Foreign Exchange News
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.
Jun 29 - Oil rose as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply.
- Gold rebounded from its losses in the previous session on investor demands for safety as uncertainty because of Britain's vote to exit the European Union continued to pressure financial markets.
- London copper edged to its highest in almost eight weeks as investors bet on more global stimulus measures after Britain's shock vote to leave the European Union.
- The pound and the euro hovered above their post-Brexit lows as a brief short-covering spell lent a semblance of stability to the battered European currencies, though they remained hampered by longer term uncertainty.
- U.S. soybeans slid with the market snapping two sessions of strong gains on expectations that a U.S. government report will show farmers increased acreage for this year's soybean crop.
Jun 28 - Oil prices rose in early trading in Asia as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets.
- Gold fell as investors opted to book profits, after the yellow metal traded near the highest since July 2014, buoyed by safe-haven demand after global stock markets plummeted in the wake of Britain's decision to exit the European Union.
- London copper climbed as the dollar slipped and markets continued to digest the implications of Britain's vote to exit the European Union.
- The dollar and yen steadied and sterling crawled away from a 31-year low as risk aversion triggered by the shock of Brexit eased slightly, although many investors were still wary of calling a bottom for the battered pound.
- Chicago corn futures lost ground, falling for a sixth out of seven sessions, as a U.S. government report showed healthy crop conditions despite concerns over dry weather.
Jun 27 - Oil prices dropped, extending sharp declines while,,,
- Gold climbed as investors sought refuge in the safe-haven Britain's vote to leave the European Union sparked a sharp selloff in global markets on Friday.
- London copper was little changed as caution dominated the market and,,,
- the £ pound remained under siege, sliding back toward a 31-year low, reflecting the deeply bearish mood of investors after Britain opted to exit the European Union, triggering shockwaves across global markets.
- Chicago soybeans rose 1.7 percent on expectations of strong Chinese demand and concerns about the U.S. weather underpinning the market.
Jun 24 - Oil prices slumped by more than 6 percent after results of a landmark referendum showed Britain had voted to leave the European Union, causing huge market uncertainty and fracturing European efforts to forge greater unity.
- Gold jumped 4 percent to above $1,300 an ounce after partial results in a UK referendum put Britain on the brink of leaving the European Union, boosting the appetite for safe-haven assets.
- London copper fell and selling spilled into other metals, after results from Britain's referendum signalled it was on a path to leave the European Union.
- Sterling suffered its most volatile session in living memory and hit its lowest level since the 1985 Plaza Accord as Britain voted to leave the European Union, triggering a rush into safe-havens such as the yen and the dollar.
- Chicago corn futures were on track to post their biggest weekly loss in three years as improving U.S. crop weather prompted investors to liquidate long positions.
Jun 23 - Oil prices rose in Asian trading, shrugging off a smaller-than-expected decline in U.S. stockpiles, as the market nervously awaited the result of Britain's "Brexit" vote.
- Gold held steady after touching a fresh two-week low on cautious optimism that British voters would opt to stay in the European Union at the referendum later in the session.
- London copper floated near its highest in more than two weeks on a softer dollar, but gains were capped as Britain geared up to vote on whether to leave the European Union.
- The pound advanced to a six-month high against the dollar after the latest polls favoured Britain remaining in the European Union, just hours before referendum voting was due to open.
- Chicago corn slid for a fourth session with the market hitting its lowest in more than a month as widespread rains across the U.S. Midwest lifted crop prospects.
Jun 22 - Oil prices rose in early Asian trading, with U.S. crude joining Brent above $50 a barrel after data from the American Petroleum Institute (API) showed a larger than expected draw on stocks.
- Gold hovered near its lowest in over a week as Asian stocks rose amid indications that Britain would vote to remain in the European Union.
- London copper held its ground ahead of Britain's referendum on its future in the European Union, with caution setting in following a rise in risk-appetite in recent days on polls suggesting the country was increasingly likely to remain an EU member.
- Chicago corn edged up after hitting a near one-month low earlier in the session on headwinds from improving prospects for the U.S. crop.
- The dollar erased its early modest gains while sterling stood tall on the eve of Britain's referendum on whether to remain in the European Union.
Jun 21 - Oil prices fell in Asian trade after a strong two-day rally that was fed by easing concerns Britain would leave the European Union after a referendum this week, allowing market participants to focus on supply issues.
- Gold was down for a second session as Asian shares extended a rally on growing expectations that Britain would opt to remain in the European Union in a referendum later this week.
- London copper slipped, as worries about global oversupply eclipsed support from a softer dollar and polls suggesting that Britain will remain in the European Union.
- The British pound eased against the dollar, a day after posting its biggest daily gain in 7 years on the back of opinion polls that swung in favour of the campaign for Britain to stay in the European Union.
- U.S. corn fell to its lowest in more than a fortnight after the U.S. Department of Agriculture rated the Midwest corn crop in better condition than the market had anticipated after a spate of hot weather.
Jun 20 - Oil extended gains in Asian trading as a weaker dollar and easing worries over Britain's possible exit from the European Union helped support crude.
- Gold fell over 1 percent, after registering its biggest one-day gain in two weeks in the previous session, easting on on indications that Britain could opt to remain in the European Union in a referendum later this week.
- London copper held above four-month lows as the dollar weakened following comments by a Federal Reserve official suggesting fewer U.S. interest rate hikes were on the cards.
- Sterling rallied as opinion polls swung in favour of British voters opting to remain in the European Union at this week's referendum, underpinning risk sentiment and sending the perceived safe-haven yen tumbling.
- Soybean prices fell as worries about weather eased and traders booked profits ahead of a U.S. government report that is expected to shed fresh light on crop conditions in the U.S. Midwest producing region.
Jun 17 - Crude oil prices rose in early Asian trade for the first time in seven days as markets took a breather from concerns about the impact of Britain's possible exit from the European Union.
- Gold rose after registering its biggest one-day fall since May 24 in the previous session, supported by a softer dollar and headed for a third straight weekly gain.
- London copper rose, moving away from its lowest in nearly four months as the dollar paused after recent gains, but volumes were thin as trading slows into the northern hemisphere summer.
- The yen held at multi-year highs against the dollar and euro early, having surged across the board after the Bank of Japan refrained from adding fresh stimulus while sterling staged a rebound in a volatile session.
- Chicago soybean futures were set for a weekly decline after nine weeks of strong gains as concerns over dry weather eased in key producing area the U.S. Midwest.
Jun 17 - Morgan Stanley global commodities co-head Peter Sherk to leave firm
Morgan Stanley global commodities group co-head Peter Sherk is leaving the firm, the bank said Thursday in a memo. Nancy King, who co-heads the business, will become sole head. A Morgan Stanley spokesman confirmed the contents in the memo. click here.
Jun 16 - Oil prices fell in early Asian trade, heading for a sixth day of declines, following a lower than expected draw on U.S. stockpiles and amid worries Britain might leave the European Union.
- Gold topped the $1,300 level for the first time since early May, after the U.S. Federal Reserve indicated it could be less aggressive in tightening monetary policy next year.
- London copper futures clung to gains from the previous session, when it rose the most since March after the U.S. Federal Reserve signalled a slower pace of monetary tightening, boosting appetite for risky assets.
- The dollar hit a 21-month low against the yen as the yen surged broadly after the Bank of Japan held off from expanding its monetary stimulus.
- Chicago corn futures slid for a second session while soybeans lost more ground as much-needed rains across the U.S. Midwest boosted the outlook for crops.
Jun 15 - Crude futures fell as mounting concerns about Britain's possible exit from the European Union and a surprise build in U.S. inventories left investors ignoring an IEA declaration that oil markets are now in balance.
- Gold fell slightly on, after touching a near six-week high in the previous session, as the market awaited the U.S. Federal Reserve's policy statement amid concerns about a potential British exit from the European Union.
- London copper futures steadied as investors exercised caution ahead of the outcome of the U.S. Federal Reserve's policy meeting and a looming British vote on exiting the European Union.
- The euro nursed losses against the dollar as the benchmark German government bond yield turned negative for the first time due to worries that Britain might vote next week to leave the European Union, while investors stayed cautions ahead of a Federal Reserve's policy decision later in the global day.
- Chicago soybeans rose for a second session, remaining close to a two-year peak due to concerns over a dry growing-season in the U.S. Midwest and following crop losses in Argentina.
Jun 14 - Crude oil futures fell in Asian trade, as investors ignored signs of market tightness to focus on concerns over global growth and overnight declines in stocks on the impending vote on Britain's possible European Union exit.
- Gold inched down but stayed near a four-week high touched in the previous session as investors waited for clues from a two-day U.S. Federal Reserve meeting beginning later in the day and Britain's June 23 vote on whether to leave the European Union.
- London copper rose for a second session with a weak U.S. dollar and declining inventories underpinning prices, although gains were capped as investors awaited the outcome of a U.S. Federal Reserve meeting later in the week.
- The British pound remained fragile near a two-month low against the dollar and the yen hovered near six-week highs against the U.S. currency on worries Britain may leave the European Union in a referendum less than 10 days away.
- Chicago corn slid more than 1 percent to give up some of the previous session's gains, with a U.S. report indicating a better-than-expected condition for this year's crop.
Jun 13 - Oil prices fell in early trading, pulled down by rising economic concerns in Asia and a related strengthening in the U.S. dollar, which makes fuel imports for countries using other currencies more expensive.
- Gold held steady after hitting its highest in nearly four weeks, supported by a softer dollar and a slide in Asian stocks ahead of key central bank meetings this week and Britain's June 23 referendum on its European Union membership.
- London copper rose more than 1 percent, recovering from a four-month low touched last week in cautious trade ahead of central bank meetings in the United States, Europe and Japan.
- US corn rallied 2.5 percent and soybeans gained almost 1 percent, with prices supported by concerns over a severe drought in Brazil and unseasonal rains in Argentina curbing global supplies.
- The British pound fell to an eight-week low against the dollar ahead of a referendum that could pull Britain out of the European Union.
Jun 09 - Oil prices remained near 2016 highs in early trading, buoyed by a fall in U.S. crude inventories, a weaker dollar and strong demand, but some analysts warned that the recent rally was starting to look overblown.
- Gold hit a fresh three-week high, after jumping 1.5 percent overnight, helped by a weaker dollar and diminishing expectations of an early interest rate hike by the U.S. Federal Reserve.
- London copper rose as the dollar stayed weak on expectations of a delayed rate hike by the Federal Reserve with a two-day holiday in China draining volumes and direction from metals.
- The New Zealand dollar took centre stage, surging to a one-year high after the Reserve Bank of New Zealand kept interest rates unchanged, surprising some investors who had been betting on a rate cut.
- U.S. soybeans gained for a fourth consecutive session, trading close to a two-year top as the market was buoyed by forecasts of a dry growing season in the United States.
Jun 08 - Oil prices rose for a third day to their highest in about eight months, helped by industry data showing a larger-than-expected drawdown in U.S. crude inventories, worries about attacks on Nigeria's oil industry and strong Chinese demand.
- Gold touched a fresh two-week high as the possibility of an early U.S. interest rate hike appeared to dim following dovish comments by Federal Reserve chair Janet Yellen earlier this week.
- London copper edged away from near its lowest level in fortnight as the dollar fell and after hefty stock builds in Asian warehouses underlined the tepid state of Chinese demand.
- Chicago soybean futures rose for a third consecutive session, with prices underpinned by forecasts of hot and dry weather during the U.S. summer growing season.
Jun 07 - Brent crude prices inched lower after hitting a seven-month high a day earlier, but market momentum appeared strong on a weak dollar, French refinery restarts, Nigerian oil infrastructure attacks and falling U.S. crude inventories.
- Gold slipped but held near two-week highs as the metal was underpinned by cautious remarks by Federal Reserve chair Janet Yellen, who gave little indication about the timing of U.S. rate increases.
- The dollar edged up but still wallowed close to four-week lows against a basket of currencies, after Federal Reserve Chair Janet Yellen's remarks failed to toss a lifebuoy to the recently foundering greenback.
- London copper came off a touch but remained near four-week highs as the dollar stayed under pressure after Federal Reserve Chair Janet Yellen said a rate hike was on the horizon but did not specify when.
- Chicago soybeans rose for a second session as the market was underpinned by importers locking in U.S. cargoes in the face of tight South American supplies following adverse weather.
Jun 03 - Brent oil prices held around $50 a barrel following an OPEC meeting that failed to agree on output targets, but which was seen as supportive as Saudi Arabia pledged not to flood the market with more fuel.
- Gold was nearly unchanged but headed for a fifth consecutive weekly decline, as the dollar and Asian stocks held firm and the market awaited U.S. nonfarm payroll data.
- The euro wallowed near a three-year low against the yen, after investors were underwhelmed by the European Central Bank's decision to refrain from making any material changes to its policy mix.
- London copper was little changed, but heading for a 2 percent weekly drop as a stronger dollar and ebbing seasonal demand from top consumer China undermined prices.
- U.S. soybean futures climbed to a two-year high with the market poised for its biggest weekly gain in 19 months as fears of further crop losses in Argentina underpinned the market.
Jun 02 - Oil prices were steady on mixed market signals ahead of an OPEC meeting in Vienna, which analysts said was not expected to result in restrictions on crude output.
- Gold inched up on the back of a weaker dollar, as investors assess whether the latest set of U.S. economic data will boost the prospect of an early interest rate hike by the Federal Reserve.
- The yen sat on top of large gains against its peers after surging on risk aversion and disappointment over lack of clear policy guidance by Japan following a decision to delay a consumption tax hike.
- London copper held above one-week lows after patchy U.S. factory growth in May dragged down the dollar, but traders said prices may consolidate at lower levels in the absence of fresh drivers of demand.
- U.S. soybean futures rose to their highest in almost two years, while corn climbed to a 10-month peak with prices in agricultural markets underpinned by lower supplies.
Jun 01 - Oil prices fell as production from the major Middle East exporters was expected to remain high or even increase just as concerns over the state of China's economy weighed on its fuel demand outlook.
- Gold held steady after closing higher for the first time in 10 sessions the previous day, supported by an easing dollar and weaker Asian stocks.
- The dollar sat just below a two-month high against a basket of major currencies after a mixed bag of U.S. economic data slightly tempered expectations of a near-term Federal Reserve rate hike.
