Category: Commodity
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New Zealand data – ANZ Commodity Price Index, August 2024: +2.1% m/m (prior -1.7%)
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For the New Zealand dollar, the index rose 1.5% on a monthly basis as the NZD Trade Weighted Index fell 0.7%. As part of this report, ANZ covers global shipping rates: Global freight rates remain high as ships continue to avoid the Suez Canal due to ongoing tensions in the…
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Commodity Roundup: UBS’s Marcelli sees higher prices ahead despite demand concerns
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Oselot/iStock via Getty Images Concerns about slowing Chinese demand have weighed on commodity prices recently. However, UBS’s chief investment officer still sees commodity prices rising in the future due to strong demand and limited supply, and expects the asset class to offer strong diversification benefits to a portfolio. Context. “We…
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China’s Plenum Promises Cues for Commodity Bulls and Bears
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Breadcrumbs Path Links PMN Business Chinese commodities markets entered the second half of the year on a downward trend, raising expectations that next week’s major policy meeting in Beijing will show how the government plans to deal with problems related to excess capacity and slumping demand. Article author: Bloomberg News…
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Oil price bounce drives global commodity open interest value rebound – JPM
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JPM Commodities Research said the estimated value of open contracts in global commodity markets rose 1% during the week to $15 billion, with gains driven entirely by the energy sector, while it expects LME copper prices to trade at around $9,800 per metric ton. In the future. a fourth. Net…
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Commodity Roundup: Oil ticks lower as China’s factory output disappoints, gold down
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Energy markets fell on Monday at the start of a holiday-shortened week, following the biggest weekly gain for crude oil in nearly two months, as traders assessed the demand situation and factory production data in China, while the escalating crisis in the Red Sea was on the verge of collapse.…
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Commodity Roundup: Crude oil down 2%, gold subdued as dollar firms (Commodity:CL1:COM)
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to imagine Gold prices (XAUUSD:CUR) fell on Tuesday as the US dollar held firm, with focus turning to jobs data, while oil extended its declines after hitting a four-month low, as investors continue to weigh OPEC+ production decision. Bullion rose on Monday The data also showed that manufacturing activity in…
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JPMorgan recommends defensive, commodity stocks ahead of rate cuts By Investing.com
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Strategists at JP Morgan believe investors should consider a shift toward defensive stocks and commodity stocks in anticipation of upcoming interest rate cuts by central banks. Historically, defenses have suffered when bond yields have been rising, but that phase may be ending, the Wall Street giant notes. Now, during the…
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Copper prices to quadruple on soaring demand, top commodity trader Andurand says
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SimoneN/iStock via Getty Images Hedge fund manager Pierre Andurand, one of the world’s most famous commodities traders, believes that the rise in copper prices still has much further to go and could be close to… Four times as much as $40,000 per metric ton For the next few years, the…
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BofA turns bullish on EUR/CAD amid rate and commodity signals By Investing.com
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Bank of America (BofA) has shifted its stance to a bullish view on EURCAD () for the current week. The bank’s positioning analysis indicates that the immediate upside trend is expected to continue. In addition, Bank of America’s Cross-Asset Risk Analysis System (CARS) model supports a bullish outlook for the…
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Commodity Roundup: Gold eases as steady dollar dampens appeal, oil prices mixed
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Bright stars Precious metals fell on Tuesday, with gold trading around $2,315.12 an ounce, as a stable US dollar made bullion less expensive for foreign buyers, while investors awaited more clues on when the Federal Reserve will deliver its first interest rate cut. After the US central bank signaled last…