Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Fri, 23 Jan 2015 00:44:16 +0000 http://wordpress.org/?v=2.5.1 en All of the major commodities may fall in price this year, World Bank says http://www.opalesque.com/Commodities_Briefing/?p=134703 http://www.opalesque.com/Commodities_Briefing/?p=134703#comments Fri, 23 Jan 2015 00:44:16 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134703 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134703>Article Link</a> This year could mark the rare occurrence when all of the nine major commodity price indexes decline, according to a World Bank forecast released Thursday. The latest report on commodities comes at a time when oil prices have seen a 55% drop over the past seven months, only topped by the 75% drop during the Great Recession, and the 67% drop from November 1985 to March 1986. (more…)

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Best and worst commodities in 2014 http://www.opalesque.com/Commodities_Briefing/?p=134702 http://www.opalesque.com/Commodities_Briefing/?p=134702#comments Fri, 23 Jan 2015 00:43:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134702 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134702>Article Link</a> Commodities are hugely cyclical as is all too evident at the moment, with oil and metal prices in steep decline. A look at what did well in 2014 and what didn’t reveals how fortunes change and unearths a number of surprises. Website Visual Capitalist has run an infographic illustrating the annual returns for all commodities last year - the Periodic Table of Commodity Returns - with accompanying comment. (more…)

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Oil price could spike to US$200 a barrel http://www.opalesque.com/Commodities_Briefing/?p=134701 http://www.opalesque.com/Commodities_Briefing/?p=134701#comments Fri, 23 Jan 2015 00:43:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134701 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134701>Article Link</a> Rampant speculation by hedge funds and a rare confluence of short-term shocks have driven the price of oil far below its natural clearing level, coiling the springs for a fresh spike this year that may catch markets badly off guard once again. “The price will rebound and we will go back to normal very soon,” said Abdullah Al-Badri, Opec’s secretary-general. “Yes, there is an oversupply, but fundamentals don’t justify this 50% fall in price.” (more…)

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This is the price point to beware for falling oil http://www.opalesque.com/Commodities_Briefing/?p=134700 http://www.opalesque.com/Commodities_Briefing/?p=134700#comments Fri, 23 Jan 2015 00:43:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134700 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134700>Article Link</a> Many investors believe that declining oil prices are a good thing—for now—though some see $30 a barrel as the break point when the trend turns negative. Earnings season has provided a good glimpse at how energy is impacting corporate America. Outside the sector, this is turning into a pretty good quarter. Include energy, though, and things are fairly gloomy. (more…)

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OPEC’s Badri says oil won’t fall to $20: Bloomberg http://www.opalesque.com/Commodities_Briefing/?p=134699 http://www.opalesque.com/Commodities_Briefing/?p=134699#comments Fri, 23 Jan 2015 00:43:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134699 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134699>Article Link</a> Oil prices will not fall to $20 or $25 a barrel, OPEC Secretary-General Abdullah al-Badri said in an interview with Bloomberg. “The price will not go to $20 or $25, I think the price will stay at where we are now,” Badri said, Bloomberg reported. (more…)

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OPEC Will Blink in Battle With U.S. Shale Drillers, Poll Shows http://www.opalesque.com/Commodities_Briefing/?p=134698 http://www.opalesque.com/Commodities_Briefing/?p=134698#comments Fri, 23 Jan 2015 00:42:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134698 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134698>Article Link</a> U.S. shale drillers won’t scale back output quickly enough for OPEC to avoid production cuts this year, according to a quarterly poll of Bloomberg subscribers. (more…)

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Gold Prices Get a Boost While Oil Spirals Downwards http://www.opalesque.com/Commodities_Briefing/?p=134697 http://www.opalesque.com/Commodities_Briefing/?p=134697#comments Fri, 23 Jan 2015 00:41:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134697 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134697>Article Link</a> Gold’s relationship to oil has been turned on its head. Investors who saw little value in the metal last month, as plunging energy costs curbed inflation, have started buying in January even as crude continues to tumble. Bullion is off to its best start to a year since 1980 while West Texas Intermediate is trading near the lowest since April 2009. (more…)

