Commodities Daily - August 10, 2018
Oil prices stabilize after Wednesday's selloff on signs of physical market weakness; monthly IEA report in the spotlight. This morning, oil prices are under pressure from a stronger dollar. In its just-released monthly report, the IEA highlighted the current weakness in the oil market but expressed optimism over the expected Iranian supply losses. We see Brent trading within a $71-72/bbl range today.Gold slides as global risk-off drives dollar strength. We expect gold to retreat to $1,205-1,210/oz today on the dollar's renewed strength, which is likely to be bolstered by US CPI data.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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