FLASH: Gold Off, USD Up, Crude Oil Up, Stocks Firm
- Crude Oil prices recover after output from US, Russia, OPEC fall
- Asian shares firm as investors stay hopeful on US-China disputes
- Gold fell to a 2 month low on the back of a strong Buck, last trading at $1,468.50 oz.
Gold: Gold fell to a 2-month low on the back of a strong USD, last trading at $1,468.50 oz.
Energy: Crude Oil prices bounced Tuesday on reports that production at the world’s largest producers fell during Q-3, although a resumption in Saudi supply and demand concerns continued to cap prices.
- Dec Brent Crude Oil futures +25c, or 0.42% at $59.50 bbl by 0657 GMT,
- Nov WTI Crude Oil also + 25c, or 0.46%, at $54.32 a bbl.
Front-month prices for both contracts posted their largest Quarterly falls this year Monday, hurt by a slowdown in global economic growth amid the US-China trade dispute.
Equities: Asian share prices up Tuesday as some investors clung to hopes that Q-4 will bring progress in resolving the United-States trade dispute that has cast a pall over the global economy.
MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS inched up 0.23%, while Japan’s Nikkei .N225 rose 0.6% and Australia’s benchmark by 0.8%, some of that coming after the central bank cut rates for a 3rd time this year.
Starting on Tuesday, Chinese markets are shut for a week to mark 70 years since the founding of the People’s Republic of China. Markets will be quiet.
Commodities and Currency Pairs (quotes)
Now you can go to Market Data on the right side of our home page for quotes on the world’s financial markets, commodities and currencies.