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Gold, silver, copper: A dovish Fed hold be just the ticket for bulls
Bond traders are stepping back into the market on bets that the Fed will deliver a dovish hold today, which weighed on the US dollar and supported gold, silver and copper ahead of today’s FOMC meeting.
Stabilisation in commodity, US stock futures bode well for AUD/USD longs
AUD/USD has equaled its longest losing streak since August 2019, hammered by deteriorating sentiment towards the outlook for the Chinese economy and investor risk appetite, especially towards big tech. But with signs of stablisation in commodity and US stock futures, the grounds for a squeeze higher are growing.
AUD/USD and copper slump for a 6th day, ASX 200 regains balance
AUD/USD tracked copper prices lower for a sixth day, during its worst day in six weeks. Whilst both markets shows the potential for further losses, these may not be the ideal levels for bears to enter.
AUD/USD, copper dragged lower with sentiment, higher US dollar
It has been a turbulent 24 hours for markets with Wall Street indices extending losses, dragging AUD/USD and copper prices lower.
Gold, silver, copper could break to new highs if Powell, CPI allow
Key risk events this week include Jerome Powell’s testimony to the Senate Banking Committee on Tuesday and a CPI report. Should Powell strike a dovish tone and CPI data come in soft, gold, silver and copper could be poised to rally.
US dollar index breaks higher, triggering reversal warnings for gold and copper
Gold and copper were looking good until late Friday, bouncing strongly on Thursday following recent weakness, the former talking out key levels in the process. Then along came the latest US Composite PMI report from S&P Global.
Hang Seng, copper rout reverses course, turning point in the making?
Hang Seng's strong correlation with COMEX copper and SGX iron ore futures over the past month suggests many traders are using it as a mechanism to speculate on the outlook for Chinese industrial activity, especially the housing market.
Iron ore, copper crumble as China’s property downturn worsens
Given significant uncertainty towards the demand outlook, it may be preferable to let the price action tell us what to do rather than pre-empt on fundamental grounds.
Gold, copper, silver forecast: Metals drop on NFP, China concerns
Concerns over China and a hot labour market report in the US caused metals to fall sharply. However, the long-term gold forecast remains positive despite the recent struggles, even if prices were to weaken further in the short-term outlook.
Crude oil, copper: Bullish China data offers relief for battered commodities
China’s services sector strengthened in May, boosting Chinese equity markets and providing some respite for commodities such as copper and WTI crude oil.
Gold, silver, copper: Tracking the damage from the late May metals rout
It’s been a wild ride for commodities in May with many names who started the month in beast mode ending it with a whimper. Some have broken down technically while others are threatening to do so. Ahead of inflation data from the United States, Eurozone and Japan on Friday, we look at messaging from the charts for gold, silver and copper.
The mild rebound for gold and copper wreaks of a dead-cat bounce
Gold and copper have made mild attempt to recoup last week's losses, which puts us on alert for a potential 'dead cat bounce'. Whilst silver’s rebound has been much more impressive, resistance looms.
Crude oil, copper bounce as commodity rally resumes before US inflation report
The rout in commodity prices didn’t last long, as expected, with dip buyers emerging late last week to take advantage of better entry levels. Crude and copper look particularly constructive following the recent bounce.
Gold, silver, copper hit by higher rates, stretched positioning, bias remains to buy dips
Metals markets finally succumbed to the higher rates, stronger US dollar environment on Wednesday, with vulnerabilities evident earlier in the week finally materialising. But the underlying factors behind the rally have not gone away, making us inclined to continue buying dips.
USD, CAD, Gold, Copper, VIX, Wall Street analysis: COT report
Asset managers reached a record level of net-short exposure to VIX futures, days before prices fell to a record low. Traders also remain net-long USD despite losses in recent weeks.
Be cautious chasing COMEX copper higher with big bears lurking above $5
The upside in copper flagged last week has played out nicely, delivering a fresh contract high for the red metal on COMEX futures. However, the price action over the latter parts of this week has not been convincing, warning of growing near-term downside risk.
Gold, silver and copper eyeing upside, US inflation report key to US dollar impact
The stronger US dollar has acted as a handbrake on commodity prices, limiting what may have been otherwise a spectacular rebound to start 2024. Imagine what may happen if the dollar were to break down?
Hold your horses before buying copper’s bullish break
Those considering buying the break may want to look at copper’s lousy track record when it’s been this overbought on the four hourly chart in the past.
Gold, silver and copper analysis: Metals rally on China optimism and weaker dollar
Gold, silver and copper all rally as US dollar drops despite hot inflation, with base metals finding additional boost from optimism about Chinese demand. Silver analysis suggests the grey metal could be in for more gains, while gold analysis point to a new record high.
US dollar bears remain undeterred: COT report
Traders were their most bearish on the US dollar against all currencies in four months, despite the Fed's attempt to push back on multipole rate cuts this year.
AUD/USD Forecast: Why Copper’s Weakness Could Drag Aussie Down
AUD/USD could be vulnerable to more selling pressure amidst soft inflation data and ongoing weakness in Copper prices
S&P 500 analysis, Copper and EUR/USD outlook - Technical Tuesday
Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this edition of Technical Tuesday, we will analyse the S&P 500, copper and EUR/USD.
Copper, USD/CNH and AUD/USD outlook boost by China stimulus – Technical Tuesday
Ahead of key central bank decisions, markets associated with China doing relatively well following news that top leaders in China indicated more support for the real estate sector. We have seen a big move in copper and other metal prices, with crude oil, yuan and Aussie all also pushing higher. So, in this edition of Technical Tuesday we will provide analysis on the AUD/USD outlook, as well as the USD/CNH and copper.