34+ min ago   (732+ words) Sterling has benefited from a better UK growth backdrop and a Bank of England that remains worried about inflation. The BoE held Bank Rate at 3.75% in July in a 6–3 vote, while Chief Economist Huw Pill has since argued that stronger…...

4+ day, 13+ hour ago   (555+ words) Head of Commodity Strategy The first important catalyst was the late-July FOMC meeting. The outcome was dovish relative to what had become increasingly hawkish market expectations rather than dovish in an absolute sense. Some of that impact has since faded,…...

2+ week, 1+ day ago   (600+ words) Summary: The US dollar was on its back foot already before signs of official intervention in the yen punched USDJPY and other yen crosses sharply lower ahead of the Bank of Japan meeting. How far can this US dollar move…...

3+ week, 1+ day ago   (357+ words) For the yen to reverse sustainably, firmer CPI must translate into a more hawkish BOJ path—or US yields and oil need to fall. Otherwise, intervention may deliver a sharp correction without changing the broader trend. If US yields and…...

4+ week, 1+ day ago   (409+ words) Head of Commodity Strategy Natural gas remains the major exception, on a total return basis falling almost 20% year to date and more than 41% during the past year. Ample domestic supply, storage levels above the seasonal norm and periods of reduced…...

1+ mon, 12+ hour ago   (273+ words) To provide you with a good experience we sometimes place small files known as cookies on your computer. A cookie is a text file made up of letters and numbers that allows us to distinguish your browser/device from another…...

1+ mon, 5+ day ago   (982+ words) Head of Commodity Strategy The commodity sector is showing signs of stabilising following a sharp correction that saw the Bloomberg Commodity Index fall around 15% between May and June. So far this month, the index has gained a moderate 2.8%, with all…...

1+ mon, 1+ week ago   (648+ words) To provide you with a good experience we sometimes place small files known as cookies on your computer. A cookie is a text file made up of letters and numbers that allows us to distinguish your browser/device from another…...

1+ mon, 1+ week ago   (764+ words) Head of Commodity Strategy The combination reduced one of the strongest headwinds facing commodities in recent months: the prospect of higher funding costs amid an energy-driven inflation shock. The one-year US inflation swap, a real-time gauge of expected inflation one…...

1+ mon, 1+ week ago   (604+ words) Head of Commodity Strategy The rally follows several months of heavy liquidation as improving production expectations and easing geopolitical concerns encouraged investors to reduce exposure. However, a combination of adverse weather, renewed supply concerns and fresh speculative buying has rapidly…...