Commodities Daily - October 16, 2019
> Oil trades sideways as US-China trade uncertainty rears its head again, cautious Brexit optimism. Today, investors will mainly eye US September retail sales data, which will shed light on the state of US consumers, thus providing a gauge of how well they will be able to keep propping up overall economic growth over the next several months amid increasing signs of a US economic slowdown. News flow on Brexit and the evolving US-China trade story will remain the key risk sentiment drivers. If retail sales are in line with expectations, we think Brent will hold within its current $58.5-59.0/bbl range.> Hopes for Brexit deal with EU pushed gold prices lower yesterday. Brexit is the central focus of investors, as talks continue and hopes for a deal have risen. US retail sales and the Fed's Beige Book will also be eyed today. If some sort of Brexit deal is announced today, we think gold could be pushed down to the $1,470/oz mark. Negative headlines, however, would likely see gold return to the $1,500/oz mark.
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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