Foreign Exchange News
OCT16 - REUTERS QUARTERLY TECHNICAL OUTLOOK– 2016
Energy markets look bullish while base metals are cautiously bullish. Precious metals may slide more and grains, oilseed and sugar could undergo moderate corrections before resuming their rallies. Softs are on a firm downtrend and the bullish Baltic dry index is giving an early signal that the freight industry could be gradually recovering. To read more click here.
Oct 26 - Oil prices fell more than a percent as a report showing a surge in U.S. crude stocks, rising production in Nigeria and squabbling among producers about a planned output cut re-ignited concerns about a global supply glut.
- Gold prices stayed firm as stronger physical demand for the precious metal, ahead of India's late-October festival season, offset a firm U.S. dollar.
- Shanghai aluminium jumped 4 percent to its highest in more than two years, tracking higher coal prices, and a broader reaction to China's steel capacity cuts, along with an improving outlook for the global economy.
- Chicago soybean futures bounced back, inching closer to a two-month high reached earlier this week, with strong demand and gains in vegetable oil markets underpinning prices.
- Underpinned by expectations U.S. rates will rise by the year-end, the dollar held steady in Asia trading, just below a near nine-month peak struck overnight, while the Australian dollar gained as inflation data doused chances of a rate cut there.
Oct 25 - Oil prices dipped as disagreement flared within producer cartel OPEC on who should cut how much production in a planned coordinated reduction to prop up prices.
- Gold prices edged up, underpinned by healthy demand, but an increasing probability of a U.S. interest rate hike and a firm U.S. dollar kept prices range-bound.
- Shanghai zinc surged by its 5-percent upside limit to the highest since 2011, as a cut in capacity across China's steel and coal sectors buoyed prices of steelmaking ingredients.
- Chicago wheat futures dropped, falling for a fourth consecutive session, to trade near its lowest in more than a week on pressure from a firm dollar and ample global supplies.
Oct 24 - Oil prices fell as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and as U.S. drillers stepped up work.
- Gold nudged lower amid uncertainty about the timing of an interest hike by the U.S. Federal Reserve, while a stronger dollar added to pressure on bullion.
- London copper climbed after supply in China's domestic market tightened, more than offsetting a stronger dollar and expectations of ample supply next year.
- U.S. wheat slid for a third straight session, falling to its lowest in more than a week as plentiful global supplies dragged down the market.
Oct 21 - Gold edged down as the dollar strengthened, but was on track for its first weekly gain in four weeks on steady physical buying from China and exchange-traded funds.
- Oil prices were stable, weighed down by a stronger dollar but supported by signs fuel markets are balancing after two years of oversupply.
- London copper was set for a third weekly fall on worries about cooling demand, while aluminium was on track for its biggest weekly drop since at least early September after record China production fuelled concerns of oversupply.
- Chicago soybeans were set to post a third week of gains as strong U.S. exports buoyed the market, with focus likely to shift to South American plantings in the weeks ahead.
Oct 20 - Gold prices were stable early, after rising 0.5 percent in the previous session, with markets keeping a close watch on the final U.S. presidential debate between candidates Hillary Clinton and Donald Trump.
- Oil prices dipped on profit taking after markets rallied the previous day due to a draw in U.S. stocks and an expectation of an OPEC-led cut in production.
- London copper traded little changed in trade marked by low volumes as the final U.S. presidential debate got underway, while China's steps to cool its real estate market, a key metals user, also dampened buying interest.
- Chicago soybean futures rose for a second session, trading near a three-week high reached earlier this week with prices underpinned by firm demand, led by top importer China.
- The euro stood near a three-month low ahead of a European Central Bank meeting, while the Mexican peso rose to a six-week high after the conclusion of the final U.S. presidential debate before the November election.
Oct 19 - Gold prices held on to gains, after rising 0.6 percent the session before on a weaker U.S. dollar, but rising equities capped gains.
- Oil prices rose, lifted by a report of a drop in U.S. crude inventories and declining production in China, while an upbeat OPEC statement on its planned output cut also supported the market.
- London copper was steady after China's economic growth met expectations in the third quarter, but an impending slowdown in real estate growth painted a mixed outlook for copper demand.
- Chicago soybeans ticked up, rising for a fourth session out of five as strong demand underpinned prices, but expectations of a record U.S. crop capped gains.
Oct 18 - Gold prices edged up for a second session as the U.S. dollar weakened, but rising equities capped gains amid speculation over when the U.S. Federal Reserve will raise interest rates.
- Oil prices rose early as some analysts said markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.
- London copper edged higher as the dollar eased from seven-month highs, while nickel found some support from data that showed a drop in mine supply.
- Chicago soybeans were little changed, trading near last session's highest in more than three weeks, with prices underpinned by strong demand and firm edible oil markets.
Oct 18 - Higher Crude Oil, Palm Oil Prices Push Up Singapore Stocks (Dow Jones)
The FTSE Straits Times Index is trading 0.2% higher at 2,822.54 Tuesday helped by higher crude oil and palm oil prices. Palm oil plantation company Golden Agri-Resources is one of the most heavily traded stocks, up 4.1%, followed by Noble Group, which is trading 1.7% higher. Among energy and marine service industry stocks, Ezion Holdings is up 1.5% while Ezra has gained 1.8% so far. Keppel Corp is trading 0.2% higher. Among banking stocks, DBS Group and Oversea-Chinese Banking Corp. are up 0.6% each, while United Overseas Bank is up 0.4%. Singapore Press Holdings is trading down 0.5% at S$3.72.
Oct 17 - Gold prices edged up slightly as the U.S. dollar gave up some gains and bargain hunters used dips to accumulate the precious metal.
- Oil prices fell early, pulled down by a rising rig count in the United States, a strong dollar and record OPEC-output which comes amid slowing global economic growth that could erode fuel demand.
- London copper held above a one-month low after remarks by the Federal Reserve chair suggested the U.S. central bank may stick with loose monetary policy for longer, which shored up investor appetite for commodities.
- Chicago corn and soybean futures rose for a third consecutive session, with prices underpinned by short-covering and strong demand.
Oct 14 - Plunging pound and threats put EU farm workers off the UK
For the last 18 years, Jerzy Kwapniewski has left his home in Poland to spend the summer months picking apples and hops on a farm in central England. He plans to look for work in Germany next year. The 50-year-old seasonal worker is one of many east Europeans who, shaken by the fallout from Britain's vote to leave the EU, have either left the country early or indicated a reluctance to return next year. Click here to read full stories.
Oct 14 - Gold prices edged lower as stocks firmed and the U.S. dollar rose on expectations the Federal Reserve would raise interest rates by the end of the year.
- Oil prices edged up, pushed by a tighter U.S. fuel market and as technical indicators attracted buying from financial players.
- London copper hovered near a one-month low after poor Chinese trade data stoked jitters about demand in the world's top metals user, while zinc and lead faced steep weekly falls on the prospect of improving supply.
- Chicago wheat climbed for a second session, with the market poised for its biggest weekly gain in almost a year as strong demand prompted investors to cover short positions.
Oct 13 - Gold prices rose as the U.S. dollar pared early gains and equities plunged on Chinese trade data that stoked concerns about the health of the world's No.2 economy.
- Oil prices fell after OPEC said its production had risen to the highest level in at least eight years and following reports of an increase in U.S. crude stockpiles.
- London copper slipped after China's September trade data showed a sharp decline in exports, raising fresh concerns about the health of the world's No.2 economy and biggest user of metals.
- Chicago corn and wheat futures rebounded after dropping more than 2 percent in the last session after U.S. government estimates of bin-busting supplies.
Oct 12 - Andurand Capital's Commodities Fund up 11.1 pct in year to Sept. 30- source
London-based energy hedge fund firm Andurand Capital made gains of 11.1 percent after fees in the year to end-September in its Commodities Fund, a source close to the matter told Reuters. Andurand has amassed $1.36 billion in assets under management since it was founded by prominent oil trader Pierre Andurand in 2013, more than doubling from around $615 million in December 2015.
