Finally, it was a positive day for many commodities on April 5. Given the weakening US Dollar in the run up to the FOMC meeting minutes' release later on Wednesday, precious metals posted a very healthy price spike of more than one full percentage point.
Futures for natural gas spiked the most among main commodities on Monday, by rallying about 2.15% over the past 24 hours.
All but one commodity were down in price on the first day of April, as only corn appreciated by about seven tenths of one percent. General direction of the market is clearly reflected in the benchmark S&P GSCI Index, which was pushed down by 2.17% over 24 hours through Friday evening.
Commodities have been clearly divided into the gainers and losers on Thursday. Among the latter, natural gas fell for the first time in several working days and capped the winning streak that took place due to colder US weather forecasts.
Natural gas prolonged its gaining streak to three consecutive days, as yesterday it managed to add 0.76% to its value.
Notwithstanding quite depressed US Dollar in the wake of dovish remarks made by the Fed Chair Janet Yellen yesterday, oil prices failed to sustain their price increases and finished the second trading session of this week with a dip of 2.8%.
Natural gas prices spiked the most among major commodities on March 28, not least due to the fact that this component was the only one to receive influential side-effect news.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
All commodities without any exception took a massive hit to their prices on Wednesday, owing to much heavier and confident US currency.
A considerable advance in natural gas prices on Tuesday followed the most significant (among major commodities) drop on Monday.
Natural gas futures took the biggest hit among all major commodities on Monday, as they plummeted by more than 4% over the past 24 hours.
Even though the general direction of global commodity markets had a bearish bias on Friday, any changes were not extreme amid quite balanced trading conditions.
For the first time since early December the price of oil spiked above $40 per barrel for both Crude and Brent components, as over the past 24 hours they continued to advance and climbed by 4.5% and 3%, accordingly.
Commodity prices skyrocketed on Wednesday, helped by weaker US Dollar in the wake of Federal Reserve's monetary policy decisions.
For the second consecutive day only one commodity managed to add value, although yesterday it was natural gas that appreciated by 1.76%.
The only major commodity to appreciate on Monday was corn, which added slightly more than one percent. Higher US Dollar is weighing on the majority of Greenback-dependent commodities, while fundamentals are fuelling a decline even more.
Energy prices spent the last day of the previous week in a confident uptrend, given largely optimistic US stockpiles' reports and on the back of analysts' views the turbulence in global markets has practically come to an end.
Mario Draghi, the European Central Bank's president, made an announcement that the regulator is unlikely to cut interest rates further in the nearest future, albeit not completely ruling out such a possibility.
Oil prices have erased all Tuesday losses and rallied by almost 5% for the American-made Crude and by 3.58% for the European-traded Brent.
Traders have used the opportunity to reconsider their bullish stance on oil prices in the wake of the recent agreement between Russia and OPEC countries on the matter of production freeze at January levels. Oil took a leg down and posted a daily decrease of 2.9-3.7% depending on the origin.
While on Friday there was one commodity (gold), which registered a loss in prices, on Monday every single component from our daily review managed to fix a green candle.
All commodities except gold posted a considerable increase in prices on March 4. The bullion was seen under bearish pressure amid a return of risky sentiment.
Futures of natural gas are heading for multi-decade lows amid heavy global oversupply. Yesterday this component continued to show a drop in prices of 2.32%, while being joined by Crude oil on the side of losers.