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Is this the start of a gold bull market? http://www.opalesque.com/Commodities_Briefing/?p=134696 http://www.opalesque.com/Commodities_Briefing/?p=134696#comments Fri, 23 Jan 2015 00:40:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134696 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134696>Article Link</a> Many strategists are saying a gold bull market has just begun, as investors crowd into the one asset that isn’t getting debased by central banks. Chart analyst point to the price breaking out of long-term resistance levels. (more…)

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Gold reclaims $1,300 level as ECB rolls out QE http://www.opalesque.com/Commodities_Briefing/?p=134695 http://www.opalesque.com/Commodities_Briefing/?p=134695#comments Fri, 23 Jan 2015 00:40:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134695 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134695>Article Link</a> Gold prices strengthened Thursday to reclaim the key $1,300 mark after the European Central Bank announced a full-blown stimulus plan. Gold for February delivery rose $7, or 0.5%, to settle at $1,300.70 an ounce while March silver futures SIH5, -0.03% advanced 17 cents to $18.36 an ounce in electronic trading. (more…)

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Gold and Silver Buyers Take a Shine to Precious Metals Again http://www.opalesque.com/Commodities_Briefing/?p=134694 http://www.opalesque.com/Commodities_Briefing/?p=134694#comments Fri, 23 Jan 2015 00:40:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134694 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134694>Article Link</a> Gold and silver are getting another turn in the spotlight, luring investors worried about slowing global growth and surprises by central banks. On Thursday, the European Central Bank offered the latest reason to pile into precious metals by unleashing a bigger-than-expected bond-buying program amid continued worries about Europe’s economy. (more…)

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Speculators Looking for Havens from Slowing Growth are Piling Into Silver http://www.opalesque.com/Commodities_Briefing/?p=134693 http://www.opalesque.com/Commodities_Briefing/?p=134693#comments Fri, 23 Jan 2015 00:40:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134693 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134693>Article Link</a> Silver headed for a bull market in its best start to a year in more than three decades as the European Central Bank expanded economic stimulus measures, boosting demand for the metal as a store of value. (more…)

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Global aluminum production; the sound of one hand clapping: Andy Home http://www.opalesque.com/Commodities_Briefing/?p=134692 http://www.opalesque.com/Commodities_Briefing/?p=134692#comments Fri, 23 Jan 2015 00:39:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134692 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134692>Article Link</a> What is the sound of one hand clapping? It’s supposed to be a question without an answer, a test posed by the master to the disciple in the Zen journey toward enlightenment. (more…)

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Palladium ETF to Shine this Year http://www.opalesque.com/Commodities_Briefing/?p=134691 http://www.opalesque.com/Commodities_Briefing/?p=134691#comments Fri, 23 Jan 2015 00:39:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134691 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134691>Article Link</a> ETF Trends reported that low prices of gasoline and cheap bank loans may attract more automobile buyers and hence, result in the palladium-related exchange traded funds to shine this year. As quoted in the market news: Fueling the increased palladium demand, global car sales increased 3.4% in 2014 to a record 81.6 million vehicles. (more…)

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How To Short Oil With ETFs http://www.opalesque.com/Commodities_Briefing/?p=134690 http://www.opalesque.com/Commodities_Briefing/?p=134690#comments Fri, 23 Jan 2015 00:39:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134690 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134690>Article Link</a> A respite to the oil price havoc has been wiped out with some forecasting a further drop in the days ahead. The commodity has been on a wild ride over the past six months, plunging about 60%. In fact, oil saw the biggest weekly decline last week since March 1986. (more…)

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Angola to have commodities exchange http://www.opalesque.com/Commodities_Briefing/?p=134689 http://www.opalesque.com/Commodities_Briefing/?p=134689#comments Fri, 23 Jan 2015 00:39:03 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134689 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134689>Article Link</a> The Capital Market Commission (CMC) of Angola will this year prepare a study with the aim of opening a Commodity Exchange to trade agricultural and livestock commodities contracts, CMC director Vera Daves said in Luanda. (more…)

