Commodities Weekly Fed tightening presents a difficult backdrop for prices Most commodity prices have struggled to make gains since the US August CPI data were published on Tuesday. The unexpectedly strong reading prompted a rise in Treasury yields and US dollar appreciation... 16th September 2022 · 6 mins read
Commodities Chart Pack Constrained supply to limit the falls in energy prices Energy prices have been falling recently as concerns about weaker demand took centre-stage, but we expect constrained supply to put a floor under prices in the coming months. By contrast, we expect... 14th September 2022 · 14 mins read
Commodities Weekly Energy supply concerns take a back seat… for now Energy markets took centre stage this week as demand concerns outweighed supply concerns, dragging prices down. Even the decision by OPEC+ on Monday to cut oil output quotas for October by 100,000 bpd... 9th September 2022 · 6 mins read
Commodities Weekly Pressure from rising Treasury yields likely to resume This week the prices of most commodities got a boost as investors pared back expectations for rate hikes in the US, following lower than expected inflation data. That said, we still expect a further... 12th August 2022 · 6 mins read
Commodities Update Gloomy outlook for use of agriculturals in industry Deteriorating global economic growth over the coming quarters will weigh on industrial demand for cotton, natural rubber and lumber. That said, high oil prices will offer some support to cotton and... 10th August 2022 · 2 mins read
Africa Economics Update Ethiopia: Unlikely to replicate exceptional growth again Ethiopia has been grappling with the fallout from its internal conflict and severe drought which, coming alongside spillovers from the war in Ukraine, will result in much weaker growth in the coming... 10th August 2022 · 4 mins read
Commodities Weekly Oil prices fall, but supply risks remain In a week of relative financial market calm, there was a pause in the large, sentiment-driven swings that have characterised most commodity prices in recent weeks. Instead, prices seemed to take... 5th August 2022 · 6 mins read
Commodities Weekly Prices rally, but room for further gains is limited The prices of most commodities across energy, metals and agriculturals rose this week. The common driver was investors dialling back their expectations of the aggressiveness of US monetary policy... 29th July 2022 · 6 mins read
Commodities Outlook Prices to find a floor While non-energy commodities prices may fall a little further, we think the big move down in those prices is now behind us. Admittedly, the demand outlook has undeniably deteriorated in recent months... 28th July 2022 · 40 mins read
Commodities Weekly Dollar strength likely to return and weigh on prices It was a more positive week for prices, in large part owing to some softness in the US dollar. Otherwise, the news was not particularly positive for prices given the ECB’s surprise decision to hike... 22nd July 2022 · 6 mins read
Commodities Weekly Demand fears in the driving seat, for now Most commodity prices fell this week as global monetary tightening and fears about economic growth intensified. The high June inflation reading in the US nails on another large rate hike at the FOMC’s... 15th July 2022 · 6 mins read
Commodities Weekly Strong US dollar to remain a headwind for prices There was no clear direction in commodity prices this week, even within the same types of commodities. The takeaway is that commodity prices were dancing to their own tunes. Take energy, for example... 8th July 2022 · 6 mins read
Commodities Chart Pack Softer demand, but supply to remain tight Non-energy commodities prices generally fell in June on the back of concerns about the outlook for demand amid global monetary tightening and slower economic growth. Energy prices may also fall a... 6th July 2022 · 13 mins read
Commodities Weekly Demand concerns to weigh on prices for a while yet Prices struggled to find direction this week as concerns about demand deepened at a time of still constrained supply of many commodities. The price of Brent crude fell sharply on Thursday in response... 1st July 2022 · 5 mins read
Commodities Update Where could we be wrong on agricultural prices? We expect that the prices of agricultural commodities will fall back gradually over this year and next, but remain historically high. However, the volatility of prices in recent months and the... 30th June 2022 · 3 mins read
Commodities Update The outlook for staple agricultural commodities We think the prices of agricultural commodities will fall back in the coming months, but most will remain historically high owing to tight supply, concerns about future supply and high energy prices. 24th June 2022 · 4 mins read
