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

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

$GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT

Gold Steady
USD Flat
Crude Oil Up
Stocks Off

In Asia

Notes: The Federal Open Markets Committee (FOMC) will hold the next policy-setting meeting on 29-30 January.

China reported its lowest annual economic growth since Y 1990 and must stimulate.

Gold: Gold prices stood firm Wednesday on higher demand for safe-haven assets over concerns of slowing global economy and uncertainties about the US-China trade dispute.

  • Spot gold was flat to little changed at $1,284.10 oz by 0717 GMT
  • US gold futures were up 0.1% at $1,284 oz.

Reflecting investors’ appetite for gold, holdings of the SPDR Gold ETF (GLD), the largest gold-based ETF, was at its highest since June 2018.

Steady moves in USD, even after dovish comments from Fed and disappointing macro economic data is restricting gold’s movement, plus its inability to break above the phych resistance at $1,300

Note: Spot gold rose 0.4% Tuesday as global stock markets fell. Asian stocks edged down Wednesday.

Energy: Crude Oil prices up Wednesday after China said it would raise spending to stem an economic slowdown that has been weighing on financial markets.

  • ICE Brent Crude Oil futures were at $61.85 bbl at 0624 GMT, +35c, or 0.6%, from their last close.
  • NYMEX WTI Crude Oil futures were at $53.26 bbl, +25c, or 0.5%.

A widespread economic slowdown is expected to dent growth in demand for fuel, weighing on energy prices.

Chinese finance ministry officials Wednesday said the government would step up fiscal spending this year to stimulate its economy, which last year registered its lowest growth rate since Y 1990.

Equities: Asian stocks paused Wednesday as concerns over the outlook for global economic growth and the ongoing US-China trade dispute kept investors away from risk assets.

Spreadbetters expected European stocks to open lower, with Britain’s FTSE losing 0.3%, Germany’s DAX slipping 0.2% and France’s CAC shedding 0.4%.

MSCI’s broadest index of Asia-Pacific shares sans Japan dipped 0.15%, stalling after climbing to a 7-week high Monday.

The Shanghai Composite Index was last down 0.15%, having moved in and out of the Red.

Australian stocks lost 0.25% and Japan’s Nikkei shed 0.1%.

Currencies: USD rose 0.25% to 109.73 JPY , recovering the prior day’s losses.

EUR was higher at $1.1368 but remained in close reach of a three-week low of $1.1336 set on Tuesday, weighed by recent weakness in the Eurozone economy and worries about fallout from BREXIT.

Commodities: Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.18 USD+0.17+0.32%Feb 192:18AM EST
ICE Brent Crude »61.76 USD+0.26+0.42%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.41 USD+0.01+0.73%Jan 192:03AM EST
Dubai Crude Spot »61.05 USD+0.23+0.38%Dec 022:28AM EST
ICE Gas Oil »572.25 USD+7.00+1.22%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.91 USD+0.00+0.25%Jan 191:39AM EST
NYMEX Nat Gas »3.10 USD+0.06+1.94%Jan 192:16AM EST
ICE NBP Nat Gas »59.26 GBP+0.000.00%Jan 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,284.56USD-0.08-0.01%Dec 027:00PM EST
COMEX 100oz Gold »1,283.00USD+0.50+0.04%Jan 192:22AM EST
Silver Spot »15.39USD+0.06+0.38%Dec 027:00PM EST
Platinum Spot »792.00USD+4.00+0.51%Dec 027:00PM EST
Palladium Spot »1,346.19USD+1.19+0.09%Dec 027:00PM EST
COMEX Copper »2.69USD+0.000.00%Jan 191:28PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »380.00USC+1.00+0.26%Mar 192:26AM EST
CBOT Wheat »522.50USC+1.25+0.24%Mar 192:29AM EST
KCBT Wheat »511.75USC+2.00+0.39%Mar 192:28AM EST
MGE Spring Wheat »573.50USC+1.50+0.26%Mar 192:19AM EST
Euronext Milling Wheat »205.75EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »913.50USC+4.25+0.47%Mar 192:26AM EST

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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