Commodities Chart Pack Supply and Fed fears dominate The prospects for supply have been the key driver of most commodity prices in the last few months. The main exception is precious metals, where sentiment has been undermined – perhaps excessively so –... 3rd December 2013 · 1 min read
Commodities Chart Pack Ample supply offsets improving prospects for demand The US Federal government shutdown, and subsequent reopening, seems to have had little impact on commodity markets. If anything, the prospect of an extended period of monetary stimulus has supported... 1st November 2013 · 1 min read
Commodities Chart Pack Commodity prices fall despite support from the Fed The Fed’s surprise decision to maintain its current pace of asset purchases for a while longer had little effect on commodity prices. Indeed, the Fed’s caution partly reflects lingering uncertainty... 1st October 2013 · 1 min read
Commodities Chart Pack More upside for gold than oil? Concerns about the impact of Fed tapering on commodity markets have eased somewhat, partly because of the growing recognition that US monetary policy is likely to remain very loose, and partly because... 2nd September 2013 · 1 min read
Commodities Chart Pack Supply takes centre stage Supply factors played a key role in the movement of many commodity prices in July. Most importantly, the price of WTI has risen towards the price of the global benchmark, Brent crude, as logistical... 1st August 2013 · 1 min read
Commodities Chart Pack Negative sentiment towards gold looks overdone Commodity prices mostly fell further in June, with gold being hit particularly hard by (premature) fears of an early end to the support from global monetary policy. Industrial commodities were also... 1st July 2013 · 1 min read
Commodities Chart Pack Growth mix fails to help commodities Signs of stronger growth in the US have failed to boost commodities, due in part to the likelihood that the Fed will start to scale back its asset purchases under QE3 sooner than it might otherwise... 3rd June 2013 · 1 min read
Commodities Chart Pack Commodity and equity markets diverge further The prices of most major commodities fell in April due to growing concerns about the health of the global economy (and the early signs are that this weakness is continuing, for much the same reasons... 1st May 2013 · 1 min read
Commodities Chart Pack Corn leads commodities lower as demand disappoints The collapse in the prices of US grains has received the most attention recently, but commodity prices in general continued to fall in March. The main drivers of this weakness were worries about the... 3rd April 2013 · 1 min read
Commodities Chart Pack New Year rally comes to an abrupt end Commodity prices fell back in February due to worries about the global economy, renewed tensions in the euro-zone and fears of an early halt to QE in the US. These factors were reflected in a stronger... 4th March 2013 · 1 min read
Commodities Chart Pack Upbeat start to the year Further signs of an improvement in the Chinese economy, combined with data indicating that the euro-zone will probably fare better in Q1 than in Q4 2012, have helped to lift commodity prices so far in... 4th February 2013 · 1 min read
Commodities Chart Pack Bullish headlines conceal underlying weaknesses The performances of many commodity prices have been more nuanced than the headlines might suggest. This is clearest in the case of agriculturals, where far more attention is still being paid to the... 3rd January 2013 · 1 min read
Commodities Chart Pack Industrial metals recover, but upside looks limited Metals prices rallied in November, helped by the general improvement in market sentiment and some better economic data from China. However, global sentiment remains fragile and China’s recovery still... 3rd December 2012 · 1 min read
Commodities Chart Pack Prices start to fall to more sustainable levels Commodity prices mostly declined last month, led by the industrial metals most sensitive to macroeconomic and financial conditions. The main exception was US natural gas, whose price recovered further... 1st November 2012 · 1 min read
Commodities Chart Pack Boost from QE3 already starting to fade Confirmation of the launch of QE3 by the US Fed appears to have marked at least a temporary peak in many commodity prices, with the focus quickly returning to the underlying weaknesses in economic and... 1st October 2012 · 1 min read
Commodities Chart Pack Support from QE3 to be short-lived Commodity prices were supported in August by expectations of additional quantitative easing in the US, but economic activity has remained weak or even worsened. Yet more purchases of US Treasuries or... 3rd September 2012 · 1 min read
