Commodities Daily - August 30, 2018
> Oil surges on bullish EIA inventory update; looming supply shortages dominate sentiment. Today, we expect Brent to remain near the elevated $77/bbl level following the bullish EIA report and amid a stronger dollar, with stock market dynamics also being a crucial driver.> Gold holds above $1,200/oz amid upward revision to US 2Q18 GDP; US data eyed. Our FX team notes that the most important data point to watch today will be US personal income growth in July, which could give a boost to the dollar if it is above the consensus forecast of 0.4% m-o-m. This might be enough to send gold below $1,200/oz. We expect it to consolidate near $1,195/oz later today.
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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