Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs

Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs

$XAU, $GLD, $USD, $USO, $OIL

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

Headlines

  • Asia shares slip on BREXIT snag
  • Crude Oil prices fell after data showed US stocks rose more than expected last week.
  • Gold holds steady, as technical buying gives support

Gold: Gold prices were largely unchanged Wednesday, as investors awaited more clarity on the BREXIT and the US-China trade dispute, while some technical buying provided modest support to bullion.

  • Spot gold was up 0.1% at $1,489.31 oz as of 0622 GMT,
  • US gold futures rose 0.3% to $1,492.40 oz.

Gold has been rising modestly on technical buying since it fell to the $1,470 mark

Energy: Crude Oil prices fell after industry group data showed US stocks rose more than expected last week.

On the whole the market held firm after China signalled progress in trade talks with the United States and OPEC and its allies consider deeper production cuts.

  • ICE Brent Crude Oil futures fell 0.52% to $59.39 bbl,
  • NYMEX WTI Crude Oil futures lost 0.81% to $54.04 bbl.

Equities: US stock futures and Asian shares slipped Wednesday as revenue warnings from Texas Instruments raised worries about the global tech sector and after British lawmakers forced the government to hit the pause button on the latest BREXIT deal

European shares are expected to fall, with pan-European Euro Stoxx 50 futures STXEc1 trading down 0.72%, German DAX futures FDXc1 losing 0.79% and FTSE futures FFIc1 off 0.23%.

S&P500 mini futures ESc1 dropped 0.2% while Japan’s Nikkei .N225 was up 0.1% after falling as much as 0.4%.

MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS fell 0.6%. Tuesday on Wall Street, the S&P 500 .SPX lost 0.36%.

Taiwan’s TSMC (2330.TW) fell 0.9% while SKorea’s SK Hynix (000660.KS) shed 1.6% and Japan’s Tokyo Electron (8035.T) slumped 4.3%.

Tuesday, the UK parliament voted in favor of Prime Minister Boris Johnson’s BREXIT plan, but then rejected his timetable to fast-track legislation to take Britain out of the EU. That effectively meant Britain would not be able to finalise its exit by his 31 October deadline.

Commodities and Currency Pairs (quotes)

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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