The post Platinum: Repeated deficits tighten stocks – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Commodity Analyst Barbara Lambrecht reports that focus in London is turning to Platinum group metals as the World Platinum Investment Council prepares updated forecasts. The bank expects WPIC to project a fourth consecutive annual deficit, further eroding above-ground stocks that already cover only four months of demand. Continued medium-term deficits and inventory drawdowns would likely underpin Platinum prices. WPIC outlook and shrinking inventories “At the start of the week, the World Platinum Investment Council (WPIC) will present its new forecasts for the platinum market. It is expected to forecast the fourth consecutive supply deficit for this year.” “Even though the supply deficit is likely to be smaller than in previous years due to weaker demand from the automotive industry and for platinum jewelry, above-ground inventories — which have already fallen significan
The post Copper: Tariff risk fuels rally – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Commodity Analyst Barbara Lambrecht highlights that Copper has surged to record levels on the London Metal Exchange, supported by structural demand from the energy transition and data centers. At the same time, the US is considering extending tariffs to refined Copper from 2027, encouraging pre-emptive stockpiling and tightening supply outside the US. Chinese production data due next week will be closely watched. Record prices and looming US tariffs “In the base metals markets, sentiment remains positive despite another significant rise in energy prices: The London Metal Exchange index even hit a new record high this week. A ton of copper cost more than USD 14,000.” “In addition to concerns about a shortage of copper ore, fears of an expansion of US tariffs on metal imports are likely also playing a role in the current copper price rally. The US Department of Commerce is expected t
The post Gold: Higher yields weigh on price – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Carsten Fritsch notes that the Gold price has retreated sharply as markets price in renewed US rate hikes after strong producer price data. Rising US Treasury yields are increasing the opportunity cost of holding Gold, while India’s steep import tax hike is set to curb physical demand. The new Fed Chair may struggle to justify rate cuts. Rate expectations and Indian tax shock “The price of gold has fallen by up to 2% today to USD 4,560 per troy ounce. Before the price drop began yesterday, it was still trading at around USD 4,700. Headwinds are coming from interest rate expectations.” “Following the significantly higher-than-expected US producer price data for April, the market now anticipates interest rate hikes by the US Federal Reserve. A 15-basis-point rise in US key interest rates is priced in by the end of the year, and a full 25-basis-point rate hike by March 2027. As a r
The post Hungarian Forint: Swap move flags MNB easing risk – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Tatha Ghose notes that the National Bank of Hungary (MNB) cut the implied rate on EUR liquidity swaps, effectively a 50 bp easing signal that widens the gap to the base rate. While the Monetary Policy Committee (MPC) kept the policy rate unchanged and maintains a wait‑and‑see stance, the June Inflation Report could open the door to cuts. The bank does not expect this to hurt the Forint given strong real rates and supportive politics. NBH swap cut prefaces possible rate easing “The National Bank of Hungary (MNB) reduced the implied interest rate on its EUR-liquidity swaps with domestic banks on Wednesday, a move widely seen as a precursor to monetary easing.” “This translates to roughly 50bp rate cut, widening the gap of the swap rate versus the main policy rate to 1pp.” “While not a formal change to the base rate, this can be interpreted as an implicit acknowledge
The post British Pound: Political strain weighs on Sterling – Commerzbank appeared on BitcoinEthereumNews.com.
Commerzbank’s Michael Pfister highlights mounting political turmoil in the United Kingdom (UK), with resignations and leadership speculation tightening pressure on Prime Minister Keir Starmer. He sees rising uncertainty over future fiscal policy as negative for the Pound (GBP). Despite recent Pound weakness, Commerzbank believes markets have not fully priced the risks and continues to expect higher EUR/GBP in the coming weeks. UK political risks seen hurting Pound “Nevertheless, the noose around Starmer’s neck seems to be slowly tightening.” “The Prime Minister appears severely weakened, and it is questionable whether he can remain in office for much longer.” “The situation is bad for the pound for two reasons.” “Firstly, political uncertainty rarely benefits a currency, and secondly, it is currently unclear what policies the potential successors intend to implement.” “Despite
Insider Brief London-based AI chip startup Fractile announced in a company blog post it raised $220 million in a funding round led by Accel, Factorial Funds and Founders Fund as investors continue pouring capital into hardware designed to support the growing computational demands of artificial intelligence. The company said the funding will be used to […]
The post Game Changer London 2.0: Trust, Ai And The New Architecture Of Decision-Making appeared on BitcoinEthereumNews.com.
In the heart of London, at the historic Royal Institution of Great Britain, more than 350 leaders, researchers and builders of the future gathered to explore a question that is no longer theoretical: what does the world look like when intelligence is distributed between humans and machines? London is no longer speculating about the future of artificial intelligence, it has become one of its live testing grounds. The second edition of Game Changer London transformed a single day into a dense, multi-layered map of emerging relationships between AI, trust and human behaviour. What began as a technological dialogue ended as a societal diagnosis: AI is no longer just a tool, but a layer of reality through which everything else is processed. The conference was opened by Dr. Vanja Ljevar, who set the tone with a simple but foundational statement: “It’s a Matter of Trust
The post ECB Philip Lane: Oil shock to require rate hikes appeared on BitcoinEthereumNews.com.
The European Central Bank (ECB) Chief Economist Philip Lane crossed the wires, saying that the energy shock caused by the Iran war will require a restrictive policy at a conference in London. Lane said that “a mid-size but not-too-persistent overshoot could warrant some measured adjustment,” adding that the response has to be “appropriately forceful or persistent” on Lane reaffirmed the ECB’s line that “a mid-size but not-too-persistent overshoot could warrant some measured adjustment” while the response had to be “appropriately forceful or persistent” would require a firmer or longer-lasting policy reaction. EUR/USD reaction on the headline The EUR/USD bounced off around the 1.1700 figure, past the 100-day Simple Moving Average (SMA) of 1.1708, which could open the door for further gains. Up next is the 20-day SMA at 1.1730. ECB FAQs The European Central Bank (ECB) in Frankfurt, Germany, is
