$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD
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
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
NYMEX Crude Oil » | 59.55 USD | +1.72 | +2.89% | Jul 19 | 11:17AM EDT |
ICE Brent Crude » | 66.11 USD | +1.95 | +2.95% | Jul 19 | 11:17AM EDT |
NYMEX RBOB Gasoline » | 1.97 USD | +0.04 | +2.14% | Jul 19 | 11:17AM EDT |
Dubai Crude Spot » | 64.54 USD | +1.18 | +1.83% | Dec 02 | 11:26AM EDT |
ICE Gas Oil » | 594.00 USD | +17.75 | +2.99% | Jul 19 | 11:14AM EDT |
NYMEX No2 Heating Oil » | 1.96 USD | +0.05 | +2.49% | Jul 19 | 11:15AM EDT |
NYMEX Nat Gas » | 2.48 USD | +0.06 | +2.30% | Jul 19 | 11:17AM EDT |
ICE NBP Nat Gas » | 32.95 GBP | +1.67 | +5.07% | Jul 19 | 11:16AM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
Gold Spot » | 1,406.91USD | +9.11 | +0.65% | Dec 02 | 11:18AM EDT |
COMEX 100oz Gold » | 1,397.50USD | +0.00 | 0.00% | Jul 19 | 7:01PM EDT |
Silver Spot » | 15.13USD | +0.03 | +0.22% | Dec 02 | 11:18AM EDT |
Platinum Spot » | 825.26USD | +19.26 | +2.33% | Dec 02 | 11:18AM EDT |
Palladium Spot » | 1,582.18USD | +35.17 | +2.22% | Dec 02 | 11:18AM EDT |
COMEX Copper » | 2.68USD | +0.05 | +2.02% | Jul 19 | 10:50AM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
CBOT Corn » | 430.00USC | -1.75 | -0.41% | Jul 19 | 11:06AM EDT |
CBOT Wheat » | 507.50USC | -2.25 | -0.44% | Jul 19 | 10:40AM EDT |
KCBT Wheat » | 444.00USC | +3.50 | +0.79% | Jul 19 | 9:32AM EDT |
MGE Spring Wheat » | 564.00USC | -1.25 | -0.22% | Dec 02 | 1:00AM EDT |
Euronext Milling Wheat » | 173.25EUR | +0.25 | +0.14% | Sep 19 | 11:11AM EDT |
CBOT Soybeans » | 887.00USC | +4.25 | +0.48% | Jul 19 | 11:07AM EDT |
Stay tuned…
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