Commodities Daily - March 5, 2018
Oil rebounds from last week’s lows on surging equities, weaker dollar and disruptions in Libya; OPEC set for meeting with US shale firms. We think Brent is likely to consolidate above $65/bbl later today, supported by disruptions in Libya, though this support could well be attenuated by expected dollar strengthening.Gold draws support from trade war uncertainty amid dollar weakness; correction likely today. As the likely future shape of the next Italian government becomes clear, we think EUR/USD is likely to weaken to 1.22 from the current 1.23. This should see gold prices retreating closer to the $1,320/oz mark.
Trump administration officials on Sunday said that the final tariffs on steel and aluminum imports should be signed and in place by the end of this week. There will be no country exclusions, but certain products could be exempted.
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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