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


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

Notes: President Trump will meet Chinese President Xi on the sideline of G-20 leaders’ meeting late this month to seek compromise on trade and other economic issues.

In Asia

Gold: Gold held steady Tuesday after posting its biggest 1-day percentage fall in 2 months in Monday’s session, as Washington’s fresh trade threats against China eclipsed investor optimism spurred by a US-Mexico deal.

  • Spot gold was up 0.1% at $1,328.78 oz, as of 0356 GMT,
  • US gold futures rose 0.2% to $1,332.30 oz.

Gold lost more than 1% in the prior session to an intra-day low of $1,324.50 after markets took heart from a deal between the US and Mexico to avert the threatened tariff war last Friday.

Energy: Crude Oil prices stabilized Tuesday on expectations that OPEC and its allies will keep withholding supply to prevent prices from tumbling amid a broad economic slowdown which has started eating away at fuel demand growth.

  • Front-month ICE Brent Crude Oil futures were at $62.36 at 0023 GMT, +7c, or 0.1%, above Friday’s close.
  • NYMEX WTI Crude futures were at $53.42 bbl, +16c, or 0.3%, above Monday’s settlement.

Equities: Asian stocks, led by Chinese shares, gained Tuesday as markets basked in relief following the US decision to hold off from imposing import tariffs on Mexico as the 2 governments agreed a deal to combat illegal migration from Central America.

MSCI’s broadest index of Asia-Pacific shares sans Japan gained 0.65%.

The Shanghai Composite Index climbed 1.7% after China said Monday that it will allow local governments to use proceeds from special bonds as capital for major investment projects in a bid to support the slowing economy.

Australian stocks rose 1.3%, SKorea’s KOSPI added 0.3% and Japan’s Nikkei edged up 0.35%.

US stocks extended their recent climb Monday, with the DJIA rising for the 6th trading day running.

Currencies: USD extended gains it made against its peers in the wake of Friday’s agreement between the United States and Mexico.

.DXY Vs a basket of 6 peer currencies was a bit higher at 96.800 after advancing 0.2% Monday.

USD was up 0.15% at 108.625 JPY and the EUR was steady at $1.1314 following a loss of 0.2% the prior day.

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

NYMEX Crude Oil »53.72 USD+0.46+0.86%Jun 191:44AM EDT
ICE Brent Crude »62.60 USD+0.31+0.50%Jun 191:43AM EDT
NYMEX RBOB Gasoline »1.75 USD+0.02+1.32%Jun 191:44AM EDT
Dubai Crude Spot »60.74 USD+0.43+0.71%Dec 021:54AM EDT
ICE Gas Oil »557.25 USD-2.00-0.36%Jun 191:41AM EDT
NYMEX No2 Heating Oil »1.82 USD+0.01+0.56%Jun 191:41AM EDT
NYMEX Nat Gas »2.37 USD+0.01+0.46%Jun 191:44AM EDT
ICE NBP Nat Gas »29.71 GBP+0.000.00%Jun 197:00PM EDT
Gold Spot »1,328.10USD+0.37+0.03%Dec 021:58AM EDT
COMEX 100oz Gold »1,327.60USD+2.90+0.22%Jun 191:27AM EDT
Silver Spot »14.67USD+0.01+0.07%Dec 021:58AM EDT
Platinum Spot »802.68USD+0.68+0.08%Dec 021:58AM EDT
Palladium Spot »1,377.00USD-5.00-0.36%Dec 021:58AM EDT
COMEX Copper »2.66USD+0.000.00%Jun 197:01PM EDT
CBOT Corn »413.75USC-2.00-0.48%Jul 191:50AM EDT
CBOT Wheat »503.25USC-4.25-0.84%Jul 191:53AM EDT
KCBT Wheat »445.50USC-7.50-1.68%Jul 191:52AM EDT
MGE Spring Wheat »565.00USC-3.50-0.62%Jul 191:45AM EDT
Euronext Milling Wheat »177.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »853.50USC-5.00-0.59%Jul 191:53AM EDT

Stay tuned…