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Commodity currencies face race to the bottom? http://www.opalesque.com/Commodities_Briefing/?p=134688 http://www.opalesque.com/Commodities_Briefing/?p=134688#comments Fri, 23 Jan 2015 00:38:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134688 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134688>Article Link</a> Commodity currencies may face a race to the bottom as the Bank of Canada’s surprise rate cut sent the Canadian dollar to five-year lows and could pressure Australia’s central bank to follow suit. (more…)

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Why ECB action is likely to stoke global currency wars http://www.opalesque.com/Commodities_Briefing/?p=134687 http://www.opalesque.com/Commodities_Briefing/?p=134687#comments Fri, 23 Jan 2015 00:38:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134687 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134687>Article Link</a> Will quantitative easing by the European Central Bank succeed? Here’s a tip: watch the euro. Although Mario Draghi, president, denied it was a target, the weakening currency could prove the most effective channel through which QE reaches the real economy. (more…)

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Goldman’s Cohn: “We are in currency wars” http://www.opalesque.com/Commodities_Briefing/?p=134686 http://www.opalesque.com/Commodities_Briefing/?p=134686#comments Fri, 23 Jan 2015 00:38:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134686 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134686>Article Link</a> Countries around the world are already engaged in a currency war in a bid to boost growth, Gary Cohn, the president and chief operating officer of Goldman Sachs, said on Thursday. (more…)

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EU carbon market price expected to rise before 2020 following MEPs’ vote http://www.opalesque.com/Commodities_Briefing/?p=134685 http://www.opalesque.com/Commodities_Briefing/?p=134685#comments Fri, 23 Jan 2015 00:38:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134685 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134685>Article Link</a> The chances of a modest increase in carbon prices before 2020 rose on Thursday after votes by MEPs on one of the European Parliament’s most conservative committees. (more…)

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Political divisions hit EU carbon price http://www.opalesque.com/Commodities_Briefing/?p=134684 http://www.opalesque.com/Commodities_Briefing/?p=134684#comments Fri, 23 Jan 2015 00:37:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134684 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134684>Article Link</a> Carbon prices plunged almost 8 per cent on Thursday after a bumpy start to the EU’s attempt to fix its dysfunctional emissions market, with bitter divisions among parliamentarians creating uncertainty among traders. (more…)

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EU Carbon Plummets as Panel Rejects Market Fix Recommendation http://www.opalesque.com/Commodities_Briefing/?p=134683 http://www.opalesque.com/Commodities_Briefing/?p=134683#comments Fri, 23 Jan 2015 00:37:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134683 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134683>Article Link</a> European Union carbon allowances posted their biggest drop since April after a panel in the bloc’s parliament failed to agree on how to modify a measure curbing a glut of carbon permits. (more…)

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Declining Commodity Prices Ahead With Weak Global Economy http://www.opalesque.com/Commodities_Briefing/?p=134682 http://www.opalesque.com/Commodities_Briefing/?p=134682#comments Thu, 22 Jan 2015 00:03:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134682 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134682>Article Link</a> Oil may be holding above $40.00 per barrel, but investors shouldn’t get too comfortable. The chart foreshadows oil prices could falter and maybe even drop below $40.00. It’s true that speculation has influenced the direction of oil to some degree, but much of the negative sentiment has to do with a declining global economy that shows some despair. (more…)

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Commodities explained: The price-supply disconnect http://www.opalesque.com/Commodities_Briefing/?p=134681 http://www.opalesque.com/Commodities_Briefing/?p=134681#comments Thu, 22 Jan 2015 00:03:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134681 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134681>Article Link</a> The commodities cycle is all about supply and demand responding to prices. To put it very simply, as prices rise companies invest and supply increases. Prices then fall, which leads to production cuts, and eventually demand increases, pushing up the market and the cycle starts all over again. (more…)

