Commodities Daily - March 25, 2019
> Oil slides on downbeat global PMIs, Treasury yield curve inversion. This week the main question, in our view, is whether Brent can keep holding out against the risk-off momentum and stay above its key technical support level, which today is $64.47/bbl (Brent's 50-day moving average). Other levels of technical support today (closer to the current front-month price), according to Bloomberg, are $66.16/bbl and $65.29/bbl, and we expect Brent to end the day near the former.> Gold prices advancing. Gold traded above $1,310/oz on Friday amid weak IHS Markit PMIs from the US and eurozone. An inversion of the US yield curve sent investors fleeing from risk assets and supported gold. We see gold heading toward $1,320/oz today ahead of tomorrow's Brexit vote and with risk appetite globally suppressed.
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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