Market Pulse - Commodities
Commodities: Oil, metal futures up as market bounces back
Oil benchmarks continued to make gains on Friday, following their biggest single session rise since 2009 overnight, as equities market fluctuations eased with the weekend approaching.
Sector Movers: Miners, oil stocks get breathing room as commodities recover
Uptick in mining, metals and oil and gas stocks pulled the London market higher on Thursday, as China’s stimulus and positive US data lifted sentiment.
Commodities: Oil rallies, metals recover on US GDP uptick
Base metal and oil futures recovered on Thursday following improved US data and China’s move to stimulate its economy.
Commodities: Gold joins wider selloff, oil futures stay low
Gold joined the wider commodities market selloff on Wednesday, as safe haven demand declined on receding prospects of a US interest rate hike in September and calm returning to global equities market.
Fitch sees medium-term risks from China slowdown
Financial markets were probably being too pessimistic on the short-term outlook for the Chinese economy but there were medium-term risks, one of the world´s largest ratings agencies said on Wednesday.
Citi cuts forecasts for aluminium and copper, but positive on miners
The longer-term outlook for miners continues to be highly uncertain but simply attaining “macro stability” should see the sector re-rate upwards, analysts from one of the world´s largest brokers said.
Commodities: Base metals, oil on recovery run after ‘Black Monday’
Oil benchmarks and base metals recovered on Tuesday, following massive declines noted over ‘Black Monday’, as Chinese equities continued to slide.
Commodities: Black Monday pummels base metal, oil futures
Much of the commodities futures market took a beating after China’s dire ‘Black Monday’ dominated Asian trading, as the Shanghai Composite Index closed down 8. 5%, triggering widespread declines in European and US equities.
Commodities: Brent tests $45-level as oil futures plummet, gold rallies
Oil markets took a battering on Friday, as Chinese data further exacerbated bearish sentiment, while gold rallied on safe haven even though rest of the precious metals market plummeted.
Commodity price slump not only reflects economic weakness
The recent sharp drop in commodity prices is not a reliable sign of broader economic weakness, some analysts claimed.
Commodities: Oil stays firmly bearish, base metals claw back losses
Oil markets were firmly in negative territory on Thursday, while base metals recovered from the previous session’s losses with gold continuing its upward march.
Commodities: Precious metals up but oil stays on negative patch
Precious metals rose in European trading on Wednesday, while oil benchmarks continued in negative territory on a mixed day for the wider commodities market.
FX Roundup: Euro strengthens on German vote, dollar eases
The euro strengthened in early afternoon forex trading on Wednesday after the German parliament voted in favour of a third bailout for Greece, removing the last major obstacle to European Union approval of the €86bn package.
Commodities: Copper futures pummelled in Europe, oil slides again
Copper futures fell to fresh six-year lows on Tuesday, during a dire session for the base metals market, while oil continued to slide on persistent concerns about the direction of China’s commodities import volumes.
FX Roundup: Pound rises as CPI data fuels UK interest rate hike expectation
The pound sterling rose for a second successive session on Tuesday, with the spike being more pronounced and against a broader basket of currencies, as the UK inflation rate turned positive increasing the likelihood of an interest rate rise.
Commodities: Oil, base metals remain negative in Europe, gold recovers
Oil futures remained in negative territory on Monday, with Brent’s October contract beginning weekly proceedings below $50, while base metal futures also traded lower.
Commodities: Oil and gold remain lacklustre as base metals recover
Oil and gold futures remained broadly in the range of the previous session’s levels in European trading on Friday, as base metal futures staged a minor recovery.
Commodities: Oil slips again, base metals and agricultural futures up
Oil benchmarks declined in European trading on Thursday, while metal and agricultural futures had a calmer session after China reset its guiding rate for the yuan lower for a third consecutive day, cutting the reference point further by 1%.
Commodities: Gold, oil strengthen but corn futures plunge on USDA data
Gold futures stayed well above the $1,100 an ounce level on Wednesday, as corn futures tumbled on US data and another currency devaluation by China in as many sessions hammered selected base metal contracts.
Commodities: Oil remains negative in Europe, corn futures cool off
Oil futures remained negative on Tuesday, as Brent’s return above the $50 per barrel level overnight proved to be short-lived, while corn futures turned sharply lower tempering an overnight spike of above 4%, and base metals remained in the red.