- London copper fell, taking a hit from a strong dollar after U.S. consumer spending blew past expectations and raised prospects of an interest rate rise soon, and a mixed outlook for China's manufacturing growth in May.
- Chicago soybean and corn futures slid for a second session as both markets came under pressure from rapidly progressing planting across the U.S. Midwest.
May 31 - Oil prices were lifted early by the start of the peak demand summer driving season, although international fuel markets were weighed down by rising output in the Middle East, which mostly serves Asian customers.
- Gold edged higher after falling to a 3-1/2 month low in the prior session but the yellow metal remained on track for its biggest monthly decline since November on the back of broad strength in the dollar.
- London copper fell, on track for a more than 7 percent decline in May, the biggest monthly drop since November.
- US soybean futures gained more ground, with the market set to rise for third consecutive month in May on support from lower South American production.
May 30 - Oil prices dipped and gold fell below $1,200 for the first time in more than three months,while Shanghai copper eased in thin trading as the dollar hit its highest since April-end against the yen after U.S. Federal Reserve chief Janet Yellen said the central bank should raise interest rates. CBOT corn futures rose about 1 percent on Friday to the highest level in 10 months on strong export demand and short-covering.
May 27 - Oil futures slipped in Asian trade after hitting resistance at the $50 a barrel mark as investors worried higher prices could reactivate shuttered crude output, adding to global oversupply.
- Gold dipped to its lowest in almost eight weeks and was heading for its biggest weekly decline in nine, with positive economic data boosting expectations that U.S. interest rates will rise in the next two months.
- The dollar stayed in consolidation mode after its rally to two-month highs ran out of steam with bulls looking for fresh guidance from the head of the U.S. central bank.
- London copper fell, hit by expectations that a likely U.S. interest rate rise in the next two months will boost the dollar, as prices headed for their worst month in half a year.
- U.S. soybean prices rose with the market poised for a seventh consecutive week of gains, the longest such rally in seven years, boosted by production losses in key exporter Argentina.
May 26 - U.S. futures regulator adds hedging exemptions to position limit proposal
The U.S. futures contract market regulator moved closer on Thursday to finishing its rule on limiting positions that traders can hold in commodity markets, which is intended to head off oil and gas hedging abuse, by responding to industry concerns about "bona fide hedges." The three-member Commodity Futures Trading Commission unanimously approved a supplement to its 2013 proposal on position limits to "ensure that commercial end-users can continue to engage in bona fide hedging efficiently for risk management and price discovery," said Chairman Timothy Massad in a statement. click here.
May 26 - Brent oil futures climbed above $50 a barrel for the first time in nearly seven months, boosted after U.S. government figures showed a sharper-than-expected drawdown in crude stocks last week.
- Gold rose for the first session in seven as traders covered short positions, a day after the yellow metal slid to a seven-week low on expectations of an interest rate hike by the U.S. Federal Reserve, possibly next month.
- The yen surged, taking some of the wind out of the sails of the recently buoyant dollar and prompting investors to cover positions against a backdrop of potential event risks, including a speech by Federal Reserve chief Janet Yellen.
- London copper rose for a third session as a softer dollar lent support, but traders said prices could fall as factory demand from top user China slows ahead of summer.
- U.S. soybeans hit their highest in two weeks and soymeal jumped to an 18-month peak, with prices underpinned by concerns over lower supplies from key exporter Argentina.
May 25 - Oil futures pushed closer to $50 a barrel, with U.S. crude hitting its highest in over seven months after industry data suggested a larger-than-expected drawdown in U.S. crude inventories last week.
- Gold dropped to a seven-week low, driven by expectations of an early interest rate hike by the U.S. Federal Reserve.
- The dollar stood near a two-month peak against a basket of currencies after robust U.S. housing data supported the case for the Federal Reserve to raise interest rates in the near term.
- London copper rose for the second straight session, buoyed by brightening economic signals in the United States that forced shorts to cover, and showing near-term resilience to a persistently strong dollar.
- U.S. wheat futures rose for a second session with prices underpinned by forecasts of rains in the U.S. Plains which could potentially damage the maturing winter crop.
May 25 - China looking at opening up commodities futures markets - regulator
China may open up its commodities futures markets to overseas and financial investors, the country's securities regulator said, as the world's top consumer of many raw materials seeks to play a larger role in setting global commodities prices. China's commodities exchanges will also maintain a close eye on movements in the futures market, China Securities Regulatory Commission (CSRC) vice-chairman Fang Xinghai told a conference. click here.
May 24 - Oil prices fell in thin trade as the U.S. dollar strengthened, but losses were curbed by a likely drawdown in U.S. crude and gasoline stockpiles.
- Gold dipped to trade near a 3-1/2 week low hit in the previous session, pressured by expectations that the U.S Federal Reserve will raise interest rates sooner rather than later.
- The yen held on to gains, shored up by investors' risk aversion and receding expectations that Japan will weaken the currency after a fresh warning by the United States last week against intervention.
- London copper held near three-month lows, pressured by a firmer U.S. dollar following comments by Federal Reserve officials that have bolstered expectations of a June rate hike.
- Chicago soybean futures lost more ground, falling for four out five sessions as rapidly progressing planting across the U.S. Midwest prompted investors to liquidate some long positions.
May 23 - Oil prices slipped in Asian trade on a strong dollar and signs that global crude supply is holding up even as volumes hit by unplanned outages rise to at least five-year highs.
- Gold rose slightly as the dollar eased, but the metal continued to hold near three-week lows on growing expectations that the U.S. Federal Reserve will hike interest rates as early as June.
- The dollar fell versus the yen, dragged lower by sliding Tokyo stocks and data showing Japan logged a much larger-than-expected trade surplus in April.
- London copper was mired near three-month lows as the dollar held strong on expectations the United States could raise interest rates next month, boosting capital costs and encouraging investors to bet prices would fall further.
- Chicago wheat futures slid for a fourth consecutive session as the market was weighed down by ample global supplies and a strong dollar.
May 20 - Oil prices rose in early trading as turmoil in Nigeria, shale bankruptcies in the United States and crisis in Venezuela all contributed to tightening supplies.
- Gold steadied after two days of losses, but was set for its biggest weekly slide in eight weeks on the back of a firmer dollar and indications from the U.S. Federal Reserve that it could raise interest raise rates sooner than expected.
- The dollar held at its highest in nearly two months against a basket of major currencies, on track for a third week of gains as investors awaken to the risk of a hike in U.S. interest rates as early as next month.
- London copper was on track for a third weekly decline, undermined by a firmer dollar as better U.S. economic data boosted bets of a June rate hike, but the metal gleaned some support from signs of improvement in China's housing sector.
- U.S. soybeans were on track for a sixth consecutive week of gains as concerns over lower supplies from Argentina continued to buoy prices, although a strong dollar curbed their advance.
May 19 - Oil prices fell, pulled down by rising U.S. crude inventories, a stronger dollar and surging output from Iran to Europe and Asia.
- Gold was trading near a three-week low after minutes from a Federal Reserve policy meeting signalled the U.S. central bank could raise rates as soon as next month, boosting the dollar.
- The dollar stood tall and set a three-week high against the yen, after the minutes of the U.S. Federal Reserve's latest policy meeting rekindled expectations for a June interest rate hike.
- London copper fell to hold near its weakest since February, pushed down by a stronger dollar after the U.S. Federal Reserve signalled a possible rate hike as soon as next month.
- Chicago corn futures slid as a stronger dollar prompted investors to take profits after prices climbed to a near one-month peak in the last session.
May 18 - Oil prices were trading near 2016 highs, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still weighing on markets.
- Gold dropped after strong U.S. economic data and comments from the central bank officials bolstered expectations that the Federal Reserve could soon hike interest rates.
- The yen firmed against the dollar after data showed Japan's economy unexpectedly expanded at the fastest pace in a year in the first quarter, but later gave up most of its gains on views that more stimulus is needed to keep growth on track.
- London copper edged down as the dollar stood tall after a stream of encouraging U.S. figures supported the case for more rate rises this year.
- U.S. soybean futures rose for a second session with the market trading near its highest since July 2014 as concerns over lower supplies from South America underpinned prices.
May 17 - Oil futures rose for a second straight session, with U.S. crude hitting a six-month high, as the market focused on supply disruptions that prompted long-time bear Goldman Sachs to issue a bullish assessment on near-term prices.
- Gold prices edged up as the dollar weakened, but gains were capped as Asian shares recovered from two-month lows.
- The dollar edged down slightly in Asian trading, while the Australian dollar soared after central bank minutes reduced expectations of an interest rate cut.
- London copper lifted away from 2-1/2 month lows, led by firm oil prices and brighter company earnings, while investors looked for further Chinese measures to cement a recovery after tepid economic growth in April.
- Chicago corn futures slid, falling from last session's two week high as the above-average pace of planting across the U.S. Midwest anchored prices.
May 16 - Oil prices jumped over 1 percent after long-time bear Goldman Sachs said the market had ended almost two years of oversupply following global oil disruptions and flipped to a deficit.
- Gold rose for a second session, as slowing economic growth in China and weakness in Asian stock markets lifted the safe-haven appeal of the precious metal.
- The yen reversed course and eased versus the dollar, after rising initially as disappointing economic news out of China shored up demand for the safe-haven currency.
- London copper hovered near its weakest since February after several gauges of China's economy including factory output and new loans softened in April, increasing concerns over the demand prospects for industrial metals.
- U.S. corn futures edged down, with the market giving up some of last session's gains due to easing concerns over adverse crop weather in Brazil and the United States.
May 13 - Oil prices dipped in early trading as a stronger dollar weighed and Russia warned that a global crude supply overhang could last into next year.
- Gold edged higher after losing more than 1 percent in the prior session, but was on track for its biggest weekly decline since March as a firmer U.S. dollar cut the metal's appeal.
- The dollar held to gains against the yen and euro, awaiting U.S. data later in the day that could set the greenback's tone.
- London copper edged up, recovering from more than two-month lows plumbed in the previous session, but was still set for a second weekly drop due to a stronger dollar and concerns that China will hold back on more stimulus.
- Chicago soybeans slid for a third consecutive session with poor U.S. weekly export data adding pressure on prices but the market is poised for a fifth week of gains, underpinned by forecasts of tighter supplies.
May 12 - Oil prices fell, dragged down by the gradual return of Canadian oil sands output, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories.
- Gold retreated after rising the most since late April the session before as the dollar recovered some lost ground.
- The dollar edged higher against the yen with traders citing position-squaring by short-term players, although doubts over global growth prospects continued to cloud the greenback's outlook.
- London copper rose from one-month lows as a weaker dollar softened the impact of poor corporate earnings results that revived concerns over renewed weakness in the global economy that could limit metal demand.
- U.S. soybean futures resumed their upward trend, trading near a 21-month high set earlier this week on concerns over tight global supplies and buoyed by strong Chinese demand.
May 12 - Commodity trade houses seek to rule in core markets, exit others
Commodity trade houses are going back to their roots and focusing on what they know best, whether it's energy, metals or agriculture, while shedding peripheral activities. From the world's largest independent energy trader Vitol's retreat from agricultural markets, to trade house Gunvor pulling out of metals and Archer Daniels Midland disposing of its chocolate and cocoa businesses, traders are concentrating back on their historically strong activities. click here
May 11 - Oil prices dipped as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets.
- Gold drifted away from two-week lows as the dollar surrendered some gains, but analysts said bullion is unlikely to rise sharply ahead with losses in the greenback seen limited.
- The dollar dipped as investors locked in gains following its steep rise against the yen after intervention warnings from Japanese officials.
- London copper edged away from one-month lows, as a softer dollar offered some reprieve, despite worries over renewed weakness in China's economy that have pummelled steel and iron ore prices.
- Chicago soybean futures gained more ground, rising for three out of four days and trading near last session's 21-month peak, underpinned by the U.S. government's forecast of lower world supplies.
May 10 - Oil prices were steady as brimming inventories and a looming refined products glut offset supply disruptions in Canada and elsewhere that have taken more than 2 million barrels a day of production out of the market.
- Gold steadied near a 1-1/2-week low, under pressure after suffering its steepest loss since March in the prior session as the dollar remained strong, curbing appetite for the precious metal.
- The yen nursed broad losses, beaten back from recent peaks following warnings by Japan that it was prepared to step in and weaken the currency.
- London copper held around four-week lows after a weaker dollar and renewed jitters about Chinese economic growth tarnished demand for commodities.
- U.S. corn edged up from a near one-month low hit in the previous session, though gains were checked as traders readied for a U.S. Department of Agriculture report due later in the day that is expected to show stocks at a 29-year high.
May 09 - Oil prices jumped as a huge wildfire in Canada's oil sand region knocked out over a million barrels in daily production capacity, contributing to a significant tightening of markets over the past weeks.
- Spot gold edged lower, but remained supported in the face of a firm dollar as investors bet a weaker U.S. payroll report would push out the timing of any rate hike.
- The dollar edged higher versus the yen following a choppy end to last week, while disappointing trade figures out of China barely dented an already defensive Australian dollar.
- London copper struck its lowest in almost a month after the dollar withstood a weaker U.S. jobs report that largely kept rate hike expectations intact.
- U.S. soybean futures rose for a second session as strong demand from top importer China and concerns over crop damage in Argentina buoyed the market.
May 06 - Oil prices dipped, dragged down by a surging dollar that at least temporarily outweighed supply disruptions in North America, where a massive wildfire was threatening Canada's huge oil sands operations.
- Gold was set to post its biggest weekly decline in six weeks as the U.S. dollar firmed ahead of the U.S. non-farm payrolls report that could provide clues about the Federal Reserve's monetary policy.
- The dollar firmed against the euro and yen ahead of the April U.S. non-farm payrolls due later in the day that could support the greenback.
- London copper steadied but was heading for its largest weekly loss since early 2015, after a plunge in steel and iron ore prices this week sped a pull back across the metals sector on worries over China's economy and a stronger dollar.
- Chicago wheat was on track for its biggest weekly decline since November as a crucial crop tour is forecasting higher-than-expected yields across the U.S. Plains, adding pressure on an already amply supplied market.
