Last week on Business Monitor Online I suggested that commodities looked poised for further gains as the US dollar weakened slightly and equity markets pushed higher. Two charts in particular point to additional upside for commodities. The first is the Baltic Dry Index, which has pushed above resistance in recent trading. Indeed, the Index seems [Read more...]

Sugar prices have steadily weakened since they peaked at USc30.40/lb in early February, and are currently trading at USc24.60/lb. I think the technical picture is deteriorating, and this combined with expectations of a loosening market in 2011 suggests that the rally I initially highlighted in August 2009, may be coming to an end.

The monthly, weekly [Read more...]

The short-term bounce in commodity prices has continued this week in line with firmer global equity markets and a slightly weaker US dollar. Greenback weakness has notably benefited precious metal prices, which are particularly sensitive to US dollar strength. My colleagues here at BMI see further upside potential for gold prices in the short term, [Read more...]

Precious metals have been hit particularly hard in recent trading and I see potential for further downside in the coming days, as I suggested recently. Weaker equity markets, a rise in risk aversion and a concomitant rise in the US dollar have weighed on commodities. Currently, daily momentum indicators are firmly into oversold territory and [Read more...]

Risk Watchdog has been observing the recent correction in commodity prices with interest. A wave of risk aversion has seen commodities dragged down by weaker equities and a stronger US dollar. Of key concern is the CRB index, which has broken below multi-month support.

The CRB index has suffered several short-term corrections in recent months, only [Read more...]

Risk watchdog had been bullish towards the agricultural complex for some time, but last week’s barrage of data from the US Department of Agriculture (USDA) has proved a bit of a game changer. Specifically, while still optimistic on the outlook for soft commodities such as coffee, cocoa and sugar, me and my colleagues here at [Read more...]

In line with the view I have been promoting on Business Monitor Online, spot gold has continued to push higher in recent trading to hit a new high of US$1,095/oz at one point on Wednesday. I see potential for gold to head even higher in the short term as US dollar weakness, weaker equities, and [Read more...]