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

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


FLASH: Gold Up USD Up, Crude Oil Down, Stocks Lower


  • Crude Oil falls on growth outlook concerns and positive news on Iran
  • A Fed interest rate cut a certainty
  • Asian shares drift lower, trade talks loom
  • Gold rises as markets awaits Fed meeting

Gold: Gold prices gained Monday ahead of this week’s Fed monetary policy meeting, which is expected to lead to a cut in US interest rates.

  •  Spot gold was + 0.4% at $1,423.49 oz, as of 0121 GMT,
  • US gold futures + 0.3% to $1,423.20 oz.

Market participants now awaiting the FOM’s 30-31 July monetary policy meeting, where it is expected to trim its interest rate by at least 25 bpts.

Note: Interest rate futures are fully priced for a quarter-point rate cut from the Fed Wednesday, with a small chance of a half-point move.

Energy: Crude Oil prices fell on Monday as investors fretted over the outlook for global economic growth, while weekend talks between Iran and major powers ended on a generally positive note, suggesting an easing of tensions in the Middle East.

  • ICE Brent Crude futures were down 23c, or 0.4%, at $63.23 bbl by 0427 GMT,
  • NYMEX WTI Crude Oil was down 9c, or 0.2%, at $56.11 bbl.

Economic growth in the United States slowed less than expected in Q-2with a boom in consumer spending, strengthening the outlook for Crude Oil consumption. But growth outside the US is slowing faster, due partly to the impact of the US-China trade dispute.

Equities: Asian shares drifted lower Monday as markets count down to a likely cut in US interest rates Wednesday with much riding on What’s Next?

MSCI’s broadest index of Asia-Pacific shares sans Japan eased 0.4% in slow trade. Japan’s Nikkei dipped 0.5% and Shanghai blue chips 0.2%.

E-Mini futures for the S&P 500 up significantly overnight

Currencies: .DXY hit a 2-month high Vs a basket 6 peer currencies at 98.010, and was last trading at 97.921.

EUR stood at $1.1133 Monday, just above last week’s 2-year lows around $1.1102, while USD moved back to 108.48 JPY.

The dollar had got a helping hand from White House economic adviser Larry Kudlow who Friday said The Trump Administration had “ruled out” intervening to push it South.

GBP hanging near 27-month lows at $1.2375 reports the government of Prime Minister Boris Johnson was preparing the ground for a “no-deal” BREXIT

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

Gold Spot »1,419.33USD+1.02+0.07%Dec 021:39AM EDT
COMEX 100oz Gold »1,418.50USD+0.000.00%Jul 194:40PM EDT
Silver Spot »16.37USD-0.02-0.12%Dec 021:39AM EDT
Platinum Spot »865.60USD+5.60+0.65%Dec 021:39AM EDT
Palladium Spot »1,528.00USD-7.50-0.49%Dec 021:39AM EDT
COMEX Copper »2.68USD+0.000.00%Jul 194:40PM EDT
NYMEX Crude Oil »56.04USD-0.16-0.29%Aug 191:33AM EDT
ICE Brent Crude »63.15USD-0.31-0.49%Jul 191:32AM EDT
NYMEX RBOB Gasoline »1.87USD-0.01-0.37%Jul 191:24AM EDT
Dubai Crude Spot »62.56USD-0.20-0.32%Dec 021:44AM EDT
ICE Gas Oil »583.25USD-0.75-0.13%Aug 191:33AM EDT
NYMEX No2 Heating Oil »1.90USD-0.00-0.25%Jul 191:34AM EDT
NYMEX Nat Gas »2.18USD+0.01+0.37%Jul 191:29AM EDT
ICE NBP Nat Gas »27.52GBP+0.000.00%Jul 197:00PM EDT
CBOT Corn »415.00USC+0.50+0.12%Sep 191:34AM EDT
CBOT Wheat »500.75USC+4.75+0.95%Sep 191:33AM EDT
KCBT Wheat »434.75USC+2.75+0.63%Sep 191:34AM 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 »883.25USC+0.000.00%Aug 191:27AM EDT

Have a terrific week.

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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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