May 05 - U.S. exchange ICE shelves plans for London bourse counter bid
The New York Stock Exchange's owner has shelved plans to make a counterbid for London Stock Exchange that could have derailed the British firm's planned merger with Deutsche Boerse. Intercontinental Exchange Inc's CEO Jeffrey Sprecher accused the LSE of failing to respond to the U.S. group's approaches despite several attempts to arrange meetings. As a consequence, ICE did not have enough information to make a formal offer, he told reporters on Wednesday. click here.
May 04 - Oil prices jumped as a huge wildfire in Canada disrupted its oil sands production, while escalating fighting in Libya threatened the North African nation's output.
- Gold firmed after three days of losses on weaker global equities, but held below a 15-month peak as the dollar rebounded against the yen after a recent slump.
- The yen showed signs of fatigue after stepping back from recent peaks, while the greenback was supported by optimism the U.S. economy could bounce back after nearly stalling in the first quarter.
- London copper was stuck near two-week lows, as a stronger dollar prompted commodity markets to take a breather after April's broad-based rally, while a deteriorating technical picture suggested further consolidation to come.
- Chicago wheat futures lost ground with the market hitting its lowest in almost three weeks as a closely watched crop tour forecast above average yields in the U.S. Plains, reinforcing expectations of ample global supplies.
May 03 - Oil prices rose as the dollar slipped to an 18-month low against the yen, potentially spurring fuel demand, but gains were restricted by rising Middle East output that renewed concerns of a global supply overhang.
- Gold rose, in another attempt to cross the key $1,300-an-ounce level, as the U.S. dollar extended losses and as assets of the top bullion fund rose to their highest in over two years.
- The U.S. dollar fell below 106.00 yen for the first time in about 18 months, as the yen surged against the Australian dollar after Australia's central bank cut interest rates to a record low of 1.75 percent.
- London copper slipped below $5,000 a tonne, easing after last week's gains as markets reopened following a long weekend, while a debt-fuelled pick-up in China's economy encouraged cautious optimism over future demand.
- U.S. soybean U.S. soybean futures climbed to their highest in more than 15 months, rising a third straight session as crop-damage in Argentina and fund buying drove prices higher.
- Precious metals + €/$ Trend of the Day now available from http://www.commodity3.com/physical/metalsprc/metals-precious-metals
May 02 - Oil prices fell as rising production in the Middle East outweighed a decline in U.S. output and a recent slide in the dollar, which has been supporting crude.
- Gold traded near a 15-month peak as a tumble in the dollar and weakness in global equities pushed up the metal to near $1,300 an ounce.
- The yen touched a fresh 18-month high against the greenback early as its biggest weekly gain in over seven years tested the patience of Japanese officials concerned the rally will damage exports and the share market.
- U.S. corn dropped, hit by forecasts of a return to dry weather that should help planting in parts of the United States.
- Precious metals + €/$ Trend of the Day now available from http://www.commodity3.com/physical/metalsprc/metals-precious-metals
Apr 29 - China securities regulator orders major commodities exchanges to control futures speculation - sources
China's securities regulator ordered the country's major commodity futures exchanges this week to control speculative trading activity, sources told Reuters, after a surge in prices sparked fears of a boom-and-bust cycle. In response, commodity futures exchanges in Dalian, Shanghai and Zhengzhou ordered major institutional investors that lack a commodities background to rein in their trading, three people with direct knowledge of the situation said. The sources didn't define what was meant by a lack of background in commodities. click here.
Apr 29 - Crude oil prices fell in early trading as a looming rise in Middle East output may drag on the stronger markets seen in April, although falling U.S. production and a weakening dollar are still offering support.
- Gold jumped to a seven-week high and silver soared to a 15-month high, as the dollar remained downbeat after the Bank of Japan surprised markets by standing pat on policy.
- The yen set an 18-month high against the dollar, staying firm in the wake of the Bank of Japan's decision the previous day to hold off from expanding its monetary stimulus.
- London copper rose for a second session, with prices underpinned by a weaker dollar and expectations of economic recovery in the world's top consumer China.
- U.S. soybeans edged down after climbing to a more than one-year high in the previous session, although prices remained on track for a third straight weekly gain on concerns about production losses in South America.
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Apr 28 - Crude futures pulled back from 2016 highs early as traders locked in profits after April's sharp rally, but analysts said falling U.S. production and strong investor appetite could push prices higher soon.
- Gold erased early losses to trade flat, as the U.S. dollar slumped 2 percent against the yen after the Bank of Japan surprised markets by keeping monetary policy steady.
- The yen jumped against the dollar and euro after the Bank of Japan held monetary policy steady, quashing speculation that it would ramp up its already extensive easing programme.
- London copper cut early gains after a commodity exchange in China tightened trading terms for iron ore and coal, dousing their recent rally in a move that also hit sentiment for other metals.
- U.S. soybeans slid on profit-taking by funds, while corn edged lower as parched farms in Brazil received showers, easing crop concerns.
Apr 28 - Futures market operator CME Group's profit rises 11.3 pct
CME Group Inc, the world's largest futures market operator, reported an 11.3 percent rise in quarterly profit as a rout in the energy market boosted trading volume. CME's first-quarter volume averaged a record 16.9 million contracts a day, up 13 percent from a year earlier. Average daily trading volumes had dropped 11 percent in the fourth quarter of 2015. click here.
Apr 28 - China's Dalian Commodities Exchange: new rules aim to curb speculation, risks
Dalian Commodity Exchange's recent series of new rules on trading are aimed at curbing speculation and cutting market risks, the Chinese exchange said in a statement. The major Chinese commodities exchange added to a number of recent measures aimed at calming volatile markets on Wednesday, hiking transaction fees and widening trade limits in a move that could make exiting futures contracts more orderly. click here.
Apr 27 - Crude oil futures rose around half a dollar and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although analysts warned this month's bull-run could soon run out of steam.
- Gold ticked higher for a third straight session on Wednesday on a softer dollar and weak U.S. economic data, but the metal traded in a tight range as investors waited for the Federal Reserve's policy decision later in the session.
- The dollar remained subdued after a broad retreat overnight ahead of policy decisions by both the Federal Reserve and Bank of Japan, while the Australian dollar tumbled after data showed core inflation unexpectedly slowed to the lowest on record.
- Copper slid for a third straight session as worries over demand in top consumer China outweighed support from a softer dollar.
- Malaysian palm oil futures dipped in early trade as the ringgit recovered from a one-week low against the dollar, while expected demand ahead of Ramadan was seen limiting losses.
Apr 26 - Crude oil futures rose, pushed up by a weaker dollar and a flood of new cash into the market, but analysts warned that fundamentals remain weak as a producer race for customers heats up in the Middle East.
- The yen rose against other major currencies, pulling up from multi-week troughs against the dollar and euro but capped by wariness ahead of this week's Bank of Japan policy review that will come on the heels of the Federal Reserve's meeting. A weaker dollar and equities helped gold extend gains, with investors cautious ahead of policy meetings this week at the Bank of Japan and the U.S. Federal Reserve.
- London copper slid for a second session, easing further from last week's five-week peak amid doubts about demand in top user China and concerns over rising Asian inventories.
- Malaysian palm oil futures rose morning from a one-week low touched in the previous session, supported by a decline in the ringgit against the dollar, but gains are likely to be limited due to higher production and weak exports.
Apr 25 - Oil prices fell over 1 percent as traders took profits after three weeks of gains and as a jump in the dollar late last week was priced into fuel markets.
- The yen hit a three-week low on expectations the Bank of Japan could start lending to banks at negative rates, while sterling hit a five-week high in reaction to President Barack Obama urging Britons to stay in the European Union.
- Gold ticked slightly higher as the dollar gave back some of its recent gains, but caution ahead of the Federal Reserve policy meeting later this week curbed its advance.
- Shanghai aluminium futures jumped to their highest level in nearly 10 months, tracking gains on the London Metal Exchange amid optimism about a demand pick-up up in top consumer China.
- Malaysian palm oil futures saw a second session of losses in early trade, due to sluggish export demand, and as traders forecast rising production in line with the seasonal trend.
Apr 25 - Goldman says commodities rally not backed by fundamentals
The recent rally in commodity prices is not supported by fundamentals in the physical markets, Goldman Sachs said, adding that oil could see downside risks in the near term. "While this recent rally has the potential to run further to the upside ... we believe that it is not yet driven by a sustainable shift in fundamentals," Goldman Sachs analysts said in a note on Friday. click here.
Apr 22 - Oil prices rose, setting crude futures on course for solid weekly gains, as market sentiment turned more upbeat despite ongoing oversupply.
- The dollar extended gains against the yen, after Bloomberg reported that the Bank of Japan was considering applying negative rates to its lending programme for financial institutions.
- Silver edged towards an 11-month top and was poised for its third straight weekly gain, while gold steadied below a five-week high, helped by a soft dollar and a rally in commodities.
- London copper eased from near a four-week high hit in the previous session but remained on track for one of the strongest weekly gains since early March, as signs of healthier Chinese demand buoyed sentiment.
- Malaysian palm oil futures snapped a four-day rising streak as sluggish export demand and a correction in rival soyoil prices prompted traders to book profits.
Trend of the Day
Gold : 35 479 € -80€
Silver C3E sales : 582.25 € -10€
Platinum : 29 215 € -195€
Palladium : 17 256 € -150€
Euro/$ : 1.1291
Apr 21 - Crude prices steadied after earlier declines as the International Energy Agency (IEA) said that 2016 would see the biggest fall in non-OPEC production in a generation, helping rebalance a market that has been dogged by oversupply.
- The euro wavered, well off its overnight peak as investors adjusted position ahead of a policy meeting by the European Central Bank later this session. Silver surged nearly 3 percent, hitting an 11-month top and lifting gold with it, as commodities rallied on firmer oil prices and optimism over the Chinese economy.
- London copper hit its highest in almost a month, after strong gains in oil the session before stoked investor appetite for commodities already buoyed by a generally brightening picture for global growth.
- Malaysian palm oil futures up for a fourth consecutive session with the market hitting its highest in more than two weeks on expectations of lower production following hot and dry weather brought by El Nino weather pattern.
Trend of the Day
Gold : 35 828 € +340€
Silver C3E sales : 596.93 € +20€
Platinum : 29 255 € +445€
Palladium : 17 018 € +265€
Euro/$ : 1.1298
Apr 20 - Crude futures fell after Kuwaiti oil workers ended a three-day strike that had cut the nation's crude output by around half, with worries about an oversupplied market returning to the fore.
- Commodity-linked currencies like the Australian and Canadian dollars pulled back from recent peaks as a rally in crude oil prices stalled after a oil workers' strike in Kuwait ended.
- Silver rallied to an 11-month high, lifting gold for a second session and sending platinum to a fresh six-month top, as a softer dollar and optimism about the Chinese economy buoyed the white metal.
- London copper floated near a three-week high after a stream of encouraging signals on China's economy and a revival in oil prices lifted sentiment towards commodities.
- Malaysian palm oil futures recorded their strongest gains in nearly a month, tracking a rally in competing vegetable oils to reach a near two-week high.
Trend of the Day
Gold : 35 328 € -135€
Silver C3E sales : 575.07 € +10€
Platinum : 28 572 € +285€
Palladium : 16 436 € -45€
Euro/$ : 1.1365
Apr 19 - Crude futures slipped on a persistent global glut and the failure of a producer meeting at the weekend to rein in the ballooning oversupply, although a sharp drop in output in Kuwait due to an oil worker strike underpinned prices briefly.
- Commodity currencies rose with the Australian dollar hitting a 10-month high while the yen edged lower after oil prices appeared to stabilise from a sharp slide, underpinning risk sentiment.
- Gold edged up in choppy trading amid strength in Asian equities and a drop in oil prices, although uncertainty over U.S. monetary policy kept investors cautious.
- London copper edged lower, but losses were limited as a slew of supportive economic signals out of China painted an encouraging picture for demand and risk appetite improved after a strong performance by oil.
- Malaysian palm oil futures rose for a second trading day to a one-week high, tracking competing vegetable oils, after suffering losses in the previous two weeks.
Trend of the Day
Gold : 34 976 € -125€
Silver C3E sales : 561.92 € +10€
Platinum : 27 904 € +105€
Palladium : 16 070 € +10€
Euro/$ : 1.1384
Apr 18 - Oil prices tumbled after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel.
- Commodity currencies slumped while the safe-haven yen soared after major oil producers failed to agree on an output freeze, sending oil prices tumbling anew.
- Gold rose after oil producers failed to agree on an output freeze, sending crude prices and equities tumbling and stocking safe haven demand for bullion.
- London copper steadied, capped by sharply lower oil prices after a meeting of producers in Doha failed to reach a deal to trim supply, undermining cost support for metals.
- U.S. soybean futures climbed to an eight-month peak, rising for a sixth session out of seven, with heavy rains in Argentina raising fears of crop damage.
Trend of the Day
Gold : 35 049 € +120€
Silver C3E sales : 550.68 €
Platinum : 27 944 € -170€
Palladium : 15 980 € -215€
Euro/$ : 1.1287
Apr 15 - Brazil political crisis hits grains trade; all eyes on currency
Brazil's forward sales of commodities such as grains and sugar have nearly ground to a halt as producers, trading companies and consultants assess the impact of the possible impeachment of President Dilma Rousseff. After a year-long boom in sugar and corn exports, commodity merchants and farmers are bracing for continued strengthening of the real if Rousseff is ousted, reducing the price advantage of Brazilian commodities and possibly curbing foreign sales. click here.
Apr 15 - Crude futures were steady in thin business as traders were reluctant to take on new positions ahead of a planned meeting at the weekend of major oil exporters who want to rein in ballooning global over-production.
- The dollar rose, staying on track for weekly gains as investors awaited the outcome of a Group of 20 meeting in Washington whose agenda is likely to feature currency policies.
- Gold steadied after three days of declines, but was heading for its first weekly drop in three as strength in the dollar and global equities curbed appetite for the safe-haven metal.
- London copper was steady, but was on track to post its biggest weekly rise in six weeks on signs that growth in China could be stabilising after first quarter growth hit forecasts and other indicators surprised to the upside.
- U.S. soybean rose and were set for their biggest weekly gain in more than four months, while corn was up for a second consecutive week as buying by investment funds drove some agricultural markets higher.
