Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Gold and copper are at record highs

Copper set a new all-time high, briefly rising above $11k per tonne on Monday.

Video poster image

European indices

European indices were poised to open higher on Monday morning. The Dow Jones was set to start the week above 40,000 points.

People's Bank of China

As expected, the People's Bank of China (PBOC) left its benchmark lending rates unchanged. The one-year loan prime rate was kept at 3.45%. The five-year loan prime rate, which is the reference for property mortgages, stayed at 3.95%.

Copper

On Friday, Chinese authorities unveiled what they called "historic" steps to stabilize the property sector crisis, with the PBOC facilitating 1 trillion yuan in extra funding and easing mortgage rules. On the same day, China's industrial output grew 6.7% year-on-year in April, largely beating expectations. These announcements supported industrial metals.Copperset a new all-time high, briefly rising above $11k per tonne on Monday.

The Reserve Bank of New Zealand

The market expects news from a few central banks, starting tomorrow with the Reserve Bank of New Zealand minutes. A couple of weeks ago, the Australian central bank decided to keep interest rates at 4.35% but softened its stance, saying that interest rates are at the right level to get inflation back to target. On Wednesday the Reserve Bank of New Zealand (RBNZ) interest rate decision. No change is expected; Adrian Orr's team should keep New Zealand's official cash rates at 5.5%. The rate has now been at that level for a year.

The Federal reserve

On Wednesday evening, the markets hope Federal Open Market Committee (FOMC) minutes will provide more cues on when the US Federal Reserve will start cutting rates. According to the CME FedWatch tool, a rate cut is not expected before the second half or this year, with currently a 65% probability of a cut at the September meeting and a 77% chance of a cut in November. CME data also suggests that there is a chance, albeit small, of two rate cuts by the end of the year.

The British pound

The GBP is under watch this week, as several macro indicators could alter its course. On Wednesday, the UK headline consumer price index is expected to rise by 2.1% in April year-on-year (YoY), after a 3.2% increase in March. This would be its lowest level since July 2021. On Thursday, UK S&P Global Manufacturing PMI flash is seen rising marginally to 49.2 in May; services PMI at 54.8. Services Purchasing managers' index (PMI) are forecast at 54.8, after 55 in April. On Friday, economists anticipate UK retail sales to decline by 0.2% on a monthly basis, following two months of flat growth.

Ryanair

Ryanair posted its full-year earnings. Profit after tax rose 34% year-on-year to a record €1.92 billion, a result broadly in line with expectations. Revenue per passenger was up 15%. Ryanair also said it will be 23 jets short of the number Boeing was due to deliver by the end of July.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

React to volatility on commodity markets

Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1

  • Wide range of popular and niche metals, energies and softs
  • Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
  • View continuous charting, backdated for up to five years

1In the case of all DFBs, there is a fixed expiry at some point in the future.

See opportunity on a commodity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See opportunity on a commodity?

Don’t miss your chance. Upgrade to a live account to take advantage.

  • Analyse and deal seamlessly on fast, intuitive charts
  • Get spreads from just 0.3 points on Spot Gold
  • See and react to breaking news in-platform

See opportunity on a commodity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Equities
  • Indices
  • Forex
  • Commodities
website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

" >


Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.