Commodities Outlook Near-term risks largely on the downside The recent more positive tone in commodity markets has been helped by a number of tailwinds that may be about to fade, if not reverse. The boost to Chinese demand from policy stimulus now already... 18th October 2016 · 1 min read
Commodities Weekly US dollar appreciation constrains prices The prices of most industrial commodities fell this week, as the US dollar continued to appreciate. Doubts about whether OPEC’s plans for an output quota will lead to any meaningful cuts to supply... 14th October 2016 · 1 min read
Metals Data Response South Africa’s Mine Production (Aug. 16) South Africa’s total mine production continued to fall in August, but PGM output recovered as miners took advantage of higher prices. Looking ahead, we think there is a risk of supply disruptions in... 13th October 2016 · 1 min read
Metals Watch What would a Trump victory mean for metals prices? We don’t pretend to know how the political race in the US will develop or who will eventually win the presidency, but in this Metals Watch we aim to shed some light on the potential impact on metals... 12th October 2016 · 1 min read
Global Markets Update What might a Trump win mean for the US dollar? The heightened economic and geopolitical uncertainty that would follow a victory for Donald Trump in November’s US presidential election would surely see the dollar weaken against traditional safe... 10th October 2016 · 1 min read
Commodities Weekly Energy prices shrug off US dollar appreciation Energy prices surged this week, despite the strength of the US dollar, as the physical markets appeared to be moving closer to balance from a position of oversupply. In most other commodity markets... 7th October 2016 · 1 min read
Precious Metals Update Central banks resume gold buying in August The latest data suggest that gold buying from the official sector recovered somewhat in August but overall demand in the year to date remains subdued. That said, we think that the case for gold as a... 7th October 2016 · 1 min read
Metals Chart Pack Industrials steal the show Most metals prices have trended higher over the past month, on signs that the monetary and fiscal stimulus enacted earlier in the year in China is starting to feed through into stronger activity... 4th October 2016 · 1 min read
Commodities Chart Pack A positive month for commodities Encouraging Chinese economic data and the Fed’s decision to leave interest rates on hold boosted the prices of most commodities last month. That said, gold traded in a narrow range, perhaps starting... 3rd October 2016 · 1 min read
Commodities Weekly OPEC’s surprise deal lacks substance The price of oil surged this week in response to the announcement that OPEC members had reached a deal to curb output. However, we are sceptical that this new deal will lead to lower oil supply, not... 30th September 2016 · 1 min read
Precious Metals Update Is China’s appetite for gold faltering? The slump in China’s imports of gold in August has raised concerns about the country’s appetite for the yellow metal. However, the bigger picture is one of relatively robust demand so far this year... 30th September 2016 · 1 min read
Commodities Weekly Algiers unlikely to be a game-changer For the most part, commodity prices have risen this week, boosted by some weakness in the US dollar. The Fed's decision on Wednesday to keep interest rates on hold weighed on the US currency. That... 23rd September 2016 · 1 min read
Industrial Metals Update China’s metals imports remained subdued in August August was another weak month for China’s metals imports. In some cases, lower supply and higher prices have weighed on import volumes. However, relatively soft underlying demand could have also... 22nd September 2016 · 1 min read
Commodities Update Dollar strength weighs on sentiment A stronger dollar, a reduction in risk appetite and a scaling back of expectations that oil producers will actually limit output made it a tough month for most commodities. However, the price of gold... 20th September 2016 · 1 min read
India Economics Update Domestic factors unlikely to cause rupee slump The rupee has been stable against the US dollar in recent months. Looking ahead, suggestions that domestic factors, including calls from within government for a devaluation of the currency and the RBI... 20th September 2016 · 1 min read
Commodities Weekly Attention to return to the Fed The price of oil has taken a hit this week as hopes faded of an OPEC-led agreement between producers to freeze output. However, other industrial commodities performed somewhat better, buoyed by the... 16th September 2016 · 1 min read