Trend of the Day
Gold : 35 110 € -55€
Silver C3E sales : 553.79 €
Platinum : 28 198 € -130€
Palladium : 16 040 € +205€
Euro/$ : 1.1265
Apr 14 - Oil prices fell as OPEC warned of slowing demand and Russia hinted that there would only be a loose agreement with little commitments at the upcoming exporter meeting to rein in ballooning oversupply.
- The dollar was broadly firmer, having posted its biggest one-day gain in more than a month as an improvement in global sentiment led investors to trim bearish dollar positions..
- Gold dropped 1 percent, extending losses into a third session as the U.S. dollar strengthened and Asian stocks gained on hopes that global central banks would ease monetary policies to support softening economies.
- London copper eased, but prices did not stray far from near two-week highs on the back of this week's better-than-expected Chinese trade data, which has raised hopes that the world's No. 2 economy may be stabilising.
- U.S. soybean futures rose for a fifth session, hitting an eight-month high, as strong demand from top importer China and short-covering by investors underpinned the market.
Trend of the Day
Gold : 35 230 € -285€
Silver C3E sales : 550.21 € +5€
Platinum : 28 207 € -35€
Palladium : 15 331 € -40€
Euro/$ : 1.1261
Apr 13 - Oil futures fell in Asian trade as profit-taking and concern over a larger-than-expected build in U.S. crude stocks outweighed a report that Russia and Saudi Arabia had reached consensus on an oil output cap.
- The safe-haven Japanese yen slid from recent peaks against the greenback as solid gains in oil prices helped underpin risk appetite.
- Gold dipped below a three-week high as the dollar regained some ground from the yen and equities climbed higher, but uncertainties about global economy and U.S. monetary policy limited losses.
- London copper hit its highest in almost a fortnight and Shanghai metals surged as strong Chinese copper imports in March built on gains fueled by a falling dollar.
- U.S. soybean futures climbed to an eight-month high, rising for a fourth consecutive session, with prices underpinned by fund buying and concerns over rains limiting the harvest in Argentina.
Trend of the Day
Gold : 35 365 € -115€
Silver C3E sales : 545.50 € +5€
Platinum : 28 136 € +190€
Palladium : 15 455 € +45€
Euro/$ : 1.1358
Apr 12 - Oil prices dipped, but both U.S. and international crude futures held above $40 per barrel ahead of a meeting of major producers to discuss freezing output levels to rein in ballooning oversupply.
- The U.S. dollar remained on the defensive, after carving out a fresh low on the break of a technical barrier overnight as momentum sellers joined in the fray.
- Gold jumped to a three-week peak on expectations the Federal Reserve will not raise U.S. interest rates soon and as the dollar traded close to its lowest in nearly eight months, though profit-taking chipped away at some recent gains.
- London copper steadied, holding above seven-week lows as a broadly weaker dollar offered support, while encouraging economic signals from China were offset by a looming slowdown in seasonal demand.
- U.S. wheat lost more ground with the market trading near last session's five-week low on pressure from weather forecasts predicting much-needed rains across the U.S. Plains.
Trend of the Day
Gold : 35 544 € +290€
Silver C3E sales : 539.82 € +15€
Platinum : 28 038 € +395€
Palladium : 15 561 € +150€
Euro/$ : 1.1364
Apr 11 - Oil prices rose, extending a sharp rally seen at the end of last week after a drop in U.S. inventories and drilling, while outages and hopes that exporters could freeze output also supported prices.
- Demand for the yen showed little signs of abating, with the currency reaching a fresh 17-month high, prompting the Japanese government to warn that it could take steps to weaken the exchange rate.
- Gold jumped to its highest in nearly three weeks as Asian equities slid and the dollar held close to six-month lows, burnishing demand for the safe-haven metal.
- London copper climbed from near its lowest in more than a month after middling U.S. wholesale inventories bruised the dollar, while readings of China's economy are expected to dominate sentiment in the week ahead.
- U.S. wheat fell nearly 1.5 percent to hit a five-week low as forecasts for rain across key producing regions eased lingering fears of potential crop damage after recent dry weather.
Trend of the Day
Gold : 35 366 € +400€
Silver C3E sales : 525.56 € +10€
Platinum : 27 614 € +565€
Palladium : 15 448 € +270€
Euro/$ : 1.1364
Apr 08 - Oil prices edged up, lifted by firm economic indicators from the United States and Germany which could support fuel demand, but analysts warned that crude markets were threatened by another downturn because of ongoing oversupply.
- The dollar firmed a little but languished close to 17-month lows against the yen, with the Japanese currency poised for weekly gains against its major counterparts despite verbal warnings from Japanese officials.
- Gold eased from a two-week high, giving back some of its sharp overnight gains, but was set to post its strongest week in five on the Federal Reserve's caution over raising U.S. interest rates and risk-off sentiment in the market.
- London copper edged up but was still set for its largest weekly loss in three months as investors took profits on concerns that prices had overshot still fragile fundamentals given near record stocks in China.
- Chicago wheat was poised to post its biggest weekly decline in more than three months, with lack of demand for pricey U.S. shipments and the improving condition of the winter crop dragging on the market.
Trend of the Day
Gold : 34 953 € -190€
Silver C3E sales : 515.94 €
Platinum : 27 013 € -15€
Palladium : 15 190 € +20€
Euro/$ : 1.1366
Apr 07 - Crude futures rose on a raft of supportive indicators, although some traders warned that physical supply and demand fundamentals did not warrant a strong price recovery at this stage.
- Gold rose, while London copper steadied after hitting near one-month lows earlier this week, as minutes of the U.S. Federal Reserve's meeting last month that underscored caution about future interest rate hikes knocked down the dollar to a 17-month low against the yen.
- Chicago wheat edged up, snapping three sessions of declines and rising from a one-week low on bargain buying, but improving condition of the U.S. winter crop capped gains.
Trend of the Day
Gold : 34 509 € +30€
Silver C3E sales : 510.52 €
Platinum : 26 639 € -10€
Palladium : 15 174 € -160€
Euro/$ : 1.1442
Apr 06 - Crude futures jumped as hopes for an agreement among exporters to freeze output underpinned the market, although a persistent global oversupply and Iran's plans to boost production pressured physical oil prices.
- The dollar hovered near a 17-month low against the yen after taking a fresh knock overnight on comments by Japan's prime minister which suggested that authorities were cautious towards arresting the yen's appreciation.
- Gold held sharp overnight gains as disappointing global economic data and a tumble in equities sent investors scurrying towards the safe-haven metal.
- Copper added to small overnight gains supported by a weaker dollar, but it remained within striking distance of a one-month low on concerns over demand from top consumer China.
- Chicago wheat slid for a third session, pressured by a U.S. Department of Agriculture (USDA) report showing the domestic winter crop condition was better than expected.
Trend of the Day
Gold : 34 709 € -190€
Silver C3E sales : 511.64 € -5€
Platinum : 26 906 € -270€
Palladium : 15 504 € -135€
Euro/$ : 1.1364
Apr 05 - Oil prices dropped for a third session, as weakening demand for gasoline and persistent doubts on whether crude producers will be able to reach an agreement to rein in a worldwide supply glut dragged on the market.
- The dollar nursed losses against the yen and euro, but was firmer versus the Canadian and New Zealand currencies, which succumbed to weakness in commodity prices.
- Gold jumped 1 percent following a two-day decline, as Asian stocks slid on weak oil prices and mixed views on the outlook for Federal Reserve monetary policy.
- London copper edged higher as the market took a breather after sliding for the last seven sessions, but slowing growth in top consumer China and global oversupply of the metal kept a lid on prices.
- Chicago wheat edged higher, rising for five out of seven sessions with the market underpinned by concerns over adverse weather potentially reducing yields in the United States and the Black Sea region.
Trend of the Day
Gold : 34 670 € +285€
Silver C3E sales : 511.98 € +5€
Platinum : 26 850 € -55€
Palladium : 15 618 € -150€
Euro/$ : 1.1364
Apr 04 - Oil prices fell as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while stubbornly high U.S. output and worries about Asia's economic outlook also dragged on prices.
- The dollar was on the defensive, after Friday's firm U.S. jobs report failed to shift the broadly held view that the Federal Reserve will remain cautious on interest rate hikes this year.
- Gold extended losses after a better-than-expected U.S. jobs report signalled strength in the economy and stoked speculation the Federal Reserve could raise interest rates soon.
- Copper slid for a seventh straight session to its lowest in a month, dragged down by a strong U.S. jobs report that raised the likelihood of interest rate hikes soon, adding to concerns over demand in top consumer China.
- Chicago soybean futures rose for a third session, climbing to their highest since mid-August, underpinned by a U.S. government report forecasting lower planting for 2016.
Trend of the Day
Gold : 34 409 € +90€
Silver C3E sales : 508.25 € -10€
Platinum : 26 821 € -155€
Palladium : 15 731 € -30€
Euro/$ : 1.1364
Apr 01 - Oil futures fell in Asian trade as oversupply, a strengthening dollar and falls in regional stock markets all weighed on sentiment. But another fall in U.S. oil output in January helped to limit the losses.
- Gold steadied, set for a weekly rise and holding onto its biggest quarterly gain in nearly 30 years, but investors were cautious ahead of a U.S. jobs report.
- Copper futures inched up, following an overnight spurt of end-of-quarter selling, with gains tempered as investors weighed the impact of S&P's downgrade for China's outlook versus an unexpected growth in the country's manufacturing activity.
- U.S. corn futures edged higher but the market is on track for its biggest weekly loss in eight months, weighed down by a U.S. government forecast of 2016 planted acreage well above market expectations.
- The dollar found some respite after steep quarterly losses against major rivals, as investors awaited a U.S. nonfarm payrolls report that could give clues to the monetary policy outlook.
Trend of the Day (no joke)
Gold : 34 888 € +10€
Silver C3E sales : 523.19 €
Platinum : 27 727 € +165€
Palladium : 16 127 € +60€
Euro/$ : 1.1364
Mar 31 - Oil futures fell in Asian trade, with U.S. crude hitting the lowest level in more than two weeks, amid renewed worries of global oversupply after U.S. crude inventories rose to a record high.
- Gold ticked up, helped by a softer dollar and Federal Reserve Chair Janet Yellen's caution over U.S. interest rate hikes, and was also set to record its best quarter in nearly 30 years.
- London copper lost more ground, dropping to a four-week low as concerns about China's economic growth outweighed the boost from a weaker U.S. dollar.
- U.S. wheat edged lower, extending two-day losses to nearly 3 percent, as rain forecasts curtailed a recent short-covering bounce, though the grain was poised to record its third quarterly loss as ample global supplies weigh.
- Investors gave the dollar a wide berth early as dovish comments from Federal Reserve Chair Janet Yellen continued to resonate, dampening demand for the currency.
Trend of the Day
Gold : 34 704 € -379€
Silver C3E sales : 517.08 € -7€
Platinum : 27 302 € -300€
Palladium : 16 014 € -190€
Euro/$ : 1.1364
Mar 30 - Oil futures rebounded in Asian trade, buoyed by a less than expected build in crude oil stockpiles last week.
- Gold held on to sharp overnight gains, buoyed by a softer dollar and Federal Reserve chair Janet Yellen's remarks that the U.S. central bank should be cautious in raising interest rates.
- London copper slipped to a more than two-week low on simmering concerns over global economic growth, although a softer dollar after the U.S. Federal Reserve chair stressed the need for caution on interest rate hikes checked losses.
- Chicago wheat wheat futures fell from the previous session's two-week top, as ample global supplies outweighed worries over dry weather threatening the U.S. winter crop.
- Dollar bulls were on the defensive after Federal Reserve chair Janet Yellen's cautious tone left markets wondering if there will be even one hike to U.S. interest rates this year.
Trend of the Day
Gold : 35 029 € -155€
Silver C3E sales : 521.49 € +5€
Platinum : 27 217 € +40€
Palladium : 16 297 € +70€
Euro/$ : 1.1364
Mar 29 - China mutual funds turn to commodities, bet on reforms
China's mutual fund industry is pushing to develop investment products linked to local commodity futures, betting that plans to fight chronic oversupply in the country's mammoth resource sector will drive up prices for raw materials. The funds want to branch out beyond their traditional focus on stocks and fixed-income, with no immediate upturn in sight in the wake of turmoil last year that pulled down share markets by nearly 50 percent and forced bond yields to multi-year lows. click here.
Mar 29 - Oil prices fell in early Asian trade as concerns mount that a rally since January is fizzling out, while analysts forecast another rise to record levels for U.S. crude stockpiles.
- Gold dipped slightly, but held above a one-month low on a softer dollar and weak U.S. economic data that dented expectations of an immediate hike in U.S. interest rates.
- London copper opened slightly firmer after a long Easter holiday weekend, buoyed by a weaker dollar and encouraging industrial profits in top metals user China.
- U.S. wheat rose nearly 0.5 percent, extending gains to more than 2 percent over two days, as prices lingered near two-week highs on concerns about adverse weather hitting yields in key growing areas.
- The dollar sagged against a basket of currencies after disappointing U.S. economic data pushed it away from a 12-day peak.
Trend of the Day
Gold : 34 852 € -330€
Silver C3E sales : 521.58 € -5€
Platinum : 27 069 € -515€
Palladium : 16 281 € -350€
Euro/$ : 1.1236
Mar 24 - Commodity dealers in EU to escape full capital rules until 2020
Commodities brokers in the European Union should be given a three-year exemption from the full range of mandatory capital buffers, the bloc's member states said on Wednesday. Under EU bank capital rules, commodities dealers, who trade energy, metals and other products, would have to meet the full panoply of capital rules from January 2018. click here.
Mar 24 - Oil prices fell in Asian trading, adding to a slump in the previous session, after U.S. stockpiles rose for the sixth week to another record, sapping the strength of a two-month rally in prices.
- Spot gold slipped to its lowest in nearly one month and was poised for its biggest weekly loss since early November as hawkish comments by U.S. Federal Reserve officials stoked a recovery in the dollar.
- London copper edged up but was set for its biggest weekly fall in six weeks as a dollar rally pushed investors to take profits ahead of the long Easter holiday weekend.
- Chicago wheat headed for its biggest weekly decline in three months as the market faced pressure from lack of demand for expensive U.S. shipments.
