Energy Update All signs point south for oil prices The combination of a Greek “no” vote, signs of rising US oil production, positive signals of a nuclear deal between Iran and the West as well as slowing Chinese demand for imported oil means that we... 6th July 2015 · 1 min read
Commodities Update Greek "no" leads us to revise our forecasts for oil and gold Commodity markets have largely responded in the ways we had anticipated to the growing risks of “Grexit”. Oil prices in particular have fallen, undermined also by the prospects of a deal with Iran and... 6th July 2015 · 1 min read
Middle East & North Africa Data Response Whole Economy PMIs (Jun.) The drop in Saudi Arabia’s ‘whole economy’ PMI to a record low last month suggests that growth has slowed in the second quarter. Elsewhere, after a disappointing start to the year, Egypt’s economy is... 6th July 2015 · 1 min read
Metals Chart Pack Prices struggle as investors stay away A lack of safe-haven flows, despite the crisis in Greece, has left the gold pricevulnerable to the prospect of US interest rate hikes later in the year. Silver hasunderperformed, as is usual when... 3rd July 2015 · 1 min read
Commodities Weekly Fears about global growth weigh on industrials It was another strong week for the prices of many agricultural commodities as the USDA’s latest report on planting and stocks stoked concerns about a deteriorating supply outlook. However, given high... 3rd July 2015 · 1 min read
Commodities Update Rising demand and tighter supply to lift arabica prices High Brazilian exports have kept the coffee market well supplied and prices down. But we think lower global stocks and continued demand growth will support prices over the second half of the year. 3rd July 2015 · 1 min read
Energy Update Europe well positioned to weather Ukraine gas disruptions We do not expect the latest dispute between Russia and Ukraine over natural gas to disrupt the supply to Western Europe. But even if it did, the EU is in a good position to cope as stocks are... 3rd July 2015 · 1 min read
Asia Economics Weekly Is there an end in sight to the export slowdown? Emerging Asia’s exports have continued to disappoint over recent months. The downturn can be explained partly by falling commodity prices and currency effects. However, weak global demand has also... 3rd July 2015 · 1 min read
Metals Chart Pack Concerns about global growth weigh on prices The S&P GSCI industrial metals index fell for the second consecutive month in June. Persistently subdued Chinese economic data and the risk of a messy Greek default and exit from the euro-zone... 3rd July 2015 · 1 min read
Precious Metals Update What does China’s rebalancing mean for gold? Gold faces important challenges as China rebalances its economy. Higher consumer spending should be positive for jewellery demand. A corresponding reduction in savings might reduce demand for gold as... 2nd July 2015 · 1 min read
Middle East & North Africa Economics Update Saudi external position deteriorating even before drop in oil prices The plunge in oil prices over the past year has forced Saudi Arabia to dip into its foreign exchange reserves, but one point that is often overlooked is that the Kingdom’s external position had been... 2nd July 2015 · 1 min read
Commodities Chart Pack Grains aside, commodities remain in the doldrums The prices of US grains and soybeans jumped in June on weather-related supplyfears, but most other commodities are still becalmed – at best. Industrial metals continued to struggle, despite additional... 1st July 2015 · 1 min read
Commodities Update Soybean prices now more likely to fall than rise Wet conditions and lower-than-expected stocks in the US have pushed the price of soybeans to its highest level this year. But with plentiful global supplies, we don’t think the recent rally will last... 1st July 2015 · 1 min read
Commodities Chart Pack Grains aside, commodities remain in the doldrums The prices of US grains and soybeans jumped in June on weather-related supply fears, but most other commodities are still becalmed – at best. Industrial metals continued to struggle, despite... 1st July 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US stocks of oil unexpectedly rose last week after eight consecutive weeks of falls. However, stocks of gasoline resumed their downward trend. 1st July 2015 · 1 min read
Latin America Economics Focus After the commodities boom – what next for Latin America? The big falls in global commodity prices are probably behind us but, in the absence of a renewedboom, the growth outlook for much of Latin America will remain depressed. 1st July 2015 · 1 min read
