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

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


Gold Steady
USD Flat
Crude Oil Down
Stocks Rise

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, but its retail markets are expanding widely.

China makes up 19% of the world’s economy, the slowdown this year compared to last will pare 0.2% off global growth.

Gold: Gold held steady Thursday, supported by a softer USD due to concerns the prolonged US government shutdown will limit economic growth even as concerns of slowing global growth grew.

  • Spot gold was mostly steady at $1,281.54 oz, as of 0717 GMT
  • US gold futures were down 0.2% at $1,281 oz.

Rising economic and geopolitical uncertainties, a more dovish Fed and flagging USD strength continue to support gold prices.

Energy: Crude Oil prices declined on Thursday on lingering concerns that slowing global economic growth may limit fuel demand and after a surprise build in US Crude Oil inventories was announced Wednesday.

  • ICE Brent Crude Oil futures were at $60.85 bbl at 0627 GMT, -29c, or 0.5%, from Wednesday’s settlement.
  • NYMEX WTI Crude Oil futures were at $52.37 bbl, -25c from their Wednesday’s close.

Crude Oil market sentiment was weakened by a surprise increase in US inventories after refineries cut output, data from industry group the American Petroleum Institute (API) showed Wednesday.

Crude Oil inventories rose by 6.6-M bbl in the week ended 18 January to 443.6-M bbl, compared with analyst expectations for a decrease of 42,000 bbl, the API said. Refinery runs fell by 152,000 BPD.

The United States has overtaken Russia and Saudi Arabia to become the world’s biggest producer with production levels approaching 12-M BPD bar.

Equities: Asian shares up a bit in quiet trade Thursday after Wall Street finished higher, but political uncertainty in the United States and worries about weakening global economic growth kept investors sidelined.

Financial spread-betters expect London’s FTSE, Frankfurt’s DAX .DAX and Paris’s CAC to dip marginally when they open Thursday, with investors awaiting news from the ECB’s 1st policy review of the year.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.3%, while Japan’s Nikkei average eased 0.1%.

China’s benchmark Shanghai Composite and the blue-chip CSI 300 rose 0.5 and 0.6%, respectively, taking positive cues from financial firms’ profits and the approval for a new technology board in Shanghai. Hong Kong’s Hang Seng index rose 0.3%.

Currencies: The USD was last off 0.1% Vs JPY the yen changing hands at 109.70 JPY per USD in thin trade.

The Buck hit a YTD high of 110.00 JPY against the Japanese currency after the BoJ kept its policy on hold the prior day.

GBP hit a fresh 11-week high Vs USD, rising to $1.3094, on bets that a no-deal BREXIT can be avoided if Parliament exerts greater control over the process.

The EUR was flat at $1.1383. It has lost more than 1.5% since climbing to a 3-month high of $1.1570 on 10 January.

The Australian Dollar (AUD) suffered a setback when a hike in mortgage rates by one of the country’s major banks added to the case for a cut in official rates, even as domestic job data showed a solid labor market.

The Aussie slid to $0.7100, unwinding all of a data-inspired jump to $0.7168.

Commodities Live Quotes: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »52.37 USD-0.25-0.48%Feb 191:15AM EST
ICE Brent Crude »60.85 USD-0.29-0.48%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.38 USD-0.00-0.05%Jan 1910:18PM EST
Dubai Crude Spot »60.42 USD+0.01+0.02%Dec 021:26AM EST
ICE Gas Oil »566.75 USD-1.25-0.22%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.88 USD-0.01-0.41%Jan 191:14AM EST
NYMEX Nat Gas »3.00 USD+0.02+0.57%Jan 191:14AM EST
ICE NBP Nat Gas »60.19 GBP+0.000.00%Jan 197:00PM EST
Gold Spot »1,281.43USD-0.58-0.05%Dec 027:00PM EST
COMEX 100oz Gold »1,283.10USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.33USD-0.02-0.14%Dec 027:00PM EST
Platinum Spot »796.00USD+2.00+0.25%Dec 027:00PM EST
Palladium Spot »1,347.00USD+0.000.00%Dec 027:00PM EST
COMEX Copper »2.69USD+0.000.00%Jan 1912:48PM EST
CBOT Corn »379.00USC+0.25+0.07%Mar 192:16AM EST
CBOT Wheat »527.75USC+1.75+0.33%Mar 192:14AM EST
KCBT Wheat »517.00USC+2.00+0.39%Mar 191:49AM EST
MGE Spring Wheat »579.25USC+3.75+0.65%Mar 192:12AM EST
Euronext Milling Wheat »205.75EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »917.25USC+2.25+0.25%Mar 192:15AM 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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