Bank of Japan Governor Ueda Bank of Japan Governor Kazuo Ueda said on Monday that the central bank remains on track to raise interest rates further if its projections for economic activity and inflation continue to unfold as expected, while stressing that any tightening would preserve broadly accommodative financial conditions. Ueda said overseas economies have shown “some weakness” but…
Gold kicks off the new week on a softer note, eroding part of Friday’s strong move up back toward the November swing high, though the downtick lacks bearish conviction. Dovish Fed expectations keep the USD depressed near its lowest level in nearly two weeks and continue to underpin the non-yielding bullion. Bulls, however, pause for a breather and await…
OPEC+ agreed on Sunday to maintain its group-wide oil production quotas for 2026 and approved a long-delayed mechanism to assess each member’s maximum production capacity — a step that will shape how output quotas are allocated from 2027 onwards. A subset of eight OPEC+ producers also reached an agreement in principle to extend their pause on output hikes through…
The Silver price rose from $50 to more than $54 per troy ounce since the beginning of the week. The rise in the price of Silver thus eclipsed that of Gold. The Gold/Silver ratio subsequently fell to an annual low of just over 77, Commerzbank’s commodity analyst Carsten Fritsch notes. Shanghai Silver inventories drop to 10-year low “The Silver…
Data released by China’s National Bureau of Statistics (NBS) over the weekend confirmed China’s economy lost momentum in November as both factory and service-sector gauges slipped further into contraction, highlighting an uneven recovery and persistent strains in property-linked activity. The official manufacturing PMI edged up to 49.2 from 49.0, its eighth straight month below 50, signalling continued weakness despite…
Platinum climbed to $1,650 this week as China launched physically settled futures and options, increasing transparency and attracting industrial, jewelry, and investor participation, Commerzbank’s commodity analyst Carsten Fritsch notes. China launches physically settled Platinum and Palladium futures “The Platinum price rose significantly this week. Yesterday, it reached its highest level in over a month at $1,650 per troy ounce….
Inflation perceptions over the previous 12 months seen at 3.1% (unchanged) Inflation expectations 12 months ahead seen at 2.8% (previously 2.7%) The qualitative measure continues to show an increase in the percentage of number of respondents expecting inflation to be higher in the next 12 months, now seen at 85.6% (previously 85.2%). As for the 2.8% median noted above…
The Copper price has risen above the $11,000 per ton mark again this week. The increase was fueled by various statements made during a Copper industry conference in Shanghai, Commerzbank’s FX analyst Volkmar Baur notes. US tariff uncertainty fuels COMEX stockpiling “The chair of a metals and mining research firm cautioned that Copper prices in the US may continue…
Rate cuts by year-end Fed: 20 bps (79% probability of rate cut at the upcoming meeting) 2026: 93 bps ECB: 1 bps (97% probability of no change at the upcoming meeting) 2026: 8 bps BoE: 23 bps (94% probability of rate cut at the upcoming meeting) 2026: 64 bps BoC: 3 bps (84% probability of no change at the…
AUD/USD trades around 0.6535 on Friday at the time of writing, virtually unchanged on the day. Despite several attempts to extend its recent rebound, the Australian Dollar (AUD) struggles to maintain upward momentum, even as stronger-than-expected inflation continues to delay expectations of Reserve Bank of Australia (RBA) easing and revives the risk of another rate hike. The AUD benefited…
