Commodities Daily - May 27, 2019
> Oil stabilizes after strong selloff; crude prices continue to mirror stock markets, moving on trade war rhetoric and global economic data. We do not expect volatility in oil prices to be high today amid subdued trading activity due to the US and UK holidays. We see Brent remaining within the $68-69/bbl range. As for global events, there are few important ones today. The most notable one we see is a meeting of EU trade ministers to discuss the state of trade negotiations with the US.> Gold price stable around $1,285/oz amid a weakening dollar. Friday's publication of US durable goods orders put downward pressure on the dollar. Risks in Europe remain high in the wake of Theresa May's resignation on Friday and the European Parliament elections held over the weekend. Further uncertainty related to the US-China trade war will likely affect the market this week. Today, we expect gold to trade in a sideways pattern with no significant movements.
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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