Commodities Daily - February 15, 2018
Oil rallies on dollar slump and mixed EIA inventory data. We think that yesterday’s Brent/dollar interdependence will feed into today’s trading, with US PPI data (at 16:30 Moscow time) acting as an important factor for prices. We think Brent is likely to take a breather after yesterday rally but stay above $65/bbl today, with EUR/USD likely ascending closer to 1.25.Gold surges following dollar retreat post CPI figures. Today, investors are eyeing the Empire State/Philly Fed surveys, US PPI, initial jobless claims and industrial output, with EUR/USD look set to break above 1.25 for the first time since early February, which we think will result in gold testing the $1,360/oz mark later in the day.
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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