Summary
Commodities have had a wild ride in the past decade, from record heights in the summer of 2008 followed by the steepest plunge on record in the financial crash. Recovery through 2011 was succeeded by a long decline that has left the Bloomberg Commodity index at its lowest point since April 2002. The index closed on Thursday, July 23rd 7.5% lower than it was at the depth of the last recession. Traditionally commodity prices are the indicators for the revolutions of the business cycle. But in the past 15 years and particularly in the era of central bank zero interest rates they have become a vehicle for trading profits and returns unavailable in other markets. Does the precipitous fall in commodity prices in the past four years predict a coming contraction in demand and recession, is it the result of the withdrawal of trading capital from markets as rates begin to rise, or is it the residue of over investment in production from a decade of artificially low interest rates? Join us for an examination of the commodity market in flux.Latest Live Videos
Editors’ Picks
EUR/USD clings to modest gains above 1.0850 ahead of Fedspeak
EUR/USD trades marginally higher on the day above 1.0850 on Tuesday. In the absence of high-tier data releases, the cautious market mood helps the USD hold its ground and limits the pair's upside. Investors will continue to scrutinize comments from central bank officials.
GBP/USD stays in positive territory above 1.2700, awaits fresh catalysts
GBP/USD holds small gains above 1.2700 in the second half of the day on Tuesday. Investors await fresh catalysts, with several Federal Reserve speakers and BoE Governor Andrew set to speak. Tuesday's Fedspeak weighed on rate cut expectations and helped the USD find a foothold.
Gold rebounds above $2,420 following earlier decline
Gold gained traction and climbed above $2,420, erasing a large portion of its daily losses in the process. The pullback in the benchmark 10-year US Treasury bond yield helps XAU/USD stage a rebound following the sharp retreat seen from the all-time high set at the weekly opening at $2,450.
Shiba Inu price flashes buy signal, 25% rally likely Premium
Shiba Inu price has flipped bullish to the tune of the crypto market and breached key hurdles, showing signs of a potential rally. Investors looking to accumulate SHIB have a good opportunity to do so before the meme coin shoots up.
Three fundamentals for the week: UK inflation, Fed minutes and Flash PMIs stand out Premium
Sell in May and go away? That market adage seems outdated in the face of new highs for stocks and Gold. Optimism depends on the easing from central banks – and some clues are due this week.