Iran and Gulf states are set to hold a meeting aimed at securing buy-in for a temporary deal to manage shipping through the Strait of Hormuz, the Financial Times reported on Friday. The gathering is scheduled to be held on Monday in Salalah, the report said, citing two people briefed on the matter. Regional states seek a […]
If you want to trade a volatile asset class right now, foreign exchange, specifically yen crosses and USD/JPY, is the place to find it. The yen has seen a huge uplift in its volatility in recent days, and is higher by more than 1.5% so far this week. A story of intervention The yen is […]
Copper futures traded around $6.45 per pound on Friday after plunging nearly 5% in the previous session, pressured by reports that the US is reconsidering plans to impose import tariffs on refined metals. US officials were reportedly concerned that the proposed levies could push domestic copper prices even higher and increase manufacturing costs. The metal […]
US heating oil prices climbed to around $5.12 per gallon, their highest level on record, amid persistent tight distillate supplies. EIA data showed that US distillate stockpiles, which include diesel and heating oil, rose by 2.1 million barrels in the week ended September 4, but remained 13% below the five-year average, indicating that inventories remain […]
Corn futures hovered above $5.1 per bushel, near their highest since mid-2023, supported by tightening global supply as disruptions to Ukrainian exports reshape trade flows. Argentina is on track for record corn exports as buyers turn to its supplies following disruptions to Ukrainian shipments caused by Russian attacks on Black Sea ports. Argentina is expected […]
Zinc prices hovered below $3,900 per tonne after pulling back sharply from an over four-year high, amid a broader, sentiment-driven selloff across the base-metals complex. The downturn was triggered by a report that the White House was hesitating over import tariffs on refined copper, prompting traders to unwind bullish positions and take profits. Increased bets […]
December arabica coffee (KCZ26) closed down -3.90 (-1.34%) on Thursday, and November ICE robusta coffee (RMX26) closed up +82 (+2.36%). Coffee prices are mixed today, with arabica falling to a 7-week low and robusta climbing to a 1.5-week high. Arabica coffee prices fell Thursday amid projections from the International Coffee Organization (ICO) for a record […]
December ICE NY cocoa (CCZ26) closed up +11 (+0.18%) on Thursday, and December ICE London cocoa #7 (CAZ26) closed up +29 (+0.67%). Cocoa prices settled higher for a second day on Thursday amid carryover support from Wednesday when Ghana’s cocoa industry regulator proposed raising cocoa farmers’ pay by +6% for the 2026/27 season. The proposed […]
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The European Central Bank is highly likely to raise interest rates by 25 bps today. What does this decision mean for the markets? A sharp rise in energy commodity prices in mid-July led to a hawkish repricing in the market (representing an increase in expectations of tighter monetary policy). Figure 1: Brent and WTI Crude […]