Asia 2019: Gold, USD, Crude Oil, Stocks & Commodities

Asia 2019: Gold, USD, Crude Oil, Stocks & Commodities


Notes: Selling pressure on US stocks fading, positive sentiment recovering. The Big Q: Will stock markets can sustain their recovery at the start of the New Year?

Notes: Cooperation is the best choice for both China and the United States, Chinese President Xi Jinping told Trump in a congratulatory message on Tuesday to mark 40 years since the establishment of diplomatic relations.

NKorean leader Kim Jong Un said he is ready to meet President Trump again anytime to achieve their common goal of denuclearizing the Korean Peninsula.

British PM Theresa May urged lawmakers to back her BREXIT deal, promising that it would allow the country to “turn a corner” and let the government focus on solving domestic problems such as housing and a skill shortage.

In Asia

Gold: Gold prices edged lower Wednesday as Asian equities saw support on the 1st day of the New Year from gains in US stock futures, pointing to an improvement in risk appetite.

  •  Spot gold fell 0.2% to $1,279.31 oz at 0120 GMT. The metal was not far off Monday’s more than 6-month high at $1,284.09.
  • US gold futures were flat to little changed at $1,281 oz.

Energy: Crude Oil prices fell Wednesday on the back of surging US production and concerns about an economic slowdown in Y 2019, as China’s factory activity showed signs of contraction.

  • ICE Brent Crude Oil futures were at $53.47 bbll at 0315 GMT, -33c, or 0.6%, from their final close of Y 2018.
  • NYMEX WTI Crude Oil futures were at $45.32 bbl, down 9c, or 0.2%.

Note: In physical Crude Oil markets, Malaysia’s Petronas set the official selling price of a basket of December-loading Malaysian crude grades at $62.79 a barrel, the lowest since October 2017, the state oil firm said on Wednesday.

Traders said prices fell on expectations of oversupply due to surging US Crude Oil production and concerns about a global economic slowdown.

Equities: Asian shares are cautiously higher on the 1st trading day of the New Year as early gains in US stock futures signal improvement in risk appetite.

Currencies: The US Dollar (.DXY) Index, which tracks the Buck against a basket of peer currencies, was marginally lower.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »45.04 USD-0.37-0.82%Jan 1911:03PM EST
ICE Brent Crude »53.36 USD-0.44-0.82%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.29 USD-0.01-0.70%Jan 1911:03PM EST
Dubai Crude Spot »52.06 USD-1.45-2.79%Dec 0211:12PM EST
ICE Gas Oil »499.25 USD-11.50-2.30%Jan 197:00PM EST
NYMEX No2 Heating Oil »1.67 USD-0.01-0.83%Jan 1911:03PM EST
NYMEX Nat Gas »3.02 USD+0.08+2.55%Jan 1911:03PM EST
ICE NBP Nat Gas »61.07 GBP+0.000.00%Jan 197:00PM EST
Gold Spot »1,283.11USD+0.94+0.07%Dec 027:00PM EST
COMEX 100oz Gold »1,278.30USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.34USD-0.10-0.67%Dec 027:00PM EST
Platinum Spot »791.00USD-0.50-0.06%Dec 027:00PM EST
Palladium Spot »1,265.24USD+1.24+0.10%Dec 027:00PM EST
COMEX Copper »2.65USD+0.02+0.90%Jan 1910:50PM EST
CBOT Corn »375.00USC+0.000.00%Mar 195:25PM EST
CBOT Wheat »503.25USC+0.000.00%Mar 195:40PM EST
KCBT Wheat »488.75USC+0.000.00%Mar 191:00AM EST
MGE Spring Wheat »549.00USC+0.000.00%Mar 192:30PM EST
Euronext Milling Wheat »203.25EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »882.50USC+0.000.00%Jan 195:39PM EST

Have a Happy New Year!

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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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