Asia: Gold, USD, Crude Oil, Stocks & Commodities

Asia: Gold, USD, Crude Oil, Stocks & Commodities

$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD

FLASH: Gold Steady, USD Up, Crude Oil Steady, Stocks Flat

Note: Traders are also keenly waiting on the Fed’s Jackson Hole seminar and a G-7 Summit this weekend for clues on what additional steps policymakers will take to bolster growth.

Headlines

  • Crude Oil dips on economic concerns after US fuel stocks build
  • Asia shares quiet, await clarity on Fed policy
  • Gold steady, focus on Jackson Hole for rate-cut direction

Gold: Gold prices little changed Thursday, holding above the Key $1,500 oz mark, as investors awaited the Fed’s Powell speech at a global central bankers’ Summit for clues on future US interest rate cuts.

  • Spot gold down 0.1% to $1,500.14 oz by 0426 GMT,
  • US gold futures were down 0.4% at $1,510.10 oz.

We are in a ranged pattern until the remarks from Fed Chairman Powell at Jackson Hole give traders direction.

Energy: Crude Oil prices slipped Thursday weighed down by worries about the global economy and bigger-than-expected builds in petroleum product inventories in the United States, the world’s biggest Crude Oil consumer.

  • Brent Crude Oil futures LCOc1 -9c, or 0.2%, to $60.21 bbl by 0440 GMT Thursday,
  • WTI Crude Oil CLc1 futures were off 2c at $55.66 bbl.

Oil markets continue to move lower after the gloomy surprise build in US fuel inventories.

Equities: Asian shares flat Thursday as uncertainty over the outlook for both US interest rates and the chance of global fiscal stimulus stopped the volatile market action.

MSCI’s broadest index of Asia-Pacific shares sand Japan off 0.2% in very light volumes.

Japan’s Nikkei added 0.1%, as did Shanghai blue chips. E-Mini futures for the S&P 500 dipped 0.04%, while EUROSTOXX 50 futures eased 0.09%.

The DJIA ended Wednesday up 0.93%, while the S&P 500 rose 0.82% and the NA Comp 0.90%.

Currencies: The USD bounced overnight, and was last at 98.247 Vs a basket of 6 peer currencies from a low of 97.948. It also reached 106.50 JPY from Wednesday’s low of 106.21.

The EUR edged back to $1.1089 from a top of $1.1107, not helped by a dim economic outlook from Germany’s finance ministry

Commodities (quotes): Metals, Energy, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,501.15USD-0.85-0.06%Dec 022:20AM EDT
COMEX 100oz Gold »1,504.60USD+0.000.00%Aug 197:01PM EDT
Silver Spot »17.03USD-0.08-0.47%Dec 022:09AM EDT
Platinum Spot »845.65USD-7.10-0.84%Dec 022:09AM EDT
Palladium Spot »1,458.49USD-12.91-0.89%Dec 022:09AM EDT
COMEX Copper »2.58USD+0.000.00%Aug 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.57USD-0.11-0.20%Sep 192:09AM EDT
ICE Brent Crude »60.12USD-0.18-0.30%Aug 192:09AM EDT
NYMEX RBOB Gasoline »1.69USD-0.01-0.33%Aug 192:01AM EDT
Dubai Crude Spot »59.87USD-0.40-0.67%Dec 022:20AM EDT
ICE Gas Oil »567.50USD-4.50-0.79%Sep 192:07AM EDT
NYMEX No2 Heating Oil »1.85USD-0.01-0.47%Aug 191:50AM EDT
NYMEX Nat Gas »2.17USD-0.00-0.09%Aug 192:10AM EDT
ICE NBP Nat Gas »32.01GBP+0.000.00%Aug 1911:58AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »363.75USC+1.25+0.34%Sep 192:06AM EDT
CBOT Wheat »463.00USC+0.50+0.11%Sep 192:09AM EDT
KCBT Wheat »388.75USC+2.50+0.64%Sep 192:00AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »165.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »861.25USC+0.75+0.09%Sep 191:48AM EDT

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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