Oct 12 - Japan's JBIC says cautious on lending to resource sector
Japan Bank for International Cooperation (JBIC), a major backer of mining and energy projects for Japanese companies, said it will be cautious on lending to the resources sector despite a rally in commodity prices this year. With oil prices surging around 40 percent in 2016 and coal up by more than 50 percent, many argue that a slump in commodities since the global financial crisis is over.
Oct 12 - Gold edged higher as the U.S. dollar retreated, with markets waiting for minutes from the September Federal Reserve policy meeting for more clues on any interest rate hikes this year.
- Crude futures inched up, with investors waiting for talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market.
- London zinc partly recovered after posting its sharpest daily fall in more than 10 months after a major miner said it planned to double output next year, which pummelled zinc prices in Shanghai.
- Chicago wheat ticked lower after two days of gains as investors positioned themselves ahead of the U.S. government's monthly report on the supply and demand of agricultural products.
Oct 11 - Gold prices edged lower after two sessions of gains, with the U.S. dollar strengthening amid speculation the Federal Reserve will raise U.S. interest rates in December.
- Oil prices edged down but held near one-year highs touched on growing expectations of an output cut by OPEC producers, with traders saying the price outlook remains bullish as confidence in crude markets rises.
- London copper drifted as the dollar held strong after recent solid economic reports, although optimism that U.S. presidential candidate Hilary Clinton was pulling ahead in the polls fed appetite for risk, limiting losses.
- Chicago wheat rose for a second session as concerns over dryness in U.S. wheat growing regions and excessive rains in Australia's grain belt prompted investors to cover short positions.
Oct 10 - Gold rose for the second straight session, after falling in the preceding eight, buoyed by post-holiday buying in China and a weaker dollar, while a slowdown in U.S. job growth bolstered expectations that U.S. interest rate hikes would only be gradual.
- Oil prices fell over doubts that an OPEC-led plan to cut output would rein in a global oversupply that has dogged markets for over two years.
- London nickel rose as Chinese markets returned after a week-long break and traders bought the metal, which fell last week when Indonesian officials said they were considering reinstating nickel ore exports.
- Chicago wheat rose with the market snapping two sessions of decline as dry weather in parts of the U.S. winter wheat growing areas raised concerns over supplies.
- The Mexican peso surged, as markets trimmed the chance of a victory by Republican nominee Donald Trump in his U.S. presidential bid after his campaign was rocked by crisis following revelations he had mad vulgar comments about women.
Oct 07 - Gold fell for a ninth straight session on a stronger dollar ahead of key U.S. jobs data and the metal was headed for its worst weekly dip in nearly a year on increased expectations of a Federal Reserve rate rise by year end.
- U.S. oil futures held above $50 per barrel as the entire crude forward curve pushed above above that level in a sign that financial markets have increasing confidence in the sector.
- London copper was facing its biggest weekly fall in six weeks on Friday, with weakness set to extend into next week on a stronger dollar and concerns about fresh curbs on China's property market, a key consumer of the metal.
- Chicago soybeans were on track to post their first weekly rise in a month, with strong demand underpinning the market, although harvesting of a record-large U.S. crop limited gains.
- Sterling recouped some of its losses after a precipitous plunge to a fresh 31-year low, but traders say the currency remains vulnerable to renewed selling due to anxiety over a "hard" exit by Britain from the European Union.
Oct 06 - Commodities to struggle to regain stance in portfolios - JPM
Commodities will battle to regain a prized place in many portfolios after the "super cycle" fizzled out and in a world of muted global growth, executives at JP Morgan Asset Management said. The sector could, however, claw back a shred of its former glory by providing some diversification benefits, they said during a conference by the fund manager in London this week. Click here to read full stories.
Oct 06 - Gold prices slipped as the dollar firmed and equities rose ahead of Friday's non-farm payrolls report that should bolster expectations of a U.S. interest rate hike that would push investors to exit their bullion holdings.
- Oil prices eased but remained near June highs reached the previous session when they were buoyed by a fall in U.S. crude inventories.
- London copper slipped in very low volumes as a stronger dollar weighed on commodities and a week-long holiday in China drained the market of direction.
- Chicago wheat rose for a second session to trade near an almost two-week high hit in the previous session on short-covering and expectations of strong demand for U.S. shipments.
- The dollar stuck to narrow ranges against its major rivals in Asian trade, ahead of this week's nonfarm payrolls report that could reinforce expectations that the U.S. Federal Reserve will hike interest rates by December.
Oct 05 - Gold rose, bouncing back from hitting its lowest in more than three months in the previous session, as the U.S. dollar eased back from a two-month high and stocks fell.
- Oil prices rose in early trading after a report that U.S. fuel inventories may have fallen for a fifth straight week, but contracts remained near the $50 marker where many traders currently see fair value for crude.
- London copper was marking time, underpinned by a softer dollar and expectations that China's metal demand will slowly and steadily improve into the fourth quarter.
- U.S. corn edged lower for the first time in four sessions on ample global supply, retreating from its highest in more than two months touched the day before.
Oct 04 - Gold fell to its lowest in over two-weeks as the dollar gained strength after upbeat U.S. economic data .
- Oil prices dipped on a rise in Iranian exports that adds to a global supply overhang, but a planned OPEC-led production cut later this year offered some support.
- London copper edged up in low-volume trade after an encouraging U.S. factory report helped brighten the outlook for metals demand, following improving signals in China and Europe.
- Chicago soybean prices edged lower, snapping a three-session rally and easing from their highest in more than a week as a pick up in the pace of U.S. harvesting kept a lid on the market.
- The dollar rose against the yen and euro, boosted by an upbeat U.S. manfacturing sector survey, while the pound wallowed near a three-decade low on concerns over a potential "hard Brexit" for Britain.
Oct 03 - Gold edged lower on a firmer dollar and a gain in equities, with the yellow metal losing its safe-haven appeal as concerns about Deutsche Bank's health eased.
- Oil prices fell away from $50 per barrel despite an agreement last week by exporters to cut output, with traders doubting the step was enough to rein in production that has exceeded consumption for the better part of three years.
- Copper steadied near eight-week highs after posting its biggest monthly gain in more than a year-and-a-half as improving Chinese economic data brightened the outlook for demand from the world's top consumer.
- Chicago corn futures rose for a second session, climbing to a one-week high as the market was underpinned by lower-than-expected inventories in the United States due to strong demand from animal feed makers.
- Sterling hit seven-week lows after Britain set a March deadline to begin its exit from the European Union, while the dollar firmed as fears about Deutshe Bank receded and investors looked to this week's U.S. jobs data.
Sep 30 - Gold inched up as equities fell on the back of worries about the health of Deutsche Bank, spurring some safe-haven demand for the yellow metal, but a firmer dollar capped gains and the metal was on track to end the week down over 1 percent.
- Oil prices dropped as investors took profits following a 7-percent rise in the last two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut.
- Lead and tin steadied near multi-month highs and were heading for their biggest quarterly gains in at least three years, bolstered by tighter supply and falling inventories.
- Chicago soybeans eased, set for a third week of decline on prospects for higher yields than estimated by the U.S. Department of Agriculture, although strong demand kept a floor under the market.
- The safe haven Swiss franc held firm as concerns about the health of Deutsche Bank undermined risk sentiment, while the Japanese yen looked set for its third straight quarter of gains despite suffering a slight loss on the day.
Sep 29 - Gold edged up as the U.S. dollar weakened in the wake of an oil producer agreement to curb output.
- London lead futures climbed to the highest since May last year amid worries over tighter supply in top market China and elsewhere, while nickel held near seven-week highs on similar supply risks from top ore exporter Philippines.
- Chicago soybeans bounced back, rising almost 1 percent on strong demand from top importer China, although expectations of a quickened pace for the U.S. harvest capped gains.
- The Commodity-linked currencies held firm after OPEC agreed to cut oil output in the first such deal since 2008, boosting oil prices while a broad gain in risk assets dented the yen.
Sep 28 - Gold inched lower to touch a one-week low, after suffering its biggest single-day loss in nearly a month in the previous session, on a firmer dollar.
