Commodities Daily - August 16, 2018
Oil prices slide on bearish EIA report; upcoming US-China trade talks boost sentiment. News that China and the US will hold trade talks this month should provide broad support for stocks during the European and US trading sessions and keep Brent above $71/bbl for the rest of the day today. That said, we note that the talks will not involve top officials, meaning that their significance may be overstated and a breakthrough in the trade dispute seems unlikely.Gold prices fall amid stabilizing dollar, stronger yen and lower Treasury yields. There is no major US or eurozone data due today, and our FX team notes that EM currencies are still vulnerable to negative news flow. This is negative for gold, as it should keep demand for dollars elevated. Our FX analysts doubt that EUR/USD can sustain this morning's move above 1.1350, so we see gold remaining below $1,180/oz today.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.