Commodities: Fundamentals paint a positive picture – ANZ

FXStreet Insights Team FXStreet

Commodity markets have become a popular asset class for portfolio investors, just like stocks and bonds. Strategists at ANZ bank analyze commodities outlook.

Falling inventories point to market tightness

Commodity markets have been under pressure in recent time amid a weak economic backdrop. Despite this, there are signs of tightness.

Inventories have always been a good guide to demand; and after a shaky start to the year, are showing signs of tightness across most markets.

There has been a clear drawdown across commodity exchanges and the broader supply chain. However, the trends are more discrete across the energy market. Industrial metals are now at multi-decade low levels which could trigger price rallies amid supply shocks.

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD consolidates around 1.0900, bullish bias remains ahead of key US data

The EUR/USD pair is seen consolidating its strong gains registered over the past two days and oscillating in a narrow band during the Asian session on Tuesday. Spot prices currently trade around the 1.1900 mark, just below an over one-week high touched the previous day.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold retreats below $5,050 on profit-taking ahead of US data

Gold price attracts some sellers in the Asian session on Tuesday, falling back below $5.050. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders look to the US Retail Sales data and Fedspeak due later in the day ahead of Wednesday's Nonfarm Payrolls release.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

The market is buying everything again but is it dancing on a borrowed floor

The market has a short memory and a fast trigger finger. Last week’s liquidation barely cooled before risk came roaring back, pushing the S&P toward record territory and reinstalling Big Tech as the engine of choice. This is not discovery. It is re exposure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.