- The dollar climbed to a one-week high against a basket of currencies while awaiting data due later in the session that could back some Federal Reserve officials' relatively optimistic views on the U.S. economy.
Trend of the Day
Gold : 35 163 € +151€
Silver C3E salese : 526.74 € -10€
Platinum : 27 547 € -48€
Palladium : 16 609 € -63€
Euro/$ : 1.1111
Mar 23 - Oil prices fell after figures from an industry group showed U.S. crude stockpiles rose last week more than expected, reinforcing concerns that the global supply glut continues unabated.
- Spot gold hit its lowest in a week, with the impact of a stronger dollar outweighing a slight swell in the metal's safe-haven appeal after attacks on an airport and a rush-hour metro train in Brussels.
- London copper edged lower as the dollar held firm but was underpinned by signs of a revival in China's housing market, with trade beginning to tail off ahead of Easter holidays later this week.
- Chicago wheat futures edged higher with prices underpinned by concerns over potential yield losses following an extremely cold weekend in parts of the U.S. Plains.
- The dollar steadied, underpinned by hawkish comments from U.S. Federal Reserve officials as Asian investors reacted to overnight news of attacks in Brussels.
Trend of the Day
Gold: 35 258 € -610€
Silver C3E sales : 535.66 € -10€
Platinum : 28 070 € -315€
Palladium : 16 968 € -360€
Euro/$ : 1,1200
Mar 22 - Oil prices rose in Asian trade, adding to gains from the previous session after data showed U.S. crude inventories fell for the first time since January and as commodity prices broadly strengthened.
- Spot gold steadied after falling for three days, but looked at risk of further weakness as the dollar edged up on comments by a Federal Reserve official that the next U.S. rate rise could come as soon as next month.
- London copper eased as the dollar edged higher after a U.S. Federal Reserve official raised the prospect of a rate hike next month, but any downside was limited given an improving chart picture and seasonal demand strength.
- Chicago wheat futures rose 0.8 percent, gaining for a third consecutive session on expectations that extremely cold weather over the weekend in parts of the southern U.S. Plains will have damaged the winter crop.
- The dollar held firm, having extended its rebound for a second session after two Federal Reserve officials supported the case for a hike in interest rates sooner rather than later.
Trend of the Day
Gold : 35 853 € +295€
Silver C3E sales : 547.33 € +5€
Platinum : 28 070 € +110€
Palladium : 17 168 € +15€
Euro/$ : 1.1246
Mar 21 - Crude oil slid for a second session, falling further from last week's 2016 highs on concerns over a supply glut after the U.S rig count rose for the first time since December.
- Spot gold fell more than 1 percent, as the dollar regained some ground in holiday thinned trade, but traders said the metal was well supported given a dovish stance from U.S. and European central banks.
- London copper rose, moving toward the four-month high reached in the previous session, underpinned by expectations that U.S. and European central banks will keep loose monetary policies and amid stronger seasonal demand.
- Chicago wheat futures rose more than 1 percent, with the market underpinned as extremely cold weather threatened to curb yields of the U.S. hard red winter crop.
- The safe-haven yen was broadly firmer, particularly against its New Zealand and Australian peers, as the mood turned sour with most Asian share markets down.
Trend of the Day
Gold : 35 539 € -105€
Silver C3E sales : 539.78 € -5€
Platinum : 27 527 € -175€
Palladium : 16 739 € -165€
Euro/$ : 1.1236
Mar 18 - Oil futures touched new highs for 2016, adding to strong gains the previous session as optimism grew that major producers would strike a deal to freeze output.
- Gold edged up with the market on track to end the week on a firmer note as the dollar hovered near its lowest in five months, pressured by the Federal Reserve's plan to make fewer-than-expected interest rate hikes while Copper hit its highest since November
- US wheat was little changed, but set for its biggest weekly decline in three months on an improved weather outlook for the hard red winter crop across the U.S. Plains.
Trend of the Day
Gold : 36 028 € +21€
Silver C3E sales : 551.11 € +15€
Platinum : 28 042 € -7€
Palladium : 16 940 € +218€
Euro/$ : 1.1236
Mar 16 - Oil prices rose after falling the previous session on expectations U.S. output will decline further as some producers are under increasing financial distress and as early inventory data showed a less-than-expected increase.
- Gold was largely unchanged, after dropping for the past three sessions to its lowest in nearly two weeks while Copper drifted in listless trade as the dollar held gains ahead of a U.S. Federal Reserve meeting where monetary officials are expected to affirm at least one further rate hike is on the cards this year.
- Chicago wheat slid for a second session as improved condition of the U.S. winter crop raised hopes of another year of plentiful world supplies, dragging the market further from a five-week high set earlier this week.
Trend of the Day
Gold : 35 634 € -85€
Silver C3E sales : 529.17 € -4€
Platinum : 27 807 € +117€
Palladium : 16 378 € -16€
Euro/$ : 1.1111
Mar 15 - Hedge funds step up bets on commodity market revival
After deserting commodities markets during last year's slide, some hedge funds are starting to move back in, betting a recent pick-up in energy prices could signal a turning point. A handful of managers are weighing up new specialist hedge funds, industry data shows, while some funds are stepping up exposure to energy markets and oil in particular. click here.
Mar 15 - Oil prices fell in Asian trade, extending losses from the session before as concerns start to take hold that a six-week recovery will peter out as markets remain oversupplied.
- Gold dropped for a third consecutive session to its lowest in almost two weeks, with investors focused on closely watched policy meetings of the U.S. and Japanese central banks.
- London copper edged down as the dollar maintained its strength ahead of a slew of central bank meetings this week, with the Federal Reserve expected to affirm that further U.S. rate rises are likely ahead.
- U.S. soybeans lost ground, dropping from their highest since early December as the market came under pressure from forecasts of dry weather in South America which will boost a harvest that is expected to reap a near-record crop.
- The dollar edged lower in Asian trade, with the yen getting a lift after the Bank of Japan held policy steady as expected at the conclusion of its two-day policy meeting.
Trend of the Day
Gold: 35 553 € -450€
Silver C3E sales : 530.91 € -11€
Platinum : 27 605 € -263€
Palladium : 16 291 € -117€
Euro/$ : 1.1111
Mar 14 - Noble seeks major funding breakthrough without asset sales
Trading house Noble Group is under no pressure from banks to sell assets and is not planning further divestments as it negotiates more than $4 billion of new and refinanced loans with lenders, a senior source close to the process said.The renewal of Noble's loans is seen by analysts as the most significant development this year for the trader of commodities ranging from iron ore to oil, after suffering a slide in investor confidence over the past year.click here.
Mar 14 - Oil prices dipped, weighed by global oversupply and slowing economic growth, although the prospects of falling production lent crude some support.
- Gold bounced back, inching closer to last week's 13-month high as the dollar remained under pressure ahead of the U.S. Federal Reserve's policy meeting.
- London copper climbed towards four-month highs, after China data at the weekend and comments by a top regulator soothed worries over both the health of the world's second-biggest economy and the outlook for its demand for metals.
- Chicago soybeans edged higher, hitting their highest in more than three months with a strengthening currency in top exporter Brazil and strong demand for U.S. supplies underpinning the market.
- The dollar steadied against the euro and yen following last week's large swings, as the market braced for Japanese and U.S. central bank policy meetings that could provide investors with fresh incentive.
Trend of the Day
Gold : 36 303 € -193€
Silver C3E sales : 542.02 € +4€
Platinum : 28 010 € -151€
Palladium : 16 609 € -45€
Euro/$ : 1.1111
Mar 11 - Oil prices jumped supported by fresh investment and a strong yuan, which makes fuel cheaper for Chinese importers, but analysts warned that any price rally was pre-mature as a global glut remained in place.
- Gold climbed to a 13-month high, buoyed by gains in the euro after the European Central Bank (ECB) signalled it was done cutting interest rates for now.
- London copper rose, lifted by surprise stimulus from Europe's central bank, but was still facing its first weekly loss in four amid jitters over consumption growth in top metals user China.
- Chicago wheat climbed to a one-month peak with the market on track for its biggest weekly gain since early December as dry weather in parts of the U.S. Plains prompted investors to cover short positions.
- The euro hovered near the three-week high it hit overnight after the European Central Bank roiled markets by suggesting that it was done cutting interest rates for now.
Trend of the Day
Gold : 36 760 € -75€
Silver C3E sales : 540.98 € +5€
Platinum : 28 357 € -375€
Palladium : 16 580 € -175€
Euro/$ : 1.1111
Mar 10 - Volatile yuan spurs China copper trade to hedge currency risk
Chinese copper importers and investors are starting to hedge currency risk following a sharp spike in the volatility of the yuan, cutting already thin margins for traders and arbitrage players.China, the world's top copper importer, bought nearly 3.7 million tonnes of refined copper last year worth $17.8 billion, while the metal is one of the most liquid commodities in China's futures markets.click here.
Mar 10 - Oil prices dipped early after U.S. crude hit 2016 highs the day before and Brent shot back over $40 per barrel, with analysts warning that larger gains would be unwarranted as a global glut continues to outweigh strong demand.
- Gold dipped for a third day, slipping further away from a 13-month high hit last week, as Asian stocks and the U.S. dollar firmed on expectations the European Central Bank will enact more stimulus to bolster euro zone economies.
- London copper edged lower but was still within reach of a four-month high, with concerns over China's appetite for commodities countering support from expectations of more monetary easing in Europe.
- U.S. soybeans rose for a seventh consecutive session as short covering support kept prices near a five-week high touched in the previous session.
- The euro came under bearish pressure in Asian trade ahead of a European Central Bank meeting that is expected to result in further easing steps, while the kiwi skidded after the Reserve Bank of New Zealand surprised with an interest rate cut.
Trend of the Day
Gold : 36 486 € -60€
Silver C3E sales : 534.62 € -5€
Platinum : 28 548 € -200€
Palladium : 16 385 € -160€
Euro/$ : 1.0969
Mar 09 - Oil prices were only slightly higher as support from falling U.S. production was countered by a strengthening U.S.-dollar and concerns over slowing demand.
- Gold edged lower, slipping with the euro as expectations that the European Central Bank is almost certain to ease policy this week weighed on the single currency.
- London copper was steady after prices fell the most in a day since November in the previous session when grim China February trade data renewed fears over economic growth in the world's top consumer of metals.
- U.S. wheat futures fell for the first time in six sessions, edging back from a near three-week high touched early in the week, though losses were limited by worries over the threat of not enough rain in the United States.
- The yen was broadly firmer early as demand for the safe-haven currency picked up after disappointing Chinese trade data took the wind out of a global rally rooted in stronger risk appetites.
Trend of the Day
Gold : 36 814 € -75€
Silver C3E sales : 538.21 € -10€
Platinum : 28 760 € -520€
Palladium : 16 413 € -340€
Euro/$ : 1.0989
Mar 08 - Oil prices fell on weak Chinese trading data, but Brent remained over $40 a barrel after jumping to 2016 highs the previous day as producers announced talks to support the market and investors opened new bullish bets.
- Gold advanced to trade near a 13-month high, supported by a struggling dollar and hopes the U.S. Federal Reserve will not raise interest rates as soon as next week's meeting.
- London copper dropped falling away from recent four-month highs after weak Chinese trade data damaged the outlook for metals and revived fears that a downturn in China's economy could derail global growth.
- U.S. wheat fell for the first time in five sessions, edging down from more than a two-week high hit in the previous session, though adverse weather forecasts and fund buying provided a floor to losses.
- The perennial safe-haven yen logged solid gains against the dollar and euro in Asian trade as risk appetites waned, and downbeat Chinese trade data fuelled concerns about the state of global demand.
Trend of the Day
Gold : 37 274 € +40€
Silver C3E sales : 548.40 € -5€
Platinum : 29 199 € -220€
Palladium : 16 677 € -90€
Euro/$ : 1.0989
Mar 07 - Oil prices jumped, extending a rally that has lifted crude benchmarks by more than a third from this year's lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery.
- Gold steadied below last week's 13-month high, its recent rally doused by robust U.S. employment data that underpinned expectations that the Federal Reserve could raise interest rates this year.
- London copper fell from four-month highs hit on Friday as traders took profits following last week's rally on concerns that prices had overshot fundamental demand.
- US wheat rose for a fourth consecutive session to hit a 2-1/2-week high as forecasts for adverse weather in key U.S. producing regions and fund buying underpinned gains.
- The dollar struggled after failing to gain on stronger-than-expected U.S. payrolls data, while the Australian dollar fell prey to profit-taking after its best weekly performance in more than four years.
Trend of the Day
Gold : 36 987 € -225€
Silver C3E sales : 545.24 € +5€
Platinum : 28 760 € +725€
Palladium : 16 208 € +150€
Euro/$ : 1.0989
Mar 04 - Crude futures rose in Asian trade, buoyed by renewed optimism prices may have bottomed out after official U.S. data showed oil production fell to its lowest level since November 2014.
- Gold edged lower, but was not far off a 13-month peak reached in the prior session when a weaker dollar and technical buying gave bullion its best day in two weeks.
- London copper was targeting its largest weekly advance in four months as renewed risk appetite fuelled support for commodities on hopes for further monetary stimulus from China, and signs of a stronger economy in the United States.
- Chicago wheat rose for a third straight session, with the market set for its biggest weekly gain since early December on concerns over dry weather in parts of the U.S. Plains.
- The dollar was on the defensive against its peers after soft service sector employment data dampened expectations the Federal Reserve would hike interest rates soon, looking to U.S. non-farm payrolls later in the session for possible relief.
Trend of the Day
Gold : 36 911 € +145€
Silver C3E sales : 537.51 € +5€
Platinum : 27 824 € +125€
Palladium : 15 682 € +240€
Euro/$ : 1.0989
Mar 03 - Oil prices edged higher as sentiment spread that a 20-month-long market rout is coming to an end as production slows amid strong demand.
- Gold edged lower as investors returned to risky assets after upbeat U.S. jobs data, lifting equities in Asia to a seven-week high, although strong inflows into gold funds limited losses in the metal.
- London copper hit its highest since mid-November as risk appetite stayed strong, fuelled by a revival in share markets and commodity prices that fanned hopes a global recovery was getting on track.