- Oil prices rose in mixed trading, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains.
- London nickel futures held near seven-week highs after the Philippines said 20 more mines may be suspended for environmental violations, threatening supply from the world's top nickel ore exporter.
- Chicago soybeans futures eased, falling for three out of four sessions on expectations dry weather in the days ahead will boost U.S. harvest which has been hit by heavy rains.
- The yen flirted with one-month highs, recovering from losses following Tuesday's U.S. presidential debate, and the euro retreated on concerns over the health of the European financial system.
Sep 27 - Gold edged lower as equity markets bounced back and the Mexican peso surged in Asian trade, hinting that investors viewed Democrat Hillary Clinton as the winner of her first U.S. presidential debate with Republican Donald Trump.
- Crude futures slipped in Asian trade as investors took profits after prices climbed more than 3 percent in the previous session.
- Nickel dropped more than 2 percent, falling for a second day on speculation that expected mine closures in the Philippines, the world's biggest nickel ore supplier, may not limit supply as much as originally thought.
- Chicago soybeans futures rose, recovering from last session's over one-week low, as a U.S. government report showed the harvest across the Midwest lagged expectations following heavy rains.
Sep 26 - Gold prices edged lower as the dollar firmed, though the market is focused on the outcome of the U.S. presidential debate later today that could see investors buying more of the metal as a hedge against financial uncertainty.
- Crude prices rebounded after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.
- London nickel prices eased, taking a breather after climbing for the last five sessions to a six-week high on concerns over the possibility of mine suspensions in the Philippines.
- Chicago soybeans prices edged up, recovering from their lowest in more than a week hit earlier in the session on forecasts of dry weather that is expected to help harvesting of a record U.S. crop.
Sep 23 - Gold edged down, after touching a two-week high in the previous session, on a stronger dollar, but was on track for its biggest weekly gain in nearly two months.
- Oil prices eased, pulled down by a technical sell-off following two sessions of strong rises and on caution ahead of a gathering of OPEC ministers next week in Algeria to dicuss possible production cooperation to rein in global oversupply.
- London nickel slipped, but was still on track for a nearly 9 percent gain, its biggest weekly gain since July, as markets braced for more Philippine mine suspensions amid an environmental crackdown on the sector.
- Chicago corn slid for a third consecutive session as U.S. farmers made progress in gathering an all-time high crop after rains disrupted harvest last week.
Sep 22 - Gold prices edged lower as investors booked profits after a 1.5 percent rise in the previous session, opting for riskier assets like equities after the U.S. Federal Reserve held interest rates steady at the end of a two-day policy meeting.
- Oil prices rose around 1 percent, extending gains from the previous session after a surprise third consecutive weekly U.S. crude inventory draw tightened the market.
- London nickel jumped by 1.5 percent to its highest in six weeks as investors bet on the prospects of a wide reaching suspension of mining in Philippines crimping supply to China.
- Chicago soybeans futures bounced back, rising for five out of six sessions, with prices buoyed by forecasts of more rains in the U.S. Midwest that threaten to further delay the harvest.
- The dollar hit a near 4-week low against the yen after the U.S. Federal Reserve kept monetary policy steady and projected a less aggressive path for interest rates hikes in coming years.
Sep 21 - Gold prices edged lower as the dollar rose after the Bank of Japan overhauled its stimulus programme, with investors turning their focus to the U.S. Federal Reserve's policy outcome on interest rates later in the day.
- Oil prices climbed, supported by a reported draw in U.S. crude inventories and by firm import data from Japan. London copper eased from four-week highs as the dollar rose ahead of key decisions by the Japanese and U.S. central banks, but expectations of a pick-up in demand from China underpinned prices.
- Chicago soybeans fell for the first time in five sessions, with the market taking a breather after climbing to a one-month high in the last session on concerns over rains delaying the U.S. harvest.
- The yen weakened against the dollar and euro after the Bank of Japan altered its policy framework, and investors bought back the U.S. currency ahead of the outcome of the Federal Reserve's policy meeting later in the session.
Sep 20 - Gold rose for a second straight session as equities wavered ahead of a two-day U.S. Federal Reserve meeting in which interest rates are mostly expected to remain unchanged.
- Oil prices fell after Venezuela said that global supplies needed to fall by 10 percent in order to bring production down to consumption levels, and technical indicators also pointed to cheaper crude futures.
- London copper and nickel dipped as the dollar edged higher, but encouraging economic signals from China offered some support to prices.
- Chicago soybeans rose for a fourth straight session as excessive rains in parts of the U.S. Midwest delayed harvest and raised concerns about crop quality.
- Major currencies came to a standstill as investors look to this week's policy meetings of the Bank of Japan and Federal Reserve, with speculation rife that the Japanese central bank will make crucial changes to its easing programme.
Sep 19 - Global commodity investments at record high for Jan-Aug: Barclays
Investments in commodities were at their highest ever from January through August compared to the same period in any year, while global commodity assets under management (AUM) stood at $235 billion in August, Barclays said in a monthly note on Thursday.In terms of investments, August saw an inflow of $3.2 billion into commodities, compared with $2.4 billion in July. Click here to read full stories.
Sep 19 - Gold rose, after touching a two-week low in the prior session, as the dollar softened, but caution ahead of the U.S. Federal Reserve's monetary policy decision kept a lid on prices.
- Oil prices rose almost 2 percent, after Venezuela said OPEC and non-OPEC producers were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted.
- London copper dropped nearly 1 percent while London nickel jumped in volatile trade as Chinese markets returned from an extended autumn break.
- Chicago soybeans climbed more than one percent to a one-week high and corn gained more ground, with prices underpinned by rains in parts of the U.S. Midwest that delayed the harvest.
Sep 16 - Gold held steady amid lower trading activity because of Asian holidays but was set for its first weekly loss in three as investors were choosing more riskier assets such as equities rather than holding value in the yellow metal.
- Oil prices fell on worries that U.S. rig counts would continue to rise and that returning Libyan and Nigerian exports would stoke a global supply glut.
- London copper edged to a three-week peak amid holiday-thinned trade, and was set to log its largest weekly rise in two months as China's economy shows signs of finding its feet.
- Chicago soybeans and corn futures lost ground with both poised for a decline of more than three percent this week as harvest of all-time high U.S. crops pressure prices.
- The dollar eased versus the yen, struggling to gain traction after lacklustre U.S. economic data further dampened already low expectations for a Federal Reserve interest rate hike next week.
Sep 15 - Gold prices held steady after breaking a five-day losing streak in the previous session, as uncertain equity markets ahead of the U.S. Federal Reserve meeting next week boosted the metal's safe-haven appeal.
- London copper was treading water, a day after posting its biggest daily rise in three months as traders closed short positions following encouraging Chinese economic data and ahead of a spate of holidays.
- Oil prices rebounded in early Asian trade after falling around 3 percent in the previous session, supported by an unexpected fall in U.S. crude inventories.
- Chicago corn futures rose for a second session, recovering from one-week lows on expectations of further reductions in estimates for U.S. corn yields.
- The yen firmed in Asian trade as investors' looked for safe havens in the face of weakening share markets, though major currency pairs were otherwise little changed ahead of next week's Bank of Japan and Federal Reserve policy meetings.
Sep 14 - Gold held steady after falling 0.6 percent in the prior session, as the dollar slipped amid expectations that the U.S. Federal Reserve was unlikely to raise rates next week.
- Oil prices rebounded in Asian trade after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stocks.
- London copper London copper hovered close to three-week highs after brighter economic indicators in the United States and China offered more evidence of a global recovery, but expectations of growing supply kept prices in check.
- Chicago soybeans gained ground as the market took a breather after dropping to a near two-week low in the last session on estimates of all-time high U.S. production.
- The yen slipped broadly after a report that the Bank of Japan is considering further monetary easing steps, including taking interest rates deeper into negative territory.
Sep 13 - Gold edged higherafter comments by a top Federal Reserve official reduced prospects of a U.S. interest rate hike next week.
- Oil prices fell on concerns over increased drilling in the United States and as investors took profits after oil prices rose close to 1 percent in the previous session.
