Market Pulse - Commodities
Commodities: Oil futures recoup losses, base metals head lower
Oil futures recouped losses late on Thursday, while base metals saw lacklustre trading in Europe.
Key components of EM cycle turning more favourable, Credit Suisse says
Greater stability in global capital markets led Credit Suisse to add to its allocation to emerging market assets from those countries considered to be more 'value' stories instead of 'growth'.
BP and CNPC sign shale gas production sharing contract
London-listed oil giant BP and China National Petroleum Corporation (CNPC) have signed a production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China.
Commodities: Weak tone in commodities outside of energy
Trading in the commodity complex had a slightly weak tone to it on Wednesday, with the exception of the energy patch, ahead of Friday´s US jobs report, which might heavily influence rate hike bets Stateside.
Barclays sees risk of commodity price declines due to poor fundamentals
The lack of improvement in the fundamental drivers of the commodity market meant it was exposed to the risk of a rush to the exits by investors in the second quarter of 2016, a top-rated broker said.
Commodities: US dollar strength weighs on crude oil, gold futures
Commodities came under pressure again at the end of last week as the greenback extended its gains into a fifth session, with Bloomberg's spot dollar index finishing slightly higher last Thursday at 96. 142 points.
Week ahead: US jobs report, global manufacturing PMIs in focus
Investors would be well advised to get some rest over the Easter break, as they will be greeted by an avalanche of first-tier economic data from around the globe upon their return.
StanChart shares plummet on read-across after ANZ warning
StanChart shares fell steeply in afternoon trading on Thursday, with market commentary referencing bearish guidance overnight from its rival Down Under for its commodities-related provisions, Australia&New Zealand Banking Corp. and a drop in oil prices.
Brazil needs deep reforms, El-Erian says
Brazil has great potential but needs a political environment that allows the country to make a sustained push for economic reforms, according to one of the most well-regarded economic commentators.
Commodities: Rising dollar sinks all boats
Hawkish Fedspeak, a rising US dollar and data showing a very large jump in US oil inventories during the latest reference week took the wind out of commodity prices on Wednesday.
Sector movers: Miners buried under by rising US dollar
Miners sank to the bottom of the pile on Wednesday continued more hawkish Fedspeak weighed on commodity prices amid lower than usual trading volumes ahead of Easter.
IEA dismisses Russia-Opec oil deal as largely 'meaningless'
Oil prices dropped on Wednesday after the International Energy Agency admitted the effect of a deal among some Opec producers and Russia to freeze production could be "meaningless".
Commodities: Oil futures recoup part of previous session´s losses
Commodity markets were little changed at the start of the holiday-shortened trading week on Monday, although the results of a survey published on 18 March showing an up-tick in US oil sector activity continued to be a 'talking point' in markets.
Short covering drives gain in net longs in oil futures, CFTC data shows
Hedge funds and other speculators covered their ´short´positions in crude oil futures and options Stateside last week, which analysts said at least in the very short-term might be a cautious endorsement of the staying power of recent gains in oil prices.
Deutsche Bank sees upside to European stocks, warns of unstable equilibrium
Dovish guidance from the US Federal Reserve reduces the risk that sovereign bond yields will rise in 'real' terms, which in turn should support European equities, including the likes of Rio Tinto, but tensions in credit markets and other segments of global capital markets could resurface in the second half of 2016, strategists at Deutsche Bank said.
Commodities: Silver shines brightest after Fed decision
A downdraft in the US greenback following the Fed’s lowered interest rate projections overnight saw the Bloomberg Commodity index snap 2. 02% higher to 163. 75 as of 18:24GMT.
Commodities: Gold, crude oil futures gain in wake of Fed meeting
News that a meeting between several of the world's major oil producers to decide upon a freeze in output would indeed go forward stoked buying interest in crude oil futures.
US weekly oil inventories rise by less than analysts expected
US oil inventories increased slightly last week but product stockpiles declined, putting added upward pressure on crude futures on Wednesday afternoon.
Commodities: Crude oil, iron ore futures retreat ahead of Fed meeting
Commodities were unloved on Tuesday as risk aversion set in ahead of the US central bank policy meeting on the next day and after a negative market reaction to the latest decision and outlook from Japan's rate-setters.
Commodities: Oil retreats alongside losses for iron ore, agricultural futures well bid
Oil futures led the way lower on Monday after Iran said over the weekend it would not support an agreement by several of the world’s top producers to freeze their oil output until his country’s production had first recovered to 4m barrels a day.