Commodities Daily - September 2, 2019
> Oil declines amid OPEC+ production increases and stronger dollar, despite bullish US data. Today we think Brent is likely to keep trading within the current $59-60/bbl range and is unlikely to break above $60/bbl as investors now fear that Hurricane Dorian is set to dampen demand (and not supply), as it is now on its way to Florida and not the Gulf Coast of Mexico.> Gold inches lower on stronger dollar, but investors prove unwilling to give up safe-haven exposure. This morning, gold is hovering just above $1,520/oz and is likely to stick near this level as US markets are closed and trading is set to be calm. On Wednesday, speeches by various Fed voters could provide a steer for a possible rate cut this month, which would provide a tailwind for gold. Possible downside for gold could come from a reduction in trade tensions, with China's Foreign Ministry on Friday asserting that the two sides remain in effective communication.
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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