$GLD, $XAU, $SLV, $USD, $BTC, $USO, $OIL, $WEAT, $CORN, $SOY
FLASH: Gold Spiked, USD Down, Crude Oil Up, Stocks Up
Notes: The Fed Wednesday signaled interest rate cuts beginning as early as July, saying it is ready to battle growing global and domestic economic risks as it took stock of rising trade tensions and growing concerns about weak inflation. That action has put the USD under extreme pressure in here.
A weaker USD supports gold and Crude Oil prices because, as they are usually priced in US dollars.
In Asia
Gold: Gold rose more than 1.5% Friday, breaking above $1,400 for the 1st time since September 2013, as hints of a rate cut from the Fed took a toll on the Buck and US Treasury yields.
Tensions in the Middle East also boosted gold’s rally, which has lifted the precious Yellow metal nearly 5% this week and almost 10% YTD.
- Spot gold was up 1.2% at $1,404.35 oz, as of 0537 GMT, after earlier hitting its highest since 4 September 2013, at $1,410.78,
- US gold futures +0.9% to $1,408.90 oz.
The dovishness of the Fed and ECB, geopolitical tensions in the Middle East, and a technical breakout above $1,350 on volume gave strong support for the precious Yellow metal,
Energy: Crude Oil prices reversed earlier gains Friday but benchmark Brent Crude Oil was set for its first weekly gainer in 5 weeks amid rising tensions in the Middle East and on hopes for a drop in US interest rates that may stimulate global growth.
- ICE Brent Crude Oil was down 20c, or 0.31%, at $64.25 bbl by 0630 GMT. The global benchmark jumped 4.3% Thursday, leaving it set for a weekly gainer of almost 4%,
- NYMEX WTI Crude Oil was down 16c, or 0.28%, at $56.90 bbl. The US benchmark spiked 5.4% Thursday and is on track for a more than 8% increase on the week.
Equities: Asian stocks struggled Friday to follow Wall Street’s euphoria about a possible Fed rate cut next month as anxiety over US-China trade negotiations clouded investor sentiment in the region.
MSCI’s broadest index of Asia-Pacific shares sans Japan rose 0.1%. The index was up about 4% on the week when marked its highest level since May 8.
The Shanghai Composite Index rose 0.4%, Australian stocks declined 0.3% and Japan’s Nikkei shed 0.2% on the JPY’s surge.
The S&P 500 hit record highs Thursday after this week’s FOMC meeting boosted expectations that the Fed will cut interest rates as soon as next month to keep the US-China trade war from stalling economic growth.
Currencies: .DXY Vs a basket of peers currencies fell to a 2-week low of 96.495. .DXY shed roughly 1% this week.
The Buck has fallen 1.3% Vs JPY this week and slid to a 6-month low of 107.12 JPY Friday.
EUR was higher at $1.1302 after spiking up to an 8-day high of $1.1317 in the previous session. The single currency was headed for a weekly gainer of 0.8%.
Commodities (quotes): Energy, Metals, and Agriculture Grains
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
NYMEX Crude Oil » | 56.97 USD | -0.10 | -0.18% | Jul 19 | 3:08AM EDT |
ICE Brent Crude » | 64.44 USD | -0.01 | -0.02% | Jun 19 | 3:07AM EDT |
NYMEX RBOB Gasoline » | 1.78 USD | -0.00 | -0.17% | Jun 19 | 2:54AM EDT |
Dubai Crude Spot » | 62.50 USD | -0.60 | -0.96% | Dec 02 | 3:17AM EDT |
ICE Gas Oil » | 580.75 USD | +1.25 | +0.22% | Jul 19 | 3:07AM EDT |
NYMEX No2 Heating Oil » | 1.89 USD | +0.00 | +0.16% | Jun 19 | 3:06AM EDT |
NYMEX Nat Gas » | 2.21 USD | +0.03 | +1.18% | Jun 19 | 3:06AM EDT |
ICE NBP Nat Gas » | 26.10 GBP | -0.17 | -0.65% | Jun 19 | 3:04AM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
Gold Spot » | 1,391.49USD | +3.71 | +0.27% | Dec 02 | 3:28AM EDT |
COMEX 100oz Gold » | 1,406.00USD | +13.10 | +0.93% | Jun 19 | 10:30PM EDT |
Silver Spot » | 15.31USD | -0.11 | -0.72% | Dec 02 | 3:28AM EDT |
Platinum Spot » | 805.71USD | +3.21 | +0.40% | Dec 02 | 3:28AM EDT |
Palladium Spot » | 1,479.57USD | +1.58 | +0.11% | Dec 02 | 3:28AM EDT |
COMEX Copper » | 2.72USD | +0.00 | 0.00% | Jun 19 | 7:01PM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
CBOT Corn » | 452.00USC | +2.00 | +0.44% | Jul 19 | 3:20AM EDT |
CBOT Wheat » | 526.75USC | +0.25 | +0.05% | Jul 19 | 3:19AM EDT |
KCBT Wheat » | 461.75USC | +1.25 | +0.27% | Jul 19 | 2:53AM EDT |
MGE Spring Wheat » | 564.00USC | -1.25 | -0.22% | Dec 02 | 1:00AM EDT |
Euronext Milling Wheat » | 180.00EUR | +0.00 | 0.00% | Sep 19 | 12:29PM EDT |
CBOT Soybean » | 912.00USC | -3.50 | -0.38% | Jul 19 | 3:19AM EDT |
Have a terrific weekend.
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