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

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

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

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

Notes: US markets turned hot and fast late Tuesday with high volume trade across the board after coming off the holiday weekend.

Asia, focus remains on the ongoing US-China trade dispute. President Trump said Monday that Washington was not ready to make a deal with China yet. At the same time, he pressed Japan to reduce its trade imbalance with the United States.

In Asia

Gold: Gold held steady Wednesday as worries about the global economic outlook kept investors focused on safe-haven assets, with no signs of an easing in the US-China trade dispute.

  • Spot gold Unchanged at $1,279.12 oz, as of 0123 GMT,
  • US gold futures were + 0.2% at $1,279.70 oz.

Last year, USD overtook gold as the preferred safe-haven when the United States and China engaged in a full-blown trade dispute.

Energy: Crude Oil prices fell Wednesday on concerns the US-China trade dispute could trigger a global economic downturn, but relatively tight supply and OPEC output cuts and political tensions in the Middle East offered some support.

  • Front-month ICE Brent Crude Oil futures were $69.60 bbl at 0332 GMT, -51c, or 0.7%, from Tuesday’s London close,
  • NYMEX WTI Crude Oil futures were at $58.50 bbl, -64c, or 1.1%, from Tuesday’s NY settlement.

Crude Oil was weak … primarily as the Bears on demand are winning compared to the Bulls on supply.

Equities: Asian shares fell Wednesday, as bonds rallied on investor sentiment over worries about world growth with trade tensions between Washington and Beijing showing no signs of easing.

MSCI’s broadest index of Asia-Pacific shares sans Japan slipped 0.5% after 3 straight days of gainers. Chinese shares started lower with the blue-chip CSI300 off 0.5%. Australian shares were 0.8% lower, while Japan’s Nikkei faltered 1.4%.

In an indication US markets will fall again on Wednesday, E-Minis for the S&P 500 were – 0.4%.

Currencies: Activity was muted; .DXY flat at 97.937, and still above a recent 2 -week low of 97.547. EUR also unchanged at $.1.1162 after 2 straight days of falls, while GBP held at $1.2656.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »58.55 USD-0.59-1.01%Jun 191:40AM EDT
ICE Brent Crude »69.61 USD-0.50-0.72%May 191:38AM EDT
NYMEX RBOB Gasoline »1.94 USD-0.01-0.77%May 191:28AM EDT
Dubai Crude Spot »67.27 USD-0.37-0.55%Dec 021:50AM EDT
ICE Gas Oil »614.50 USD-4.25-0.69%Jun 191:40AM EDT
NYMEX No2 Heating Oil »1.98 USD-0.01-0.63%May 1911:26PM EDT
NYMEX Nat Gas »2.59 USD+0.00+0.15%May 191:37AM EDT
ICE NBP Nat Gas »30.42 GBP+0.000.00%May 1911:58AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,280.78USD+1.72+0.13%Dec 021:48AM EDT
COMEX 100oz Gold »1,276.50USD+0.000.00%May 192:31PM EDT
Silver Spot »14.38USD+0.04+0.27%Dec 021:48AM EDT
Platinum Spot »798.11USD+2.61+0.33%Dec 021:48AM EDT
Palladium Spot »1,344.25USD+7.75+0.58%Dec 021:48AM EDT
COMEX Copper »2.70USD-0.00-0.11%May 198:39PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »433.25USC+13.00+3.00%Jul 191:48AM EDT
CBOT Wheat »518.75USC+14.00+2.70%Jul 191:47AM EDT
KCBT Wheat »477.50USC+16.75+3.51%Jul 191:48AM EDT
MGE Spring Wheat »565.00USC+7.50+1.33%Jul 191:15AM EDT
Euronext Milling Wheat »184.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »884.25USC+28.25+3.19%Jul 191:47AM EDT

Stay tuned…

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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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