Global Economics Update Renewed slide in oil prices not (yet) a game-changer The declines in the cost of crude oil since May have revived concerns about global growth and deflation risks. However, the falls mainly reflect positive supply-side developments and are also small... 10th August 2015 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Jul.) Data released earlier today by Malaysia’s Palm Oil Board show that crude palm oil production in July reached its highest monthly level since October last year. Stocks also rose sharply, adding to... 10th August 2015 · 1 min read
Commodities Update China’s commodity import volumes hold up well China’s commodity import volumes were generally strong in July, for the second consecutive month. Although low prices probably encouraged buying, it is also likely that government stimulus is starting... 10th August 2015 · 1 min read
Emerging Markets Economics Update Winners and losers from the latest commodity collapse Of the major EMs, the biggest losers from the most recent fall in commodity prices have been Russia, Nigeria and Colombia, while the biggest winners have been Korea, India and Thailand. A similar... 7th August 2015 · 1 min read
Commodities Update Corn prices to fall, despite lower EU harvest Despite a large downgrade to the outlook for the EU’s 2015 corn harvest, global supplies and stocks are likely to remain high. As such, we think the price of corn will fall further this year. 7th August 2015 · 1 min read
Energy Chart Pack Oil slides back down July was a tough month for energy commodities with oil and coal prices slumping again as worries about demand, prompted by the drop in the Chinese equity market, and signs of improving supply weighed... 7th August 2015 · 1 min read
Metals Watch Solid fundamentals should support lead prices By setting a lower mid-point for the renminbi’s trading band the People’s Bank has sparked speculation that it is embarking on a competitive devaluation of the currency in order to shore up exports... 7th August 2015 · 1 min read
Precious Metals Update Currency depreciation won’t help producers much longer Depreciating producer currencies have played a major role in cushioning mining companies’ margins in recent years. However, with the prices of most precious metals below production costs even in local... 7th August 2015 · 1 min read
Middle East & North Africa Economics Update What to make of Saudi Arabia’s return to the bond market? Media reports suggesting that the Saudi central bank will issue bonds in greater volumes over the rest of this year have raised fresh concerns about the government’s seemingly relaxed response to the... 6th August 2015 · 1 min read
Commodities Update Weak demand to push soybean prices lower The continued fall in China’s pig herd is likely to undermine soybean demand growth over the second half of the year. Coupled with ample supplies, we think soybean prices will end the year lower. 6th August 2015 · 1 min read
Latin America Economics Update Crisis deepens in Brazil The economic and political troubles facing Brazil have deepened over the past few weeks. The good news is that we think the big falls in the prices of the country’s commodity exports are probably now... 6th August 2015 · 1 min read
Emerging Markets Economics Update Emerging Market Consumer Snapshot (Q3 2015) The falls in commodity prices over the past year have caused consumer spending to slow in many commodity-exporting countries, with Russia and Brazil being hit particularly hard. Only consumers in... 6th August 2015 · 1 min read
Metals Data Response World Gold Official Reserves (Jun.) Buying by global central banks picked up pace in June, with Russia once again particularly active. Going forward, we expect further official purchases to be one of several factors supporting the price... 6th August 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks fell again last week as refinery runs surged and imports fell slightly. But production rebounded slightly and stocks of gasoline rose. 6th August 2015 · 1 min read
Commodities Update Investor sentiment wanes Surging prices of a number of agricultural commodities from mid June to early July saw investors increase the number of net long non-commercial positions. However, recent improvements in the prospects... 6th August 2015 · 1 min read
China Economics Update Pork prices boost headline inflation Consumer price inflation is likely to have risen to an 11-month high in July on the back of surging pork prices. Volatility in food inflation aside, the bigger picture is that inflation is set to edge... 5th August 2015 · 1 min read
