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  1. 23 Feb, 2018

    ‘Canada Plus Plus Plus’ model for the UK?

    Yesterday morning the UK released their second estimate Q4 GDP figures. They were revised down to +0.4% from +0.5%, whilst the broad consensus and our own economist forecast had been for it to be unchanged at 0.5%.

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  2. 22 Feb, 2018

    Nickel set a new high

    Given that an employment data-led shift in interest rate expectations was the trigger for the ‘correction’ in equity markets earlier in the month, it is logical to have reasoned that a strong CPI print for the states on Wednesday last week, and its ultimate implications in the mind of FOMC members, may have sparked a second wave lower.

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  3. 22 Feb, 2018

    Brent recoveres sharply

    Brent recovered sharply last week, particularly after the weekly US inventory numbers revealed a lower than expected increase in US crude inventories of only 1.8m barrels of crude and 3.6m barrels of gasoline while at Cushing, the delivery point for US crude futures, there was a fall inventories of 3.6m barrels.

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  4. 16 Feb, 2018

    IEA growth forecast unchanged at 1.3m b/d

    The independent International Energy Agency has just released its latest monthly report last week, which covers the month of December 17.

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  5. 16 Feb, 2018

    Zinc continues to set successive highs

    Zinc has continued to set successive highs and this morning reached 3,481 $/MT, a new fresh 10 year high. A weaker USD across the board has been the driver for strength across the complex.

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  6. 16 Feb, 2018

    Brent rally is in danger of slowing down

    The dollar weakened significantly last Thursday after US Treasury Secretary Mnuchin said he favoured a weak dollar and this helped Brent rally in USD terms to a fresh high of 71.28 $/b.

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  7. 16 Feb, 2018

    Nickel prices briefly touches 14,000 $/MT

    Some of the base metals have continued to make successive highs, in line with a weaker Dollar and general risk appetite which is currently pervading asset markets.

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  8. 16 Feb, 2018

    Oil markets fall sharply

    Oil tracked asset markets lower last week. The record breaking run in equity markets came to an end leaving the S&P 500 down over 2% on Friday.

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  9. 16 Feb, 2018

    Metals have not fallen further

    The metal complex is broadly lower as a result of the substantial correction in equities and reduced investor risk appetite for. But, the main surprise is probably that metals have not fallen further.

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  10. 16 Feb, 2018

    Oil finally broke the uptrend

    Oil finally broke the uptrend that started with the lows of last summer and, as is often the way with these things, the correction was a brutal one. Brent touched a low of 61.77 $/b late on Friday evening; nearly 12% below its high on the 2nd of 70$/b – a fall of around 2.4% per day over that period.

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