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

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

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

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

Notes: President Trump will meet Chinese President Xi on the sideline of G-20 leaders’ meeting late this month to seek compromise on trade and other economic issues.

In Asia

Gold: Gold held steady Tuesday after posting its biggest 1-day percentage fall in 2 months in Monday’s session, as Washington’s fresh trade threats against China eclipsed investor optimism spurred by a US-Mexico deal.

  • Spot gold was up 0.1% at $1,328.78 oz, as of 0356 GMT,
  • US gold futures rose 0.2% to $1,332.30 oz.

Gold lost more than 1% in the prior session to an intra-day low of $1,324.50 after markets took heart from a deal between the US and Mexico to avert the threatened tariff war last Friday.

Energy: Crude Oil prices stabilized Tuesday on expectations that OPEC and its allies will keep withholding supply to prevent prices from tumbling amid a broad economic slowdown which has started eating away at fuel demand growth.

  • Front-month ICE Brent Crude Oil futures were at $62.36 at 0023 GMT, +7c, or 0.1%, above Friday’s close.
  • NYMEX WTI Crude futures were at $53.42 bbl, +16c, or 0.3%, above Monday’s settlement.

Equities: Asian stocks, led by Chinese shares, gained Tuesday as markets basked in relief following the US decision to hold off from imposing import tariffs on Mexico as the 2 governments agreed a deal to combat illegal migration from Central America.

MSCI’s broadest index of Asia-Pacific shares sans Japan gained 0.65%.

The Shanghai Composite Index climbed 1.7% after China said Monday that it will allow local governments to use proceeds from special bonds as capital for major investment projects in a bid to support the slowing economy.

Australian stocks rose 1.3%, SKorea’s KOSPI added 0.3% and Japan’s Nikkei edged up 0.35%.

US stocks extended their recent climb Monday, with the DJIA rising for the 6th trading day running.

Currencies: USD extended gains it made against its peers in the wake of Friday’s agreement between the United States and Mexico.

.DXY Vs a basket of 6 peer currencies was a bit higher at 96.800 after advancing 0.2% Monday.

USD was up 0.15% at 108.625 JPY and the EUR was steady at $1.1314 following a loss of 0.2% the prior day.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.72 USD+0.46+0.86%Jun 191:44AM EDT
ICE Brent Crude »62.60 USD+0.31+0.50%Jun 191:43AM EDT
NYMEX RBOB Gasoline »1.75 USD+0.02+1.32%Jun 191:44AM EDT
Dubai Crude Spot »60.74 USD+0.43+0.71%Dec 021:54AM EDT
ICE Gas Oil »557.25 USD-2.00-0.36%Jun 191:41AM EDT
NYMEX No2 Heating Oil »1.82 USD+0.01+0.56%Jun 191:41AM EDT
NYMEX Nat Gas »2.37 USD+0.01+0.46%Jun 191:44AM EDT
ICE NBP Nat Gas »29.71 GBP+0.000.00%Jun 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,328.10USD+0.37+0.03%Dec 021:58AM EDT
COMEX 100oz Gold »1,327.60USD+2.90+0.22%Jun 191:27AM EDT
Silver Spot »14.67USD+0.01+0.07%Dec 021:58AM EDT
Platinum Spot »802.68USD+0.68+0.08%Dec 021:58AM EDT
Palladium Spot »1,377.00USD-5.00-0.36%Dec 021:58AM EDT
COMEX Copper »2.66USD+0.000.00%Jun 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »413.75USC-2.00-0.48%Jul 191:50AM EDT
CBOT Wheat »503.25USC-4.25-0.84%Jul 191:53AM EDT
KCBT Wheat »445.50USC-7.50-1.68%Jul 191:52AM EDT
MGE Spring Wheat »565.00USC-3.50-0.62%Jul 191:45AM EDT
Euronext Milling Wheat »177.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »853.50USC-5.00-0.59%Jul 191:53AM 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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