  on Sunday June 4th Gold's weekly gain hurt as traders price in one more hike Bitcoin holds onto $27,000 for now Oil Crude prices are having a strong finish to the week after the US jobs report showed the economy is not ready to head into a recession. ​ Oil was heavier throughout the earlier part of the week on disappointing Chinese data and expectations that OPEC+ would not be able to deliver more production cuts despite the Saudi warning to short-sellers. ​
02-06-2023 11:34 GMT by Edward Moya
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Oil edges higher ahead of OPEC, gold eyes nonfarm payrolls
Oil edges higher ahead of OPEC+ meeting this weekend Oil prices are edging higher into the end of the week, perhaps a sign of nerves appearing before the OPEC+ meeting this weekend. While there seems to be a widely held view that the group won't announce any further cuts, it's worth noting that the same was true at the last meeting and then the group announced cuts of roughly another million barrels. And while there have been comments to suggest the alliance isn't likely to cut output this weeke
02-06-2023 08:25 GMT by Craig Erlam
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Oil pares losses, gold eyes nonfarm payrolls
Oil tests lows as traders not deterred by Saudi warnings Oil prices have rebounded off their lows today, having at one stage come very close to the bottom seen in March and May. It's a very interesting development coming just before OPEC+ meets this weekend and following warnings from the Saudi energy minister to "watch out". Of course, oil traders can argue that the Chinese economic rebound has stalled, manufacturing activity around the world is struggling, Germany is in recession and the US ma
01-06-2023 12:03 GMT by Craig Erlam
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Oil finds support, Gold rallies into NFP, Bitcoin struggles
Gasoline fell on a weekly basis but increased by 1.3% with the 4-week average US crude inventories hit highest levels since May 12th Gold eyes $2000 level ahead of NFP Oil Crude prices were initially lower after a surprising large build was followed by a global round of disappointing manufacturing data that did not do any favors for the demand outlook. Energy traders are not sure what to expect with the upcoming OPEC+ weekend meeting. ​ Trying to get a read on what Russia will do at the upcomin
01-06-2023 11:47 GMT by Edward Moya
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Podcast - Rising Fed rate hike expectations
OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss today's debt ceiling vote, a hot JOLTS report, China's PMI report, and Australia's sticky inflation data. **Note this was recorded before Fed's Jefferson comment about pausing at the next meeting.
31-05-2023 16:09 GMT by Edward Moya
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