EM Markets Chart Pack Sun to continue shining on EM equities Emerging market equities have delivered strong returns in the past month, outperforming their developed market counterparts. A confluence of factors is probably responsible. This includes signs of... 17th April 2015 · 1 min read
OPEC Watch OPEC production boosted by record Saudi output Last month’s increase in supply from OPEC just adds to the glut of oil already in the market. And although the cartel has also boosted its demand estimates for this year, global supply should still be... 16th April 2015 · 1 min read
Energy Chart Pack Ups and downs in the Middle East drive oil prices The biggest news in the energy market over the last month has undoubtedly been the rebound in oil prices, which came despite the announcement of a preliminary deal between Iran and the West. However... 16th April 2015 · 1 min read
Precious Metals Update Dollar strength alone is a poor reason to dismiss gold A common response to our positive view on gold is that the precious metal is bound to struggle in an environment of dollar strength, especially if this strength is due to increases in US interest... 15th April 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Today’s data add to evidence that US oil production may be slowing more quickly than the market had anticipated. Coupled with further signs of a revival in demand this should support prices in the... 15th April 2015 · 1 min read
Industrial Metals Update Can the rally in lead prices be sustained? The boost to lead prices from the recent squeeze on stock availability may prove temporary. That said, it has exposed the underlying tightness in the market which should be a key factor supporting... 15th April 2015 · 1 min read
Commodities Update Four and a half reasons not to worry about China’s slowdown The relative weakness of China’s Q1 GDP and March activity data has reinforced concerns about the impact of softer demand on global commodity markets. But in contrast to the consensus, we remain... 15th April 2015 · 1 min read
Commodities Update Weaker dollar provides a breather Commodity prices have generally risen since the middle of March, supported by a slightly weaker dollar. However, concerns about Chinese demand have weighed on the prices of some commodities... 14th April 2015 · 1 min read
Europe Data Response Euro-zone Industrial Production (Feb.) February’s strong rise in euro-zone industrial production suggested that industry is starting to feel the benefits of a weaker euro and a lower oil price. 14th April 2015 · 1 min read
Commodities Update China’s commodity import volumes bounce back in March China’s commodity import volumes rose in March, admittedly from a low base in February. However, lower prices appear to be encouraging purchases and we expect volumes to remain higher in Q2. 13th April 2015 · 1 min read
Europe Data Response Italian Industrial Production (Feb.) February’s Italian industrial production data added to signs that the long recession may finally be coming to an end. But the recovery still looks surprisingly slow given the boost provided by falls... 13th April 2015 · 1 min read
Commodities Weekly Oil shrugs off Iran deal A preliminary deal between Iran and the West saw oil prices fall sharply early this week, but they quickly rebounded as it became apparent that the return of Iranian oil exports would be delayed until... 10th April 2015 · 1 min read
Commodities Update More bad news for grain & soybean prices The USDA’s latest set of estimates suggest that the global glut of grain and soybeans will be evenlarger. With ample supplies and high stocks, we continue to expect the prices of corn, wheat... 10th April 2015 · 1 min read
Europe Economics Weekly Oil and euro boosts to growth will fade next year We have revised our forecasts for euro-zone GDP growth higher to reflect the positive effects of lower oil prices and the decline in the euro. But growth could slow again next year as those positive... 10th April 2015 · 1 min read
Metals Chart Pack Metals prices searching for direction The GSCI industrial metals index has risen slightly since the end of February, but there have been some large price moves in individual metals. The lack of clarity on China’s future demand appears to... 10th April 2015 · 1 min read
Energy Update Oil spreads to continue narrowing The spread between the price of Brent and the price of the US benchmark oil, WTI, should continue to narrow over the next few years as the glut of crude which has been built up in the US recedes. 10th April 2015 · 1 min read
