Global events shaping the commodities markets

Markets this week have been shaped by a volley of global events, each leaving its mark on commodities and freight. We’ve seen flat performances across dry freight indexes, despite slight gains in Capesize and Panamax sectors, and a muted Supramax uptick offset by minor losses in Handys.

Oil and equity markets? Responding to political developments, most notably in the US, as tariffs and policy uncertainty weigh on sentiment.

If you’re following the impact of US and Canadian politics on trade, this episode provides a timely overview.

Chris Hudson joins me, Davide, to break down the effects of Trump’s executive orders and tariffs on North America’s cross-border commodity trade, alongside the newly-elected Prime Minister Carney’s reaction in Canada.

We flag the difficulties market participants are facing as they try to adapt to “wait and see” conditions, with S&P volatility, shifting border policy, and tariff unpredictability creating new risks.

The episode also explores the knock-on effects for currencies and global commodity pricing, tracking the Fed’s interest rate stance and its implications for everything priced in dollars.

You'll get a first-hand view on how global supply chains are being tested by changing political rhetoric, and what this means for iron ore, coking coal, and dry freight trends moving into May.

Timestamps

00:00 Market Volatility Amid News Overload

03:36 U.S. Politics: Executive Orders & Market Trends

08:24 Trump Era Politics & Economic Insights

09:54 Trump Criticises Powell on Rates

14:41 Uncertainty in Economic Forecasting

16:49 Decarbonisation Challenges and Economic Priorities

21:46 US Tariff Easing Boosts Markets

24:14 Australian Coking Coal Market Rebounds