- London copper held above a 12-week low, underpinned by a raft of rosier China data and after comments by a Federal Reserve official that assuaged concerns the U.S. central bank could hike rates as soon as next week.
- Chicago soybean futures edged up, recouping some of the previous session's deep losses, although a key U.S. government report showing production outstripping demand continued to keep a lid on gains.
- The dollar inched higher against the yen but remained below the previous day's high, having taken a hit after dovish comments from a Federal Reserve policymaker reduced bets that the Fed would raise interest rates this month.
Sep 12 - Gold was little changed as a fall in stock markets helped to win it safe-haven support against the view that the U.S. Federal Reserve will raise rates as early as this month following upbeat comments by central bank officials last week.
- Crude prices fell over 1.5 percent after U.S. oil drillers added rigs to look for new production as producers adapt to cheaper crude, with speculators cutting positions betting on further price rises.
- London copper slipped to its weakest level since late June after risk aversion roiled wider markets, and investors turn increasingly bearish on the metal given prospects for rising supply.
- U.S. soybeans fell nearly 1 percent as investors squared positions ahead of a widely watched U.S. Department of Agriculture report.
- The dollar began the week on the back foot as a bout of risk aversion underpinned the yen, though losses were limited as the U.S. currency garnered some support on renewed talk of a possible rate hike by the Federal Reserve as early as this month.
Sep 09 - U.S. commodities, derivatives regulator adopts new cybersecurity rules
U.S. commodities and derivatives firms, including exchanges and clearinghouses, would have to frequently test their information technology for vulnerabilities under final rules approved Thursday by the Commodity Futures Trading Commission (CFTC).The CFTC's rules are intended to promote flexibility as hacking methods evolve, and to help firms stay up-to-date on the best responses to cyber attacks. The new rules also aim to help companies recover quickly from incursions. Click here to read full stories.
Sep 09 - Gold held steady early on a weaker dollar and was on track for its second successive weekly gain.
- Oil prices pulled back on profit-taking after settling more than 4 percent higher a day earlier, following a surprisingly huge drawdown in U.S. crude stocks as Gulf Coast imports slumped to a record low.
- London copper was set to edge higher for a second week in the wake of the northern hemisphere summer lull, while prices have also been cushioned by a softer dollar.
- Chicago corn futures eased from a two-week high as the market took a breather after a short-covering rally which lifted prices 7.3 percent in the past five sessions.
Sep 08 - Gold was steady, after dipping 0.3 percent in the prior session, as the dollar remained weak and investors awaited cues on monetary stimulus from a ECB policy meeting due later in the day.
- Oil prices extended gains by more than 1.5 percent after industry data showed what might be the largest weekly drawdown in crude stocks in over three decades.
- London copper was holding near its highest level in a fortnight, after a string of softening economic reports pushed back U.S. rate hike expectations.
- Chicago corn futures climbed to a two-week high, buoyed by short-covering after prices dropped to multi-year lows last week under pressure from expectations of a record U.S. crop.
- The yen held on to its recent gains as markets looked ahead to a speech by BoJ Deputy Governor later in the day for clues on what the central bank might do at its policy review later this month.
Sep 07 - Gold rose to a fresh two-and-a-half-week high after gaining nearly 2 percent in the previous session, as disappointing U.S. economic data reinforced expectations the U.S. Federal Reserve will keep rates on hold in September.
- Oil prices erased early losses to trade higher, but gains were limited as market participants remained sceptical producers would reach an agreement to freeze output to rein in a global supply glut.
- London copper rose to the highest in two weeks as a falling dollar spurred demand for commodities given fading prospects of a U.S. interest rate hike in September.
- Chicago soybeans rose for a fourth consecutive session, with prices underpinned by strong demand and concerns over excessive wet weather delaying the U.S. harvest.
- The yen charged ahead after downbeat U.S. economic data made a U.S. interest rate increase this month unlikely, prompting investors to trim their dollar bets and triggering stop-loss orders in early Asian trade.
Sep 06 - Gold held steady early from the prior session as the dollar weakened on expectations that the U.S. Federal Reserve will not raise rates in September, but the yellow metal's gains were limited by stronger equity markets.
- Crude prices extended gains, buoyed after top producers Russia and Saudi Arabia agreed to cooperate on stabilising the oil market, but a lack of immediate action to rein in output capped gains.
- London copper hovered near two-month lows, with signs of oversupply from a flood of inventory into exchange stocks amid a modest pick-up in demand.
- Chicago wheat fell while corn dipped as grain markets opened after a long weekend, with ample wheat supplies and an upcoming harvest of a record high U.S. corn crop denting prices.
Sep 05 - Gold held steady after climbing as much as over 1 percent in the previous session as a weaker-than-expected U.S. jobs data trimmed expectations of a Federal Reserve rate hike in September.
- Crude prices inched down, paring 3 percent gains in the previous session, as the dollar firmed and traders eyed persistent concerns over a global oil glut despite some signs oil producers may try to tackle weak oil prices.
- London copper hovered near its weakest in two months as the dollar gained ground and as investors bet that more mine supply would drag on prices for the rest of the year.
Sep 02 - Crude prices rose after losses of more than 3 percent a day earlier, with investors treading cautiously ahead of key U.S. employment data that will help gauge the health of the world's largest economy and oil consumer.
- Gold was steady after falling to its lowest in over two months the session before, with the dollar slipping as weak U.S. manufacturing data raised doubts on the economy's strength ahead of closely-watched nonfarm payroll numbers.
- London copper held steady, while lead and zinc hit year-to-date highs as the dollar fell ahead of a key U.S. jobs report later in the session that is likely to dictate short-term direction in metals markets.
- Chicago wheat futures rose for a second session with short-covering ahead of the U.S. Labor Day holiday long weekend supporting prices although the market is poised for a second week of declines amid plentiful world supplies.
- The dollar was on the back foot after taking a tumble following a surprise contraction in U.S. manufacturing, which cast some doubts on the strength of U.S. economic growth ahead of closely-watched employment data later in the day.
Sep 02 - U.S. gives swap dealers more time on margin rules, Asia trading stumbles
U.S. financial regulators gave over-the-counter (OTC) swap dealers an extra month to comply with new derivatives trading rules set to take effect on Thursday, after Asia's market ground to a near halt due to uncertainty about changes that could increase global funding costs by more than $500 billion. The rules directly affect U.S. and Japanese banks, which will be required to post and collect collateral or "margin" against OTC trades,a development set to dramatically raise the cost of trading in the $500 trillion global swaps market.Click here to read full stories
Sep 01 - Gold held steady above two-month lows hit in the previous session while oil prices rose in the early Asian trade after the dollar gave up gains as investors wait for clues to the next U.S. interest rate hike from the nonfarm payrolls report on Friday.
- London copper shifted away from two-month lows and zinc neared 15-month highs after China's manufacturing activity unexpectedly expanded in August, typically a quiet month for metals demand.
- Chicago Wheat started the new month on a positive note, with bargain-buying by end-users underpinning a market that had recorded four straight monthly losses to fall to a 10-year low.
Sep 01 - Ex-Cargill investors prep $100 mln commods hedge fund -source
Mark Schulze and Jason Vogt, veterans of Cargill and its Black River Asset Management unit, are preparing to launch their own commodity-focused hedge fund, according to a person familiar with the situation. The two men set up Minneapolis-based Twin Harvest Capital Partners in August and plan to begin investing sometime next year with approximately $100 million, said the person, who requested anonymity because the information is private.
Aug 31 - Crude oil futures dipped as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories.
- Gold edged up from two-month lows hit in the previous session, as the dollar edged lower and investors waited for nonfarm payroll numbers later this week for clues on the timing of a Federal Reserve rate hike.
- London copper was set for a monthly drop in August, pushing it into negative territory for the year, while zinc, tin and lead eyed monthly advances.
- Chicago wheat futures were on track for a fourth consecutive month of losses as plentiful global supplies drag down the market, while expectations of record U.S. production kept corn near multi-year lows.
