Commodities Daily - March 28, 2019
> Oil ticks lower on mixed EIA inventory data and deteriorating risk sentiment; US macro data and US-China trade talks eyed. We think that global market momentum continues to be skewed toward further risk-off trading, which could be amplified today by any further dovishness from Fed speakers and if US macro data comes in soft. This confluence of events could push Brent below $67/bbl. The major risk to this view is possible upbeat developments from the US-China trade talks. > Gold retreats, despite Treasury curve remaining inverted. Yesterday, ECB President Draghi said the bank could delay a rate hike, which impacted US Treasury yields and helped to boost the dollar. Today, we await speeches by a number of Fed officials and an array of US data, including 4Q18 GDP. Gold is likely to trade sideways in the $1,305-1,315/oz range.
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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