Commodities Daily - July 29, 2019
> Oil remains steady despite 2Q19 US GDP beating expectations. This morning, Brent is under pressure following the release of data showing a 3.1% y-o-y drop in Chinese industrial firms' profits in June (after a slight pickup in May), which provided further evidence of a slowdown in the country's manufacturing sector amid the ongoing trade war with the US. We expect Brent to keep hovering slightly above $63/bbl today amid the lack of important events.> Gold trading below $1,420/oz ahead of Fed meeting. US 2Q19 GDP data released on Friday surpassed expectations and indicated that economic growth is still headed in the right direction. Wednesday will be a decisive day for the gold market in 3Q19, as the Fed's decision and Powell's press conference will set the direction for gold until the end of September.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.