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

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


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

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
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
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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