Commodities Daily - November 2, 2018
> Oil plummets despite weaker dollar and stronger equities as countries secure waivers from Iranian sanctions. Oil prices have this morning found support from reports that a US-China trade deal may be in the cards but are facing pressure from news that as many as eight countries could receive waivers from the US for the Iranian sanctions. We think the waivers story will predominate today and expect Brent to dip below $72/bbl. > Gold prices surge as dollar bounces off recent high; US labor report eyed. We think the dollar could pare back its recent losses this afternoon if the US jobs report is strong. In our view, this would push gold from the current $1,235/oz to below $1,230/oz. The next support level would be at $1,224/oz, according to technical analysis today from Reuters.
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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