eu usa tradewar

While the key focus so far this year has been on the on-going trade disputes between the US and China, focus is now shifting back toward Europe where the outlook is darkening. Not only is Europe currently facing more political turmoil due to the on going Italian elections debacle, the EU now finds itself on the brink of a trade war with the US, ...

2018-05-31 James Harte Read more
USD Rally Continues As Q2 Outlook Picks Up

As we’ve seen across most of the developed countries, US Q1 economic releases highlighted some weakness in performance. A combination of an aggressive protectionist skew in president Trump’s policies along with volatility in financial markets, weighed on USD over the first three trading months of the year. However the USD rally continues as Q2 o...

2018-05-11 James Harte Read more
FOMC Minutes Highlight Concerns Around Trade Wars

While the Fed has confirmed its commitment to normalising monetary policy, the US Dollar traded lower in response to the release of the latest FOMC meeting minutes which revealed concerns among the rate setting committee. Members of the Federal Reserve Board highlighted their concerns about the potential impact of a global trade war, specificall...

2018-04-16 James Harte Read more

Copper: Chinese Imports Fuel Fresh Rally Copper prices surged to fresh highs again this week, marking their highest levels in nearly four years as a combination of factors propelled the red metal higher. Firstly, reports of a boom in Chinese imports fuelled a positive reaction. Chinese imports of copper rose 8.3% in July, showing a year over ye...

2017-08-11 James Harte Read more
Iron Ore_Commodities_2104

Copper: Fund Managers Slash Long Positions Copper prices fell lower again this week as continued risk aversion, in response to rising geopolitical tensions, continues to weigh on commodity prices.  Reflecting the shift in sentiment, the latest COT data shows that fund managers have slashed their long positions in the metal from 101k contracts a...

2017-07-26 James Harte Read more
Aluminium longs_0704

Copper: Industry Executives Expecting Higher Prices Copper prices rose this week despite boosted by weakness in the US Dollar in response to a weaker-than-expected ISM non-manufacturing print. In a note released this week, BMI Research suggested that the recent 43-day strike at the Escondida mine had less of an effect on the nation’s copper out...

2017-07-26 James Harte Read more
Metals surge_FOMC_1703

Copper: Supply Disruptions Worsen Copper prices surged higher this week fuelled by yet further supply disruptions. The continuing strikes at BHP Billiton’s Escondida in Chile and Freeport’s Grasberg mine in Indonesia are weighing heavily on global supply levels with industry experts noting that this is the first time in 15 years that copper con...

2017-03-17 James Harte Read more
Commodities_metals_rate hike_1003

Copper: Rising US Rate Hike Expectations Weigh On Copper Copper prices were weighed down this week by an uptick in Fed rate hike expectations. Following a raft of Hawkish commentary by various Fed members last week, who all agree that a hike would be appropriate soon, market pricing of a March rate hike jumped from around 30% to over 80%. Hawki...

2017-07-26 James Harte Read more
Aluminium soars

Copper Prices: Better China Data Supports, Stronger USD Weighs Copper prices were initially stronger on the week benefiting from better Chinese data. The China Manufacturing PMI for February came in at 51.6 vs. 51.2 expected while the Caixin PMI was also stronger at 51.7 vs. 50.8 expected. Data from China has been increasingly positive over rec...

2017-07-26 James Harte Read more
Aluminium_Stronger US Dollar_2402

Copper:  Stronger USD Weighs on Copper After showing initial strength on the week, Copper prices retreated and turned lower as the release of the FOMC minutes gave further bullish signals. The minutes showed that many participants feel it will be appropriate to raise rates “fairly soon.” While the minutes fell short of indicating a March hike, ...

2017-07-26 James Harte Read more