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

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

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

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

Headlines

  • Asia stocks gain ahead of Fed,
  • GBP pressured by BREXIT uncertainty,
  • Crude Oil prices rise on expectations Fed will cut rates,
  • Gold slips as USD climbs.

Gold: Gold prices dipped Tuesday as USD rose to 2-month highs, while investors awaited the outcome of a 2-day FOMC policy meeting expected to result in a cut in interest rates.

  • Spot gold was down 0.3% at $1,422.85 oz as of 0550 GMT,
  • US gold futures rose 0.3% to $1,423.90 oz

Liquidity is still thin as traders seem to be holding back before the Fed gives its views on monetary policy,as a firm USD puts pressure on gold prices.

We are looking at the tone of the Fed speech and how many more cuts are expected. Financial markets are expecting 2 more cuts in 2-H, and overall, we are Bullish gold,

Energy: Crude Oil prices rose for a 4th day running Tuesday on optimism the Fed will cut interest rates for the 1st time in more than 10 years, which should support economic and fuel demand growth in China the world’s biggest Crude Oil user.

  • ICE Brent Crude Oil rose 33c, or 0.5%, to $64.04 bbl by 0435 GMT,
  • NYMEX WTI Crude Oil up 30c or 0.5%, at $57.17 bbl.

US Dovish monetary policy in the United States would support a continuation in global expansionary activities and fuel demand growth for 2-H of Y 2019,

Equities: Asian stocks gained Tuesday as investors prepare for an expected Fed interest rate cut this week.

MSCI’s broadest index of Asia-Pacific shares sans Japan gained 0.35%.

The Shanghai Composite Index .SSEC rose 0.7%.

Australian stocks climbed + 0.7% to touch a record high, supported by mining shares and adding to the previous day’s tech-driven gains.

Japan’s Nikkei .N225 was up 0.7%, showing little reaction after the Bank of Japan left monetary policy unchanged as expected Tuesday.

Currencies: GBP retreated to 28-month lows on concerns about a no-deal BREXIT gripped currency markets.

.DXY Vs a basket of 6 peer currencies higher at 98.106.

The JPY, firmer at 108.725/dollar, with the BOJ’s policy decision having little impact.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,425.04USD-1.64-0.12%Dec 022:49AM EDT
COMEX 100oz Gold »1,425.50USD+5.10+0.36%Aug 192:40AM EDT
Silver Spot »16.45USD-0.01-0.04%Dec 022:49AM EDT
Platinum Spot »879.59USD+0.60+0.07%Dec 022:49AM EDT
Palladium Spot »1,546.90USD-6.60-0.43%Dec 022:49AM EDT
COMEX Copper »2.71USD-0.00-0.09%Aug 191:39AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »57.25USD+0.38+0.66%Aug 192:40AM EDT
ICE Brent Crude »64.13USD+0.42+0.65%Jul 192:40AM EDT
NYMEX RBOB Gasoline »1.88USD+0.02+0.84%Jul 192:35AM EDT
Dubai Crude Spot »63.31USD+0.000.00%Dec 022:50AM EDT
ICE Gas Oil »589.75USD+3.00+0.51%Aug 192:39AM EDT
NYMEX No2 Heating Oil »1.92USD+0.01+0.42%Jul 191:44AM EDT
NYMEX Nat Gas »2.12USD+0.000.00%Aug 192:40AM EDT
ICE NBP Nat Gas »27.21GBP-0.24-0.88%Jul 192:39AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »414.25USC-2.75-0.66%Sep 192:36AM EDT
CBOT Wheat »498.00USC-5.50-1.10%Sep 192:39AM EDT
KCBT Wheat »432.00USC-4.50-1.04%Sep 192:28AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »175.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »884.75USC-1.00-0.11%Aug 192:19AM 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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