- U.S. wheat edged higher as the grain drew some short-covering support, but prices continued to linger near the lowest since June 2010 amid silo-busting global supplies.
- The dollar gained in Asia, on the eve of a U.S. jobs report that some investors hope will boost expectations that the Federal Reserve remains on track to hike U.S. interest rates this year.
Trend of the Day
Gold : 36 702 € -55€
Silver C3E sales : 527.69 €
Platinum : 27 620 € +30€
Palladium : 15 259 € -60€
Euro/$ : 1.0872
Mar 02 - Brent edged up following strong gains in Asian stocks, while U.S. oil eased on industry data that showed a huge build in U.S. crude stockpiles that were already at a record high.
- Gold dipped for a second straight session, as global equities and the dollar rose following strong U.S. manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year.
- London copper rose as U.S. manufacturing data stoked appetite for risk and as consensus grows that oil prices have reached a bottom, paving the way for a potential recovery in commodities.
- U.S. wheat edged higher, rebounding from losses of more than 1.5 percent in the previous session, although gains were checked by excess supplies.
- The dollar was steady against a basket of currencies in Asia, not far from the previous session's one-month high touched after brighter economic data rekindled expectations that the U.S. Federal Reserve could raise interest rates this year.
Trend of the Day
Gold : 36 335 € -335€
Silver C3E sales : 525.53 € -5€
Platinum : 27 716 € -175€
Palladium : 15 220 € +105€
Euro/$ : 1.0858
Mar 01 - Oil prices rose as falling U.S. and OPEC production tightened an oversupplied market and outweighed a slump in China's manufacturing sector that stirred fears of slowing demand growth.
- Gold jumped for a fifth session in six, bolstered by safe-haven demand after weak Chinese data stoked concerns over the global economy, with the volume of assets in the top bullion fund climbing to the highest since 2014.
- London copper slipped, as data showing a slowdown in factory activity in top consumer China offset a boost from the country's move to ease policy as well as lower Chilean supply.
- Chicago corn struggled, hitting it lowest in six weeks as easing demand for U.S. shipments and forecasts of crop-friendly weather in Argentina dragged on a market that has lost ground for four out of five sessions.
- The yen was broadly firmer after soft economic data weighed on the euro and dollar and as lingering nervousness over the health of the global economy favoured the safe-haven Japanese currency.
Trend of the Day
Gold : 36 647 € +200€
Silver C3E sales : 527.30 € +5€
Platinum : 27 640 € +495€
Palladium : 14 795 € +205€
Euro/$ : 1.0887
Feb 29 - Crude futures rose after gaining over 15 percent last week, with some indicators pointing to the possibility the market could be bottoming out.
- Gold edged up and looked set to log its best monthly performance in four years, bolstered as turmoil in stock markets drove safe-haven demand.
- London copper edged down from a three-month top amid light profit-taking, with steadying oil prices and brighter economic signals from the U.S. helping to build confidence commodities may be finding a bottom.
- U.S. corn rose for the first time in three sessions, rebounding from a 10-week low touched in the previous session, though gains were checked by the U.S Department of Agriculture pegging stocks at the end of next season at a 12-year high.
- The dollar slid sharply against the yen as investors took profits following the greenback's rally on Friday, traders said.
Trend of the Day
Gold : 36 047 € +20€
Silver C3E sales : 516.81 € -15€
Platinum : 26 961 € -240€
Palladium : 14 375 € -45€
Euro/$ : 1.0959
Feb 26 - War on cash to pump up silver, wine, art, gold: James Saft
Like it or hate it, the war on large-denomination cash will have an impact on other markets, as investors and crooks alike look for convenient stores of value. In short, if cash becomes harder to get in large size, look for money to flow to art, wine and precious metals, as investors lawful and of other stripes seek alternatives. click here.
Feb 26 - Crude oil prices dipped as reports of a meeting by oil producers to freeze output failed to convince traders that enough effort was being made to rein in ballooning global oversupply.
- Gold edged higher despite a rebound in stocks, underscoring support for the safe-haven metal from bullish technicals and money flows into exchange traded funds.
- London copper edged up, and was set to close February slightly higher as a gradual ramp up in activity following Lunar New Year was offset by concerns about weakness in the global economy.
- U.S. soybeans edged up, coming off a two-week low hit in the prior session, but prices were set for their first weekly loss in three as ample global supplies continued to weigh.
- The dollar edged down but was still on track for weekly gains against its major counterparts, as investors focused on the two-day Group of 20 nations' currency and economic talks that kicked off in Shanghai.
Trend of the Day
Gold : 35 920 € -155€
Silver C3E sales : 524.90 € -5€
Platinum : 26 721 € -435€
Palladium : 13 913 € -310€
Euro/$ : 1.1069
Feb 25 - Oil prices fell as strong gasoline demand and lower U.S. crude output failed to counter downward pressure from global overproduction that has left storage facilities swelling with unsold oil.
- Gold reversed early losses as volatility in stock markets stoked safe-haven demand, with bullion funds seeing fresh buying from investors.
- London copper climbed, underpinned by a weaker dollar and gains in steel, but the rise was curbed by worries that stuttering global growth is stunting activity in top metals consumer China.
- U.S. wheat rose for the first time in six sessions, rebounding slightly from more than a 5-1/2-year low, although bumper global supplies capped gains.
- Sterling licked its wounds near a seven-year low against the dollar, hampered by worries Britain may exit the European Union, while a rebound in oil prices helped stem buying in the safe-haven yen.
Trend of the Day
Gold : 36 180 € -315€
Silver C3E sales : 533.99 € -5€
Platinum : 27 499 € -290€
Palladium : 14 289 € -275€
Euro/$ : 1.1025
Feb 24 - Oil prices slid, extending sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in U.S. crude stockpiles.
- Gold retained sharp overnight gains, bolstered along with other safe-haven assets as risk-aversion in the market sent equities tumbling.
- London copper dropped as falling oil prices blunted appetite for risk, while worries resurfaced over the depth of demand from top consumer China.
- U.S. wheat fell to its lowest in more than five years, with ample global supply pushing down prices for a fifth consecutive session.
- The yen gained against key peers like the dollar and euro as sagging stocks and crude oil drove bids for the safe-haven currency.
Trend of the Day
Gold : 35 724 € +45€
Silver C3E sales : 531.43 €
Platinum : 27 313 € +185€
Palladium : 14 489 € -55€
Euro/$ : 1.1006
Feb 23 - Oil futures fell more than half a dollar given worries rising Iranian output would deepen a global oversupply, offsetting expectations of a drop in U.S. production that had spurred sharp price gains in the previous session.
- Gold edged up as Asian shares reversed gains and the dollar slipped, with the metal also supported by big inflows into bullion funds.
- London copper slipped from a two-week high hit the session before after China boosted metals imports in January, as traders worried about the sustainability of demand.
- U.S. soybeans edged lower as large global inventories capped gains in the market which climbed to a three week high in the last session on the back of strong U.S. export sales.
- The yen gained broadly as risky assets lost traction and revived demand for the safe-haven currency, while the sterling and euro were shaky after suffering hefty losses on uncertainty over Britain's membership in the European Union.
Trend of the Day
Gold : 35 483 € +115€
Silver C3E sales : 531.02 € +5€
Platinum : 26 983 € +60€
Palladium : 14 410 € -220€
Euro/$ : 1.1022
Feb 22 - Crude recovered following steep losses in the previous session, supported by a fall in the number of U.S. rigs in use, but analysts said general oversupply was keeping the market weak.
- Gold extended losses below its highest level in a year as the dollar and equities strengthened, but the metal remained underpinned above $1,200 an ounce as caution in financial markets prompted investors to channel money into bullion.
- London copper rose to its highest in more than two weeks as the resignation of the head of China's securities regulator and an uptick from the country's beleaguered steel industry sparked hope for metals demand.
- Chicago corn rose to its highest in more than two weeks, with strong U.S. exports and concerns over flooding in key exporter Argentina underpinning prices.
- Sterling tumbled, hitting a two-year low against the yen, as concern grew that Britain would quit the European Union after influential London Mayor Boris Johnson threw his weight behind the exit campaign.
Trend of the Day
Gold : 35 105 € -535€
Silver C3E sales : 527.45 € -5€
Platinum : 26 917 € -375€
Palladium : 14 371 € -335€
Euro/$ : 1.1096
Feb 19 - Crude fell in Asian trade as a record build in U.S. crude stocks stoked concerns about global oversupply, outweighing moves by oil producers including Saudi Arabia and Russia to cap oil output.
- Gold gave up some of its sharp overnight gains, but held above $1,200 an ounce as a drop in equities stoked fresh safe-haven demand for the metal.
- London copper edged up and was set to log a fourth weekly gain in five, as traders bought into low prices to build stocks ahead of a stronger season for demand in top user China.
- Chicago wheat futures slid for a second session, pulled lower by plentiful global supplies, although the market is on track for its first gain in three weeks on short-covering by investors.
- The yen gained broadly, hitting a fresh 2-1/2 year high on the euro thanks in part to renewed demand for the safe-haven Japanese currency as crude oil and equities wobbled again.
Trend of the Day
Gold : 35 369 € +305€
Silver C3E sales : 532.23 € +5€
Platinum : 27 178 € +105€
Palladium : 14 485 € -225€
Euro/$ : 1.1120
Feb 18 - Crude futures rose in Asian trade after Iran welcomed plans by Russia and Saudi Arabia to cap production, although analysts said the move would not lead to any output cuts and Tehran offered no action of its own.
- Gold clung to overnight gains that helped the metal snap a three-day losing streak on bets the Federal Reserve could slow the pace of U.S. interest rate hikes.
- London copper was little changed, as persistent jitters over global growth tempered support from soaring oil and a successful short-term debt refinancing by commodities giant Glencore.
- US wheat lost ground, while corn was largely unchanged as the grain markets took a breather after climbing for two days on short covering by investors amid a rally in crude oil prices.
- The Canadian dollar held at two-week highs, having benefited hugely from a jump in oil prices, while an absence of fresh cues in minutes of the Federal Reserve's January meeting saw the greenback shuffle sideways.
Trend of the Day
Gold : 34 826 € -155€
Silver C3E sales : 527.59 €
Platinum : 27 176 € +40€
Palladium : 14 771 € -55€
Euro/$ : 1.1145
Feb 17 - Gold snapped a three-day losing streak, in choppy trade that saw the metal swing between gains and losses around the key $1,200 an ounce level as stock markets consolidated recent gains.
- London copper edged down as oil prices consolidated following a Middle Eastern supply agreement that initially underwhelmed investors, while traders braced for further signs of distress in the global economy.
- US soybeans were little changed, trading near last session's highest since Feb. 4 with prices underpinned by delays in shipments from Brazil, but gains were capped by forecasts of crop-friendly weather in South America.
- The yen retook some ground against the dollar after a recent rebound in crude oil prices fizzled and revived demand for the safe-haven Japanese currency.
Trend of the Day
Gold: 34 838 € -60€
Silver C3E sales : 528.66 € -2€
Platinum : 26 980 € +140€
Palladium : 14 685 € +40€
Euro/$ : 1.1166
Feb 16 - China's steady commodity imports are remarkable in context: Russell
China's imports of major commodities presented a "steady-as-she-goes" picture in January, which doesn't sound that exciting but should go some way to hosing down some of the more alarmist fears over the state of the world's second-biggest economy.In a month where commodity prices were rattled by ongoing global growth fears, and equity markets also stumbled, it has to be reassuring to some extent that the physical flow of commodities to China looked more or less normal. click here.
Feb 16 - Oil prices surged to their highest levels in more than a week as news of a meeting of top officials from the world's biggest oil producers spurred speculation of an eventual deal to tackle a deep supply glut.
- Gold stretched its losses into a third session and tumbled below $1,200 an ounce, as easing concerns over the global economy buoyed stocks and hurt safe-haven demand for the metal.
- London copper rallied on hopes that China would take fresh measures to kickstart its economy after January trade was dragged down by faltering growth in global markets.
- Chicago soybeans futures climbed 1 percent, rising to their highest since Feb. 4, with prices underpinned by wet weather that is delaying Brazilian shipments and forcing importers to seek more cargoes from the United States.
- The dollar stood tall against the yen and euro as a bounce in equities and crude oil prices tempered global risk aversion that battered the greenback last week.
Trend of the Day
Gold : 34 487 € -385€
Silver C3E vente : 526.76 €
Platinum : 26 816 € -160€
Palladium : 14 575 € -265€
Euro/$ : 1.1162
Feb 15 - US crude oil futures edged lower as the dollar regained ground and as weak Chinese trade data stoked concerns about demand in the world's biggest energy consumer.
- Gold dropped 1 percent, falling for a second straight session after hitting its highest in a year last week, dragged down by a rebound in stock markets and selling from China after the Lunar New Year holiday while London copper and nickel surged with investors stocked up on the most heavily sold down metals.
- Chicago soybeans extended gains to one-week highs on Friday, as higher than expected U.S. export sales and the prospect of post-holiday demand in China boosted demand prospects.
Trend of the Day
Gold : 34 768 € -610€
Silver C3E sales : 524.70 € -10€
Platinum : 26 952 € -385€
Palladium : 14 852 € -175€
Euro/$ : 1.1213
Feb 12 - Oil prices jumped almost 5 percent after comments by the energy minister of OPEC-member United Arab Emirates sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely and that oversupply would persist.
- Gold clung to sharp overnight gains that pushed the metal to a one-year high, and looked set to post its best week in over four years as stock market turmoil stoked safe haven demand.
- London copper firmed but was still on track for its biggest weekly drop in a month as a holiday in top consumer China eroded buying and fears about the strength of European banks fuelled jitters over the global economy.
- Chicago soybeans climbed to a one-week high, rising for a second session on support from strong demand for U.S. exports as the market eyes the return of Chinese buyers to make further purchases.
- The dollar nursed losses that have put it on course for steep weekly drops against major currencies, with many investors favouring the perceived safe-haven appeal of the yen amid sinking global markets.
Trend of the Day
Gold : 35 331 € +100€
Silver C3E sales : 534.92 € +5€
Platinum : 27 110 € +195€
Palladium : 14 821 € +30€
Euro/$ : 1.1302
Feb 11 - Oil prices slid as record U.S. crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile until the second half of the year.
