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

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


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


  • Crude Oil prices up after bigger-than-expected fall in Us stockpiles
  • Rising bond yields support value stocks ahead of central bank meetings
  • Gold prices snap 4-day losing streak and focus on ECB meet
  • USD steady as traders await Thursday’s ECB meeting

Gold: Gold prices up Wednesday, snapping a 4-day losing streak on technical buying, amid expectations that the ECB will stimululate and cut interest rates.

  • Spot gold was up 0.5% at $1,493.50 oz, as of 0611 GMT,
  • US gold futures were up 0.2% at $1,502.2 oz.

The ECB is expected to reduce further the interest rate into negative territory. The meeting could serve as a potential catalyst for gold and investors are already buying into the rate cut expectations, buying the dip.

Energy: Crude Oil prices traded up Wednesday after an industry report said US stockpiles fell last week by more than 2X the amount that analysts in a Reuters poll had forecast.

  • ICE Brent Crude Oil futures + 51c, or 0.6%, to $62.89 bbl by 0405 GMT,
  • NYMEX WTI Crude Oil futures + 54c, or 0.9%, to $57.94 bbl.

Prices bounced after American Petroleum Institute (API) data late Tuesday showed US Crude Oil and gasoline stocks fell last week, while distillate stocks built

Equities: Bond yields climbed and stock markets held firm Wednesday, as hopes of easing US-China tensions and diminished risk of a no-deal BREXIT prompted buying of out-of-favor value stocks before Key central bank meetings.

MSCI’s broadest index of Asia-Pacific shares sans Japan rose 0.6% to hit a fresh 5.5-wk high.

Pan-European Euro Stoxx 50 futures gained 0.2% in late Asian trade, indicating that European cash share markets will open slightly higher Wednesday.

Stock investors around the world sustained their rotation into value stocks, representing a major reversal after many months of outperformance by growth shares such as tech companies.

Japan’s Nikkei average climbed 1.0%, with the Topix Value index jumping 2.2% and the Topix Growth adding 1.1%.

The Shanghai Composite and the blue-chip CSI300 were down 0.3% and 0.7%, respectively, and Hong Kong’s Hang Seng advanced 1.7%.

On Wall Street: the S&P 500 ended little changed as a rally in energy and industrial shares countered a drop in the technology and real-estate sectors with investors favoring value over growth. 

Currencies: USD steadied Wednesday as investors’ appetite for risk showed cautious improvement and the yen weakened in the shift away from safe havens, but currencies kept to tight ranges ahead of a series of major central bank meetings over the next week.

.DXY was steady at 98.332.

EUR edged higher to $1.1050, with bets divided on the likely scope and style of any stimulus.

GBP stood at $1.2356, near its 6-wk high of $1.2385 hit earlier in the week on the reduced chances for Britain to crash out of the EU without a divorce deal.

The Chinese RMB Yuan and AUD briefly jumped after the editor of Communist Party newspaper The Global Times Tweeted that China would introduce measures to mitigate the trade-war impact.

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

Gold Spot »1,492.41USD+6.91+0.46%Dec 022:28AM EDT
COMEX 100oz Gold »1,490.20USD-0.10-0.01%Sep 1910:08PM EDT
Silver Spot »18.19USD+0.18+0.98%Dec 022:38AM EDT
Platinum Spot »939.53USD+9.27+0.99%Dec 022:38AM EDT
Palladium Spot »1,568.57USD+7.60+0.48%Dec 022:28AM EDT
COMEX Copper »2.61USD+0.00+0.11%Sep 192:06AM EDT
NYMEX Crude Oil »57.84USD+0.44+0.76%Sep 192:30AM EDT
ICE Brent Crude »62.83USD+0.45+0.72%Sep 192:29AM EDT
NYMEX RBOB Gasoline »1.61USD+0.02+1.02%Sep 192:28AM EDT
Dubai Crude Spot »60.69USD-0.48-0.79%Dec 022:39AM EDT
ICE Gas Oil »595.00USD-5.75-0.97%Sep 192:15AM EDT
NYMEX No2 Heating Oil »1.94USD+0.01+0.57%Sep 192:29AM EDT
NYMEX Nat Gas »2.60USD+0.01+0.58%Sep 192:30AM EDT
ICE NBP Nat Gas »37.28GBP+0.000.00%Sep 1911:59AM EDT
CBOT Corn »349.75USC+1.25+0.36%Sep 1910:32PM EDT
CBOT Wheat »484.50USC+0.000.00%Sep 195:28PM EDT
KCBT Wheat »382.00USC+0.000.00%Sep 195:06PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »170.00EUR+0.000.00%Dec 1912:29PM EDT
CBOT Soybean»859.25USC+0.000.00%Sep 195:11PM EDT
USD »1.0000.0000.00%
EUR »0.9052-0.0003-0.03%2:49AM EDT
JPY »107.77000.2400+0.22%2:50AM EDT
GBP »0.8088-0.0009-0.11%2:54AM EDT
CHF »0.99210.0002+0.02%2:49AM EDT
AUD »1.4550-0.0021-0.14%2:49AM EDT
CAD »1.3146-0.0003-0.02%2:50AM EDT
CNY »7.1119-0.0002-0.00%2:49AM EDT
HKD »7.83980.0004+0.01%2:49AM EDT
MXN »19.49230.0023+0.01%2:50AM EDT
RUB »65.3748-0.0213-0.03%2:49AM EDT
SEK »9.6664-0.0175-0.18%2:50AM EDT

Stay tuned…

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