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EUR/USD, Gold analysis: European open – 31st May 2023
Weak China PMI data has weighed on sentiment ahead of today's European open, helping to support gold ahead of the vote on the debt-ceiling bill in the House of Republicans.
EUR/USD, gold, S&P 500 analysis: Commitment of traders report (COT)
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.
Crude Oil, Gold Analysis: RBNZ hike, UK CPI data and Fed minutes loom
FX markets were quiet ahead of the Fed minutes and UK CPI data, excluding the Kiwi dollar which plunged as the RBNZ delivered a dovish hike.
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Crude oil outlook: WTI could climb to $80
My crude oil outlook remains bullish and reckon WTI could climb to $80. The "weaker demand" narrative is likely priced in and OPEC cuts point to tight market.
EUR/USD, GBP/USD, AUD/USD: Commitment of traders report (COT) – 05/22/2023
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.
The history of money: from silver coins to credit cards
Learn about the full history of money to see how currency evolved from barter systems to bitcoin. In this timeline, we go deep on the evolution of money including the development of banking establishments and the future of cashless societies.
Commitment of traders report (COT):
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.
WTI outlook: Oil prices extend rebound after NFP
After a big drop earlier in the week, WTI has staged an impressive bounce, boosting the WTI outlook, especially in light of the OPEC’s ongoing supply cuts
What are the most traded commodities?
The top ten most traded commodities include fuels, metals, and agricultural products. Read the complete ranking to see where commodities like crude oils, copper, and coffee beans all rank.
WTI Forecast: Crude likely heading higher after OPEC+ cuts
The OPEC+ decision means nearly 1.7 million barrels of oil per day will be held back from global supply. This should help to keep the WTI forecast supported.
Silver forecast: Metal heading to $25?
Falling US dollar is boosting the silver forecast, along with gold and copper. Precious metals have had a great month so far and that run could continue.
Crude plummets - will OPEC come to rescue?
We might see an oversold bounce in prices soon but until something changes fundamentally, the path of least resistance would remain to the downside
Commodity prices forecast to be strong in 2023
The StoneX Metals and Energy Markets Annual Outlook forecasts double digit percentage increases for seven out of twelve commodities tracked.
Gold down but not out as traders eye NFP
All the attention is going to be on the US jobs report.
Commitment of traders report (COT)
Whilst traders remain net-long the US dollar, around $7 billion of net-long exposure was unwound last week alone.
Copper strength signaling stronger Yuan
The correlation coefficient between Copper and USD/CNH is -0.83. As long as this correlation is below -0.80, USD/CNH could be used as a proxy for copper.
Silver’s rally has been strong, but a pullback could be due
Silver prices have rallied nearly 40% since the September low, yet key resistance looms around $25 and a multi-week bearish divergence is forming.
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OPEC+ preview: Will OPEC+ cut production again?
According to recent “sources”, OPEC+ is likely to leave production unchanged when it meets virtually on December 4th.
Copper turns red as China concerns mount
The situation is escalating, and people don’t want to be caught offside with the weekend fast approaching.
USD to regain strength after hawkish Fed comments?
The dollar caught a bid following hawkish comments from two Fed members late in the US session, which leaves the potential for a follow-through today.
WTI falls as demand concerns intensify
Oil investors' focus is turning back to the demand side of things and in particular China...
Gold hits 3-month high, UK data dump up next
Gold enjoyed its best day in 8-months following the US inflation report and shows the potential to extend it run.
Gold eyes fresh breakdown as China fears add fuel to fire
It was always going to be an uphill struggle for the metal...