Commodity prices are under heavy pressure amid broad-based risk aversion ahead of the opening bell on Wall Street as markets respond to yesterday's FOMC monetary policy announcement. Fed Chairman Ben Bernanke said policymakers can conceivably begin to reduce the size of monthly asset purchases this year, with an eye to discontinue them by mid-2014.
By Ilya Spivak | Jun 20 | DailyFX
Commodity prices are under pressure into the end of the trading week in a move that looks very much like the return of familiar risk-averse dynamics. Cycle-sensitive crude oil and copper prices are following stocks lower while the US Dollar is reclaiming its safe-haven credentials, pushing higher and applying de-facto selling pressure to gold and silver.
By Ilya Spivak | May 31 | DailyFX
Cycle-sensitive crude oil and copper prices are under pressure as risk aversion sweeps financial markets ahead of the opening bell on Wall Street. S&P 500 futures are trading firmly lower, hinting more of the same is likely ahead. Gold and silver are treading water in familiar ranges.
By Ilya Spivak | May 29 | DailyFX
Cycle-sensitive crude oil and copper prices are trading cautiously higher amid a broad-based recovery in risk appetite. A quiet European economic calendar shifts the spotlight to May's US Consumer Confidence report, where sentiment is expected to print at the highest in six months.
By Ilya Spivak | May 28 | DailyFX
The spotlight is on April's US Retail Sales report to start the trading week. Expectations call for receipts to decline 0.3 percent, marking the second consecutive print in negative territory. Despite a handful of recent upside surprises, US economic news-flow has tended to underperform relative to consensus forecasts since late March.
By Ilya Spivak | May 13 | DailyFX
The Reserve Bank of Australia made history last night cutting its key benchmark interest rate to an all-time low at 2.75%, a 25-bps rate cut from 3.00% that generally surprised market participants. According to Bloomberg News, of the 29 economists surveyed, 21 had expected a hold; and the Credit Suisse Overnight Index Swaps were pricing in a 52% chance of a 25-bps cut.
By Christopher Vecchio | May 07 | DailyFX
Commodity prices are treading water in overnight trade as all eyes turn to the European Central Bank monetary policy announcementamid widespread speculation about a 25bps interest rate cut to address the region's deepening recession.
By Ilya Spivak | May 02 | DailyFX
Commodity prices are under pressure in European trade but the move seems to lack clear-cut conviction, appearing to be a by-product of protective profit-taking ahead of big-ticket event risk that is being amplified by thin liquidity as most regional exchanges remain closed for the Labor Day holiday.
By Ilya Spivak | May 01 | DailyFX
Commodity prices are treading water in European trade as the spotlight turns to US Consumer Confidence figures.Expectations call for a narrow increase to 61.0 in April compared with 59.7 in the prior month.
By Ilya Spivak | Apr 30 | DailyFX
Commodity prices are on the upswing to start the trading week as risk appetite firms across the financial markets. The newswires are chalking up the chipper mood to rising monetary stimulus expectations ahead of this week's FOMC and ECB policy announcements. The Fed is expected to strike a dovish tone, reinforcing the continuity of QE3 in the wake of recently soft US data.
By Ilya Spivak | Apr 29 | DailyFX
Commodity prices are under pressure in European trade as risk appetite flounders across the financial markets. Cycle-sensitive crude oil and copper prices are following stocks. Gold and silver are likewise under pressure, although losses are relatively modest as an overnight decline in USDJPY keeps the greenback broadly contained, underpinning anti-fiat assets.
By Ilya Spivak | Apr 26 | DailyFX
Commodity prices are on the upswing as risk appetite firms across financial markets in the wake of better-than-expected UK GDP figures. Cycle-sensitive crude oil and copper prices are following stocks higher while gold and silver are finding support on ebbing haven demand for the US Dollar.
By Ilya Spivak | Apr 25 | DailyFX