Commodities Daily - December 14, 2018
> Oil rises on monthly IEA report yesterday, weak Chinese data to weigh on prices today. The IEA's monthly report was more upbeat than the OPEC or EIA publications published earlier this week, which supported prices. Weak data from China this morning (November retail sales and industrial output) suggested that the trade dispute with the US is taking its toll on the Chinese economy. The downbeat data is likely to stay in the spotlight today and weigh on Brent, which we expect to hover around $61/bbl.> Gold weakens yesterday on stronger dollar after Draghi comments. Gold fell from $1,247/oz to $1,241/oz yesterday, pressured by a stronger dollar on ECB President Draghi's comment that "the balance of risks [for the eurozone economy] is moving to the downside." This morning, prices have fallen further, reaching their lowest levels this week at around $1,237-1,238/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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