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Commodities posted their first broad weekly gain in eight weeks, with crude oil rising sharply. European gas and power prices climbed as stockpiles shrank, and gold was held back by expectations of faster US rate hikes.
Higher energy costs raise biofuel and fertilizer input costs and can lift feed-grain prices, while expected rate hikes strengthen the dollar and weigh on dollar-priced commodities.
home.saxoOle HansenJun 16, 2021After 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 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% 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.
