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

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


Gold Up
USD Soft
Crude Oil Higher
Stocks Up

In Asia

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

UK PM May will return to Parliament Monday to set out how she plans to try to break the BREXIT deadlock after her deal was rejected by lawmakers last week.

China grew 6.4% in Q-4 from a year earlier, as had been expected and matching levels last seen in early Y 2009 during the global financial crisis. China is expected to continue to stimulate.

Gold: Gold firm as rising risk appetite offsets Fed pause notions.

  • Spot gold was trading up 0.1% t at $1,282.31 oz by 0306 GMT
  • US gold futures were steady at $1,282 oz.

Dovish signals from the Fed keeping USD strength in check, helping gold, even as Bearish sentiments fade in equities.

Gold has risen more than 10% since touching 1.5 year lows mid August, mainly due to volatile equity markets and a softer Buck.

Reflecting investor appetite for gold, holdings of SPDR Gold (GLD) , the largest gold based exchange traded fund, rose 1.5% Friday to 809.76 tonnes.

Energy: Crude Oil prices rose to their highest for Y 2019 Monday after data showed refinery processing in China, the world’s 2nd-largest consumer, rose to a record in Y 2018, despite a slowing economy last year.

  • ICE Brent Crude Oil futures at $62.94 bbl at 0404 GMT, up 24c, or 0.4%, from Friday’s close. Brent earlier rose above $63 for the 1st time in Y 2019.
  • NYMEX WTI Crude Oil futures were at $54.05 bbl, + 25c, or 0.5%. It was the 1st time this year that WTI rose above $54 bbl.

Traders said the price rises came after data released by China’s National Bureau of Statistics Monday showed Crude Oil refinery throughput climbed to record 603.57-M tonnes in Y 2018, or 12.12-M BPD, + 6.8% from Y 2017.

Equities: Asian markets kept on track Monday as data showed the Chinese economy slowed at the end of last year, underlining the urgent need for more stimulus as Beijing begins to align with the US over trade.

Markets reacted calmly, with MSCI’s broadest index of Asia-Pacific shares outside Japan + 0.2%, after rising 1.6% last week.

Chinese blue chips gained 0.7%.

Japan’s Nikkei added 0.3%, helped by a recent pullback in JPY. The Aussie, often used a liquid proxy for China investments mover up to $0.7167.

E-Mini future for the S&P 500 eased 0.2%, though trade was light with the US on Holiday. Spread-betters pointed to small opening gains for the major European exchanges.

Currencies: The GBP sidelined on BREXIT uncertainty at $1.2867, having briefly been as high as $1.3000 last week.

USD held firm on the JPY at 109.61, while EUR was near the floor of its recent trading range at $1.1375.

Against a basket of currencies, .DXY was softer at 96.295.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »54.05 USD+0.25+0.46%Jan 1912:00AM EST
ICE Brent Crude »62.95 USD+0.25+0.40%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.46 USD+0.00+0.16%Jan 1912:00AM EST
Dubai Crude Spot »62.31 USD+0.30+0.48%Dec 0211:47PM EST
ICE Gas Oil »576.50 USD+2.25+0.39%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.92 USD+0.00+0.23%Jan 1912:00AM EST
NYMEX Nat Gas »3.35 USD-0.13-4.00%Jan 1912:00AM EST
ICE NBP Nat Gas »61.79 GBP+0.000.00%Jan 197:00PM EST
Gold Spot »1,280.96USD+0.01+0.00%Dec 027:00PM EST
COMEX 100oz Gold »1,281.30USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.28USD-0.04-0.26%Dec 027:00PM EST
Platinum Spot »797.00USD-18.50-2.32%Dec 027:00PM EST
Palladium Spot »1,380.00USD+3.50+0.25%Dec 027:00PM EST
COMEX Copper »2.74USD+0.000.00%Jan 197:01PM EST
CBOT Corn »381.75USC+0.000.00%Mar 195:20PM EST
CBOT Wheat »517.75USC+0.000.00%Mar 191:00AM EST
KCBT Wheat »506.00USC+0.000.00%Mar 195:26PM EST
MGE Spring Wheat »574.25USC+0.000.00%Mar 198:00PM EST
Euronext Milling Wheat »204.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »916.75USC+0.000.00%Mar 195:33PM EST

Have a terrific Holiday in the USA.

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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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