Commodities Update Anaemic Chinese import growth weighs on prices China’s trade data for April go some way to explaining the generally weak tone of agricultural commodities prices. For the most part, import volumes were lower in year-on-year terms, in some cases... 29th May 2015 · 1 min read
Precious Metals Update End of bull market in Chinese equities would help gold The lure of a soaring stock market has surely dampened Chinese investors’ demand for gold. Correspondingly, even though we are not predicting an imminent crash, the precious metal should benefit when... 29th May 2015 · 1 min read
Asia Economics Update Asian currencies fall, bond yields rise Most currencies sold off against the US dollar in May. Meanwhile, the region’s bond markets have settled down in recent weeks, after being briefly caught up in the global bond market sell-off earlier... 29th May 2015 · 1 min read
Metals Watch Are low tin prices justified? Base metals prices have struggled since the start of this year, but many have still managed to make modest gains. In contrast, tin prices have fallen. In this Metals & Mining Watch , we discuss the... 29th May 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Today’s US data provide mixed signals, with stocks of crude oil falling and demand from refineries increasing, but production rising sharply. 28th May 2015 · 1 min read
Metals Data Response China’s gold imports (Apr.) A fall in mainland China’s gold imports from Hong Kong in April has been more than offset by higher imports of the metal by India. Hence, we believe fears of a slowdown in demand from key emerging... 28th May 2015 · 1 min read
Energy Update Environmental concerns to drag down coal but boost gas prices Environmental issues are becoming increasingly important drivers of demand for, and supply of, all types of energy commodities. We continue to expect demand for coal to be most negatively impacted... 28th May 2015 · 1 min read
Metals Watch Silver price to rally as market falls into deficit After several years of declines, we believe 2015 could be a turning point for the silver price. Lower mine supply, coupled with an increase in demand for jewellery and industrial applications, should... 28th May 2015 · 1 min read
UK Economics Update Slowdown in spending in Q1 won’t be long-lasting Whilst the second estimate of Q1 GDP confirmed that household spending growth slowed a touch at the start of the year, rising nominal wages, falling unemployment and the boost from lower food and... 28th May 2015 · 1 min read
Energy Watch OPEC likely to hold fast next week The next meeting of the Organisation of the Petroleum Exporting Countries (OPEC), on 5 th June, is set to be almost as closely watched as the previous one in November. The recent rebound in oil prices... 27th May 2015 · 1 min read
Global Markets Update Renewed dollar strength has further to go Diverging prospects for economic growth and monetary policy point to additional gains for the dollar this year, especially against the euro and the yen. The real possibility that Greece will be the... 27th May 2015 · 1 min read
Japan Economics Update Butter meltdown highlights policy failures Japan’s butter shortage is the result of agricultural policy failures. It should strengthen the argument that agreement to scale back protectionist measures in the ongoing talks on the Trans-Pacific... 27th May 2015 · 1 min read
Industrial Metals Update The devil is in the detail of Chinese trade China’s detailed trade data for April paint a broadly positive picture of industrial metals demand. Meanwhile, the export surge associated with the Qingdao port scandal, as stocks were moved into more... 26th May 2015 · 1 min read
Commodities Weekly Fed back in focus as US inflation picks up The past week has been a good one for commodity prices, with most recording at least a small increase. Adverse growing conditions boosted the prices of coffee and wheat, while silver again... 22nd May 2015 · 1 min read
Precious Metals Update Platinum and palladium markets to remain tight We believe that platinum and palladium markets will be significantly tighter than the consensus currently anticipates in 2015. This should lead to further price rises in the second half of the year. 21st May 2015 · 1 min read
Middle East & North Africa Economics Update Recovery in oil prices doesn’t alter outlook for region’s oil producers The steady recovery in oil prices over the past couple of months will clearly be welcomed by the MENA region’s oil producers and provides some encouragement for the Gulf countries that their oil... 21st May 2015 · 1 min read