- The dollar rose to a one-month high against the yen as investors reversed the bets they had made on speculation that the U.S. Federal Reserve would not hike interest rates anytime soon.
Aug 30 - Gold held steady as investors swooped in after the metal fell to near five-week lows, while markets wait to see how U.S. nonfarm payroll data due later this week will play into the timing of any rate hike.
- London copper edged up from a nine-week low after falling for the last six sessions in a row.
- US wheat futures rose for the first time in seven days, underpinned by bargain-buying after the market tumbled to a 10-year low in the previous session.
- The dollar took a breather, as investors waited to see if U.S. employment data later this week would reinforce U.S. Federal Reserve official's recent hawkish messages.
Aug 29 - Gold edged lower as the dollar got a boost after hawkish comments from Federal Reserve Chair Janet Yellen left the door open to a U.S. interest rate hike as early as next month.
- Oil prices fell about 1 percent as Iraq's production rose and Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognised its right to fully regain market share.
- Shanghai copper was stuck near two-month lows, while a holiday in London drained the market of direction.
- U.S. wheat fell for a sixth consecutive session and hovered near a three-week low, as ample global stocks and a regulatory clamp-down from the world's largest buyer of the grain dragged on prices.
Aug 26 - Gold held steady above 4-week lows hit in the previous session, as the dollar slipped ahead of a speech by Federal Reserve Chair Janet Yellen that would be closely watched for cues on U.S. interest rates.
- Oil prices dipped in early trading after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month.
- London zinc rallied to its highest in 15 months as fresh shutdowns in China's steel sector added to mine supply concerns to ignite a short-covering rally.
- Chicago soybeans were on track for a weekly decline of almost three percent as a keenly watched U.S. crop-tour pegged above-average yields across key producing Midwest.
Aug 25 - Gold held slightly above a four-week low touched in the previous session as the dollar lost some strength ahead of a speech by Federal Reserve Chair Janet Yellen that may yield clues on U.S. interest rate policy.
- Crude prices dipped as brimming U.S. and Asian fuel inventories returned investor attention to a large global supply overhang, cutting short a price-rally and restricting Brent crude futures to below the $50 a barrel mark.
- London copper hung near a two-month low on evidence of mounting supply and nickel weakened after lower shipments to China.
- Chicago soybeans futures slid for a third consecutive session to their lowest since mid-August, pressured as a widely watched crop tour reported bumper crop prospects across the U.S. Midwest.
Aug 24 - Gold was trading in a narrow range as investors waited for clues on whether the U.S. Federal Reserve would hike interest rates this year.
- London copper hovered near its lowest in six weeks, with a stronger dollar hitting base metals and pushing zinc and tin away from their highest levels in more than a year.
- Oil prices fell early as an unexpected build in U.S. crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry.
- US corn fell for a second consecutive session as ample global supplies pushed prices towards a one-week low, although mixed findings from a widely watched U.S. crop tour curbed losses.
Aug 23 - Gold edged lower, dropping for a third day, as investors are reducing their exposure to the yellow metal as the U.S. may raise interest rates as early as September.
- London copper edged higher on support from a softer U.S. dollar, but the metal was still hanging near six-week lows as swelling supply kept a tight lid on its price prospects.
- Chicago soybeans futures lost ground, while corn slid for a second session, with renewed pressure on prices after a U.S. government report showed both crops thriving in near-perfect weather.
Aug 22 - Gold fell to its lowest in nearly two weeks as the dollar strengthened after comments from U.S. Federal Reserve officials increased bets on a U.S. rate hike this year.
- Oil prices fell as analysts doubted upcoming producer talks would rein in oversupply, saying that Brent would likely fall back below $50 a barrel as August's more than 20-percent crude rally looks overblown.
- London copper edged down as glut-hit China ramped up its exports of the metal.
- Chicago soybeans futures edged up after declining for two sessions, although gains were limited by expectations of historically high U.S. production.
Aug 19 - Brent crude oil prices rose above $51 a barrel to hit an eight-week high and was on track to rise for a seventh trading day, as hopes that producers could agree measures to support crude buoyed sentiment.
- Gold fell for the first time this week as hawkish comments from U.S. Federal Reserve officials renewed bets on a U.S. rate hike this year, but was still on track to end the week with modest gains.
- The dollar wallowed close to eight-week lows against the euro, and was poised for weekly losses against its major counterparts.
- London aluminium futures held near their strongest level in 13 months, propped up by firm demand and tighter supply in top market China.
- Chicago soybeans slid for a second session as the market was weighed down by prospects of an all-time high U.S. crop, while corn was little changed after hitting a three-week top on a short-covering bounce.
Aug 17 - Oil prices fell away from 5-week highs, as analysts doubted possible producer talks to rein in ballooning oversupply would be successful.
- Gold edged lower, while the dollar rebounded from 7-week lows against the yen, as hawkish comments from U.S. Federal Reserve officials raised bets on a rate hike this year.
- London copper drifted lower as northern hemisphere summer holidays drained markets of liquidity and direction, with some weight coming from a dollar rebound.
- Chicago soybeans eased for a second session as expectations of near record U.S. production pressured the market, but strong demand from top importer China limited losses.
Aug 17 - UK watchdog says may revoke ICE's $650 mln Trayport takeover
Financial and commodity markets operator Intercontinental Exchange should consider reversing its $650 million takeover of commodities trading software house Trayport to avoid reducing competition in European energy trading markets, Britain's competition watchdog said on Tuesday. ICE beat arch-rival CME Group to buy London-based Trayport in December last year but the UK's Competition and Markets Authority (CMA) launched an in-depth investigation in May after deciding that the tie-up might be expected to result in a substantial lessening of competition.
Aug 16 - Oil prices edged away from 5-week highs, with traders cashing in on a 16-percent rally since early August that has largely been fuelled by talk of producers taking action to prop up the market.
- Gold rose for a second day as the dollar hit a one-month low against the yen, staying on the defensive after recent U.S. economic data were seen likely to limit the prospects of a near-term Fed interest rate hike.
- London copper was treading water near its weakest in a month on a seasonal lull in appetite and shaky prospects for China demand-growth, with traders also looking ahead to a slew of U.S. economic reports.
- Chicago soybean futures edged lower, pressured by the stable condition of the U.S. crop, after climbing earlier in the session to their highest in more than three weeks.
Aug 15 - Oil prices edged up and have risen more than 10 percent since the start of the month as speculation intensifies about potential producer action to support prices in an oversupplied market.
- Gold held steady as sluggish U.S. retail sales data on Friday lowered expectations of a near-term interest rate hike by the Federal Reserve.
- London copper was stuck near its weakest in a month as ebbing economic growth in China and the United States tainted its demand outlook, at a time of already slow northern hemisphere summer demand.
- The dollar was on the defensive, pressured by downbeat U.S. data.
- U.S. soybean futures climbed more than 1 percent, recovering from losses in the previous session after the U.S. Department of Agriculture projected a record harvest, with demand from top market China seen staying strong.
Aug 12 - Oil prices rose by around 1 percent, extending gains from the previous session on expectations that exporters could talk at an upcoming meeting about ways to prop up a market that continues to be dogged by a supply overhang.
- Gold eased as the dollar stayed firm, but the metal was on track to end a volatile week slightly higher.
- London copper slipped back toward four-week lows after a string of China data missed expectations, but was still targeting a small weekly advance, cushioned by a weaker dollar.
- U.S. soybeans rose as strong export demand pushed the oilseed towards a weekly gain of nearly 1.5 percent.
- The dollar held firm, supported by comments from a senior Federal Reserve official suggesting a U.S. interest rate increase this year is still a real possibility as inflation pressures emerge.
Aug 11 - Oil prices fell early as a build in U.S. crude inventories and record Saudi Arabian production weighed on markets.
- Gold fell for the first time after rising in the previous two sessions, as investors cashed in recent gains and a recovery in the dollar added to the metal's current volatility.
- London nickel fell from a one-year high hit in the previous session as traders booked profits on the near completion of a Philippine mine review, while copper held steady not far from four-week lows.
