Commodities Daily - August 13, 2018
Oil prices surge on monthly IEA report; OPEC monthly report in spotlight. Today, we think that Brent will pare early loses and go on to reach the $73-74/bbl area later in the day on bullish takeaways from the monthly OPEC report. Gold's gains on Friday amid safe-haven demand fueled by plunging Turkish lira prove short-lived. Our FX team expects a further drop in the lira today, which would continue to drive the dollar higher. This would most likely pressure gold, which could struggle to hold above $1,200/oz, a key psychological threshold.
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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