- Gold surged to its highest in 8-1/2 months as investors bet that the Federal Reserve could find it hard to hike U.S. interest rates this year, while safe-haven demand amid a tumble in equities and the dollar also boosted the metal.
- Copper climbed off its weakest level in a fortnight after U.S. Federal Reserve Chair Janet Yellen stressed that U.S. interest rates would rise gradually, sending the dollar lower.
- Chicago corn futures slid for a seventh consecutive session with the market trading near its lowest since January 15, weighed down by slowing U.S. demand for corn-based ethanol and ample global supplies.
Trend of the Day
Gold : 34 431 € +365€
Silver C3E sales : 526.10 € +10€
Platinum : 26 584 € +85€
Palladium : 14 861 € +10€
Euro/$ : 1.1271
Feb 10 - Crude oil prices pushed higher after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities.
- Gold rose for an eighth session out of nine, climbing towards a 7-1/2-month high as investors sought the safe-haven asset amid tumbling stock markets and concerns about the global economy.
- London copper slipped towards its lowest level in a fortnight as holidays in top consumer China entered a third day, while the dollar nursed losses around 3-1/2-month lows, pressured by fears of a global economic slowdown .
- Chicago wheat futures slid for a fifth straight session to trade near its lowest since 2010 as the market faced headwinds from a U.S. estimate of record global year-end stocks.
Trend of the Day
Gold : 33 854 € -140€
Silver C3E sales : 520.20 € -10€
Platinum : 26 403 € -150€
Palladium : 14 640 € -90€
Euro/$ : 1.1288
Feb 09 - Emerging markets hit by commodities, credit and currencies: Kemp
The global economy is being hit by a slowdown in growth, large swings in exchange rates and tumbling commodity prices. These three factors are often portrayed as separate “shocks” but should really be seen as manifestations of the same maturing financial and economic cycle. The case for a single interconnected adjustment was made by Jaime Caruana, general manager of the Bank for International Settlements (BIS) on Friday (“Credit, commodities and currencies” BIS, Feb 5). click here.
Feb 09 - Obama to call for increases in budget for SEC, CFTC - White House
President Barack Obama's fiscal 2017 budget will call for an 11 percent increase in funding for the Securities and Exchange Commission and a 32 percent increase for the Commodity Futures Trading Commission, a White House official said on Monday. Obama will propose that the SEC be given $1.8 billion and the CFTC $330 million in the budget, economic adviser Jeffrey Zients said in a blog post on the White House website. "Last year the Administration fought hard to keep Congressional Republicans from using must-pass budget legislation to roll back Wall Street Reform," he wrote, referring to fiscal 2016. click here.
Feb 09 - Crude oil prices jumped as much as 2 percent, shrugging off big drops in Japan's stock market and eroding some of the previous session's losses that were driven by festering concerns about global oversupply.
- Gold edged up to near its highest since June, as uncertainty over global growth that has hammered stocks puts the precious metal on course for its longest rally since 2011.
- London copper steadied, underpinned by a weaker dollar as worries over bank solvencies spilled over from global stock markets, and turnover was extremely low as traders waited for the return of top consumer China next week.
- U.S. soybeans were mostly unchanged and held near their lowest in almost a month as crop-friendly rains across Argentina continued to cap prices.
- The dollar skidded to its lowest levels against the yen since November 2014, as a sell-off in European and U.S. stocks continued into the Asian session and stoked demand for the perceived safe-haven Japanese currency.
Trend of the Day
Gold : 34 205 € -255€
Silver C3E sales : 529.68 € +10€
Platinum : 26 484 € +50€
Palladium : 14 608 € +250€
Euro/$ : 1.1181
Feb 08 - Crude oil futures rose in thin trade as many Asian markets were on holiday for Lunar New Year, with few trading cues expected until Federal Reserve Chair Janet Yellen gives testimony to lawmakers later in the week.
- Spot Gold stepped back from a three-month top hit the session before, after a U.S. jobs report cast some doubt over prospects for a quicker pace of rate hikes this year and pushed up the dollar.
- London copper edged down after the dollar firmed following a mixed U.S. jobs report, with the start of a week-long holiday in China draining liquidity from the market.
- U.S. soybeans fell to a 10-day low as rains across Argentina eased fears over dry weather curbing yields, although trading was light due to Lunar New Year holidays.
- The dollar extended its post-payrolls gains in a sluggish start to the week with the Lunar New Year holidays and the Super Bowl game all but guaranteeing a tepid session in Asia.
Trend of the Day
Gold : 33 640 € +389€
Silver C3E sales : 517.03 € +3€
Platinum : 26 163 € +171€
Palladium : 14 468 € -249€
Euro/$ : 1.1133
Feb 05 - Crude oil futures were steady in lacklustre trading as Asian liquidity faded ahead of the Lunar New Year holiday across large parts of the region.
- Gold was trading near its highest since October, on track for its strongest weekly gain in a month as the dollar was pressured by growing doubts the Federal Reserve can stick to its interest rate hike campaign.
- London copper edged down, but was set for a third consecutive week of gains as signs of stabilisation in the market and a weaker dollar convinced traders to shut positions ahead of Lunar New Year holidays next week in China.
- Chicago wheat slid for a second session with the market on track for its biggest weekly decline since late December as U.S. exports struggle to find buyers.
- The dollar steadied in Asian trading but remained on track for weekly losses, as investors braced for U.S. employment figures later in the session for the latest clues on the outlook for the Federal Reserve's monetary tightening path.
Trend of the Day
Gold : 33 143 € -15€
Silver C3E sales : 510.93 € +5€
Platinum : 25 897 € +135€
Palladium : 14 729 € +110€
Euro/$ : 1.1198
Feb 04 - Oil Crude oil futures extended gains from the previous session as a weaker dollar and unconfirmed talk of producers potentially meeting to discuss output cuts lifted the market despite record U.S. stocks due to overproduction.
- Gold stayed near a three-month top after marking its best day in two weeks, buoyed by expectations that global economic and financial headwinds could make it tough for the U.S. Federal Reserve to raise interest rates in the near term.
- London copper rose for second day to the most in a month as a falling U.S. dollar spurred interest in commodities, including oil, that prompted investors shorting the market to close their positions ahead of the Lunar New Year holiday.
- U.S. soybeans rose, recouping about half of the 1 percent losses from the previous session, though forecasts for much-needed rains in Argentina capped gains.
- The dollar nursed hefty losses against the yen and euro after tumbling overnight when a top Federal Reserve official tempered expectations on the timing of future U.S. interest rate increases.
Trend of the Day
Gold : 33 146 € +135€
Silver C3E sales : 511.08 € +5€
Platinum : 25 606 € +360€
Palladium : 14 748 € +295€
Euro/$ : 1.1074
Feb 03 - Oil futures extended losses into a third session in Asian trade, as U.S. crude stocks last week surged to more than half a billion barrels and as Iran plans to boost exports from March.
- Gold stabilised near a three-month top early, its safe-haven appeal kept intact by concerns over a wobbly global economy that has put share markets under pressure.
- London copper eased from a four-week high struck in the previous session as a flurry of pre-holiday short covering flickered out, although positive news out of top metals user China offered support.
- Chicago soybeans slid after scaling a six-week peak in the last session as expectations of weaker demand in top importer China during the Lunar New Year break weighed on the market.
- The yen edged higher against the dollar as falling oil prices sparked an investor flight into safer assets, driving down U.S. debt yields to 10-month lows and dulling the greenback's appeal.
Trend of the Day
Gold : 33 161 € -35€
Silver C3E sales : 504.30 €
Platinum : 25 209 € -175€
Palladium : 14 519 € -40€
Euro/$ : 1.0917
Feb 02 - Oil prices fell for a second session in Asian trade as worries about top energy consumer China and rising oil supply weighed on markets, although possible talks between OPEC and Russia on output cuts offered some support.
- Gold edged to a three-month high as weak global manufacturing activity underscored the challenges for the world economy, pushing investors towards safe-haven assets.
- London copper edged lower after China's factory growth slowed sharply in January, but solid Chinese imports of the metal in December have sparked confidence that prices are finding a floor.
- Chicago wheat futures were largely unchanged, after falling in the previous session with the market facing headwinds from plentiful global supplies and improved crop conditions in top U.S. producing areas.
- The yen edged higher as a fall in oil prices weighed on equities and risk appetite, while the Australian dollar slipped after the country's central bank held rates steady but left the door open to further easing.
Trend of the Day
Gold : 33 155 € -55€
Silver C3E sales : 504.52 € -5€
Platinum : 25 397 € -225€
Palladium : 14 643 € -190€
Euro/$ : 1.0912
Feb 01 - Oil prices fell after China and S.Korea posted weak economic data, while fading prospects for a coordinated output cut by leading crude exporters also hurt the market.
- Gold advanced at the start of the month while London copper slipped after China's manufacturing growth shrank at the fastest pace in more than three years in January.
- Chicago wheat lost ground with the market weighed down by expectations that top supplier Russia will leave taxes on grain exports unchanged.
- The yen nursed broad losses and the euro struggled for traction after the Bank of Japan adopted negative interest rates, heightening expectations that the European Central bank will ease policy too.
Jan 29 - Brent crude futures rose, moving nearly 8 percent higher so far this week and set for a second weekly gain and set for a second weekly gain, spurred by hopes of a deal among oil-producing countries to tackle a growing supply glut.
- Gold steadied after recent gains that lifted the metal to its highest since November, keeping it on track to end January with its strongest monthly climb in a year.
- London copper firmed and was set for a second weekly gain as traders took heart from stabilising oil prices, solid China imports despite a slowing economy, and stockpiling ahead of the Lunar New Year.
- Soybeans edged higher, with the market set for its first monthly gain since September on concerns over adverse harvest weather in South America, but gains have been capped by the cancellation of U.S. shipments to China.
- The yen was weaker after the Bank of Japan's stunning announcement it was adopting a negative interest rate policy, though some of the currency's initial sharp losses were pared.
Trend of the Day
Gold : 32 904 € +120€
Silver C3E sales : 505.21 € +25€
Platinum : 25 686 € -325€
Palladium : 14 614 € -85€
Euro/$ : 1.0890
Jan 28 - Crude oil futures fell around 1 percent in Asian trading, eroding gains of nearly 3 percent made in the previous session after Russia held out the possibility of cooperating with OPEC to control global oversupply.
- Gold edged down from 12-week highs while London copper slipped from a three-week peak, dragged down by concerns the United States may hike interest rates again this year before markets in other regions have stabilised.
- U.S. wheat extended its losses, after suffering its biggest daily drop in two weeks in the previous session, with Russia's plans to remove or cut export taxes hurting the market.
- The U.S. dollar turned mixed after the Federal Reserve offered little in the way of surprises, in contrast to New Zealand's central bank which flung open the doors to a cut in rates and clipped the kiwi in the process.
Trend of the Day
Gold : 33 037 € +65€
Silver C3E sales : 510.67 € +5€
Platinum : 25 947 € +95€
Palladium : 14 688 € +110€
Euro/$ : 1.0879
Jan 27 - Crude oil futures headed back towards $30 a barrel as profit-taking wiped out a chunk of the gains notched up in the previous session on hopes for output cuts.
- Gold beamed near a 12-week peak, supported by a softer dollar, while London copper edged down as investors awaited the outcome of the Federal Reserve's first policy meeting of the year.
- U.S. wheat edged lower, falling for the first time in five session, although uncertainty surrounding Russia's export policy kept prices near a one-month high.
Trend of the Day
Gold : 33 064 € +15€
Silver C3E sales : 510.60 €
Platinum : 25 873 € +135€
Palladium : 14 548 € -295€
Euro/$ : 1.0873
Jan 26 - Gold rallied to its highest since November, with investors shifting to safe-haven assets as worries over a slowing global economy hit stocks and crude oil again.
- Copper edged higher with the dollar under pressure just before the Federal Reserve begins its first policy meeting for the year.
- U.S. wheat futures rose for a fourth straight session to trade near their highest in almost two weeks, buoyed by short-covering and expectations of export curbs by Russia.
Trend of the Day
Gold : 32 999 € +160€
Silver C3E sales : 509.89 € +5€
Platinum : 25 429 € -150€
Palladium : 14 518 € -140€
Euro/$ : 1.0873
Jan 25 - Moody's puts 175 commodity firms on review over bleak outlook
Moody's has placed 175 oil, gas and mining companies on review for a downgrade due to a prolonged rout in global commodities prices that it says could remain depressed for some time.Warning of possible downgrades for 120 energy companies, the rating agency said there was a "substantial risk" of a slow recovery in oil that would compound the stress on firms already pummelled by a 75 percent drop in prices since June 2014. click here.
Jan 25 - Crude futures extended gains following a surge at the end of last week on short-covering.
- Chicago corn hovered near a one-month high as strong demand for U.S. supplies and a rally in oil prices underpinned the market.
- Gold edged higher, buoyed by expectations that the U.S. Federal Reserve may have fewer chances to raise interest rates this year.
- Copper lost ground, snapping two sessions of gains, dragged by expectations of a firm U.S. dollar and concerns about demand in top consumer China.
Trend of the Day
Gold : 32 812 € +230€
Silver C3E sales : 503.36 €
Platinum : 24 984 € +210€
Palladium : 14 735 € -345€
Euro/$ : 1.0823
Jan 22 - Oil prices rose for a second session, moving further away from 12-year lows plumbed earlier this week, as cold U.S. and European weather as well as firmer financial markets gave traders reason to cash in on record short positions.
- Gold slipped as the euro fell and London copper looked set for its biggest weekly gain since October, after the European Central Bank hinted at further policy easing amid turmoil in global markets and weaker growth across emerging economies.
- U.S. soybeans rose for a second session, with the market on track to eke out gains for a third straight week on concerns over adverse weather in Brazil and estimates of lower production in Argentina.
- The dollar firmed against a basket of currencies, as rising expectations of monetary easing by other major central banks offset fading chances of more rate hikes from the Federal Reserve.
