Commodity Compass - 7/27 - Commodities Hinge on the US Dollar Moves while Copper Awaits the Tariff Deadline

A stronger U.S. dollar and a raft of economic data set the tone for commodities last week. Solid U.S. jobless‑claim figures bolstered confidence in the labour market and reinforced expectations that the Federal Reserve would leave rates unchanged, curbing demand for safe‑haven metals. However, durable goods orders slid and Chinese fiscal revenue contracted, raising concerns about a slowdown in industrial activity and dragging on oil markets.