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A commentary piece notes commodity markets were volatile, with a sharp December 2018 decline, a January 2019 rally, and a range-bound February. Gold has gained as a hedge, while industrial metals and oil supply are tightening; euro-area and Chinese growth have slowed.
Slowing industrialised growth and trade uncertainty cap broad commodity demand, while tightening oil supply supports energy-linked input costs for feed production.
thecorner.euFeb 24, 2019After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
