Commodities Weekly Yawning deficit in the oil market to prop up prices It was a mixed week for commodity prices as they faced conflicting pressures in the form of the appreciation of the US dollar, mounting supply risks and signs of some resilience in China’s demand... 8th September 2023 · 5 mins read
Metals Chart Pack Metals Chart Pack (Sep. 2023) Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. China’s announced support for the property sector and the extent of fiscal stimulus is modest, but... 6th September 2023 · 1 min read
Precious Metals Update Solar power to shine on silver in 2024 We think that the silver price will fall over the next few months. But as macroeconomic and financial factors switch from a drag to a boost to demand, and as photovoltaic demand gathers pace, the... 31st August 2023 · 3 mins read
Commodities Weekly Natural gas prices strike lower; iron ore resilient It has generally been a positive week for commodity prices. Most metals and agricultural prices rose on the week, in somewhat of a turnaround from recent trends. By contrast, energy commodities fell... 25th August 2023 · 4 mins read
Commodities Weekly Natural gas prices strike higher Natural gas prices were the biggest mover in commodity markets this week, jumping higher on the back of news of potential industrial action at LNG plants in Australia. We don’t think gas prices in... 11th August 2023 · 5 mins read
Commodities Chart Pack Commodities Overview Chart Pack (Aug. 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 9th August 2023 · 1 min read
Metals Chart Pack Metals Chart Pack (Aug. 2023) We expect targeted stimulus in China to put a floor under base metals prices in the remainder of 2023. But the slowdown in developed economies (DMs) will prevent significant gains. Prices should start... 8th August 2023 · 1 min read
Commodities Weekly Upside risks to our agricultural price forecasts In a week when the US dollar strengthened and the 2-year US Treasury yield rose, agricultural and energy commodity prices still climbed on the back of supply concerns. In the case of agriculturals... 21st July 2023 · 4 mins read
Global Markets Update Why don’t TIPS yields matter anymore? Not so long ago, a higher 10-year TIPS yield almost invariably meant an underperformance of US “growth” stocks vis-à-vis their “value” peers, a lower gold price, and a stronger dollar. That’s changed... 13th July 2023 · 5 mins read
Commodities Outlook Energy prices to buck the downbeat trend We expect most commodity prices to struggle this year against a backdrop of a stronger dollar and deteriorating investor risk appetite. Energy-related commodities will be the exception. We expect... 29th June 2023 · 31 mins read
Commodities Weekly Growing upside risks to our grains price forecasts With the Fed still hinting at more interest rate increases, the dollar strengthened and contributed to declines across most commodity prices this week. One of the few prices that did increase was the... 23rd June 2023 · 4 mins read
Commodities Weekly China stimulus a possible lifeline for metals demand Most prices rose this week, helped by a weaker dollar, stronger-than expected US retail sales in May and interest rate cuts by the People’s Bank of China. Natural gas prices rose particularly sharply... 16th June 2023 · 4 mins read
Commodities Weekly Demand indicators to continue to drive prices for now The oil price ended the week flat despite Saudi Arabia pledging to cut output by 1m bpd in July at the OPEC+ meeting last weekend. Most other commodity prices rose, supported by China’s May trade data... 9th June 2023 · 6 mins read
Commodities Chart Pack Investor pessimism may be running too deep Most commodity prices have moved lower over the past month as concerns about demand loomed large and the US dollar strengthened. We think that prices will continue to struggle over the next few months... 7th June 2023 · 13 mins read
Commodities Weekly OPEC+ likely to stand pat It was a week of two halves, with prices initially falling before the passage of the US debt ceiling bill and a strong US May employment report saw prices recoup some of those losses later in the week... 2nd June 2023 · 6 mins read
Asset Allocation Chart Pack Odds look stacked against risky assets Aside from the US stock market – which is being propped up by a handful of big name stocks and a serious dose of AI fever – most risky assets have struggled over the past month or so. We don’t think... 1st June 2023 · 12 mins read
