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

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

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

FLASH: Gold Flat USD Up, Crude Oil Up, Stocks Up

Headlines

  • Asian shares tick higher, euro near 2-month lows before ECB decision
  • Crude Oil advances on Gulf tensions, but demand concerns cap gainers
  • Gold steadies ahead of ECB decision; firm USD caps appeal
  • Fed to cut rates for first time in a decade this month: Reuters Poll
  • Market attention will be squarely on the ECB rate decision after

Gold: Gold steady Thursday ahead of ECB policy meeting later in the day, while a stronger USD pressured the safe-haven metal.

  • Spot gold flat at $1,425.80 oz, as of 0724 GMT,
  • US gold futures were +0.1% at $1,425.60 oz

Gold prices have been ranged, some money managers are starting to shut some positions to prepare for the Fed meeting, and also the ECB decision coming out today.

Energy: The overall sentiment in the Crude Oil market has darkened as investors worry that slowing global economic growth will weaken demand for petroleum.

  • ICE Brent Crude Oil futures +28c, or 0.4%, to $63.46 bbl by 0650 GMT, after dropping 1% overnight, the 1st decliner in 4 sessions running,
  • NYMEX WTI Crude Oil was +27c, or 0.5%, at $56.15 bbl, having dropped 1.6% in the prior session.

Equities: European shares, with pan-region Euro Stoxx 50 futures up 0.45%, German DAX futures up 0.43% and FTSE futures up 0.19% in early European trade.

Japan’s Nikkei touched near 3 month highs before trimming gains to be up 0.26%. Australian shares neared a 12-year high driven by expectations the ECB and the Fed will lower borrowing costs soon.

Chinese blue-chips added 0.48%, as investors looked with hope to a face-to-face meeting between Top US and Chinese negotiators next week, even if there are few signs that it will produce real progress in the two countries’ trade war.

Shares in SKorea dropped 0.46% as leading chipmakers shed recent gains amid trade tensions between Seoul and Tokyo.

MSCI’s broadest index of Asia-Pacific shares sans Japan, which had begun the day broadly unchanged, was last up 0.23%.

Currencies: Eurozone manufacturing contracted for the 6th month running. That pushed EUR to $1.1125, a level not seen since late-May. It was last at $1.1134

.DXY was flat at 97.724.

Japanese Yen Vs USD was lower at 108.15.

The GBP was last trading down 0.05% at $1.2475, after falling for several sessions as market participants feared the looming possibility of a no-deal BREXIT under Britain’s new PM, Boris Johnson.

Commodities (quotes): Metals, Energy, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,425.80USD+0.000.00%Dec 024:19AM EDT
COMEX 100oz Gold »1,422.80USD+0.000.00%Jul 197:01PM EDT
Silver Spot »16.53USD-0.06-0.36%Dec 024:19AM EDT
Platinum Spot »880.00USD+4.50+0.51%Dec 024:19AM EDT
Palladium Spot »1,537.54USD-2.46-0.16%Dec 024:19AM EDT
COMEX Copper »2.71USD+0.00+0.11%Jul 193:31AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »56.18 USD+0.30+0.53%Aug 194:21AM EDT
ICE Brent Crude »63.48 USD+0.30+0.47%Jul 194:21AM EDT
NYMEX RBOB Gasoline »1.87 USD+0.01+0.64%Jul 194:18AM EDT
Dubai Crude Spot »62.66 USD+0.18+0.29%Dec 024:31AM EDT
ICE Gas Oil »588.25 USD-4.25-0.72%Aug 194:21AM EDT
NYMEX No2 Heating Oil »1.92 USD+0.01+0.56%Jul 194:18AM EDT
NYMEX Nat Gas »2.23 USD+0.01+0.31%Jul 194:21AM EDT
ICE NBP Nat Gas »27.80 GBP+0.16+0.58%Jul 194:19AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »423.75USC-0.25-0.06%Sep 194:24AM EDT
CBOT Wheat »493.50USC-4.25-0.86%Sep 194:24AM EDT
KCBT Wheat »437.75USC-1.75-0.40%Sep 194:23AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »175.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »893.50USC+2.50+0.28%Aug 194:02AM 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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