Commodities Daily - November 18, 2019
> Oil up amid US-China trade optimism, despite downbeat IEA report. Weekend reports that US and Chinese negotiators had a "constructive" call to work toward bridging their differences have been supporting sentiment in global markets this morning. Today, the oil market is awaiting an update to the December US shale output growth forecast in the EIA's monthly drilling productivity report. Amid the ongoing rally in risk assets, we expect Brent to first attempt to break above Friday's high of $63.65/bbl, and then, if successful, secure above $64/bbl later in the day. However, it will face technical resistance within the $64.0-64.7/bbl range.> Gold consolidates around the $1,465/oz mark amid positive political news. This morning, reports emerged that the US administration intends to roll over permission for US companies to work with Huawei for 90 days. The two sides held phone talks on Saturday to discuss the terms of a "phase one" agreement. Investor optimism is having a negative impact on safe-haven assets: the CFTC has reported a significant drop in long speculative positions in gold, which could limit the metal's short-term growth potential.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.