• Markets wait for Wednesday’s decision from the US Fed and expect a decline of 25 basis points in the Fed Funds rate
• Stocks move to record highs
• Stable precious metals- Palladium makes another new high
• Oil is quiet- Natural gas moves higher
• Trade continues to be the significant issue for commodity
Precious metals move higher across the board led by platinum
Copper moved higher and lumber climbs above $400 per 1,000 board feet
Crude oil moved higher while natural gas falls
Agricultural commodities turn in a mixed performance on the week
The market awaits the October 30 Fed meeting
Andy Hecht & Bubba Horwitz discuss their trading philosophies. The approach to taking risk in…
• The US dollar continued to decline over the past week
• Precious metals move mostly higher, but palladium and rhodium pull back over the recent gains
• Crude oil recovers and outperforms product prices while natural gas and coal prices decline
• Copper and most base metals post gains, but nickel corrects since last week
• Hog prices decline- the price of coffee futures recover
The dollar index falls over the past week
Precious metals were mostly steady, but palladium rises to a new record high
Crude oil and products edge lower, natural gas bounces
Some strength in agricultural commodities
Bitcoin edges below $8000
• The US dollar slips to a seven-week low
• Optimism rises over a “phase one” trade deal between the US and China
• Precious metals continue to slip, but palladium rises to new record higher
• Strength in energy and grains
• The markets await news and the October 30 Fed meeting
Gold and silver move lower, but platinum and palladium grain
Strength in oil, oil products, and ethanol, while natural gas falls
Grains and meats post gains on optimism over trade
Coffee, sugar, and FCOJ fall while cotton and cocoa gain
The dollar index falls, and Bitcoin moves to the upside
• Weakness in stocks at the start of Q4
• Precious metals in consolidation mode
• Oil falls but oil products outperform forcing crack spreads higher
• Natural gas under pressure while ethanol climbs
• The October WASDE report comes out on Thursday
Precious metals prices stable, but platinum declines
Weakness in energy prices- bullish reversal in natural has on October 3
Grains move higher while meats were mixed
The dollar index slips but remains near the high
Marginal gains in digital currencies and volatility returns to the stock market over the past week
Summary
• Two sectors gain, and four post losses in Q2.
• Nickel is the leader on the upside with silver second.
• Precious metals are the best-performing sector with base metals the only other winner.
• Energy was the worst-performing sector with soft commodities and animal proteins a close second.