Commodities Daily - September 17, 2018
Oil holds steady amid looming US tariffs against Chinese goods and US sanctions against Iran. We expect Brent to dip to $77/bbl today in the event of new US tariffs against China. OPEC+ will also hold a joint technical committee conference call during which some strategic details could emerge ahead of the key OPEC+ ministerial committee meeting due to be held in Algeria on Sunday.Gold continues to flirt with $1,200/oz; US tariff developments in focus. Our FX team expects the dollar to be stronger globally today given the potential for trade war escalation and sees EUR/USD as likely to return below 1.16. In our view, gold could slide beneath $1,190/oz later in the day if the US decides to go ahead with the proposed tariffs on Chinese imports.
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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