Commodities Daily - June 28, 2018
Oil prices surge on growing supply risks and strong US crude stock draw. We expect Brent to slide slightly below $77/bbl today on profit taking after gaining $4/bbl earlier this week.Gold slides on sustained dollar strengthening despite lower Treasury yields. Today, the key risk factor for the euro and gold will be the EU summit, where European leaders could struggle to find unity over the migration issue. Our FX team thinks that EUR/USD is likely to trade flat today, so gold is likely to remain near $1,250/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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