Commodities Daily - January 11, 2019
> Oil prices stabilize as stock rally takes breather; US inflation data eyed. Today, market players will eye the US December inflation figures due at 16:30 Moscow time. If monthly inflation is low, as expected, this could encourage the Fed to stick to its dovish messaging, thus providing support to stocks and oil. We, however, believe that the upside is limited, given the recent rally, and expect Brent to continue trading near the $62/bbl mark.> Gold holding strong in the $1,290-1,294/oz range this morning. This comes amid further political tensions in the US. Meanwhile, Fed Chairman Powell said that the Fed had the "ability to be patient" with regard to interest rate increases in 2019. The US government shutdown continues and may at some point begin to affect the economy.> Base metals stay firm amid dollar weakness and positive headlines from China. Copper and nickel both rose yesterday, while aluminum remained affected by political headlines. Chinese Vice Premier Liu He is set to visit Washington on January 30 and 31 for more trade talks.
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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