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Quarterly Metals Report – Q3 2022
Our analysts provide an in-depth analysis of the metals market and current macroeconomic conditions. The environment has weakened significantly as growth fears rise amid persistent high inflation. Central banks are data-dependent, which could mean they slow rate hikes as growth starts to slow. This has meant a downside to the US 10yr yield, but also we see a downside to rate hikes in Q4. Europe will likely enter a recession before the US and take longer to recover, but material availability is significantly lower, shown by low inventories.

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Weekly Report FX Options
Our FX Options Report contains commentary and analysis covering OTC currency option pricing, volatility and positioning.

11.08.22

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FX Monthly Report June 2022
Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. This month we look into the JPY and the pressure the BOJ is under to change their monetary policy as JPY continues to weaken against major currencies. Economic data is weakening and inflation is less of a problem in Japan, but yields continue to test the cap.

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Daily Base Metals Report

Non-independent Research Daily Base Metals Report

Non-independent Research

Daily Base Metals Report

Wed 06 May 2020 18:00

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Authors

Geordie Wilkes

Geordie Wilkes Head of Research

Contact research Contact Industrial Commodities

Equity markets were uneasy today as leading indices oscillated between negative and positive territory. The dollar gained ground as treasuries yields also improved. The U.S. 10yr increased to 0.7413%, close to 3 weeks high. We continued to see pressure on the euro following yesterday’s court decision in Germany. European data was weak today, as April’s preliminary Markit services & composite PMIs were 12 and 13.6 respectively. Retail sales for March were -9.2% y/y.

Sentiment on the LME was mixed, nickel and zinc prices were well supported. Nickel prices broke key resistance at $12,300/t and closed at $12,303/t. Zinc broke through resistance at $1,950/t and closed at $1,975/t. The cash to 3-month spread tightened into $1/t back. Copper prices were also firmer today closing at $5,198/t. Ali was marginally weaker, closing at $1,479.50/t.

Spot gold sold off today, breaking through support at $1,700/oz and currently trade at $1,686/oz. Oil prices failed into key resistance today with WTI and Brent trading at $23.62/bl and $29.30/bl respectively.

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Quarterly Metals Report – Q3 2022

Our analysts provide an in-depth analysis of the metals market and current macroeconomic conditions. The environment has weakened significantly as growth fears rise amid persistent high inflation. Central banks are data-dependent, which could mean they slow rate hikes as growth starts to slow. This has meant a downside to the US 10yr yield, but also we see a downside to rate hikes in Q4. Europe will likely enter a recession before the US and take longer to recover, but material availability is significantly lower, shown by low inventories.

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Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. This month we look into the JPY and the pressure the BOJ is under to change their monetary policy as JPY continues to weaken against major currencies. Economic data is weakening and inflation is less of a problem in Japan, but yields continue to test the cap.