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
OPEC Watch OPEC production ramps up as Nigeria and Libya return OPEC production rose in September as Libya and Nigeria ramped up exports. Saudi Arabia’s output did fall, but this is likely to be a seasonal effect rather than a policy shift. 12th October 2016 · 1 min read
Energy Update What might the US election mean for energy commodities? The initial uncertainty created by what would now be a shock win for Donald Trump in November’s US presidential election would surely be negative for the prices of industrial commodities, including... 12th October 2016 · 1 min read
Global Economics Update Fallout from higher oil prices (mostly) good news The recovery in oil prices is a mixed blessing for global growth. We estimate that the contribution of energy costs to annual CPI inflation in the advanced economies will flip from an average of minus... 11th 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
Industrial Metals Update Nickel prices on increasingly shaky ground The price of nickel has had a good run, but ultimately stocks are high, demand is unexciting albeit solid and supply prospects may improve. As such, we suspect that prices will struggle in the near... 10th October 2016 · 1 min read
Canada Economics Update Business outlook improves, but still relatively weak The Bank of Canada’s Autumn Business Outlook Survey shows that the drag from the collapse in crude oil prices last year is finally fading. However, there are still few signs that the recovery will be... 7th 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
Energy Data Response US Weekly Petroleum Status Report (5th Oct. 16) Crude oil stocks posted yet another surprise fall last week, despite a further reduction in demand from refineries. However, gasoline stocks rose slightly. 5th October 2016 · 1 min read
Energy Chart Pack Hopes of market rebalancing boost energy commodities OPEC’s announcement that it would reintroduce output quotas at its next meeting in November and the subsequent jump in oil prices stole the headlines in September. But coal prices have surged even... 5th 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
Canada Data Response GDP by Industry (Jul. 16) The bigger than expected 0.5% m/m gain in July GDP means that the Bank of Canada’s forecast of a 3.5% annualised increase for the third quarter as a whole now looks well within reach. However, it is... 30th September 2016 · 1 min read