Commodities Daily - May 24, 2019
> Weaker dollar pushes gold prices higher. Risk appetite was curtailed yesterday amid the continuing US-China trade war uncertainty, weak PMIs from the eurozone and unimpressive new home sales in the US. This spurred interest in defensive assets, a trend that remains in place this morning. Today, eyes will be on US durable goods orders. We expect gold to consolidate around the $1,280/bbl mark today. > Optimism prevails in base metals markets this morning. US President Trump said the Huawei situation could conceivably be resolved within the framework of a trade deal with China. Announcing a $16 bln agricultural support program, he noted that there is a "good opportunity" for trade talks to resume. Trump's positive comments caused base metals to advance across the board this morning. Nickel led the way (+3%), followed by zinc (+1.3%) and copper (+0.8%).
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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