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OPEC, oil companies clash at Davos over price collapse http://www.opalesque.com/Commodities_Briefing/?p=134680 http://www.opalesque.com/Commodities_Briefing/?p=134680#comments Thu, 22 Jan 2015 00:02:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134680 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134680>Article Link</a> OPEC defended on Wednesday its decision not to intervene to halt the oil price collapse, shrugging off warnings by top energy firms that the cartel’s policy could lead to a huge supply shortage as investments dry up. (more…)

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Oman Joins Other Oil Nations Saying OPEC Decision Wrong http://www.opalesque.com/Commodities_Briefing/?p=134679 http://www.opalesque.com/Commodities_Briefing/?p=134679#comments Thu, 22 Jan 2015 00:02:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134679 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134679>Article Link</a> Oman, the biggest Middle Eastern oil producer that’s not a member of OPEC, joined Venezuela and Iran in questioning the group’s decision to keep its output target unchanged even with crude prices falling. (more…)

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Oil prices will normalise soon: OPEC http://www.opalesque.com/Commodities_Briefing/?p=134678 http://www.opalesque.com/Commodities_Briefing/?p=134678#comments Thu, 22 Jan 2015 00:02:01 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134678 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134678>Article Link</a> The current slump in oil prices will be short-lived, OPEC’s secretary-general said, defending the oil-producing group’s November decision not to cut its production. “I tell you, the price will rebound and we will go back to normal very soon,” Abdalla Salem el-Badri said while speaking at the World Economic Forum in Davos, Switzerland. (more…)

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IEA economist sees upward pressure on oil prices by year-end http://www.opalesque.com/Commodities_Briefing/?p=134677 http://www.opalesque.com/Commodities_Briefing/?p=134677#comments Thu, 22 Jan 2015 00:01:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134677 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134677>Article Link</a> Oil prices will face upward pressure by the end of the year, the chief economist of the International Energy Agency (IEA) said on Wednesday, as a fall of more than 50 percent in the price of crude since last June is expected to eventually curtail some production. (more…)

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Oil price drop is ‘economic warfare against US enemies’ http://www.opalesque.com/Commodities_Briefing/?p=134676 http://www.opalesque.com/Commodities_Briefing/?p=134676#comments Thu, 22 Jan 2015 00:01:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134676 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134676>Article Link</a> The current oil price decline can be explained by heavy selling in US future markets which is part of an all-out economic war between the US and countries like Russia, Iran and Venezuela, says financial journalist, Willem Middelkoop. The current price can only partially be explained by technical factors like growing US oil production which increased by a million barrels per day in the last year. (more…)

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Gold fifth best performing commodity of 2014 http://www.opalesque.com/Commodities_Briefing/?p=134675 http://www.opalesque.com/Commodities_Briefing/?p=134675#comments Thu, 22 Jan 2015 00:01:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134675 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134675>Article Link</a> Before you gold bulls out there cry ‘rubbish’ it should be borne in mind that last year was a disastrous year for virtually all commodities across the board. Only four internationally traded commodities showed gains over the year, while gold was the least bad negative performer among the rest with a drop of only 1.7% – but has shot up nearly 10% since the start of the year. (more…)

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Gold above $1,300 for first time in 5 months http://www.opalesque.com/Commodities_Briefing/?p=134674 http://www.opalesque.com/Commodities_Briefing/?p=134674#comments Thu, 22 Jan 2015 00:00:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134674 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134674>Article Link</a> Gold prices have risen above $1,300 an ounce for the first time since August 2014. It’s because the global economic slowdown, expectation of ECB ‘easy money’, and currency volatility make investors turn to a safe haven, gold trader Mark O’Byrne told RT. (more…)

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Copper prices may rise to $10,000 a tonne by year-end: Simon Hunt http://www.opalesque.com/Commodities_Briefing/?p=134673 http://www.opalesque.com/Commodities_Briefing/?p=134673#comments Thu, 22 Jan 2015 00:00:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134673 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134673>Article Link</a> Copper prices in the global market are likely to witness an exponential rise and may even hit the USD 10,000 a tonne mark by the end of this year, according to an industry expert. However, after a brief boom the prices are expected to decline and may even plunge below the $2,000 a tonne level by 2017. (more…)