- U.S. soybeans edged higher, but gains were curbed as forecasts for favourable weather across the U.S. Midwest stoked the outlook for supply.
- The New Zealand dollar surged to its highest level in more than a year after the Reserve Bank of New Zealand cut interest rates as expected, disappointing some who had been betting on more aggressive easing.
Aug 10 - Oil prices dipped as a global supply overhang weighed on markets, while talk of a potential producer meeting to discuss propping up prices lent some support but was met with scepticism by analysts.
- Gold rose for a second day as investors sought hard assets amid a drop in the dollar after a report of weaker U.S. economic data increased expectations that the Federal Reserve would not raise interest rates in the short-term.
- London copper edged up as the dollar eased, but stayed close to its weakest level in four weeks as persistent signs of oversupply amid tepid Chinese demand growth weigh on prices.
- U.S. soybeans rose more than 0.5 percent to extend gains into a sixth session as demand for U.S. supplies pushed the oilseed towards its longest unbroken rally in five months.
- The dollar fell against the yen as retreating Tokyo stocks drove safe-haven bids for the yen, while bargain hunting helped the battered pound crawl away from its one-month low.
Aug 09 - Crude prices edged lower on continued worries over a global oil glut and as investors took profits on gains of nearly 3 percent from the previous session, beating down upwards momentum from a possible meeting of oil producers.
- Gold held steady after recovering from one-week lows hit the day before, with investors using the price correction to hunt for bargains on hopes of more economic stimulus from central banks.
- London copper drifted as inflation in China eased in July, highlighting worries about the health of the world's top copper consumer after imports fell last month.
- U.S. soybeans rose for a fifth straight session, lingering near a one-week high touched during the previous session, as recent strong export demand for U.S. supplies supported prices.
- Sterling skidded in Asia on speculation of further UK policy easing, while the dollar held its ground amid growing confidence that the U.S. Federal Reserve could raise interest rates later this year.
Aug 08 - Commodity slump hits Q1 profits at Japanese trading firms
A prolonged slump in commodity prices and a strong post-Brexit-vote yen has hit the April to June profits at Japanese trading houses, forcing them into cautious outlooks going forward. But some of the companies - which suffered massive writedowns on their metals and energy assets in the fiscal year to March 31 - may be starting to seek opportunities to take advantage of cheaper resource opportunities and lower development costs.
Aug 08 - Chinese buyers bought $27 billion worth of U.S. residential real estate last year according Central Banks.
- Oil prices rose in early trading, lifted by reports of renewed talks by some members of the Organization of the Petroleum Exporting Countries (OPEC) to restrain output.
- Gold hovered near one-week lows, after falling about 2 percent in the previous session, as a stronger-than-expected U.S. jobs report likely increased the possibility of a rate hike this year by the Federal Reserve.
- London copper edged away from a four-week low after a solid jobs report boosted prospects the U.S. Federal Reserve could still raise rates this year, and ahead of China trade data that could shed light on its appetite for metals.
- U.S. soybeans rose for a fourth straight session, the longest unbroken rally in nearly four months, as strong export demand pushed the oilseed to a one-week high.
- The dollar strengthened against the yen, extending its gains after strong U.S. job figures bolstered expectations of faster economic growth and raised the probability of a Federal Reserve interest rate increase this year.
Aug 05 - Oil prices fell as a crude and refined product glut weighed on markets and investors eyed a possible stutter in China's imports, ending a two-day short-covering rally.
- Gold held steady as investors awaited U.S. jobs data due later in the day, and the precious metal remained on course for a second straight weekly gain.
- London copper was little changed in thin summer trade on Friday but was eyeing its biggest weekly loss in four weeks, as traders cut positions ahead of a U.S. jobs report and on the prospects of rising supply.
- U.S. soybeans rose more than 1 percent as strong demand for U.S. supplies pushed it to a four-day high, but it was poised for weekly losses of more than 3 percent as favourable weather forecasts boosted supply expectations.
- The dollar held steady with its near-term fortunes riding on whether U.S. jobs data will rekindle expectations for the Federal Reserve to raise interest rates this year.
Aug 04 - Oil prices rose, extending gains from the previous session following a large draw in U.S. gasoline inventories and a big drop in the dollar since the end of July.
- Gold slipped further as the dollar firmed on the back of strong economic data and Asian stocks ticked up ahead of the Bank of England's expected rate cut later in the day.
- London copper edged down but held above a three week low in the previous session, as metals marked time ahead of Friday's non-farms report.
- U.S. soybeans rose for a second session, drawing support from international demand for U.S. supplies, though favourable weather forecasts for key producing regions capped the rally.
- The dollar held steady above a recent six-week low, while sterling stayed in a tight range with expectations running high that the Bank of England will cut interest rates for the first time since 2009 in a bid to ward off recession.
Aug 03 - Oil prices edged up in early trading, supported by a weaker dollar, but U.S. crude futures remained below $40 per barrel and Brent was below $42 as ongoing fuel oversupply and stuttering economic growth weighed on markets.
- Gold held on to the previous session's gains as Asian stocks stumbled and weak U.S. economic data undermined expectations of a near-term interest rate hike.
- London copper was steady, underpinned by a weaker dollar but Shanghai metals slipped after China said it was considering easing monetary policy but didn't specify when.
- U.S. soybeans rose for the first time in three sessions, edging up from a near four-month low, although expectations of bumper supplies provided a ceiling to gains.
- The dollar struggled near 6-week lows against a basket of currencies due expectations that the U.S. Federal Reserve will raise interest rates later rather than sooner.
Aug 02 - Oil prices edged up in early trading after U.S. crude broke below $40 per barrel the previous session, but traders said fuel markets continued to be dogged by excess production.
- Gold eased as the dollar firmed, even as expectations of a near-term U.S. interest rate hike lost steam after last week's disappointing U.S. growth figures.
- London copper was stuck in the summer doldrums after a glimmer of an improvement at smaller Chinese factories in July was offset by modest reports on global manufacturing elsewhere, dampening optimism over demand.
- U.S. corn fell to a near two-year low, slipping for a second session after the U.S. Department of Agriculture pegged the condition of the crop at above market expectations.
- The dollar hovered near three-week lows after soft U.S. economic data undermined the case for an early Federal Reserve rate hike while the Australian dollar braced for the probability of a policy easing later in the day.
Aug 01 - Oil rose, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook.
- Gold remained steady, after rising over one percent to a near 3-week high in the previous session, as disappointing U.S. growth figures last week bolstered safe-haven demand.
- London copper edged lower after a report showed that activity picked up at China's small to medium size factories in July, but which also blunted the case for further stimulus.
- U.S. soybeans fell 1 percent, retreating from a one-week high touched in the previous session, as ample global supplies offset recent support from strong demand for U.S. shipments of the grain.
- The dollar pulled away from lows it hit following disappointing U.S. growth figures late last week, while the yen pared some of the large gains it made after the Bank of Japan unveiled a much smaller stimulus than was expected.
Jul 29 - Oil prices remained around April lows as slowing economic growth threatened to worsen ongoing oversupply of crude and refined products.
- Gold inched higher, on track for a gain of more than one percent in July, as the dollar extended its losses after the Bank of Japan's stimulus fell short of market expectations.
- London nickel fell but was still on track for gains of more than 12 percent in July as the Philippines cracks down on polluting mines, while copper was set for a modest monthly rise.
- U.S. soybeans edged higher, but the oilseed was poised for its biggest one-month fall in more than two years as fears of potential yield losses amid unfavourable weather ease.
- The safe-haven yen jumped against the dollar after the Bank of Japan's modest monetary policy easing disappointed investors who had been hoping for more radical stimulus measures.
Jul 28 - Oil prices recovered slightly from April lows, but the outlook for the industry remained weak as crude producers and fuel refiners continue to pump out more than the market can consume.
- Gold held steady, clinging to gains from the previous session when it rose 1.5 percent to a two-week high on a weaker dollar after the U.S. Federal Reserve left interest rates unchanged.
- London copper climbed away from its lowest in nearly a fortnight as the dollar fell after the U.S. Federal Reserve stopped short of signalling a near-term interest rate rise, spurring investors to buy hard assets such as commodities.
