Commodities Daily - March 7, 2018
Oil and stocks trade sideways amid weak dollar; EIA revises US production forecasts; API reports crude and gasoline stock builds; EIA data eyed. Today, we expect the EIA to report a weekly crude stock build. This, along with weakness in global equity markets, will likely drive Brent below $65/bbl. However, an expected gasoline stock draw would offset the pressure.Gold prices surge despite decline in Korean tension as dollar slumps; US trade debate in focus. We expect a volatile session for gold today, though it is likely to remain range-bound at $1,330-1,340/oz, as the dollar is strengthening against high-yield currencies but weakening against the liquid euro and yen.
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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