Australia & New Zealand Economics Update LNG to the rescue? A surge in LNG exports means that, despite a slowdown in the growth of iron ore exports, resources exports will probably continue to offset some of the ongoing falls in mining investment. That said... 6th January 2016 · 1 min read
Precious Metals Update Gold price to rally in 2016 despite US headwinds We expect further Fed tightening and renewed dollar strength to continue to weigh on the price of gold over the next year or so. Nonetheless, we still see scope for a partial recovery driven by a... 5th January 2016 · 1 min read
Commodities Chart Pack A mixed December closes a bleak year for commodities Broad commodity indices fell in December on the back of plummeting oil prices. But outside of energy, commodities withstood the first Fed rate hike in ten years better than many had anticipated... 4th January 2016 · 1 min read
Energy Update Saudi-Iran tensions unlikely to provide lasting boost to oil prices The latest flare-up in tensions between Saudi Arabia and Iran is one of two main factors undermining global equities today, although we believe it has been much less important for financial markets... 4th January 2016 · 1 min read
Global Markets Update Will commodities be top of the flops again in 2016? 2015 was a year to forget for most investors. Commodities were routed ... again. Equities struggled, especially in emerging markets. And bonds generally failed to shine. There should be more to cheer... 4th January 2016 · 1 min read
Commodities Update Bad news from China kicks off an unhappy New Year Worries over China’s economy still look overdone to us, but today’s headlines are clearly unhelpful for sentiment towards industrial metals. More positively, the prices of crude oil and gold appear to... 4th January 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude oil stocks saw the largest fall since early July last week, despite a slight increase in production, as net imports dropped sharply. However, product demand also declined, with production of... 23rd December 2015 · 1 min read
Commodities Update Our six key themes for commodity markets in 2016 2015 has of course been a difficult year for those, ourselves included, who have had anything positive to say about commodities. We will publish detailed predictions for 2016 early in January after a... 23rd December 2015 · 1 min read
Metals Watch Some reasons to be cheerful on copper The price of copper in US dollar terms has fallen by nearly 30% since the start of 2015. The catalyst for the decline in prices has been the slowdown in China’s economy and fears that it may... 23rd December 2015 · 1 min read
Industrial Metals Update Steel prices to recover slowly in 2016 After falling sharply in 2015, we expect US steel prices to recover slowly next year as a result of greater trade protectionism, further global capacity closures and improved demand. 23rd December 2015 · 1 min read
Energy Update Falling US production to support oil prices in 2016 The current weakness in crude oil prices partly reflects still-high production and stocks in the US, despite the collapse in the number of active drilling rigs there. But we expect the supply response... 23rd December 2015 · 1 min read
Precious Metals Update Precious metals supply to tighten as currency boost fades Falls in currencies of major producers have played a key role in cushioning mining companies’ margins in recent years. However, with the prices of most precious metals trading below production costs... 22nd December 2015 · 1 min read
Australia & New Zealand Chart Pack Rebound won’t be sustained Australia and New Zealand both staged impressive rebounds in the third quarter, with GDP rising by 0.9% q/q in each economy on the back of a large boost from net exports. However, neither economy will... 22nd December 2015 · 1 min read
Metals Focus Aluminium prices to rise due to stronger automotive demand Governments are progressively tightening emissions and fuel economy standards for vehicles, a process that will only intensify following the deal on climate change reached at the recent Paris... 21st December 2015 · 1 min read
Commodities Update Weak producer currencies to keep prices under pressure Currency fluctuations have been a key factor dragging agricultural prices lower in US dollar terms this year. Dollar strength and weakness in key producer currencies are likely to remain headwinds in... 21st December 2015 · 1 min read
Precious Metals Update Weak industrial demand continues to weigh on US silver trade US imports of semi-manufactured silver remained subdued in September, suggesting that industrial demand is yet to recover. In contrast, investors continued to buy into falling prices, boosting demand... 21st December 2015 · 1 min read