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Iron ore price extends slump http://www.opalesque.com/Commodities_Briefing/?p=134672 http://www.opalesque.com/Commodities_Briefing/?p=134672#comments Thu, 22 Jan 2015 00:00:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134672 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134672>Article Link</a> The price of iron ore is now dangerously close to a more than five-year low after the commodity was again sold off overnight. At the end of the latest offshore session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US66.50 a tonne, down 1.3 per cent from its previous close of $US67.40 a tonne and the lowest mark for 2015 to date. (more…)

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Precious Metal ETFs Breaking Downtrend http://www.opalesque.com/Commodities_Briefing/?p=134671 http://www.opalesque.com/Commodities_Briefing/?p=134671#comments Thu, 22 Jan 2015 00:00:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134671 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134671>Article Link</a> The rally in precious metals and related stocks continues to push higher as the SPDR Gold Trust hits a new five-month high. The initial rally was spurred by oversold technical levels, but the last few weeks the fuel has been moves by central banks around the globe. On Wednesday, Canada was the latest country to surprise the markets with an interest rate move. Next up is the European Central Bank. (more…)

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Materials ETFs Mauled by Falling Oil Prices http://www.opalesque.com/Commodities_Briefing/?p=134670 http://www.opalesque.com/Commodities_Briefing/?p=134670#comments Wed, 21 Jan 2015 23:59:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134670 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134670>Article Link</a> Oil’s slide has identified some winners at the sector level, namely consumer-related shares, but beyond the energy sector, there are some losers as well. Those losers include the materials sector, which was already scuffling heading into 2015. (more…)

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Is Dollar Next? Investors Reassess After Swiss Shock: Currencies http://www.opalesque.com/Commodities_Briefing/?p=134669 http://www.opalesque.com/Commodities_Briefing/?p=134669#comments Wed, 21 Jan 2015 23:59:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134669 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134669>Article Link</a> After Switzerland shocked markets by scrapping its currency cap, investors are beginning to ask whether a policy surprise may be lurking for the dollar, too. Samson Capital Advisors LLC said the Swiss move, which sent the franc surging as much as 41 percent against the euro last week, was “a good reminder” of the risks of following the herd, just as speculators pushed bets on a dollar rally to a new high. (more…)

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Egypt’s currency falls to historic low against dollar http://www.opalesque.com/Commodities_Briefing/?p=134668 http://www.opalesque.com/Commodities_Briefing/?p=134668#comments Wed, 21 Jan 2015 23:59:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134668 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134668>Article Link</a> Egypt’s currency has fallen to a historic low against the dollar after a central bank auction. The bank said it offered 40 million dollars on Wednesday, selling a total of $38.4 million at a cutoff rate of 7.34 Egyptian pounds per dollar. (more…)

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A Year of Opportunity to Combat Climate Change — and Transform Economies http://www.opalesque.com/Commodities_Briefing/?p=134667 http://www.opalesque.com/Commodities_Briefing/?p=134667#comments Wed, 21 Jan 2015 23:59:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134667 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134667>Article Link</a> Scientists declared this past year as the warmest year on Earth since record-keeping began in 1880, and a series of scientific reports found glaciers melting and extreme weather events intensifying. There can be no doubt that this year world leaders must commit to transforming their economies to combat climate change. (more…)

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Shanghai bans pre-2013 offset credits in carbon market http://www.opalesque.com/Commodities_Briefing/?p=134666 http://www.opalesque.com/Commodities_Briefing/?p=134666#comments Wed, 21 Jan 2015 23:58:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134666 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134666>Article Link</a> Companies participating in Shanghai’s carbon market can only use offset credits generated after Jan. 1, 2013 for compliance, the city government said Wednesday, ruling out the vast majority of offsets issued so far. (more…)

