Commodities Daily - July 16, 2019
> Oil remains range-bound; US macro agenda on the radar. Investor focus today will be on US retail sales (15:30 Moscow time) and US industrial production (16:15) for June. We do not expect Brent to be knocked out of its recent $66.00-67.50/bbl range today.> Gold prices steady as global markets continue to look for direction. Today, US retail sales and US industrial production for June could weigh on gold prices if they turn out upbeat. The retail sales data is expected to show another solid increase amid firmer consumer prices and falling gasoline prices. Meanwhile, after decelerating sharply from a recent peak late last year, industrial production has started to show some stabilization of late. Thus, we expect gold to dip to $1,405/oz later in the day today, but still hold above $1,400/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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