Commodities Daily - September 11, 2018
Oil prices steady amid US-Saudi energy talks; monthly EIA report and Hurricane Florence eyed. We do not expect the EIA release to rattle the market, as major revisions to key demand and supply forecasts were made last month. This morning, Brent is pushing toward the $78/bbl mark on a weaker dollar, though we expect the rally to ease later in the day. In addition, we think the API data later on will be negative. We see Brent remaining within the $77-78/bbl range today.Gold prices stable amid dollar weakness as fears over US-China trade war intensify. Our FX analysts expect EUR/USD to head to 1.165 today. However, we do not believe that gold will be able to muster up enough positive momentum to break above $1,200/oz and expect it to remain in the $1,195-1,200/oz range.
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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