Commodities Daily - March 28, 2018
Oil slides on US stock market correction, API crude stock build. Today, we expect Brent to retreat closer to $69/bbl later in the day on the EIA inventory data release. If refined products defy expectations and paint a bearish picture, then a strong correction below $69/bbl will be in the cards.Gold retreats on dollar recovery despite lower US Treasury yields and strong yen. The dollar is set to strengthen further today, suggesting that gold could slip to $1,335-1,340/oz. A break below $1,335/oz is unlikely, in our view, following the recent sharp retreat in Treasury yields.
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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