Commodities Daily - August 28, 2018
> Oil prices tick higher on risk-on trading, as US strikes new trade deal with Mexico; US inventory data on the radar. Today, Brent will continue to mirror major stock market indexes and US dollar momentum. We expect it to consolidate around $76.0-76.5/bbl today in what could be a breather after last week's excessive rally.> Gold edges up as dollar loses ground on new US-Mexico trade deal. Today, our FX traders are saying that they see the recent rally in the euro as overdone based on technical levels and that they do not expect the trend to continue. We expect gold to hold above the $1,210/oz mark today.
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