Commodities Daily - January 14, 2019
> Oil dips ahead of earnings season amid signs of slowdown in China. We expect dollar-supportive risk-off trading to prevail and further weigh on Brent, which in our view is likely to dip below the $59/bbl mark later today. We think that some of the major monthly reports on the oil market could be supportive for crude, but they will not arrive until later in the week.> Gold holds above $1,290/oz following US inflation release. US inflation remained largely stable in December, reducing the urgency for further Fed hikes and providing support for gold. The US remains in political deadlock, with no sign that the government shutdown will end anytime soon. The shutdown became the longest in history over this weekend.> Base metals under pressure following weak December data from China. This morning, Chinese trade data and statistics on passenger vehicle sales have triggered selling in base metals, with copper and nickel having declined the most, while zinc and aluminum continue to underperform.
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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