Global Economics Update OPEC agreement not such a big deal for the world economy Global oil prices jumped as much as 19% this week as OPEC finalised an agreement to cut production. However, this is not as big a deal as the headlines imply. Prices are only a little higher than they... 2nd December 2016 · 1 min read
Precious Metals Update Palladium market to continue to tighten in 2017 The performances of the three main platinum group metals (PGMs) – platinum, palladium and rhodium – have diverged sharply over the past few months. Palladium has seen the biggest gains in the year-to... 2nd December 2016 · 1 min read
Commodities Chart Pack Markets focus on the Trump positives Following the victory for Donald Trump in the US presidential election, commodity markets chose to focus on his promise of a large fiscal stimulus, including a substantial increase in infrastructure... 1st December 2016 · 1 min read
Metals Watch What’s next for zinc prices? Over the past year, zinc prices have rallied strongly, reaching a nine-year high recently, on the back of mine closures and production cuts. While the refined market will continue to tighten through... 30th November 2016 · 1 min read
OPEC Watch OPEC confirms Algiers deal, but real test still to come OPEC’s agreement to cut production by 1.2m bpd, in line with the provisional deal made in Algiers at the end of September, was more ambitious than the market (and we) had expected. However, the focus... 30th November 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Lower net imports of crude oil appeared to be the main driver of the draw on crude oil inventories as demand from refineries actually fell last week. 30th November 2016 · 1 min read
Industrial Metals Update Stocks continue to dwindle It has been a quiet month for stock movements, with the exception of copper. However, the drop in LME copper stocks and surge in Shanghai inventories can be largely explained by price arbitrage... 29th November 2016 · 1 min read
Energy Update OPEC deal looks even more perilous Oil prices have been buffeted over the last week by hopes and concerns about the outcome of tomorrow’s OPEC meeting, but we still think that the group will manage to reach a face-saving deal. 29th November 2016 · 1 min read
Latin America Data Response Colombia GDP (Q3) The sharp slowdown in Colombian GDP growth, to just 1.2% y/y in Q3 from 2.0% y/y in Q2, was due in part to the effects of a truck drivers’ strike. With the dispute having now ended, Q3 may prove to be... 25th November 2016 · 1 min read
Commodities Weekly Oil market in wait-and-see mode The prices of industrial metals surged again this week, in large part due to investor buying. In contrast, the price of gold fell further as the dollar appreciated and the minutes of the November FOMC... 25th November 2016 · 1 min read
Industrial Metals Update Weakness in China’s metals imports could prove temporary China’s metals imports remained subdued in October as higher dollar prices and some further depreciation of the renminbi weighed on volumes. 25th November 2016 · 1 min read
Energy Update Growing oil demand quietly rebalancing the market The focus of oil markets over the last few months has been squarely on the potential for OPEC to cut supply. However, growth in demand will have just as big an impact on oil prices over the next year... 24th November 2016 · 1 min read
Metals Data Response China and India’s gold imports (Oct.) The latest import data out of China and India show a mixed picture for gold demand in the two largest consumers. China’s appetite for the metal appears to have faltered in recent months. In contrast... 24th November 2016 · 1 min read
India Chart Pack Anti-corruption drive has further to run The government’s shock demonetisation announcement earlier this month was its boldest measure yet to tackle corruption and formalise large parts of the shadow economy, but it is unlikely to be the... 24th November 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report A slump in net imports of crude oil and another jump in demand from refineries helped to drag down crude inventories last week. 23rd November 2016 · 1 min read
Global Markets Update Is EM FX intervention a threat to US Treasuries? More emerging market (EM) central banks may step in to support their currencies by selling reserve assets if risk appetite takes another turn for the worse. But unless China is forced into aggressive... 23rd November 2016 · 1 min read
