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INGโs commodities team notes Copper has surged to fresh records on the LME, with threeโmonth futures nearing $14,800/t, as traders position for potential US tariffs on refined Copper imports. They argue policy expectations have tightened availability outside the US and squeezed shorts, warning that prices could correct sharply if proposed tariffs are delayed, softened or […]
Aluminum futures in the UK were at $3,330 per tonne, their highest level in four weeks, supported by persistent supply tightness and shrinking inventories. The ongoing US-Iran conflict has crimped aluminum flows from the Middle East, with GCC output falling 44% year-on-year in July. LME inventories remained near a 36-year low, while SHFE inventories fell […]
Facts: Recommendation: COFFEE (D1) Source: xStation5 OPINION: After the breakout from a double top pattern, the price is highly likely to be entering a new market regime, with the current target direction defined by a parallel descending channel. The downward move is strongly supported by the so-called โDeath Crossโ (EMA100 and EMA200). Based on the […]
Wednesdayโs macroeconomic calendar is relatively light and does not include any releases that are likely to independently set the direction for global markets. We already received the latest data from China overnight, where CPI inflation accelerated to 0.8% YoY in August, while PPI rose by 3.8% YoY . Later in the day, attention may turn […]
Nomura strategists expect the European Central Bank (ECB) to raise rates this week, taking the depo rate to 2.50%, and to keep it there for the foreseeable future. They see another hike after a 2025 cut back to neutral to counter Iran war-related inflation risks, and do not foresee ECB rate cuts in coming years. ECB seen […]
Crude prices maintain their bullish tone on Wednesday, as the situation in the Middle East risks escalating into an all-out regional war. The US Benchmark West Texas Intermediate (WTI) has retraced previous losses to hit fresh three-month highs at $92.70, with the early-June highs of $94.87 in sight. The war in Iran escalated to a […]
Commerzbankโs Tatha Ghose expects Polandโs NBP to leave rates unchanged at 3.75% and sees the key question as whether the MPC formally drops earlier dovish language. With fuel-driven inflation pressures and a weaker Zloty, he argues that Glapinskiโs prior hints at imminent cuts are obsolete and that rate reductions are unlikely before year-end, which could modestly support […]
Deutsche Bank strategists note a broad-based decline in US equities, with the S&P 500 down 0.58% and more than 70% of its constituents lower. Technology stocks proved relatively resilient as chipmakers recovered, while European markets were largely subdued and Asianย equitiesย struggled for traction outside South Korea. US equity futures point to a modestly firmer start. Broad […]
Danske Bank notes European equities were broadly flat on Monday, with the Stoxx 600 unchanged and OMX Nordic slightly higher, while Asian markets rallied in thin trading as US markets were closed for Labor Day. The bank highlights strong performance in technology, particularly semi-conductors and AI-linked hardware, while rising bond yields weighed on real estate […]
ING analysts Warren Patterson and Ewa Manthey say Oil prices are grinding higher, with ICE Brent close to $100/bbl as Middle East tensions escalate and OPEC output falls. They highlight US strikes on Iranian tankers, Iranian missile responses, and disruptions to Saudi supply, arguing that the market will likely keep a sizeable risk premium while […]
