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Views on Commodities
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  • Editor’s Picks / 1 hour ago

    CME trading outage showed that man can still match the machine

    Reuters
    Just over a week ago, CME Group Inc suffered the worst-ever trading outage on the world's most important agricultural markets, plunging electronic screens into darkness and sending dozens of traders scrambling for Chicago's famous but now often deserted trading "pits".
    It seemed like an impossible task: replace the seamless efficiency of an electronic trading screen with hand signals and guttural shouts to execute clients' orders to trade corn, wheat or cattle during the "close", often the busiest time of the day.
    But a Reuters analysis of CME trading data on the day of the outage, April 8, showed they largely succeeded in replacing the machines in at least some markets despite the difficulties of suddenly using floor trading skills that have mostly died out.
    Read article on Reuters Go to post
  • Squawk / 3 hours ago
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Traders are worried about being caught short in the crude oil market at the moment. This continue to support both WTI and Brent with the North Sea variety now trading back up to 110 USD/barrel for the first time in six weeks. Rising supply from Libya and the slowing demand from China are not front page news at the moment while the Ukraine crisis continue. In the US crude inventories are expected to rise again but falling gasoline inventories due to strong demand and specifics related to Cushing continue to support WTI Crude. https://www.tradingfloor.com/posts/us-eia-weekly-petroleum-status-report-2356230
    Read the Squawk
    3h
    buttar buttar
    Hello Hansen,
    We can sell the crude at recent market level????
  • Squawk / 6 hours ago
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Gold has been on the defensive during Asian trading following a very ugly day yesterday. The news that Ukrainian forces had launched special operations and Putin's warning about a civil war only helped to stabilize the price and not attract new buying. For now the market is back in neutral after the positive sentiment built up over the past week was wiped out in a matter of minutes. The change in sentiment has been driven by improved US economic data this week but also a report from the World Gold Council yesterday did some damage as it estimated that China may have 1,000 tons of gold tied up in trade financing deals. This puts into doubt the future demand from China should the government intensify its attempt to crackdown on using commodities to raise finance. Resistance is today's pivot at 1304.6 followed by 1313. Support at 1293 and 1282
    Read the Squawk
  • Squawk / 7 hours ago
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    Technical Analyst / FuturesTechs
    United Kingdom
    Yesterday's price action proved that 1300 is NOT a level to watch in Gold. Far more important technical levels are 1285 and 1305, then 1314 above that, where I'd be looking to short a rally today.
    Read the Squawk
    7h
    Waheed786 Waheed786
    Thank you.Do you think it will pop up first Clive to R 1314?
    6h
    Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
    After yesterday's choppy price action, and as things are thinning out for Easter, I would not be rushing into a trade, so think the prudent thing to...
    6h
    Waheed786 Waheed786
    Good advice Clive.Thank You.
  • Editor’s Picks / 7 hours ago

    China's gold fever to cool in 2014

    CNBC
    After last year's massive bullion buying spree, China's gold fever is set to cool in 2014 as consumers grapple with a slowing economy, said World Gold Council (WGC).
    "The sudden price drop in 2013 meant some Chinese consumers brought forward jewellery and bar purchases, which may limit growth in demand in 2014," the industry body representing gold miners wrote in a new report on Tuesday.
    Read article on CNBC Go to post
  • Squawk / 9 hours ago
    commoditymarket2008 commoditymarket2008
    Technical Analsyt / commoditymarket2008 Advisory Services
    India
    SPOT GOLD HAS SUPPORT 1292, HOLD BELOW THEN 1286-1278 POSSIBLE & HAS RESISTANCE 1306, HOLD ABOVE THEN 1313-1323 POSSIBLE
    Read the Squawk
    5h
    nb86 nb86
    Hello commoditymarket - what do you see for XAU in the next week? Revisiting the lows of March? Cheers
  • Squawk / Yesterday at 14:26 GMT
    Ole Hansen Ole Hansen
    Head of Commodity Strategy / Saxo Bank
    Denmark
    Precious metals led by silver are having their own mini "Black Monday" on the anniversary of golds biggest two day sell-off in three decades last April. The whole sector including palladium has succumbed to selling after reaching the highest level since August 2011 yesterday.
    The sell-off today in gold was driven by a technical break below trend-line support at 1314 and the stronger than expected CPI did the rest by pushing it through 1300 support. Any renewed escalation in East Ukraine could now receive some fresh buying as many newly established longs has been washed out.
    Both crude oils are lower ahead of tomorrows US inventory report which is expected to show a rise in domestic inventories to the highest level since last November.
    Arabica Coffee is having another volatile day but remain above 2 USD/lb in New York.
    Copper has slumped back below 3 USD/lb and Nickel has dropped the most in nine months as worries about a Chinese slowdown outweighed supply concerns
    Read the Squawk
    3h
    fxtime fxtime
    Ole do you think the Indonesian ban on nickel ore export will have a lasting impact? As for Cu the tree month delivery is still well below...
    3h
    fxtime fxtime
    LOL...typo error...tree month = three month