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Article / Monday at 7:10 GMTHedge funds increased bullish commodity bets by 4% during the week ending August 16. This first week of net-buying since the Brexit vote was primarily driven by short-covering in WTI crude oil and CBOT wheat while soybean oil also attracted strong buying interest.Read the article
Article / Monday at 2:43 GMT
Macro Monday: Boring Jackson's Hole, so wait for SeptemberThere's not likely to be anything positive from Janet Yellen's speech at Jackson Hole later this week - but nothing negative either. She's keeping her cards close to her chest - or just playing it safe. We'll see a lot more hawkish posturing from Fed post September 2Read the article
Article / 15 August 2016 at 10:17 GMT
Corn bouncing despite another record crop forecastThe WASDE report last Friday sprung a big surprise with corn and soybean harvests expected to be the biggest ever. But after hitting a 7-year low on the news, corn subsequently managed to recoup its losses to finish higher on the day.Read the article
Article / 15 August 2016 at 8:58 GMT
COT: Selling of metals, natgas drive seventh weekly reductionHedge funds scaled back commodity exposure for a seventh week driven by a reversal of fortunes in the heavy metals segment and a selloff in natural gas.Read the article
Squawk / 13 August 2016 at 5:46 GMTWeekly Trading Forecasts on Major Pairs (August 15 - 19, 2016)
Dominant bias: Bullish
This pair consolidated on Monday and went further upwards on Tuesday. Price moved upwards 130 pips, testing the resistance line at 1.1200, to close above the support line at 1.1150. Bulls might push price further upwards this week; however, there is a possibility of a bearish movement on EURUSD, since EUR could become weak versus other majors, save GBP, which is currently weaker than EUR. The current bullish effort would end once price goes below the support line at 1.1050.
Dominant bias: Bearish
There is a “sell” signal on USDCHF, especially in the near-term. There are support levels at 0.9700 and 0.9650, which could be tested this week. Nonetheless, the expected bearish movement on EURUSD might enable USDCHF to stop moving south, and assume a rally that would bring about a Bullish Confirmation Pattern in the market.
Article / 12 August 2016 at 12:34 GMT
WCU: Saudis lifting oil while gold remains rangeboundA strong first half of 2016 has been replaced by a tougher environment for commodities. But though Saudi Arabia's energy minister talked the price of oil higher, and white metals still look impressive post-Brexit, the week ended unchanged for commodities in general.Read the article
Article / 12 August 2016 at 12:30 GMT
Grain traders await the biggest report of the summerThe WASDE report this evening could set off fireworks if it strays far from the consensus expectation.Read the article
Video / 11 August 2016 at 13:51 GMT
WASDE is the biggest report of the summer: HansenOle HansenThe World Agricultural Supply and Demand Estimates Report is the most anticipated thing to happen this summer, according to Saxo Bank head of commodity strategy Ole Hansen. It is the first time that the WASDE report will include a survey for expected yields.
The markets has shown unusual volatility this week and this may indicate consensus among traders, says Hansen.
He believes that markets may see *fireworks' if the WASDE report differs from the estimates.
Article / 11 August 2016 at 8:45 GMT
From the Floor: Oil bulls halt, NZD soars then stumblesAt their regular morning conference call, Saxo Bank's strategy team dissects development's including a surprise rise in US oil inventories, a somewhat unsettling lower-than-expected New Zealand interest rate cut, and the state of the corn and wheat markets ahead of a key assessment on Friday.Read the article
Article / 08 August 2016 at 8:20 GMT
COT: Oil long hits January low as selling acceleratesHedge funds scaled back bullish commodity bets for a sixth consecutive week last week. The 6% reduction saw the net-long of 20 US traded commodities drop to 924,000 lots after hitting 1.53 million on June 21. Biggest changes was seen in WTI crude oil with the gross-short hitting a record.Read the article