Commodities Daily - August 20, 2019
> Oil ticks higher as more economic stimulus measures are considered globally. A certain measure of optimism about economic growth has returned to markets, especially in light of the fact that recent developments suggest progress toward a trade deal this month and next. Today is a very light day for macro flow (API inventories are due overnight). We expect Brent to eventually break above the $60/bbl mark today amid stock market tailwinds and growing appetite for risk assets.> Gold prices down on announcements of new economic stimulus measures. Yesterday, the Bundesbank warned of a possible technical recession in Germany and stated that it was discussing a set of measures to try to forestall a deeper crisis. The White House, meanwhile, postponed by 90 days a potential ban on US companies doing business with Huawei. These headlines have restored a measure of risk appetite to markets and led to a correction in gold prices. Today, the focus will be on Italy, where the prime minister will speak in parliament and a no-confidence vote could ensue.
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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