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



FLASH: Gold Up, USD Flat, Crude Oil Up, Stocks Ease

Notes: President Trump made clear Friday that trade is his Top priority at this G-20 Summit, as China’s Xi warned against rising protectionism and India, Japan and Russia defended multi-lateral trade rules.

Investors and Traders await the meeting between Presidents Trump and Xi Saturday for signs of a de-escalation in the trade dispute. The 2 world leaders set to meet at the G-20 Summit in Japan.

In Asia

Gold: Gold prices rose Friday, heading for their best month in 3 years, as uncertainty loomed over whether highly anticipated trade talks between China and the United States would yield any progress in ending a year-long+ trade dispute.

  • Spot gold was up 0.4% at $1,414.61 oz, as of 0540 GMT,
  • US gold futures climbed 0.8% to $1,423.40 oz.

With nearly 1.2% gained so far this week, gold is also set to post its 6th consecutive weekly rise.

Gold has risen nearly 8.4% so far this month, on track for its biggest monthly percentage gainer since June 2016.

Energy: Crude Oil prices eased Friday in a cautious market, as traders eyed a scheduled meeting between Presidents Trump and Xi at the -Summit Saturday, and next week’s OPEC meeting.

  • ICE Brent Crude Oil futures were down 39c, or 0.6%, at $66.16 bbl by 0245 GMT,
  • NYMEX WTI Crude Oil futures were down 40c, or 0.7%, at $59.03 bbl.

OPEC and some non-members including Russia will hold meetings on 1-2 July in Vienna to decide whether to extend their supply cuts.

Equities: Asian shares decline Friday on doubts that a highly anticipated meeting between Presidents Trump and Xi this weekend could lead to an easing of trade tensions.

MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS fell 0.3%, with weakness in Chinese equities weighing on the broader region. Japan’s Nikkei stock index .N225 was 0.55% lower.

Chinese blue chips .CSI300 fell 0.49% Friday and Hong Kong’s Hang Seng lost 0.59%. Australian shares were off 0.3%.

The losses followed gains in global equity markets overnight. But S&P 500 e-mini stock futures ESc1 wavered Friday, trimming early gains to trade flat.

Currencies: USD is holding flat early Friday as investors awaited a crucial meeting between the leaders of the United States and China at a G-20 Summit this weekend for any signs of progress to end their trade dispute.

USD traded at 107.66 JPY, little changed on the day but on course for a 0.3% gainer this week as the Buck mounted a recovery from a 5-month low of 106.77 JPY marked Tuesday.

.DXY, the measure USD Vs 6 of its peers, was at 96.217, unchanged on the week.

The Australian dollar (AUD) held onto recent gains against USD, trading at $0.7009. The Aussie has risen 2.6% since hitting a 5-month low of $0.6832 on 18 June.

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

NYMEX Crude Oil »59.14 USD-0.29-0.49%Jul 191:45AM EDT
ICE Brent Crude »66.27 USD-0.28-0.42%Jun 191:41AM EDT
NYMEX RBOB Gasoline »1.93 USD-0.02-0.81%Jun 191:18AM EDT
Dubai Crude Spot »64.13 USD-0.07-0.11%Dec 021:55AM EDT
ICE Gas Oil »593.50 USD-0.50-0.08%Jul 191:43AM EDT
NYMEX No2 Heating Oil »1.95 USD-0.00-0.26%Jun 1910:31PM EDT
NYMEX Nat Gas »2.32 USD-0.00-0.09%Jul 191:45AM EDT
ICE NBP Nat Gas »25.70 GBP+0.000.00%Jul 197:00PM EDT
Gold Spot »1,414.85USD+5.57+0.39%Dec 021:59AM EDT
COMEX 100oz Gold »1,418.30USD+9.90+0.70%Jul 1912:31AM EDT
Silver Spot »15.23USD-0.03-0.16%Dec 021:59AM EDT
Platinum Spot »814.74USD+3.24+0.40%Dec 021:59AM EDT
Palladium Spot »1,560.50USD+10.00+0.64%Dec 021:59AM EDT
COMEX Copper »2.70USD-0.01-0.28%Jul 191:48AM EDT
CBOT Corn »439.75USC-0.25-0.06%Jul 191:55AM EDT
CBOT Wheat »547.75USC+0.25+0.05%Jul 1911:14PM EDT
KCBT Wheat »467.25USC-0.75-0.16%Jul 191:33AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »182.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybeans»891.00USC+3.25+0.36%Jul 191:37AM EDT

Have a terrific weekend.

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