Commodities Update Strong dollar to put further pressure on price of soybeans The large fall in weekly soybean export sales suggests that the strong dollar is starting to reduce the competitiveness of US exporters. And with a large Brazilian harvest underway, we think the price... 16th March 2015 · 1 min read
Industrial Metals Update Western investors turning positive on copper Investor sentiment towards copper has been negative since late 2014. While some of copper’s recent price resilience probably has to do with short-covering, there are tentative signs that sentiment is... 16th March 2015 · 1 min read
Commodities Weekly Commodity prices wilt in face of surging dollar Most commodity prices fell further this week, undermined by the continued strength of the US currency and soft economic data from China. The prices of crude oils, especially the traditional US... 13th March 2015 · 1 min read
Precious Metals Update Quantifying the downside – and upside – for gold With other analysts reportedly revising down their forecasts and the media coverage almost entirely downbeat, we thought it worth dusting off some of our favourite gold charts. These suggest that the... 13th March 2015 · 1 min read
Precious Metals Update Quantifying the downside – and upside – for gold With other analysts reportedly revising down their forecasts and the media coverage almost entirely downbeat, we thought it worth dusting off some of our favourite gold charts. These suggest that the... 13th March 2015 · 1 min read
UK Markets Chart Pack Strong pound masks emerging election concerns On the face of it, markets appear to be taking the prospect of an inconclusive outcome from May’s general election in their stride. Indeed, markets have moved to price in a slightly faster pace of... 12th March 2015 · 1 min read
Energy Chart Pack Energy prices fall back on high stocks and milder weather It has been a relatively quiet month in energy markets, at least compared to the last few. Oil prices have mostly stabilised although they have dipped a little recently. Meanwhile, milder winter... 12th March 2015 · 1 min read
Global Economics Update Should we worry about dollar strength? The surge in the US dollar to multi-year highs has triggered many worries, including the threat to the US recovery, heightened risks of global deflation via the impact on commodity prices, and the... 12th March 2015 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jan.) January’s euro-zone industrial production data suggested that industry had a poor start to 2015, with little evidence of a boost from the weaker euro or lower oil prices. 12th March 2015 · 1 min read
Commodities Update How do oil prices, diets and climate change affect food prices? Agricultural commodities are less sensitive to the economic cycle than other commodities such as oil and copper, mainly because, in the short term, income and price elasticities for essential... 12th March 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report The latest data from the EIA suggest that the surge in gasoline stocks may have run its course as demand picks up, but stocks of crude oil are likely to continue to rise. 11th March 2015 · 1 min read
Commodities Update Corn stocks revised down, but still huge Although the price of corn has been boosted by a downward revision to estimated global year-end stock levels, this isn’t enough to alter the underlying market situation. We continue to expect the... 11th March 2015 · 1 min read
Industrial Metals Update Copper stocks rise again Factors unrelated to physical demand continue to drive stock movements. However, a lull in activity around Chinese new year was also an issue in February. We expect the rise in copper stocks to be... 11th March 2015 · 1 min read
Commodities Update Investors continue to reduce long bets on agriculturals Investor enthusiasm for agricultural commodities waned further over the lastmonth. Indeed, for eight of the commodities we cover and have Commitment ofTraders data, five saw a fall in net-long non... 11th March 2015 · 1 min read
Energy Update How do lower rig counts affect oil production? We expect US oil production to peak in the middle of this year as the backlog of drilled but uncompleted wells is used up. This should help support oil prices, especially in the US, in the second half... 10th March 2015 · 1 min read
Commodities Update Can commodity prices resist further dollar strength? The prospect of further gains for the US currency remains a major headwind for commodity prices. However, the dollar has already appreciated a long way and, if it continues to climb, much would still... 10th March 2015 · 1 min read
