$GLD, $SLV, $USD, $USO, $OIL, $WEAT, $CORN, $SOY
FLASH: Gold Off, USD Up, Crude Oil Down, Stocks Down
Notes: Gold is now more than 5% below its late-February 2019 high at $1,346.73 oz.
Investors await the release of the Fed’s mins at 1800 GMT, which is expected to provide insights into the 1 May meeting by the FOMC, when policymakers kept interest rates steady and signaled little appetite to adjust them any time soon.
In Asia
Gold: Gold edged lower Wednesday to near a 2-week low, as a stronger USD and signs of easing US-China trade friction dampened demand for bullion ahead of the mins from Fed’s latest meeting.
- Spot gold edged down 0.1% to $1,274.10 oz at 0443 GMT,
- US gold futures were flat to Unchanged at $1,273.70 oz.
The USD hangs near a 4-week high supported by higher US yields, which rose overnight after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies Co Ltd.
A stronger USD and Washington’s extension to Huawei for 3 months has put the knife into gold.
Energy: Crude Oil prices fell Wednesday after industry data showed an increase in US Crude Oil inventories and as Saudi Arabia pledged to keep markets balanced.
- ICE Brent Crude Oil futures -36c, or 0.5%, at $71.82 bbll by 0414 GMT,
- NYMEX WTI Crude Oil futures for July delivery -49c, or 0.8%, at $62.64.
The American Petroleum Institute (API) said Tuesday that US Crude Oil stockpiles rose by 2.4-M bbl last week, to 480.2-M bbl, compared with analysts’ expectations for a decrease of 599,000 bbl
Official data from the U.S Energy Information Administration’s oil stockpiles report is due later Wednesday.
Equities: Asian stocks shaky Wednesday, as earlier relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies failed to offset deeper worries about trade frictions between the world’s 2 largest economies.
The Shanghai Composite Index was last down 0.1%.
Australian stocks gave up 0.1% and SKorea’s KOSPI fell 0.2%. Japan’s Nikkei edged up 0.3%.
MSCI’s broadest index of Asia-Pacific shares sans Japan moved in and out of the Red and last stood little changed.
Currencies: USD traded at 110.570 JPY after popping up to a 2-week high at 110.675 against the safe-haven JPY overnight as US Treasury yields rose in the wake of gains by Wall Street shares.
EUR was little changed at $1.1165 after brushing a 2.5 week low of $1.1142.
GBP was steady at $1.2710, it had had sunk to a 4-month low of $1.2685 Tuesday on BREXIT worries but bounced back after British Prime Minister Theresa May proposed a “new” BREXIT deal.
AUD, sensitive to shifts in risk sentiment, inched down 0.05% to $0.6882. The currency had suffered losses the previous day when Australia’s central bank governor said interest rates might be cut as soon as next month.
Commodities (quotes): Energy, Metals, and Agriculture Grains.
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| NYMEX Crude Oil » | 62.56 USD | -0.57 | -0.91% | Jun 19 | 12:51AM EDT |
| ICE Brent Crude » | 71.73 USD | -0.45 | -0.63% | May 19 | 12:49AM EDT |
| NYMEX RBOB Gasoline » | 2.01 USD | -0.01 | -0.48% | May 19 | 12:35AM EDT |
| Dubai Crude Spot » | 70.32 USD | -0.47 | -0.67% | Dec 02 | 1:01AM EDT |
| ICE Gas Oil » | 641.50 USD | -3.50 | -0.55% | Jun 19 | 12:49AM EDT |
| NYMEX No2 Heating Oil » | 2.07 USD | -0.01 | -0.45% | May 19 | 11:57PM EDT |
| NYMEX Nat Gas » | 2.62 USD | +0.01 | +0.27% | May 19 | 12:51AM EDT |
| ICE NBP Nat Gas » | 30.15 GBP | +0.00 | 0.00% | May 19 | 11:59AM EDT |
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| Gold Spot » | 1,273.62USD | -1.10 | -0.09% | Dec 02 | 12:58AM EDT |
| COMEX 100oz Gold » | 1,272.00USD | +0.00 | 0.00% | May 19 | 7:01PM EDT |
| Silver Spot » | 14.44USD | -0.00 | -0.02% | Dec 02 | 12:58AM EDT |
| Platinum Spot » | 806.79USD | -6.71 | -0.83% | Dec 02 | 12:58AM EDT |
| Palladium Spot » | 1,316.92USD | -2.58 | -0.20% | Dec 02 | 12:58AM EDT |
| COMEX Copper » | 2.72USD | +0.00 | 0.00% | May 19 | 7:01PM EDT |
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| CBOT Corn » | 394.50USC | +0.25 | +0.06% | Jul 19 | 12:54AM EDT |
| CBOT Wheat » | 479.25USC | +0.50 | +0.10% | Jul 19 | 12:54AM EDT |
| KCBT Wheat » | 438.75USC | +2.75 | +0.63% | Jul 19 | 12:52AM EDT |
| MGE Spring Wheat » | 547.00USC | +4.00 | +0.73% | Jul 19 | 12:47AM EDT |
| Euronext Milling Wheat » | 176.25EUR | +0.00 | 0.00% | Sep 19 | 12:29PM EDT |
| CBOT Soybean » | 828.25USC | +6.25 | +0.75% | Jul 19 | 12:53AM EDT |
Stay tuned…