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

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

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

Headlines

  • JPY holds gains, traders seek safety
  • Crude Oil prices steady after big fall on recession concerns, inventory rise
  • Stocks feel pain, as bond markets talk recession
  • Gold gains as recession fears drive safe-haven demand

Gold: Gold prices rose Thursday, as investors flocked to safer havens after an inverted US bond yield curve pointed to new recession fears following poor economic data from Germany and China.

  • Spot gold was up 0.2% at $1,519.51 oz as of 0522 GMT,
  • US gold futures gained 0.2% to $1,530.50 oz.

We are seeing flight to safety, market confidence is shaky, the economy is showing signs of weakness and it’s starting to slow in 2-H of this year.

A successful breakout at $1,525 oz will see gold Bulls make an attempt on previous highs at $1,535.

Energy: Crude Oil prices steadied Thursday, following sharp overnight losses as US inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed.

  • ICE Brent Crude LCOc1 was down 13c, or 0.2%, at $59.35 bbl by 0643 GMT,
  • NYMEX WTI Crude Oil CLc1 was up 5c or 0.1%, at $55.28 bbl.

Crude Oil prices, though supported by OPEC-led production curbs face severe headwinds as traders swing between demand-side worries and supply curtailment policies

Equities: Asian stocks extended a punishing sell-off Thursday as investors feared an historic drop in long-term US T-Bond yields might augur a recession globally.

MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS dropped 0.7% and tapped a 7-month low.

Japan’s Nikkei average .N225 was off 1.3%, while China’s benchmark Shanghai Composite .SSEC lost 0.4% and Hong Kong’s Hang Seng .HSI wa flat on the day.

The major US stock indexes fell about 3% Wednesday, with the blue-chip DJIA posting its biggest 1-day point fall since October 2018.

Currencies: JPY held gains against major currencies Thursday as sliding US Treasury yields fanned fears of a global economic downturn and drove investors into safe-haven assets.

USD was little changed at 105.90 JPY in Asian trading Thursday. On Wednesday, the JPY rallied 0.8% versus the Buck, its biggest daily gainer in 2 weeks.

.DXY, stood at 97.914 after a 0.2% gainer Wednesday.

The Swiss franc CHF=EBS last traded at 0.9735, holding on to a 0.3% gainer posted Wednesday.

GBP was little changed at $1.2069. The GBP has been in a tight trading range recently due to lingering uncertainties about whether Britain will exit the EU without transitional trading agreements.

The Aussie AUD=D3 rose 0.5% to $0.6786 after data showed the Australian economy added a forecast-busting 41,100 new jobs in July.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,512.70USD-3.38-0.22%Dec 023:09AM EDT
COMEX 100oz Gold »1,519.80USD+3.90+0.26%Aug 1912:02AM EDT
Silver Spot »17.16USD-0.04-0.24%Dec 023:09AM EDT
Platinum Spot »843.77USD+3.27+0.39%Dec 023:09AM EDT
Palladium Spot »1,435.59USD+11.59+0.81%Dec 023:09AM EDT
COMEX Copper »2.59USD+0.000.00%Aug 194:40PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.23USD+0.000.00%Aug 193:06AM EDT
ICE Brent Crude »59.32USD-0.16-0.27%Aug 193:05AM EDT
NYMEX RBOB Gasoline »1.67USD-0.00-0.29%Aug 193:06AM EDT
Dubai Crude Spot »58.19USD+0.28+0.48%Dec 023:16AM EDT
ICE Gas Oil »568.00USD+7.00+1.23%Sep 193:06AM EDT
NYMEX No2 Heating Oil »1.84USD-0.00-0.10%Aug 193:06AM EDT
NYMEX Nat Gas »2.17USD+0.02+1.06%Aug 193:05AM EDT
ICE NBP Nat Gas »31.52GBP-0.12-0.38%Aug 193:06AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »363.25USC+4.25+1.17%Sep 193:06AM EDT
CBOT Wheat »476.50USC+2.75+0.58%Sep 193:06AM EDT
KCBT Wheat »389.00USC+4.25+1.09%Sep 193:06AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »166.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»870.25USC+4.75+0.55%Sep 193:06AM EDT

Stay tuned…

#Asia#China#Corn#Crude Oil#energy#Fed#GLD#Gold#grains#oil#riculture#SLV#SOY#stocks