- U.S. soybeans rose to an almost one-week high, as concerns over potential adverse weather across the Midwest underpinned prices.
- The yen gained on speculation that the Bank of Japan won't deliver radical stimulus this week, while the dollar took a step back after the U.S. Federal Reserve stopped short of signalling a near-term rate rise.
Jul 27 - Oil prices dipped in Asian trading as plentiful supplies and slowing economic growth weighed on markets, although some analysts said that the current downtrend would be modest and see a recovery later this year.
- Gold edged slightly lower as the dollar and equities firmed ahead of the U.S. Federal Reserve's policy decision due later in the day.
- London copper edged down but held above one-week lows hit in the previous session ahead of the outcome of the U.S. Federal Reserve meeting where it is expected to hold rates, keeping costs lower for capital-intensive commodities.
- Chicago wheat rose as the market recovered from a more than three percent fall in the previous session, supported by a widely watched crop tour that found lower U.S. spring wheat yield prospects.
- The yen fell, pressured by expectations of significant monetary stimulus by the Bank of Japan and amid a media report the government will soon unveil a $255 billion stimulus package.
July 26 - Oil prices rebounded from over three-month lows, lifted by a drop in the dollar, but concerns of ongoing oversupply weighed on markets and many traders are raising their bets on further price falls.
- Gold was mostly unchanged, after dropping over the past two sessions, as investors remained cautious ahead of a Federal Reserve meeting that starts later in the day.
- London copper was trapped near a one-week low as the appetite for risk among investorsfell and volumes dwindled ahead of the U.S. Federal Reserve's policy meeting starting later in the session.
- Chicago soybeans ticked higher but were still holding close to last session's a three-month low as a U.S. government report showed the crop in a healthy condition.
- The dollar slipped ahead of the U.S. Federal Reserve's two-day policy meeting that begins later, while the yen gained despite expectations that the Bank of Japan will ease later this week as investors grow increasingly sceptical about the impact of further stimulus.
Jul 25 - Oil prices held near two-month lows amid worries that a global crude and refined product glut would weigh on markets for some time to come.
- Gold extended losses from the previous session as Asian stocks were at near nine-month highs on increasing risk appetite and ahead of central bank meetings in the United States and Japan this week.
- London copper inched higher as the metal was supported by the prospect of a protracted period of looser global central bank policy, but expectations for more supply kept a lid on prices.
- Chicago soybeans extended losses, trading near a three-month low hit in the previous session, as forecasts of near-perfect weather during next month's yield-determining phase for the U.S. crop dragged on prices.
- The dollar was buoyant against the yen and euro on Monday as the risk-on mood inspired by solid U.S. economic data and fading fallout from Brexit continued to lift the U.S. currency and assets.
Jul 22 - Crude oil futures rose in quiet Asian trading but gains were limited following big falls in the previous session as investors reassessed U.S. data underlining the glut in petroleum, while Iraqi crude exports are on the rise.
- Gold fell as investors cashed in profits following a 1.2 percent gain in the previous session on improving demand for the metal on signs U.S. and European central banks will continue loose monetary policies in the medium term.
- London zinc and nickel were set to log a second week of gains on Friday as traders bet that supply side constraints would lift prices already supported by expectations of easier central bank policy after Britain's decision to leave the euro zone.
- Chicago corn futures were on track for a fifth consecutive week of decline as an outlook for cooler temperature across the U.S. grain belt boosted expectations of a bumper crop.
- The yen hovered above six-week lows after comments from Bank of Japan Governor Haruhiko Kuroda dented speculation Japan may be preparing a radical "helicopter money" economic stimulus.
Jul 21 - Crude oil prices rose after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks, although a surprise build in gasoline supplies helped to cap the gains.
- Gold hit a three-week low, after falling more than 1 percent in the previous session, as investors looked to buy into rising equity markets rather than purchasing safe-haven assets.
- London copper edged higher, finding some support as the dollar eased from four-month highs and ahead of a breakdown of China trade data is expected to offer more insight into its commodity demand.
- Chicago corn edged higher as the market took a breather after dropping to a two-week low in the previous session on forecasts of favourable U.S. crop weather.
- The dollar climbed to a six-week high against safe-haven yen, as news of Japan's plans for an economic stimulus package and growing expectations for the Bank of Japan (BOJ) to ease policy helped support risk sentiment.
Jul 20 - Gold held steady as bullion found little impetus from weaker equities as the dollar rose to a four-month high on the back of better-than-expected U.S. housing data.
- London copper and nickel sank after a U.S. housing report pushed up the dollar and sparked profit-taking across the two metals, with copper also hit by evidence of mounting supply.
- Chicago soybeans lost more ground with prices sliding to a near two-week low as forecasts for rains across key growing regions in the U.S. Midwest eased concerns over this week's hot weather.
- The dollar gave up some of its recent gains against the yen, but it held close to four-month highs against a basket of currencies thanks to strong U.S. data and rising expectations that the Bank of Japan will take additional easing steps.
Jul 19 - Gold was mostly unchanged, holding on to its losses from the previous session as a pick up in investor appetite for risky assets capped demand for the precious metal.
- London nickel was near its highest level in 10 months on concerns of lower shipments from the Philippines to top user China, which has sparked a flurry of buying from investors.
- U.S. corn futures fell nearly 1 percent after the U.S. Department of Agriculture pegged the condition of the U.S. crop at above market expectations, though concerns over unfavourable weather provided a floor to losses.
- The dollar sagged against the yen on Tuesday as investors took profit after its recent rally, while the kiwi was dented by bets New Zealand's central bank could cut interest rates next month.
Jul 19 - Banks see more gains for gold, silver after Brexit vote - Poll
Britain's shock vote to leave the European Union has led analysts to raise their gold price forecasts again this year, after the decision shook up financial markets and sparked a rally in the precious metal to two-year highs. A poll of 25 analysts and traders over the last two weeks returned an average price forecast for this year of $1,280 an ounce, up from $1,209 in a similar survey in April, and nearly 15 percent higher than a poll at the start of the year. click here .
Jul 18 - Singapore's DBS to wind down commodity derivatives trading business
DBS Group Holdings, Singapore's biggest lender, said on Friday it will progressively wind down its commodity derivatives trading business over the next six months, becoming the latest bank to exit the capital-intensive business. DBS was part of a wave of Asia-focused banks that started commodities trading businesses at the start of this decade after the global financial crisis forced U.S. and European banks to scale back amid regulatory pressure and thinning margins. click here.
Jul 18 - Gold fell one percent before paring losses as the demand for safe-haven assets waned with a coup attempt in Turkey failing to deter risk sentiments.
- London copper fell for a second consecutive session, with a firmer dollar weighing on prices, although expectations of economic stimulus in top consumer China kept a floor under the market.
- Chicago corn rose one percent with the market snapping two sessions of declines as forecasts of hot and dry weather in the U.S. Midwest raised concerns about yield losses amid strong demand.
- The Turkish lira rose 3 percent against the dollar, extending a bounce after Turkish authorities thwarted a coup attempt over the weekend and calmed investor concerns about geopolitical risks.
Jul 15 - Gold prices dipped on a firmer dollar and surging Asian shares and were set for the first weekly decline since May, after falling to a two-week low in the previous session.
- Crude futures dipped in Asian trading on renewed concerns about a global oil glut, but losses were capped by slightly better than expected Chinese economic data.
- London copper edged up and was set for its biggest weekly gain in four months on steady economic growth in China and the prospect of delays to any interest rate hike in the United States.
- Chicago soybeans edged up as the market took a breather, after sliding almost 4 percent in the previous session on pressure from forecasts of crop-boosting rains in the U.S. Midwest.
- The yen fell broadly and hit a three-week low versus the dollar after China's second-quarter gross domestic product and June activity data pointed to stabilisation in China's economy and bolstered risk sentiment.
