What to Watch as China Gives Commodities a Wild Start to Year
- Investors bet on rapid recovery for Chinese economy in 2023
- US inflation data on Thursday will steer Fed’s next move
Crude oil and copper rose on Friday.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Commodities burst into Monday in an upbeat mood, with crude to copper rising amid growing optimism over Chinese demand. US inflation figures and a speech by Fed Chair Jerome Powell top this week’s diary as investors mull where raw materials are headed after a volatile start to 2023.
The US data on Thursday will feed into the Federal Reserve’s next steps on rates — perhaps the biggest swing factor for global commodities besides the pace of China’s post-Covid recovery. Also on the watch-list: the latest US government takes on crops and energy markets, China’s December trade figures, and falling natural gas prices across the world.