Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

Commodities

<ul><li>Why isn’t Gold starting to sell off? In last week’s report, we already highlighted that the golden metal stays unattractive - as the Fed will likely do more rate hikes.</li><li>The, in some parts, stronger-than-expected job market data we received last week confirmed that view once again.</li><li>We find it interesting that gold hasn’t shown more weakness yet - even as rates continue to rise again.</li></ul>

Why isn’t Gold starting to sell off? In last week’s report, we already highlighted that the golden metal stays unattractive - as the Fed will likely do more rate hikes.The, in some parts, stronger-than-expected job market data we received last week confirmed that view once again.We find it interesting that gold hasn’t shown more weakness yet - even as rates continue to rise again.

Why isn’t Gold starting to sell off? // The Big Sugar Rush

External broker reports(aggregated public sources), Unicredit

Unicredit Research

External broker reports(aggregated public sources)

Unicredit

With nearly 30 analysts, UniCredit Research provides high-quality macroeconomic and financial market analysis to support clients in the development of investment plans, strategic and tactical asset allocation of financial investments, security selection and risk management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Macroeconomics

<ul>
<li>Global: We are revising our global GDP growth forecasts up to 2.8% for this year and down to 2.7% for next year.</li>
<li>Business surveys suggest the solid start to the year is losing traction as the transmission of tighter monetary policy to the real economy accelerates and post-pandemic consumption shifts weigh on manufacturing.</li>
<li>Headline inflation is set to decline rapidly in advanced economies, driven by base effects, lower commodities prices, and easing cost pressures for goods, while services inflation will descend more gradually, keeping central banks on high alert.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Global: We are revising our global GDP growth forecasts up to 2.8% for this year and down to 2.7% for next year.
Business surveys suggest the solid start to the year is losing traction as the transmission of tighter monetary policy to the real economy accelerates and post-pandemic consumption shifts weigh on manufacturing.
Headline inflation is set to decline rapidly in advanced economies, driven by base effects, lower commodities prices, and easing cost pressures for goods, while services inflation will descend more gradually, keeping central banks on high alert.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Soybeans spike due to weather worries The worst U.S. Midwest drought since 2012 expanded over the past week despite mild temperatures as a lack of rain across the heart of the American farm belt threatened newly seeded crops.</li><li>Below-average rainfall and high winds also exacerbated drought conditions in many regions.</li><li>In the early growing stage of the crops, drought can be compensated by more rain in the later stages.</li></ul>

Soybeans spike due to weather worries The worst U.S. Midwest drought since 2012 expanded over the past week despite mild temperatures as a lack of rain across the heart of the American farm belt threatened newly seeded crops.Below-average rainfall and high winds also exacerbated drought conditions in many regions.In the early growing stage of the crops, drought can be compensated by more rain in the later stages.

Soybeans Spike Due to Weather Worries  - The Credit Crunch Isn’t over Yet

<ul><li>El Nino effects start to sink in? During last week grain prices saw building up some momentum.</li><li>The DSCI drought index also surged after many weeks of continuous declines.</li><li>Nevertheless, we should actually see lots of rain during the summer in the US if we’ll see a classic El Nino.</li></ul>

El Nino effects start to sink in? During last week grain prices saw building up some momentum.The DSCI drought index also surged after many weeks of continuous declines.Nevertheless, we should actually see lots of rain during the summer in the US if we’ll see a classic El Nino.

The World Has a New No. 2 Copper Supplier  - El Nino Effects Start to Sink In?

<ul><li>While the Flash Manufacturing PMI came in lower than expected at 48,5 (50,0 expected), the Flash Service PMI came in once again higher than expected at 55,1 (52,6 expected)</li><li>Prometheus Research shared this overview with us that highlights that the Service sector continues to hold this economy up.</li><li>The majority of service businesses continue to stay in the growing territory - this needs to change before we actually see a recession in the service sector as well. Keep in mind that the Manufacturing sector in the US accounts for “only” 11% of GDP!</li></ul>

While the Flash Manufacturing PMI came in lower than expected at 48,5 (50,0 expected), the Flash Service PMI came in once again higher than expected at 55,1 (52,6 expected)Prometheus Research shared this overview with us that highlights that the Service sector continues to hold this economy up.The majority of service businesses continue to stay in the growing territory - this needs to change before we actually see a recession in the service sector as well. Keep in mind that the Manufacturing sector in the US accounts for “only” 11% of GDP!

Make or break time for Gold // Goldman Sachs has no feeling for timing oil trades

United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

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Crude Oil (CL1 COM COMDTY)

Why isn’t Gold starting to sell off? // The Big Sugar Rush

Why isn’t Gold starting to sell off? In last week’s report, we already highlighted that the golden metal stays unattractive - as the Fed will...

The Commodity Report

UniCredit Research - Economics Chartbook

Global: We are revising our global GDP growth forecasts up to 2.8% for this year and down to 2.7% for next year. Business surveys suggest the solid...

Unicredit Research

Soybeans Spike Due to Weather Worries - The Credit Crunch Isn’t over Yet

The worst U.S. Midwest drought since 2012 expanded over the past week despite mild temperatures as a lack of rain across the heart of the American...

The Commodity Report

The World Has a New No. 2 Copper Supplier - El Nino Effects Start to Sink In?

El Nino effects start to sink in? During last week grain prices saw building up some momentum. The DSCI drought index also surged after many weeks...

The Commodity Report

Make or break time for Gold // Goldman Sachs has no feeling for timing oil trades

While the Flash Manufacturing PMI came in lower than expected at 48,5 (50,0 expected), the Flash Service PMI came in once again higher than...

The Commodity Report

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