Commodities Daily - September 20, 2019
> Oil up as investors reassess the scale of Saudi output losses. Today's oil market agenda is almost empty, with the Baker Hughes rig count being the only real highlight. Following yesterday's gain, we are skeptical that Brent can firmly secure above $65/bbl today, and see it trading sideways within the prevailing $64-65/bbl range.> Gold back on the rise this morning amid a strengthening euro. Yesterday, EC head Jean-Claude Juncker indicated that a Brexit deal was still possible. Meanwhile, the BoE, SNB and BoJ all left rates unchanged, a day after the Fed offered up some more hawkish than anticipated rhetoric. Yesterday's jobs and housing data from the US was encouraging to investors. Today, Dallas Fed President Robert Kaplan is slated to speak at 20:00 Moscow time. We expect gold to continue trading sideways near 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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