Commodities Daily - August 27, 2019
> Oil trades sideways amid upbeat trade war rhetoric, likelihood of US-Iran talks. Today, investors will eye US FHFA housing prices, consumer confidence, the Richmond Fed index and API inventories. We think that Brent will hold today close to $59/bbl. Much now depends on China's response and whether China does in fact display a strong desire to try to reach a deal. > Gold stabilizes at new local high. Uncertainty over China-US trade ties continues. US data published yesterday was mixed. This morning, statistics confirmed market fears of negative trends in the German economy but did not provide significant support for gold. In the absence of political drivers, we think gold should continue to trade around $1,530/oz today.> Base metals stay under pressure despite positive news from China. Chinese industrial profits provided a positive surprise for the markets. Amid further statements from Donald Trump on the possibility of resolving the trade war, copper is trading at $5,640/tonne, zinc is at $ 260 /tonne and aluminum is at $1,766 /tonne.
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.