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 Off, USD Steady, Crude Oil Up, Stocks Mixed

Notes: Global stocks will continue their drive North, but an escalation of the US-China trade dispute poses the biggest risk, Reuters polls of over 200 equity strategists, analysts and fund managers from around the world found.

In Asia

Gold: Gold prices off Thursday as bonds rallied and USD hangs near 2 year highs, offsetting the support from the US-China trade dispute that rekindled doubts about global economic growth.

  • Spot gold was -0.2% to $1,277.29 oz, as of 0536 GMT,
  • US gold futures -0.4% to $1,276.30 oz.

Investors look like they prefer US Treasuries as a safe haven for now, evident by the inverted yield curve.

Energy: Crude Oil prices rose Thursday after a bigger-than-expected decline in US inventories, although the notion that the US-China trade dispute will trigger an economic downturn kept a lid on gains.

  • ICE Brent Crude Oil futures were at $69.71 bbl at 0502 GMT, +26c, or 0.4% from Wednesday’s close,
  • NYMEX WTI Crude Oil futures +40c, or 0.7%, at $59.21 bbl.

US Crude Oil inventories fell by 5.3-M bbl in the week to 24 May to 474.4-M bbl, data from industry group, the American Petroleum Institute (API), showed on Wednesday.

Official data from the Energy Information Administration (EIA) is due on Thursday at 1500 GMT.

Equities: Asian stocks tracked Wall Street losses Thursday as latest exchanges between Beijing and Washington signaled the heightened risk of a prolonged trade dispute.

The Shanghai Composite Index fell 0.7% and Hong Kong’s Hang Seng lost 0.4%.

Japan’s Nikkei was down 0.5% and Australian stocks shed 0.85%.

MSCI’s broadest index of Asia-Pacific shares sans Japan slipped to a 4-month low before finding traction to edge up 0.1%

Currencies: Vs a basket of 6 peer currencies, .DXY was steady at 98.147, the index is up more than 2% YTD.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »59.31 USD+0.50+0.84%Jun 192:09AM EDT
ICE Brent Crude »69.84 USD+0.39+0.56%May 192:08AM EDT
NYMEX RBOB Gasoline »1.95 USD+0.000.00%May 191:58AM EDT
Dubai Crude Spot »67.44 USD+0.01+0.01%Dec 022:19AM EDT
ICE Gas Oil »610.50 USD+4.75+0.78%Jun 192:07AM EDT
NYMEX No2 Heating Oil »1.97 USD+0.00+0.23%May 1911:52PM EDT
NYMEX Nat Gas »2.61 USD-0.01-0.54%Jun 192:09AM EDT
ICE NBP Nat Gas »29.93 GBP+0.000.00%May 1911:51AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,277.46USD-1.74-0.14%Dec 022:18AM EDT
COMEX 100oz Gold »1,276.00USD-5.00-0.39%Jun 192:14AM EDT
Silver Spot »14.39USD-0.02-0.16%Dec 022:18AM EDT
Platinum Spot »793.97USD+2.47+0.31%Dec 022:18AM EDT
Palladium Spot »1,338.95USD-10.55-0.79%Dec 022:18AM EDT
COMEX Copper »2.67USD-0.00-0.04%Jun 1911:15PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »415.50USC-3.25-0.78%Jul 192:15AM EDT
CBOT Wheat »488.00USC-2.50-0.51%Jul 192:15AM EDT
KCBT Wheat »449.75USC-3.50-0.78%Jul 192:05AM EDT
MGE Spring Wheat »551.25USC+2.50+0.45%Jul 192:08AM EDT
Euronext Milling Wheat »184.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »867.75USC-4.25-0.49%Jul 192:14AM 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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