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


FLASH: Gold Off, USD Steady, Crude Oil Up, Stocks Mixed

Notes: Global stocks will continue their drive North, but an escalation of the US-China trade dispute poses the biggest risk, Reuters polls of over 200 equity strategists, analysts and fund managers from around the world found.

In Asia

Gold: Gold prices off Thursday as bonds rallied and USD hangs near 2 year highs, offsetting the support from the US-China trade dispute that rekindled doubts about global economic growth.

  • Spot gold was -0.2% to $1,277.29 oz, as of 0536 GMT,
  • US gold futures -0.4% to $1,276.30 oz.

Investors look like they prefer US Treasuries as a safe haven for now, evident by the inverted yield curve.

Energy: Crude Oil prices rose Thursday after a bigger-than-expected decline in US inventories, although the notion that the US-China trade dispute will trigger an economic downturn kept a lid on gains.

  • ICE Brent Crude Oil futures were at $69.71 bbl at 0502 GMT, +26c, or 0.4% from Wednesday’s close,
  • NYMEX WTI Crude Oil futures +40c, or 0.7%, at $59.21 bbl.

US Crude Oil inventories fell by 5.3-M bbl in the week to 24 May to 474.4-M bbl, data from industry group, the American Petroleum Institute (API), showed on Wednesday.

Official data from the Energy Information Administration (EIA) is due on Thursday at 1500 GMT.

Equities: Asian stocks tracked Wall Street losses Thursday as latest exchanges between Beijing and Washington signaled the heightened risk of a prolonged trade dispute.

The Shanghai Composite Index fell 0.7% and Hong Kong’s Hang Seng lost 0.4%.

Japan’s Nikkei was down 0.5% and Australian stocks shed 0.85%.

MSCI’s broadest index of Asia-Pacific shares sans Japan slipped to a 4-month low before finding traction to edge up 0.1%

Currencies: Vs a basket of 6 peer currencies, .DXY was steady at 98.147, the index is up more than 2% YTD.

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

NYMEX Crude Oil »59.31 USD+0.50+0.84%Jun 192:09AM EDT
ICE Brent Crude »69.84 USD+0.39+0.56%May 192:08AM EDT
NYMEX RBOB Gasoline »1.95 USD+0.000.00%May 191:58AM EDT
Dubai Crude Spot »67.44 USD+0.01+0.01%Dec 022:19AM EDT
ICE Gas Oil »610.50 USD+4.75+0.78%Jun 192:07AM EDT
NYMEX No2 Heating Oil »1.97 USD+0.00+0.23%May 1911:52PM EDT
NYMEX Nat Gas »2.61 USD-0.01-0.54%Jun 192:09AM EDT
ICE NBP Nat Gas »29.93 GBP+0.000.00%May 1911:51AM EDT
Gold Spot »1,277.46USD-1.74-0.14%Dec 022:18AM EDT
COMEX 100oz Gold »1,276.00USD-5.00-0.39%Jun 192:14AM EDT
Silver Spot »14.39USD-0.02-0.16%Dec 022:18AM EDT
Platinum Spot »793.97USD+2.47+0.31%Dec 022:18AM EDT
Palladium Spot »1,338.95USD-10.55-0.79%Dec 022:18AM EDT
COMEX Copper »2.67USD-0.00-0.04%Jun 1911:15PM EDT
CBOT Corn »415.50USC-3.25-0.78%Jul 192:15AM EDT
CBOT Wheat »488.00USC-2.50-0.51%Jul 192:15AM EDT
KCBT Wheat »449.75USC-3.50-0.78%Jul 192:05AM EDT
MGE Spring Wheat »551.25USC+2.50+0.45%Jul 192:08AM EDT
Euronext Milling Wheat »184.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »867.75USC-4.25-0.49%Jul 192:14AM EDT

Stay tuned…