Commodities Daily - August 23, 2018
> Oil prices surge on upbeat US inventory data; US-China trade talks on the radar. Today, amid early signs of dollar strengthening, we expect this factor to weigh on oil prices. If there is no progress in the talks, additional strong pressure could be exerted on oil prices. In our view, Brent is likely to dip below the $74/bbl mark today.> Gold reaches $1,200/oz but now retreating; strong US PMI on radar. Today, investors will be eyeing the release of ECB minutes, which are unlikely to rattle markets. Later on, an expected strong PMI reading out of the US (16:45 Moscow time) is likely to boost the dollar more. We see gold continuing to slide, eventually reaching the $1,185/oz mark.
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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