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Fate of EU carbon market hangs in the balance http://www.opalesque.com/Commodities_Briefing/?p=134665 http://www.opalesque.com/Commodities_Briefing/?p=134665#comments Wed, 21 Jan 2015 23:58:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134665 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134665>Article Link</a> The credibility of Europe’s climate policy faces a critical test on Thursday, when lawmakers vote on reforms to its carbon market. Members of the European Parliament’s industrial committee will debate how fast and far to go with measures to tackle an oversupply of pollution permits, which has chronically depressed the carbon price. At around €7/tonne, the price gives industry only a weak signal to invest in low carbon technology. (more…)

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Commodities, Currency Commotion Brings Volatility http://www.opalesque.com/Commodities_Briefing/?p=134664 http://www.opalesque.com/Commodities_Briefing/?p=134664#comments Wed, 21 Jan 2015 00:32:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134664 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134664>Article Link</a> Traders return from a long holiday weekend already riding a slippery slope of volatility greased by international events and uncertainty heading into the depths of earnings season. In fact, volatility is higher across many asset classes. (more…)

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China funds become new force in global commodity trade http://www.opalesque.com/Commodities_Briefing/?p=134663 http://www.opalesque.com/Commodities_Briefing/?p=134663#comments Wed, 21 Jan 2015 00:32:30 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134663 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134663>Article Link</a> China’s Shanghai Chaos investment fund is named after the pioneer of chaos theory Edward Norton Lorenz, who coined the term “butterfly effect” to describe seemingly random yet connected events. That may be an apt description for the global metals markets, where moves made by hedge funds in China are increasingly felt across the globe. (more…)

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IMF lowers growth outlook for commodity exporters http://www.opalesque.com/Commodities_Briefing/?p=134662 http://www.opalesque.com/Commodities_Briefing/?p=134662#comments Wed, 21 Jan 2015 00:32:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134662 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134662>Article Link</a> The International Monetary Fund (IMF) has lowered its 2015 growth forecasts for commodity exporters, including South Africa, saying the projected growth rebound for commodity-exporting developing countries will be weaker than had been forecast in the fund’s October World Economic Outlook (WEO). (more…)

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Average Oil Price per Barrel in 2015 is Expected at $56.7 — IMF http://www.opalesque.com/Commodities_Briefing/?p=134661 http://www.opalesque.com/Commodities_Briefing/?p=134661#comments Wed, 21 Jan 2015 00:30:58 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134661 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134661>Article Link</a> The IMF expects this year the average price of oil on world markets to hover around $56.73 per barrel, and in the future — $63.88, the agency reported on Tuesday at the World Economy prospects presentation in Beijing. The average price was determined by simple arithmetic — by taking the average prices of Brent, Dubai and West Texas oil. For the sake of comparison, the report mentioned that the average price of oil in 2014 was $96.3 per barrel. (more…)

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Oil slides as IMF cuts global growth forecast http://www.opalesque.com/Commodities_Briefing/?p=134660 http://www.opalesque.com/Commodities_Briefing/?p=134660#comments Wed, 21 Jan 2015 00:30:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134660 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134660>Article Link</a> World oil prices fell on Tuesday after the International Monetary Fund slashed its world economic growth forecast, stoking fresh fears over the strength of global crude demand. In late afternoon London deals, Brent North Sea crude for delivery in March dropped 55 cents to US$48.29 (S$64.60) a barrel. (more…)

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Is the Oil Price Collapse Temporary? http://www.opalesque.com/Commodities_Briefing/?p=134659 http://www.opalesque.com/Commodities_Briefing/?p=134659#comments Wed, 21 Jan 2015 00:30:16 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134659 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134659>Article Link</a> What can we expect from the oil price in next six months and beyond? And what impact does this have on the expectations for global growth. If the collapse of crude oil quotes was temporary, it would only add noise to the global economic landscape and, apart from fuelling volatility, would have no lasting consequences. (more…)

