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

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

$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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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