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

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

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

Gold Off
USD Flat
Crude Oil Down
Stocks Off

In Asia

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

China’s state planner Tuesday warned that the downward pressure on the economy will affect China’s job market as falling factory orders point to a further drop in activity in coming months and more job shedding.

Monday, China reported its lowest annual economic growth since Y 1990.

Gold: Gold prices held steady Tuesday, hanging near a 3-week low touched in the prior session, as a strong USD limited gains for the precious Yellow metal, which was drawing support from mounting concerns of a global economic slowdown.

  • Spot gold was mostly unchanged at $1,279.68 oz by 0733 GMT
  • US gold futures fell 0.3% to $1,279.40 oz

Spot gold may fall to $1,268, as it has broken a support at $1,279 oz

Energy: Crude Oil prices fell Tuesday on signs that an economic slowdown in China, the world’s 2nd-largest economy and Crude Oil consumer, was spreading, stoking concerns over future fuel demand.

  • NYMEX WTI Crude Oil futures were at $53.43 bbl, -0.7%, or 37c.
  • ICE Brent Brent Oil futures were at $62.26 bbl at 0736 GMT, -48c, or 0.8%, from their prior close.

China’s Crude Oil imports have so far defied the economic slowdown, hitting a record above 10-M BPD in late Y 2018, analysts believe the country to be at peak energy growth, with its thirst set to wane on the back of the slowdown.

Equities: Asian shares fell Tuesday as pessimism about world growth drove investors away from risk assets.

Spread-betters point to another weak start for Europe. FTSE futures were off 0.2%, while US stock futures, which offer an indication of how Wall Street will open, were down about 0.7%

In Asia, losses were led by Chinese shares, with the blue-chip index off 1.2% Hong Kong’s Hang Seng index was down more than 1% and Australia’s main share index off 0.5%.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.9% Tuesday, drifting a recent 7 off week high.

Japan’s Nikkei opened firmer, then faded 0.7%.

US markets were closed Monday for a Holiday, trading was subdued overnight.

Currencies: Demand for the safe-haven JPY kept the Buck under pressure with the Japanese currency last buying at 109.41 per USD. EUR was near the floor of its recent trading range at $1.135.

Against a basket of peer currencies, the .DXY was flat to unchanged at 96.393 .DXY.

Commodities: Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.36 USD-0.44-0.82%Jan 192:50AM EST
ICE Brent Crude »62.28 USD-0.46-0.74%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.44 USD-0.02-1.21%Jan 192:45AM EST
Dubai Crude Spot »61.49 USD-0.50-0.81%Dec 023:03AM EST
ICE Gas Oil »573.00 USD-1.25-0.22%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.91 USD-0.01-0.28%Jan 192:37AM EST
NYMEX Nat Gas »3.30 USD-0.18-5.58%Jan 192:53AM EST
ICE NBP Nat Gas »59.30 GBP+0.01+0.02%Jan 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,282.91USD+3.38+0.26%Dec 027:00PM EST
COMEX 100oz Gold »1,281.30USD+0.000.00%Jan 1912:00AM EST
Silver Spot »15.30USD+0.08+0.52%Dec 027:00PM EST
Platinum Spot »791.95USD+0.95+0.12%Dec 027:00PM EST
Palladium Spot »1,362.00USD+0.50+0.04%Dec 027:00PM EST
COMEX Copper »2.71USD-0.03-1.05%Jan 1912:00AM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »380.75USC-1.00-0.26%Mar 193:06AM EST
CBOT Wheat »518.75USC+1.00+0.19%Mar 193:09AM EST
KCBT Wheat »505.75USC-0.25-0.05%Mar 193:06AM EST
MGE Spring Wheat »572.00USC-2.25-0.39%Mar 193:08AM EST
Euronext Milling Wheat »205.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean»914.50USC-2.25-0.25%Mar 193:09AM EST

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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