Commodities Daily - August 29, 2018
Oil price rally eases as investors eye EIA inventory update. We expect the EIA to report a 2 mln bbl decrease in crude stocks on still elevated, albeit lower w-o-w, refinery inputs. After yesterday's setback, we see Brent continuing to hold above $75/bbl following the release.Gold prices pare recent gains, further correction possible. Our FX analysts expect EUR/USD to dip to 1.16 today given the rising risks for the European economy, which could send gold below $1,200/oz. We expect gold to consolidate near $1,195/oz.
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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