Jul 15 - China's provinces enlist banks to defy overcapacity cuts
China's provinces are pushing back against Beijing's efforts to restrict credit to loss-making enterprises with excess capacity, and are enlisting the support of local bankers to keep financing the targeted sectors, such as steel and coal.As part of China's economic efficiency goals, the State Council earlier this year set capacity reduction targets for regional and central government enterprises in such sectors, and China's banks have been ordered to slash lending to loss-making and delinquent corporate borrowers. click here .
Jul 15 - Impala prepares hedge fund to bet on commodity rebound
Impala Asset Management is forming a new hedge fund to bet on rising commodities prices, according to a letter sent to clients and seen by Reuters on Thursday.Impala, a $2 billion stock-focused hedge fund manager based in New Canaan, Connecticut, plans to launch the Impala Resource Fund on August 1 with no more than $125 million, according to the note, which was sent out to clients on Wednesday. click here.
Jul 14 - Gold slipped after rising nearly 1 percent in the previous session, as the dollar firmed and Asian stocks stayed near eight-month highs on expectations of an interest rate hike by the Bank of England.
- Crude prices rose to recoup some of their big losses from the previous session, but gains are likely to be limited by mounting concerns the global glut in oil.
- London copper was flat while and nickel slipped, after rallying in the previous session on expectations of new stimulus measures in major economies.
- Chicago corn futures rose 0.8 percent, while soybeans hovered near their highest in more than a week, with forecasts of hot and dry weather across U.S. Midwest raising concerns about global supplies.
- The yen surrendered its early gains in Asia, while sterling pushed higher but remained capped ahead of a Bank of England meeting.
Jul 13 - Gold edged up slightly after suffering its biggest fall in seven weeks, with global equities rallying on easing political uncertainty in Britain, which is set to get a new prime minister.
- Crude futures fell as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC that demand would increase next year.
- London copper surged through the $5,000 mark for the first time since late April, as renewed appetite for risk triggered a furious flurry of short-covering.
- Chicago soybeans edged lower as the market took a breather after last session's strong gains that were driven by forecasts of crop-damaging hot and dry weather across the U.S. Midwest.
- The yen clawed back some of this week's losses in Asian trading, after it sank to 2-1/2-week lows reached this week as the prospects for more economic stimulus in Japan helped bolster risk sentiment.
Jul 12 - Gold held near lows touched in the previous session as Asian stocks rallied and markets assessed whether the latest U.S. jobs data has boosted the prospects for an interest rate hike by the U.S. Federal Reserve.
- Oil futures rose as an interruption in Iraqi crude loadings at Basra threatened to tighten supplies, but prices held close to two-month lows hit in the previous session as investors continued to slash their bullish bets.
- London nickel and copper rose for a third day on Philippine supply concerns, and after investors took heart from a robust U.S. labour report.
- Chicago soybean futures gained, rising for two out of three sessions with prices underpinned by concerns over hot and dry weather curbing U.S. crop yields.
- The yen hit a one-week low versus the dollar, after a weekend election victory by Japan's ruling coalition fanned expectations of more economic stimulus and bolstered risk sentiment.
Jul 11 - Oil fell over signs that U.S. shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia.
- Gold prices rose slightly, underpinned by uncertainty following Britain's Brexit vote even as equity markets rallied on the back of upbeat U.S. jobs data.
- London nickel took another shot at the $10,000 mark as prices gained steam on supply concerns after the Philippines toughened its stance on mining, threatening supply to China.
- The safe-haven yen fell amid an improvement in investor risk appetite following a surge in Tokyo stocks, but traders said the greenback will be capped longer term by views the Federal Reserve will remain cautious on interest rates.
- Chicago corn futures climbed to a 10-day high, while soybeans gained for a second session with prices underpinned by forecasts of hot and dry weather for the key U.S. Midwest producing region.
Jul 08 - Oil prices rebounded, bouncing off two-month lows hit in the previous session when prices fell 5 percent on news that the U.S. weekly crude draw missed some forecasts.
- Gold edged down as investors turned cautious ahead of U.S. jobs data later in the day, but the precious metal remained on course for a sixth consecutive weekly gain.
- London copper futures ticked higher as upbeat U.S. economic data boosted expectations ahead of a crucial jobs report, but the industrial metal is still heading for its biggest weekly loss in two months amid high stockpiles.
- The dollar edged down against most major currencies in Asian trade but remained on track for a weekly gain, as investors awaited U.S. jobs data later in the session to see if the labour market is stronger than previous surveys indicated.
- Chicago soybean futures were set for their biggest weekly decline since June 2014 as near-perfect U.S. weather boosted the prospects of a bumper crop.
Jul 07 - Oil prices rose in early trading, supported by a report of another fall in U.S. crude inventories as well as a weaker dollar, although a glut of refined products and economic growth concerns continue to weigh on markets.
- Gold rose for a seventh straight session after touching its highest in more than two years in the previous session as investors are still seeking safe-haven assets even as stock markets bounced back in Asian trade.
- London copper futures edged higher, snapping three days of declines, in the wake of strong U.S. economic data, although indications of slow demand kept a lid on gains after inventories of the industrial metal touched a five-month high.
- The Australian dollar withered after Standard and Poor's cut the outlook for that country's credit rating to negative, while the safe-haven yen firmed in the fallout from Britain's vote last month to exit the European Union.
- U.S. corn and soybean futures rebounded following a selloff in the prior session pinned on favourable weather that boosted hopes for a bountiful harvest in the fall.
Jul 06 - Oil prices fell in Asian trading amid wider market turmoil set off by mounting concerns over the economic impact of Britain's vote to leave the European Union.
- Gold rose as much as 1 percent, hitting the highest in more than two years, as investors piled back into safe havens such as bullion amid renewed market jitters over Britain's decision to leave the European Union.
- London copper futures held below a two-month high as investors kept their hands off risky assets amid renewed worries over the global impact of Britain's exit from the European Union (EU).
- Sterling carved out a fresh 31-year trough while the safe-haven yen soared on heightening fears of the broader impact of Britain's vote last month to exit the European Union.
- U.S corn fell for a fifth consecutive session as favourable weather forecasts added to expectations of bumper supplies.
Jul 05 - Crude prices dipped in early trading, with Brent falling back below $50 per barrel as economic concerns took centre stage with many analysts saying oil demand will stall later this year.
- Gold gave up most of its gains after soaring to a near two-year peak in the previous session, as the market pulled back with the yellow metal failing to break a key resistance level.
- Copper slipped for a second consecutive session, with prices retreating from a two-month peak on concerns over Chinese demand in the second half of the year.
- The Australian dollar inched lower as investors braced for the central bank to potentially signal an imminent easing at its review later in the day, while the safe-haven yen got a lift from worrying signs in China's service sector.
Jul 04 - Oil futures were steady following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed.
- Gold eased off a near two-year high, while silver breached the $21 level for the first time since July 2014 in highly volatile trade, prompted by a burst of short-covering in China.
- London copper rose for a sixth consecutive session with the market climbing to a two-month top on expectations of stimulus measures in top consumer China.
- The Australian dollar got off to a rocky start on heightened political uncertainty at home while diminishing global anxiety over Brexit put sterling and the other major currencies on a steadier footing.
- U.S. wheat futures sank to multi-year lows on Friday, pressured by an ample global stockpile that was expected to grow even larger due to a bountiful harvest, traders said.
Jul 01 - Oil prices rose, with Brent jumping back above $50 per barrel, as investors positioned themselves for more price increases this year in expectation of a tighter market.
- Gold rose and was headed for its fifth straight weekly gain, boosted by a weaker dollar as the safe-haven asset continued to be in demand despite an increase in risk appetite post the Brexit vote.
- London copper was on track for a third week of gains as expectations of monetary stimulus and lower interest rates underpinned the market, although gains were capped by concerns over growth in top consumer China.
- Sterling stayed on the defensive after unambiguously dovish comments from the Bank of England abruptly ended a tentative recovery in the currency, while the euro wobbled on speculation of more stimulus in Europe.
- U.S. wheat lost more ground with the market set for a fourth week of decline, as a U.S. Department of Agriculture (USDA) report that pegged plantings above expectations dragged on prices.