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

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

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

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

Notes: A Reuters poll showed a growing number of economists expect the Fed policymakers to cut interest rates this year, although the majority still see it holding steady.

In Asia

Gold: Gold prices subdued Monday after retreating from a 14-month highs Friday, as USD held near multi-week highs on strong US retail sales data, ahead of the FOMC meeting this week.

  • Spot gold was down 0.2% at $1,338.86 oz, as of 0549 GMT,
  • US Gold futures were down 0.2% at $1,343.90 oz.

Gold prices are holding tight in here. The markets have aggressively priced in rate-cut expectations and trade uncertainties have boosted safe-haven assets.

Energy: Crude Oil prices rose Monday after US Secretary of State Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.

  • ICE Brent Crude Oil futures rose 0.4% to $62.24 bbl,
  • NYMEX WTI Crude Oil futures gained 0.3% to $52.66.

Equities: Asian stocks higher Monday, with a rebound in the Hong Kong market helping the mood, as investors remained cautious ahead of a closely-watched Fed meeting.

MSCI’s broadest index of Asia-Pacific shares sans Japan up 0.1%, after opening slightly weaker. Japan’s Nikkei average ticked up by a similar amount.

Asian markets got a quick boost after Hong Kong’s Hang Seng Index jumped as much as 1.4%. At the weekend, the territory’s leader Carrie Lam climbed down on a bill that would have allowed extradition to China.

The Hang Seng fell for 3 sessions running through Friday, after the extradition bill triggered mass protests and some of the worst unrest seen in the territory since Britain handed it back to Chinese rule in Y 1997.

Mainland Chinese shares firmed, with the benchmark Shanghai Composite up 0.2% and the blue-chip CSI 300 rising 0.2%.

Currencies: .DXY Vs a basket of 6 peer currencies climbed to 97.583 Friday, its highest mark in 2 weeks, after the US retail sales data eased fears that the world’s largest economy is slowing sharply.

.DXY last stood at 97.488, while EUR fetched $1.1222, near the lower end of its weekly trading range.

Bitcoin (BTC) spiked overnight to $9,391.85, its highest mark in 13 months. It was last quoted at $9,104.64.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »52.64 USD+0.13+0.25%Jun 191:47AM EDT
ICE Brent Crude »62.23 USD+0.22+0.35%Jun 191:47AM EDT
NYMEX RBOB Gasoline »1.73 USD+0.00+0.03%Jun 191:45AM EDT
Dubai Crude Spot »59.75 USD+0.12+0.20%Dec 021:57AM EDT
ICE Gas Oil »564.00 USD+0.000.00%Jul 191:47AM EDT
NYMEX No2 Heating Oil »1.83 USD+0.00+0.21%Jun 191:43AM EDT
NYMEX Nat Gas »2.39 USD+0.01+0.29%Jun 191:47AM EDT
ICE NBP Nat Gas »28.31 GBP+0.000.00%Jun 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,339.05USD-2.28-0.17%Dec 021:59AM EDT
COMEX 100oz Gold »1,339.00USD-1.10-0.08%Jun 191:30AM EDT
Silver Spot »14.85USD-0.02-0.16%Dec 021:59AM EDT
Platinum Spot »801.53USD+2.53+0.32%Dec 021:59AM EDT
Palladium Spot »1,454.60USD-10.40-0.71%Dec 021:58AM EDT
COMEX Copper »2.63USD+0.000.00%Jun 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »462.75USC+9.75+2.11%Jul 191:52AM EDT
CBOT Wheat »544.00USC+5.50+1.01%Jul 191:53AM EDT
KCBT Wheat »483.00USC+6.75+1.40%Jul 191:52AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »180.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »910.25USC+13.50+1.48%Jul 191:53AM EDT

Have a terrific week.

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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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