Commodities Daily - November 8, 2018
> Oil rises on possibility of OPEC+ deal extension before dipping on bearish EIA inventory report. Today, oil prices are likely to be at the mercy of the global stock and FX markets, both of which have been supportive for oil prices since late October. We expect them to continue providing support today, with an extra boost coming from this morning's data showing record-high Chinese oil imports of 9.65 mln bpd in October. We see Brent surging toward $73/bbl later in the day.> Gold mirrors dollar momentum following US midterms; Fed decision eyed today. Given the latest upbeat labor report, our FX team expects the Fed to remain hawkish and hint at a rate hike in December. This would support the dollar and pressure gold prices. We see the yellow metal sliding below $1,220/oz later in the day today.
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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