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



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

NYMEX Crude Oil »57.59 USD-0.03-0.05%Jul 191:19AM EDT
ICE Brent Crude »64.47 USD+0.12+0.19%Jul 191:19AM EDT
NYMEX RBOB Gasoline »1.90 USD+0.01+0.33%Jul 191:12AM EDT
Dubai Crude Spot »62.69 USD+0.02+0.03%Dec 021:29AM EDT
ICE Gas Oil »581.50 USD-18.50-3.18%Aug 191:16AM EDT
NYMEX No2 Heating Oil »1.90 USD-0.00-0.19%Jul 191:07AM EDT
NYMEX Nat Gas »2.32 USD+0.02+0.73%Jul 191:20AM EDT
ICE NBP Nat Gas »31.38 GBP+0.000.00%Jul 1911:59AM EDT
Gold Spot »1,405.09USD-0.84-0.06%Dec 021:29AM EDT
COMEX 100oz Gold »1,404.60USD-4.60-0.33%Jul 1910:43PM EDT
Silver Spot »15.60USD+0.04+0.28%Dec 021:29AM EDT
Platinum Spot »834.74USD-3.26-0.39%Dec 021:29AM EDT
Palladium Spot »1,521.21USD-3.79-0.25%Dec 021:29AM EDT
COMEX Copper »2.69USD+0.000.00%Jul 1911:00PM ED
CBOT Corn »434.50USC-0.75-0.17%Sep 191:18AM EDT
CBOT Wheat »504.25USC-3.25-0.64%Sep 191:24AM EDT
KCBT Wheat »443.00USC-3.25-0.73%Sep 191:16AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »175.50EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »886.75USC-1.00-0.11%Aug 191:01AM EDT

Stay tuned…

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