Commodities Daily - September 6, 2019
> Bullish EIA report unable to keep oil at intraday highs; US nonfarm payrolls and Powell speech eyed. Today, investors will mainly eye the US monthly employment report at 15:30 Moscow time (specifically, the nonfarm payrolls data), as well as Jerome Powell's speech at an event in Zurich at around 19:30 Moscow time. We expect the payrolls data to be upbeat and for the Fed chairman to essentially repeat what he said at Jackson Hole last month. This is likely to support appetite for risk assets today, which, coupled with yesterday's upbeat fundamental oil market data, could create help push Brent prices back to $62/bbl.> Gold sinks amid strong US macro data. Yesterday morning, reports of more talks between the US and China and the announcement of a program to support the Chinese economy dented demand for defensive assets. However, gold dropped sharply in the afternoon following the publication of better than expected ADP labor market data and the ISM non-manufacturing index in the US. Today, gold is trading at $1,510/oz ahead of further US labor market data and a speech by Jerome Powell in Zurich.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.