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

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

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

In Asia

Notes: A report Thursday saying that Washington was considering lifting some or all tariffs imposed on Chinese imports buoyed financial markets, including Crude Oil.

The Federal Open Markets Committee (FOMC) will hold the next policy-setting meeting on 29-30 January.

Gold: Spot gold was set for its 5th straight weekly gainer, and supported by expectations that the Fed may not raise interest rates this year on worries about economy and uncertainties around BREXIT.

  • Spot gold was steady at $1,291.66 oz
  • US gold futures were down 0.1% at $1,291.30 oz.

The risk perception has stabilized some and that took away some support for gold.

Energy: Crude Oil prices rose Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.

  • NYMEX WTI Crude Oil futures were at $52.62 bbl at 0339 GMT, +55c, or 1.1%, from their last settlement.
  • ICE Brent Crude Oil futures were up 54c, or 0.9%, at $61.72 bbl.

OPEC, and some other producers including Russia, cut output sharply in December before a new accord to limit supply took effect on 1 January, it said Thursday, suggesting that producers have made a strong start to averting a glut in Y 2019 as a slowing economy curbs demand.

OPEC said in its monthly report that its Crude Oil output fell by 751,000 BPD in December to 31.58-M BPD, the biggest M-M drop in almost 2 years.

OPEC also cut its forecast for average daily demand for its Crude in Y 2019 to 30.83-M bbl, down 910,000 BPD from the Y 2018 average.

Equities: Asian stocks rose across the board Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.

Spreadbetters expected European stocks to take their cue from Asia, with Britain’s FTSE .FTSE seen rising 0.45%, while Germany’s DAX .GDAXI and France’s CAC .FCHI were tipped to each gain 0.5%.

The Shanghai Composite Index .SSEC was up 1%.

Australian stocks rose 0.5% SKorea’s KOSPI .KS11 advanced 0.6%,while Japan’s Nikkei .N225 gained more than 1% to a 1-month high.

Currencies: The US saw some support after US Treasury yields rose amid the improvement in risk appetite in the broader markets.

The Buck was a shade higher at 109.390 JPY after spiking up to a 2-week high of 109.44. USD gained about 0.7% against the Japanese currency this week.

EUR was little changed at $1.1390 after dipping slightly overnight. The single currency was on track for a weekly loss of 0.7%.

Commodities: Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »52.60 USD+0.53+1.01%Jan 192:16AM EST
ICE Brent Crude »61.78 USD+0.60+0.97%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.44 USD+0.01+0.59%Jan 192:12AM EST
Dubai Crude Spot »60.89 USD+0.47+0.77%Dec 022:26AM EST
ICE Gas Oil »569.50 USD+6.25+1.10%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.89 USD+0.01+0.54%Jan 192:16AM EST
NYMEX Nat Gas »3.37 USD-0.04-1.31%Jan 192:17AM EST
ICE NBP Nat Gas »62.97 GBP+0.000.00%Jan 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,290.21USD-1.19-0.09%Dec 027:00PM EST
COMEX 100oz Gold »1,291.00USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.53USD+0.01+0.07%Dec 027:00PM EST
Platinum Spot »811.50USD+6.50+0.80%Dec 027:00PM EST
Palladium Spot »1,411.00USD+15.00+1.06%Dec 027:00PM EST
COMEX Copper »2.71USD+0.01+0.52%Jan 1910:01PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »379.25USC-0.75-0.20%Mar 192:30AM EST
CBOT Wheat »518.00USC+0.25+0.05%Mar 192:19AM EST
KCBT Wheat »505.25USC+1.25+0.25%Mar 192:17AM EST
MGE Spring Wheat »572.25USC+0.25+0.04%Mar 192:08AM EST
Euronext Milling Wheat »204.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »906.75USC-1.00-0.11%Mar 192:30AM EST

Have a terrific weekend

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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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