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



FLASH: Gold Up, USD Off, Crude Oil Up, Stocks Mixed

Notes: Friday, China will release trade data for June, with analysts expecting exports to have fallen as weakening global demand and a sharp hike in US tariffs took a heavier toll on the world’s largest trading nation.

OPEC Thursday forecast world demand for its Crude Oil will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain supplies.

In Asia

Gold: Gold prices rose Friday and were on track for a weekly gainer, as worries over renewed US-China trade tensions and expectations of a rate cut by the Fed boosted demand for the safe-haven precious Yellow metal.

  • Spot gold +0.4% at $1,408.62 oz, as of 0133 GMT. Gold has risen nearly 0.6% so far this week,
  • US gold futures +0.2% at $1,410 oz.

Fed Chairman Powell indicated Thursday that a rate cut is likely at the FOMC’s next meeting as businesses slow investment due to trade disputes and a global growth slowdown.

Energy: Crude Oil prices hovered near 6-wk highs Friday as US producers in the Gulf of Mexico cut more than 50% their output in the face of a tropical storm and as tensions continued to simmer in the Middle East.

  • ICE Brent Crude Oil futures were up 53c, or 0.8%, at $67.05 bbl by 0606 GMT Friday,
  • NYMEX Crude Oil futures were up 42c, or 0.7%, at $60.62 bbl. The U.S. benchmark marked its highest mark since 23 May.

Thursday, Crude Oil companies in the Gulf of Mexico had cut more than 1M BPD of output, or 53% of the region’s production, due to Tropical Storm Barry which could make landfall Saturday on the Louisiana coast.The storm was forecast to become a category one hurricane with at least 74-mph winds.

Equities: Asian shares shuttled between small losses and gains Friday as investors awaited China trade, lending and growth data, worries over US-China trade tensions deflated optimism rooted in expectations of a Fed rate cut this month.

Pan-region Euro Stoxx 50 futures STXEc1 were up 0.29% at 3,500, German DAX futures FDXc1 were up 0.36% at 12,367 and FTSE futures FFIc1 were up 0.34% at 7,475. Financial spread-betters expect Paris’ CAC .FCHI to open 0.38% higher.

MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS, which moved in a narrow range through the day, was flat in the afternoon. Chinese shares rose, with the CSI300 .CSI300 adding 0.85%.

Australian shares dipped 0.3% and Japan’s Nikkei stock index .N225 started the day with small losses, but ended 0.2% ahead.

S&P 500 e-mini futures ESc1 were last up 0.23% at 3,011.

Currencies: The dollar fell 0.15% Vs JPY to 108.32, EUR gained 0.19% to buy $1.1273 JPY.

.DXY, which tracks the Buck Vs a basket of 6 peer rivals, was down 0.15% at 96.900.

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

NYMEX Crude Oil »59.55 USD+1.72+2.89%Jul 1911:17AM EDT
ICE Brent Crude »66.11 USD+1.95+2.95%Jul 1911:17AM EDT
NYMEX RBOB Gasoline »1.97 USD+0.04+2.14%Jul 1911:17AM EDT
Dubai Crude Spot »64.54 USD+1.18+1.83%Dec 0211:26AM EDT
ICE Gas Oil »594.00 USD+17.75+2.99%Jul 1911:14AM EDT
NYMEX No2 Heating Oil »1.96 USD+0.05+2.49%Jul 1911:15AM EDT
NYMEX Nat Gas »2.48 USD+0.06+2.30%Jul 1911:17AM EDT
ICE NBP Nat Gas »32.95 GBP+1.67+5.07%Jul 1911:16AM EDT
Gold Spot »1,406.91USD+9.11+0.65%Dec 0211:18AM EDT
COMEX 100oz Gold »1,397.50USD+0.000.00%Jul 197:01PM EDT
Silver Spot »15.13USD+0.03+0.22%Dec 0211:18AM EDT
Platinum Spot »825.26USD+19.26+2.33%Dec 0211:18AM EDT
Palladium Spot »1,582.18USD+35.17+2.22%Dec 0211:18AM EDT
COMEX Copper »2.68USD+0.05+2.02%Jul 1910:50AM EDT
CBOT Corn »430.00USC-1.75-0.41%Jul 1911:06AM EDT
CBOT Wheat »507.50USC-2.25-0.44%Jul 1910:40AM EDT
KCBT Wheat »444.00USC+3.50+0.79%Jul 199:32AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »173.25EUR+0.25+0.14%Sep 1911:11AM EDT
CBOT Soybeans »887.00USC+4.25+0.48%Jul 1911:07AM EDT

Stay tuned…


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