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Iran Sees ‘No Threat’ From Oil at $25 as Prices Keep Falling http://www.opalesque.com/Commodities_Briefing/?p=134658 http://www.opalesque.com/Commodities_Briefing/?p=134658#comments Wed, 21 Jan 2015 00:29:53 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134658 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134658>Article Link</a> OPEC has no immediate plan to cut its output target for crude, and Iran is strong enough to withstand a deeper slump in prices even if the country must sell at $25 a barrel, Oil Minister Bijan Namdar Zanganeh said. (more…)

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Low Oil Prices Force OPEC Members To Rethink 2015 Budgets http://www.opalesque.com/Commodities_Briefing/?p=134657 http://www.opalesque.com/Commodities_Briefing/?p=134657#comments Wed, 21 Jan 2015 00:29:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134657 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134657>Article Link</a> The persistent drop in oil prices is prompting more oil-rich OPEC countries to revise the projected revenues in their coming budgets. Already, Saudi Arabia, the world’s largest producer of oil and OPEC’s richest member, has acknowledged that the steep fall in oil prices since June will leave the Riyadh government with its first budget deficit since 2011 and the largest in its history. (more…)

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Gold Futures Approach $1,300 to Post Longest Rally in 11 Months http://www.opalesque.com/Commodities_Briefing/?p=134656 http://www.opalesque.com/Commodities_Briefing/?p=134656#comments Wed, 21 Jan 2015 00:29:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134656 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134656>Article Link</a> Gold futures approached $1,300 an ounce to post the longest rally in 11 months as signs of slowing global economies boosted demand for the metal as a haven. Assets in the SPDR Gold Trust, the biggest exchange-traded product backed by the metal, last week rose 3.3 percent, the most since May 2010. (more…)

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Will Suppressed Silver Prices Finally Soar? http://www.opalesque.com/Commodities_Briefing/?p=134655 http://www.opalesque.com/Commodities_Briefing/?p=134655#comments Wed, 21 Jan 2015 00:28:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134655 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134655>Article Link</a> Even with price capping by the largest eight silver shorts, silver can jump quickly to $20 or higher. Without such price capping, silver can jump by $10 to $20 in a hurry. A little more than four years ago, silver ran to almost $50 in a matter of months. The setup today is infinitely better. (more…)

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Palladium Is Rarer Than Gold and, Thanks to Cheap Oil, Now Rarer Still http://www.opalesque.com/Commodities_Briefing/?p=134654 http://www.opalesque.com/Commodities_Briefing/?p=134654#comments Wed, 21 Jan 2015 00:28:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134654 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134654>Article Link</a> America’s renewed love affair with the automobile is tightening global supplies of palladium, a metal rarer than gold. While each car requires only a few grams of palladium, demand in 2015 will probably exceed supply for a fourth consecutive year, according to Johnson Matthey Plc, a maker of catalytic converters for automobiles that use the metal to reduce harmful tailpipe emissions. (more…)

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ETF Securities Branches out From Commodities ETFs http://www.opalesque.com/Commodities_Briefing/?p=134653 http://www.opalesque.com/Commodities_Briefing/?p=134653#comments Wed, 21 Jan 2015 00:28:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134653 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134653>Article Link</a> ETF Securities, the London-based exchange traded funds issuer known primarily for its lineup of commodities funds, is making a foray into equity-based funds with the introduction of two new ETFs. The ETFS Zacks Earnings Large-Cap U.S. Index Fund (NYSEArca: ZLRG) and the ETFS Zacks Earnings Small-Cap U.S. Index Fund (NYSEArca: ZSML) launched Tuesday. (more…)

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5 Dividend ETFs to Buy for Income in 2015 http://www.opalesque.com/Commodities_Briefing/?p=134652 http://www.opalesque.com/Commodities_Briefing/?p=134652#comments Wed, 21 Jan 2015 00:28:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134652 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134652>Article Link</a> The volatile start to 2015 has once again highlighted the importance of income-focused investing. Be it bonds, high dividend equities, or pass-through securities, picks that zero in on higher yielding securities have done well to start this uncertain year. (more…)

