Despite the slower pace of appreciation against the dollar in recent weeks, the renminbi is still likely to rise significantly more than the 5% or so priced into the forwards markets for the next 12...

Contrary to the conventional wisdom, the absence of a build-up of crude oil inventories does not rule out the possibility that speculation has been helping to drive up oil prices.

The media is again full of speculation that the Gulf Cooperation Council (GCC) countries are about to revalue their currencies against the dollar, or drop their pegs completely in favour of a currency...

The recent pick-up in gold prices has failed to impress. We continue to expect prices to drop back to around $700/oz within a year or so.