$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD
FLASH: Gold Off, USD Firm, Crude Oil Up, Stocks Mixed
Notes: With the 1st US interest rate reduction in 10 yrs expected later this month, 2 Fed policymakers sketched out arguments Tuesday on how deep the cut should be, even as a 3rd said she needs more data before being ready to sign on at all.
Markets have fully priced in a 25-bpts cut by the FOMC at its meeting at the end of this month.
In Asia
Gold: The precious Yellow metal eased to $1,405.45 oz from a high above $1,418 Tuesday.
- Spot gold was- 0.2% at $1,403.81 oz, as of 0536 GMT,
- US gold futures -0.3% to $1,406.40 oz.
The 4 largest central banks are set to stimulate in 2-H of this year, so gold’s bullish outlook remains intact with short-term resistance at the $1,500 oz
Energy: Crude Oil prices rose Wednesday after steep falls in Tuesday’s session, although US Crude Oil trailed gains in Brent after US inventories fell less than expected.
- NYMEX WTI Crude Oil futures were up 6c at $57.68 by 0327 GMT, after diving 3.3% Tuesday,
- ICE Brent Crude Oil futures were up 25c at $64.60, or 0.4%. They closed down 3.2% in Tuesday’s session.
US Crude Oil inventories fell by 1.4-M bbl in the week to 12 July to 460-M bbl, industry group the American Petroleum Institute (API) said Tuesday.
Equities: Asian shares drifted Wednesday as investors await more earnings reports from corporate America.
Trade was muted with MSCI’s broadest index of Asia-Pacific shares sans Japan off 0.3%.
Japan’s Nikkei eased 0.5% and SKorea 1%, while Chinese blue chips dipped into the Red.
E-Mini futures for the S&P 500 were a fraction firmer.
Currencies: USD held firm in the wake of strong US retail data and a BREXIT-driven dive in GBP, Sterling was last at $1.2412, a big come-down from its March highs of $1.338.
.DXY is at 97.351 on a basket of 6 peer currencies, having risen 0.5% overnight. EUR settled at $1.1210, after a loss of 0.4% Tuesday, USD held at 108.18 JPY.
Commodities (quotes): Energy, Metals, and Agriculture Grains
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| NYMEX Crude Oil » | 57.59 USD | -0.03 | -0.05% | Jul 19 | 1:19AM EDT |
| ICE Brent Crude » | 64.47 USD | +0.12 | +0.19% | Jul 19 | 1:19AM EDT |
| NYMEX RBOB Gasoline » | 1.90 USD | +0.01 | +0.33% | Jul 19 | 1:12AM EDT |
| Dubai Crude Spot » | 62.69 USD | +0.02 | +0.03% | Dec 02 | 1:29AM EDT |
| ICE Gas Oil » | 581.50 USD | -18.50 | -3.18% | Aug 19 | 1:16AM EDT |
| NYMEX No2 Heating Oil » | 1.90 USD | -0.00 | -0.19% | Jul 19 | 1:07AM EDT |
| NYMEX Nat Gas » | 2.32 USD | +0.02 | +0.73% | Jul 19 | 1:20AM EDT |
| ICE NBP Nat Gas » | 31.38 GBP | +0.00 | 0.00% | Jul 19 | 11:59AM EDT |
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| Gold Spot » | 1,405.09USD | -0.84 | -0.06% | Dec 02 | 1:29AM EDT |
| COMEX 100oz Gold » | 1,404.60USD | -4.60 | -0.33% | Jul 19 | 10:43PM EDT |
| Silver Spot » | 15.60USD | +0.04 | +0.28% | Dec 02 | 1:29AM EDT |
| Platinum Spot » | 834.74USD | -3.26 | -0.39% | Dec 02 | 1:29AM EDT |
| Palladium Spot » | 1,521.21USD | -3.79 | -0.25% | Dec 02 | 1:29AM EDT |
| COMEX Copper » | 2.69USD | +0.00 | 0.00% | Jul 19 | 11:00PM ED |
| COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
|---|---|---|---|---|---|
| CBOT Corn » | 434.50USC | -0.75 | -0.17% | Sep 19 | 1:18AM EDT |
| CBOT Wheat » | 504.25USC | -3.25 | -0.64% | Sep 19 | 1:24AM EDT |
| KCBT Wheat » | 443.00USC | -3.25 | -0.73% | Sep 19 | 1:16AM EDT |
| MGE Spring Wheat » | 564.00USC | -1.25 | -0.22% | Dec 02 | 1:00AM EDT |
| Euronext Milling Wheat » | 175.50EUR | +0.00 | 0.00% | Sep 19 | 12:29PM EDT |
| CBOT Soybean » | 886.75USC | -1.00 | -0.11% | Aug 19 | 1:01AM EDT |
Stay tuned…
Asia: Gold, USD, Crude Oil, Stocks & Commodities added by Paul Ebeling on
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Paul Ebeling
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