Latest news with #TDSecurities'
Wall Street Journal
02-05-2025
- Business
- Wall Street Journal
Gold Consolidates; Fundamentals Solid Despite Recent Selloff
2346 GMT — Gold consolidates in the early Asian session. Despite the recent selloff, gold's fundamentals remain solid, TD Securities' Bart Melek says in a research report. 'It's likely too late to make tariff deals which would prevent an economic slowdown and higher inflation, implying the Fed may well cut rates in a de-facto stagflationary environment,' the head of Commodity Strategy says. 'At the same time, many relationships between the U.S. and key trading and strategic partners have been broken, suggesting a slow pivot away from USD and Treasurys will continue to happen, he says.' This implies market participants should again tilt toward the precious metal, Melek adds. Spot gold is 0.1% lower at $3,238.05/oz. (
Wall Street Journal
28-04-2025
- Business
- Wall Street Journal
Oil Edges Higher Amid Hopes for Easing U.S.-China Trade Tensions
2355 GMT — Oil edges higher in the early morning Asian session amid hopes for easing in the U.S.-China trade conflict. The WSJ reported, citing people familiar with the matter, that Chinese authorities have told some importers of American goods that they would waive the most recent 125% increases in tariff rates for certain U.S. imports. Such hopes could bring relief on the oil-demand front, TD Securities' commodity strategists say in a research report. Front-month WTI crude oil futures are 0.2% higher at $63.13/bbl; front-month Brent crude oil futures are 0.2% higher at $66.99/bbl. (
Wall Street Journal
04-04-2025
- Business
- Wall Street Journal
Oil Edges Lower, Weighed by U.S. Tariffs, OPEC+ Supply Increase
0026 GMT — Oil edges lower in the morning Asian session, weighed by U.S. tariffs and OPEC+'s supply increase. The U.S. tariffs and retaliation from targeted countries suggest that crude oil demand will be weaker than previously forecast, TD Securities' Bart Melek says in a research report. Demand will probably increase by less than 1 million barrels per day, while supply will likely grow by 'materially' more than that, resulting in a robust surplus over next nine months, the head of commodity strategy says. There may be 'more (oil price) downside in the cards,' Melek adds. Front-month WTI crude oil futures are 0.2% lower at $66.82/bbl; front-month Brent crude oil futures are 0.2% lower at $70.02/bbl. (
Wall Street Journal
03-04-2025
- Business
- Wall Street Journal
Oil Slides as Trump Tariff Announcement Sparks Fears of Global Slowdown
0039 GMT — Oil slides in the morning Asian session as President Trump's tariff announcement sparks fears of a global economic slowdown that could reduce oil demand. The 'tariffs were more aggressive, more immediate, more broad, and seemingly more permanent than markets were expecting,' TD Securities' Rich Kelly says in a research report. Crude oil prices will likely be tied to worse-than-expected macroeconomic implications from the tariffs, the head of Global Strategy adds. Front-month WTI crude oil futures slide 2.8% to $69.70/bbl; front-month Brent crude oil futures drop 2.7% to $72.92/bbl. (
Wall Street Journal
02-04-2025
- Business
- Wall Street Journal
Gold Steady, Underpinned by Signs of Chinese Buying Activity
2343 GMT — Gold is steady in early Asian trade. 'Buying activity by Chinese gold ETFs continues to pick up steam,' TD Securities' Daniel Ghali says in a research report. Chinese gold ETFs have added 233,000 ounces of notional gold over the last week, the senior commodity strategist says. Sentiment in China for the precious metal may have also been bolstered by Chinese life insurance companies' membership being granted by the Shanghai Gold Exchange, which officially allows them to buy gold, Ghali says. 'We see little scope for downside in gold,' the strategist adds. Spot gold is little changed at $3,112.98/oz. (