Trend of the Day
Gold : 32 577 € +15€
Silver C3E sales : 501.96 € +5€
Platinum : 24 404 € +170€
Palladium : 14 814 € +20€
Euro/$ : 1.0830
Jan 21 - Senate committee chairman asks CFTC to explain major accounting error
Senate Agriculture Committee Chairman Pat Roberts has asked for a full explanation from the U.S. Commodity Futures Trading Commission for an accounting error that led auditor KPMG to withdraw nearly a decade of financial opinions about the agency’s accounts. The Republican senator "has already begun inquiries at the CFTC for a full accounting" of the problem, a spokesperson for the committee, which provides Congressional oversight of the U.S. derivatives regulator, told Reuters on Wednesday. click here.
Jan 21 - Oil prices dipped, erasing modest early gains as analysts said a persistent global surplus of crude would keep pressuring the market.
- Safe-haven appeal of gold remained intact, with the precious metal hovering near a 1-1/2 week high in Asia.
- London copper prices steadied, though the metal languished near 6-1/2 year lows.
- Chicago corn rose to a one-month high, climbing for a fourth consecutive session, buoyed by South African imports and expectations of lower U.S. planting this year.
- The dollar came off a one-year low against the yen, while the euro awaited a policy decision from the European Central Bank for near-term cues.
Trend of the Day
Gold : 32 516 € +35€
Silver C3E sales : 501.53 € +5€
Platinum : 24 004 € -140€
Palladium : 14 491 € +180€
Euro/$ : 1.0916
Jan 20 - KPMG withdraws audit opinions on CFTC over accounting error - documents
The U.S. regulator that polices the complex derivatives markets is struggling to keep its own books in order and has made a material error that its auditor found so significant that it withdrew nearly a decade of its financial opinions, according to documents seen by Reuters.The Commodity Futures Trading Commission understated liabilities by $194 million in fiscal 2014 and $212 million the following year, the agency's auditor KPMG estimated in the documents. The understatements are the equivalent to more than 75 percent of the CFTC's $250 million annual budget. click here.
Jan 20 - Crude Oil futures slumped again in Asian trade, losing more than 2 per cent as U.S. oil dropped towards $27 a barrel, its lowest since 2003, on worries about global oversupply.
- Gold edged higher as a further fall in equities and oil burnished bullion's safe-haven draw, although slow physical demand from Asia kept the metal well under this month's peak.
- US soybeans lost ground, giving up some of last session's gains as South American supply was seen hitting records despite concerns over wet harvest weather in Brazil
- London copper fell slightly, but it was buoyed as a relative calm emerged in some commodity markets on hopes that China could take more steps to boost its slowing economy.
- The dollar retreated as crude oil prices descended to near 13-year lows, hitting risk asset markets and putting safe-haven currencies such as the Japanese yen back in favour.
Trend of the Day
Gold: 32 146 € +90€
Silver C3E sales : 497.32 €
Platinum : 24 102 € -565€
Palladium : 14 461 € -300€
Euro/$ : 1.0939
Jan 19 - Oil prices stabilised, supported by strong Chinese fuel consumption and halting a slide to 2003 levels earlier in the week after the full return of Iran to markets added to an already huge supply overhang.
- Gold steadied as equities were pressured by data showing China's economy grew at its slowest clip since 2009 in the fourth quarter, pushing investors towards safe-haven assets.
- London copper climbed after China's fourth quarter growth met expectations, with some relief that the world's No.2 economy hadn't shown a more marked deterioration.
- The safe haven yen sagged as China's fourth-quarter economic growth matched expectations, but its losses were likely to be limited amid persisting worries about the global economic outlook.
Trend of the Day
Gold : 32 181 € +40€
Silver C3E vente : 497.66 € +5€
Platinum : 24 505 € +425€
Palladium : 14 780 € +170€
Euro/$ : 1.0877
Jan 18 - Oil prices hit their lowest since 2003, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country over the weekend.
- Gold opened the trading week higher, buoyed by safe-haven bids after Asian equities tumbled to their lowest since 2011 as investors shunned risky assets on the heels of weak U.S. economic data.
- London copper climbed as Beijing prepared fresh steps to stabilise its currency, potentially shoring up its metals demand, but worries persisted and kept prices close to six-year lows.
- The safe haven yen shed earlier gains after China's central bank unveiled a fresh step to curb offshore speculation in the yuan and also set a firmer guidance rate, soothing worries about the risk of a rapid fall in the yuan.
Trend of the Day
Gold : 32 186 € +105€
Silver C3E sales : 492.00 € +5€
Platinum : 24 293 € -350€
Palladium : 14 375 € -75€
Euro/$ : 1.0892
Jan 15 - U.S. crude oil futures fell in Asian trade, heading lower after posting the first significant gains for 2016 in the previous session, as the prospect of additional Iranian supply looms over the market.
- Gold edged higher after dropping for the past four out five sessions and the market was on track for its biggest weekly decline since early November on pressure from a rebound in equities.
- London copper slipped, poised for a second weekly loss, as China's new loan data was the latest in a litany of lukewarm indicators to fan concerns over its metals demand.
- U.S. wheat fell for a third session and was poised to record weekly losses of more than 2 percent as prices came under sustained pressure from ample global supplies, offsetting forecasts for U.S. plantings to fall to a six-year low.
- The dollar edged down in Asian trade, erasing its early gains as slumping crude oil futures and Chinese shares eroded investors' appetite for risk, though it remained well above the week's lows and on track to end a volatile week modestly higher.
Trend of the Day
Gold : 32 059 € -5€
Silver C3E sales : 491.46 € -5€
Platinum : 24 679 € +15€
Palladium : 14 529 € +205€
Euro/$ : 1.0865
Jan 14 - Brent crude fell to another 12-year low as the prospect of more oil supplies from Iran loomed, amid gloom over a world already awash with supply and concerns about global economic growth hitting equity markets.
- Gold edged lower as the market paused after last session's 0.6-percent gain, which was triggered by falling global equity markets and weakness in the U.S. dollar.
- London copper fell to its lowest since May 2009 on widening concerns that a slide in oil prices could derail a global economic recovery, compounding worries about China's waning demand growth for commodities.
- U.S. wheat eased, falling off a three-week top touched in the previous session, as a U.S. Department of Agriculture report provided only short-term support as global economic growth concerns and ample global supply weighed on prices.
- The Canadian dollar fell to its lowest level since April 2003 as oil prices extended losses, while the Indonesian rupiah slipped after militant attacks in Jakarta.
Trend of the Day
Gold : 32 280 € +25€
Silver C3E sales : 501.12 € +10€
Platinum : 25 115 € +80€
Palladium : 14 305 € -250€
Euro/$ : 1.0855
Jan 13 - Latest oil slide triggers more bets against commodity currencies
Bets against commodity-linked emerging currencies are on the rise again as crude prices fall to around $30 a barrel, but volatility remains well below the peaks of last year. Brent crude's renewed tumble this year has put commodity exporters' currencies on course to extend last year's losses and some, such as the South African rand and the Mexican peso, have hit record lows. The Russian rouble is inching lower too, 4 percent off record lows struck towards the end of 2014, and these spot market losses are filtering into options markets where investors can try to hedge against further weakness. click here.
Jan 13 - Crude futures rose for the first time in eight days, with U.S. oil pulling further away from the widely watched $30-per-barrel level breached the previous session, after U.S. crude stocks unexpectedly fell last week.
- Gold lost more ground as a rebound in stock markets reduced some of the precious metal's safe haven appeal with additional pressure from a strengthening greenback.
- London copper revived from more than six-year lows touched the session before as steadying stockmarkets in China offered investors a pause for profit-taking on short positions.
- U.S. wheat edged lower, though prices remained near a three-week high, as the U.S. Department of Agriculture's forcecast of smaller than expected plantings provided a floor to losses.
- The dollar and risk-sensitive currencies recovered ground against the yen and the euro after China's central bank held the yuan steady and better than expected Chinese trade data helped reduce some of bearishness toward the world's second largest economy.
Trend of the Day
Gold : 32 101 € -70€
Silver C3E sales : 490.60 € -5€
Platinum : 24 803 € -175€
Palladium : 13 855 € -70€
Euro/$ : 1.0837
Jan 12 - Crude oil prices continued a relentless dive early, falling almost 20 percent since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls.
- Gold edged higher, snapping two sessions of decline, as concerns over China's economic growth and pressure on stock markets rekindled the safe-haven status of the precious metal.
- London copper dipped to its weakest since 2009 in volatile trade, with fresh selling unleashed on worries over China's teetering economy and amid a seasonal slowdown in demand ahead of the Lunar New Year.
- U.S. wheat fell for a second day, dropping 2.3 percent in the past two days, though market sentiment remained cautious with a widely-watched U.S. government report out later today that is expected to give more firm direction for prices.
- The dollar edged down against the euro and yen in Asian trade, moving back toward a more than four-month low against the perceived safe-haven Japanese currency as crude oil prices continued to tumble.
Trend of the Day
Gold : 32 305 € -190€
Silver C3E sales : 489.80 € -5€
Platinum : 24 478 € -730€
Palladium : 13 448 € -885€
Euro/$ : 1.0902
Jan 11 - Crude oil prices fell over 2 percent as China's economic slowdown dented the outlook for demand and traders are placing record bets on even lower prices as they increasingly lose faith in a significant market recovery.
- Gold edged higher, trading close to last session's nine-week high as pressure on Asian stock markets supported safe-haven bids for the metal.
- London copper sank to its lowest since 2009 as persistent concerns over China's economic growth dimmed prospects for metals demand and dented appetite for risk.
- U.S. wheat hit its highest in nearly three weeks as traders prepared for a widely watched U.S. Department of Agriculture report, but ample global supplies capped gains.
- The safe haven yen eased against the dollar after China's central bank set a stronger guidance rate for the yuan, soothing fears that Beijing is trying to weaken its currency to gain a competitive export advantage.
Trend of the Day
Gold : 32 552 € -25€
Silver C3E vente : 492.96 € -5€
Platinum : 25 668 € -205€
Palladium : 14 263 € -685€
Euro/$ : 1.0910
Jan 08 - Oil prices rose more than 2 percent, following China shares higher after Beijing deactivated a circuit breaker mechanism that was blamed for aggravating equity market crashes, although a persistent global crude surplus kept a lid on gains.
- Gold gave up gains after hitting a nine-week high above $1,100 an ounce, as China guided the yuan higher for the first time in nine days, supporting Asian equities.
- London copper sank to near its weakest since mid-2009 after an equity rout this week jangled nerves over Beijing's ability to revive its shuddering economy, casting a pall over the demand outlook from the world's top user of metals.
- Chicago corn futures edged higher but the market was on track for a fifth week of decline, pressured by ample world supplies and slowing demand for U.S. shipments.
- The yen reversed course and sagged against the dollar while the Australian dollar rebounded after the People's Bank of China (PBOC) set a higher yuan guidance rate for the first time in nine days.
Trend of the Day
Gold : 32 547 € -225€
Silver C3E vente : 498.94 €
Platinum : 25 935 € +325€
Palladium : 14 727 € +340€
Euro/$ : 1.0872
Jan 07 - Brent crude futures fell to a fresh 11-year low as a sliding yuan and an emergency halt in China's stock trading left Asian markets in a turmoil, while a huge supply overhang and near-record output levels also continued to drag on oil prices.
- Gold climbed above $1,100 an ounce for the first time in nine weeks as investors channelled money into the safe-haven metal amid a global stock market rout, worries over the Chinese economy and heightened geopolitical tensions.
- London copper fell after China's stock markets tumbled limit down in early trade, fuelling concerns about the demand for industrial metals in the world's second biggest economy for the year ahead.
- U.S. corn slipped to trade near a six-month low hit in the previous session, while soybeans eased after gaining over the past two days as expectations of bumper South American production anchored prices.
- The yen hit multi-month highs against its peers while commodity-linked currencies took a fresh hit after China guided the yuan lower for two days in a row, fuelling anxiety about China's economy and its policy intentions.
Trend of the Day
Gold : 32 676 € +35€
Silver C3E sales : 501.07 €
Platinum : 25 833 € -275€
Palladium : 14 911 € -610€
Euro/$ : 1.0803
Jan 06 - Oil prices gave back earlier gains, retreating towards the previous session's close near 11-year lows as concerns over growing supply and rising stock levels outweighed tensions between key Middle East producers.
- Gold retained gains from a two-day rally, paring earlier losses as investors sought safety in the metal amid escalating tensions in the Korean peninsula and the Middle East, and worries over the Chinese economy.
- London copper prices fell as sentiment remained shaky after data showed slower service sector growth in top consumer China, following on from a contraction in factory activity and a steep sharemarket selloff this week.
- U.S. soybean futures edged lower, giving up some of last session's gains as forecasts of record exports from Brazil and a lack of demand for U.S. shipments weighed on the market.
- The yen vaulted to a near three-month high against the dollar and multi-month highs versus other currencies as investors sought shelter in low-risk assets after weak economic news from China and a possible nuclear test in North Korea.
Jan 05 - Oil prices rose as Asian stock markets stabilized following heavy losses in the previous session, but weak oil market fundamentals with production levels persistently above global demand kept a lid on gains.
- Gold added to an overnight surge in prices, as escalating geopolitical tensions in the Middle East and a global stock market rout triggered safe-haven bids for the metal.
- London copper rebounded slightly from a two-week low, as China's stock markets stabilised after a rout on Monday fanned by poor factory growth figures that worsened the outlook for metals demand in the world's second-biggest economy.
- Chicago corn edged higher, rebounding after sliding in the previous session on concerns over global demand growth and ample supplies to its lowest since early September.
- The yen's rally against the dollar and euro stalled after a slide in China's share markets halted, although the dealers remained on guard as it was uncertain whether Chinese equities had found a bottom.
Trend of the Day
Gold : 32 017 € -85€
Silver C3E sales : 498.50 € +5€
Platinum : 26 435 € -15€
Palladium : 16 117 € -175€
Euro/$ : 1.0812
Jan 04 - The dollar fell to a 10-week low against the yen as tensions in the Middle East and soft Chinese data added bids to the safe-haven Japanese currency in the first trading session of 2016. Gold inched higher, bolstered by safe-haven bids following rising geopolitical tensions in the Middle East that knocked equities and the dollar lower.
Trend of the Day
Gold : 31 486 € +160€
Silver C3E sales : 491.66 € +5€
Platinum : 25 814 € +165€
Palladium : 16 071 € -20€
Euro/$ : 1.0923