Commodities Daily - February 19, 2019
> Oil flat despite deteriorating Asian trade data; US-China talks, Fed and ECB speakers, EIA tight oil report eyed. The EIA's drilling productivity report today will provide a forecast of US tight oil production growth next month. Also worth noting is that Mohammad bin Salman kicks off a tour of Asia today that could see some market-moving statements. In addition, our FX team has highlighted that dovish commentary from Fed and ECB speakers should support appetite for riskier assets during the day. In our view, it could push Brent toward the higher end of the $66-67/bbl range.> Gold prices push above $1,325/oz ahead of latest Fed minutes due tomorrow. US politics, in particular the fight over Trump's border wall, continues to boost prices. ECB and Fed officials speak today, which we expect to add more support. Owing to these factors, we think gold has the potential to climb to $1,330/oz today or tomorrow.
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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