Dear Client, Next week, we will be sending you BCA Research’s Annual Outlook, featuring long-time BCA client Mr. X, who visits towards the end of each year to discuss the economic, financial and commodity market outlook for the…
Commodity prices and the US dollar tend to be inversely correlated. This relationship can be explained by multiple forces. First, a stronger dollar raises the local currency costs of commodities for foreign consumers and as a…
China’s construction sector is a key source of global demand for industrial commodities and in turn the prices of raw materials such as copper, iron ore, steel, and aluminum. As such, the LMEX has historically tracked…
Highlights The 26th Conference of the Parties (COP26) will open this weekend in Glasgow, Scotland, amid a global crisis induced in no small measure by policies and regulations that led to energy-market failures. Price-distorting…
Copper prices are once again on the rise. After peaking in May, the red metal failed to break below its 200-day moving average and is up 13% so far in October. There is scope for copper prices to continue rising. In the…
Highlights A perfect storm has engulfed global energy markets. Strong economic growth, adverse weather conditions, and politically-induced supply disruptions have caused energy prices to surge. Fortunately, the global economy has…
Highlights The surge in energy prices going into the Northern Hemisphere winter – particularly coal and natgas prices in China and Europe – will push inflation and inflation expectations higher into the end of 1Q22 (Chart of…
Next week is the BCA Annual Conference, at which I will debate Professor Nouriel Roubini on ‘The Outlook For Cryptocurrencies’. I will make the passioned case for cryptos, and Nouriel will make the passioned case against. I…
Dear Client, We are sending you our Strategy Outlook today, where we outline our thoughts on the macro landscape and the direction of financial markets for the rest of 2021 and beyond. Next week, please join me for a webcast on…
HighlightsThe power shortage in China due to depleted coal inventories and low hydro availability will push copper and aluminum inventories lower, as refineries there – which account for roughly one-half of global capacity – are shut to…