The price of Brent fell below $45 per barrel this week, reflecting investor concerns about oversupply. In contrast, the prices of most industrial metals rose, despite little in the way of positive news. It may be that the rally in Chinese equities boosted investor sentiment more generally.
Commodity markets could struggle to find direction next week in the absence of any major economic releases or events. That said, US data releases – core durable goods orders in May (Monday) and the personal income and spending release (Friday) – should be positive for the US dollar, which may weigh on commodity prices.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services