Market Pulse - Commodities
Wednesday preview: US FOMC, British American Tobacco in the spotlight
All eyes on Wednesday will be on the results of the US Federal Open Market Committee's two-day meeting.
Natural gas futures jump as Gazprom cuts gas supplies through Nordstream 1 again
Gazprom will halt one of the two remaining turbines that power the Nordstream 1 gas pipeline's compressor station, in a move that is expected to further reduce volumes shipped to Germany.
Wheat futures drop sharply after Kyiv and Moscow ink deal to restart grain exports
Wheat futures extended their recent declines after Russia and Ukraine penned an agreement to unblock exports of millions of tons of Ukrainian wheat through the latter's ports on the Black Sea.
If you buy now you'll pay later, BofA says
A "credible bull market" will require equally credible interest rate cuts by the Federal Reserve once inflation has been "conquered", BofA Securities said.
Geographical scope of military operations will change if Kyiv gets long-range weaponry, Lavrov says
The geographical scope of Moscow's 'special military operation' will expand even further beyond the current front line if the West supplies Kyiv with long-range weaponry, Russia's foreign minister said.
BofA stays at 'buy' on Anglo Pacific Group as pivot towards 'future facing commodities' continues
Analysts at BofA Securities reiterated their 'buy' rating for shares of Anglo Pacific Group, telling clients that its recent acquisition of four royalties from South32 reflected its pivot away from coal towards electrification metals.
Chinese producer price inflation eases in June, but CPI gains accelerate
Factory gate inflation in the People's Republic of China cooled last month, but continued accelerating at the consumer level.
US non-farm payrolls growth slows to 372,000 in June
US non-farm payrolls growth slowed to 372,000 during the month of June. , although some economists noted that an alternate measure of labour demand contained within the same report came in much softer.
Too soon to position aggressively for interest rate cuts, BofA says
Strategists at BofA Securities highlighted the recent "big rotation" into technology issues, those of the biotechnology sector in particular.
Berenberg downgrades Rio Tinto to 'sell', expects downside surprise in 1H results
Analysts at Berenberg downgraded their rating on shares of Rio Tinto from 'hold' to 'sell', telling clients that they believed there was more downside in the shares.
Shell moves to derecognise Sakhalin-2 LNG volumes
Shell guided towards lower second quarter liquid natural gas liquefaction volumes after Russia moved to take over the Sakhalin-2 gas and oil project in the country's Far East.
Fears of Europe energy shock could weigh on euro
The European single currency may remain weak in the near-term due to concerns about soaring energy prices in Europe.
European natural gas prices spike as Equinor workers strike
European natural gas prices were on the rise again after workers at Norway's Equinor initiated a strike action overnight.
Berenberg still in 'sell the rally mode', recommends stagflation hedge strategy
Equity strategists at Berenberg recommended investors stick with a stagflation hedge strategy.
Biden administration said to be mulling partial roll back of US trade tariffs on China
The Biden administration is expected to announce a partial roll back of US trade tariffs on Chinese goods exports as soon as this week.
JP Morgan stays overweight on Glencore, sees China macro alignment for 2H 2022 outperformance
Analysts at JP Morgan sounded a bullish note on the outlook for European Middle East and Africa miners in the back half of 2022.