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Euronext looks at sugar, biofuels, metals in commodities push http://www.opalesque.com/Commodities_Briefing/?p=134651 http://www.opalesque.com/Commodities_Briefing/?p=134651#comments Wed, 21 Jan 2015 00:27:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134651 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134651>Article Link</a> Euronext, the equity, bond and derivatives exchange, is looking at sugar, biofuels and metals as potential markets to develop as it tries to expand its presence in commodity derivatives, it said on Tuesday. (more…)

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BSE plans international exchange in Gujarat, commodity bourse http://www.opalesque.com/Commodities_Briefing/?p=134650 http://www.opalesque.com/Commodities_Briefing/?p=134650#comments Wed, 21 Jan 2015 00:27:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134650 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134650>Article Link</a> As the 140-year-old stock exchange BSE charts a new growth path, it plans to foray into commodity trading business and also set up an international exchange in Gujarat to cater to global companies and investors. (more…)

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Ghana commodity exchange will come alive this year http://www.opalesque.com/Commodities_Briefing/?p=134649 http://www.opalesque.com/Commodities_Briefing/?p=134649#comments Wed, 21 Jan 2015 00:27:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134649 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134649>Article Link</a> Work on the proposed Ghana Commodity Exchange, designed to provide ready market for grains and cereal producers, has resumed after two years idling on the shelf, the Deputy Minister of Trade and Industry, Mr Kweku Ricketts-Hagan, has assured. (more…)

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Commodity Currencies: What’s Behind The Big Moves? http://www.opalesque.com/Commodities_Briefing/?p=134648 http://www.opalesque.com/Commodities_Briefing/?p=134648#comments Wed, 21 Jan 2015 00:27:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134648 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134648>Article Link</a> It is a new trading week and currencies are on the move. The Canadian and New Zealand dollars saw the largest swings intraday with the yen pairs not far behind. USD/CAD rose to its strongest level in 5.5 years ahead of the Bank of Canada’s monetary policy announcement. (more…)

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Obama’s Currency Manipulation Dilemma: Pay Me Now Or Pay Me Later http://www.opalesque.com/Commodities_Briefing/?p=134647 http://www.opalesque.com/Commodities_Briefing/?p=134647#comments Wed, 21 Jan 2015 00:26:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134647 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134647>Article Link</a> A vital aspect of free and fair trade is that countries that trade with one another shouldn’t artificially devalue their currencies in order to make their imports and exports more profitable at their trading partners’ expense. (more…)

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Denmark vows to keep currency peg, likely to cut rates on Thursday http://www.opalesque.com/Commodities_Briefing/?p=134646 http://www.opalesque.com/Commodities_Briefing/?p=134646#comments Wed, 21 Jan 2015 00:26:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134646 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134646>Article Link</a> Denmark’s political and central banking establishment is uniting in a campaign to kill speculation that the country might follow Switzerland in scrapping a currency link to the euro. (more…)

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EU Parliament’s Biggest Group Withdraws Early Carbon-Fix Offer http://www.opalesque.com/Commodities_Briefing/?p=134645 http://www.opalesque.com/Commodities_Briefing/?p=134645#comments Wed, 21 Jan 2015 00:26:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134645 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134645>Article Link</a> The European Parliament’s largest political group withdrew a draft compromise on advancing a remedy for Europe’s carbon market to 2019 after its proposal failed to win broad support Monday in the legislature’s industry committee. (more…)

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ETS Reform – Where are we now? http://www.opalesque.com/Commodities_Briefing/?p=134644 http://www.opalesque.com/Commodities_Briefing/?p=134644#comments Wed, 21 Jan 2015 00:26:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=134644 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=134644>Article Link</a> The first two trading periods of the European Union’s Emission Trading System (EU ETS) were marked by a low and volatile carbon price, which failed to incentivise investment in low-carbon technologies and sufficient cuts in CO2 emissions. With the aim of curing the Emission Unit Allowance (EUA) price, the European Commission (EC) submitted a reform proposal, the so-called Market Stability Reserve. (more…)

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