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



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

Note: The immediate focus shifts to the minutes of the Fed’s last meeting due Wednesday. Traders are also keenly waiting on the Fed’s Jackson Hole seminar and a Group of Seven summit this weekend for clues on what additional steps policymakers will take to bolster growth.


  • USD near 3-wk highs, as global stimulus talk lifts yields
  • Crude Oil prices steady on hopes trade tensions ease
  • Gold steady after slide below Key support $1,500 mark
  • Asia shares up as stimulus hopes temper recession worries

Gold: Gold prices were flat Tuesday, after declining more than 1% Monday hit by an uptick in risk appetite, while investors awaited meetings by policy-makers later in the week for clues on possible interest rate cuts.

  • Spot gold was stable at $1,495.21 oz, at 0438 GMT,
  • US gold futures fell 0.4% to $1,505.20 oz.

There is not a lot of conviction in Tuesday’s trading session for gold… Investors have gained some more confidence about the growth outlook and that weighs on gold

Energy: Crude Oil prices steady Tuesday on optimism that US-China trade tensions would ease and on hopes that major economies would enact stimulus measures to counter a possible global economic slowdown that could affect demand.

  • ICE Brent Crude Oil LCOc1 +1c to $59.75 bbl by 0344 GMT,
  • NYMEX WTI Crude Oil CLc1 -6c to $56.15 bbl.

A Reuters poll of 7 analysts revealed expectations that inventories in the United States fell by 1.9-M bbls in the week to 16 August.

Equities: Asian shares rose Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, boosting riskier assets and drawing money from safe-havens such as bonds and gold.

MSCI’s broadest index of Asia-Pacific shares sans Japan rose 0.53%, while Japan’s Nikkei rose 0.54%. Wall Street rallied overnight, with the S&P 500 gaining 1.21%.

In early European trade, the pan-region Euro Stoxx 50 futures were flat, German DAX futures were up 0.04%, and Britain’s FTSE futures were 0.03% higher.

Shares in China and Hong Kong swung between gains and losses after China lowered its lending reference rate only slightly in the 1st publication of a new benchmark since new interest rate reforms were announced on Saturday.

US stock futures rose 0.09%, while benchmark 10-yr Treasuries yields eased slightly to 1.5944%, and 2-yr yields traded at 1.5245%

Currencies: USD hanging near a 3-wk highs Tuesday, as expectations policymakers around the world would unleash fresh stimulus drove an improvement in appetite for riskier assets and lifted Us T-Bond yields.

China’s RMB Yuan was down 0.2% at 7.0661 per USD in onshore trade Vs the broadly firmer Buck.

The Buck traded little changed at 106.580 JPY following 3 straight sessions of gainers, having moved away from a 7-month low near 105.000 reached last week.

The Swiss franc (CHF), a currency sought in times of market turmoil and political tensions along with JPY, the USD held near a 2-week high of 0.9820 franc scaled overnight.

The EUR was higher at $1.1086, but it still held close to a 2-week low of $1.1066 set Friday on lingering concerns over political developments in Italy.

The Australian Dollar (AUD) +0.15% to $0.6776 after mins of the RBA August meeting suggested the central bank was not in a hurry to cut rates again.

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

Gold Spot »1,497.64USD+2.64+0.18%Dec 022:08AM EDT
COMEX 100oz Gold »1,497.50USD-2.90-0.19%Aug 199:20PM EDT
Silver Spot »16.95USD+0.09+0.55%Dec 022:08AM EDT
Platinum Spot »855.21USD+5.21+0.61%Dec 022:08AM EDT
Palladium Spot »1,481.20USD+7.90+0.53%Dec 022:08AM EDT
COMEX Copper »2.60USD+0.000.00%Aug 197:01PM EDT
NYMEX Crude Oil »56.45 USD+0.24+0.43%Aug 192:10AM EDT
ICE Brent Crude »59.97 USD+0.23+0.38%Aug 192:13AM EDT
NYMEX RBOB Gasoline »1.67 USD+0.01+0.31%Aug 192:14AM EDT
Dubai Crude Spot »59.10 USD+0.21+0.36%Dec 022:24AM EDT
ICE Gas Oil »565.00 USD+4.00+0.71%Sep 192:12AM EDT
NYMEX No2 Heating Oil »1.84 USD+0.00+0.27%Aug 192:13AM EDT
NYMEX Nat Gas »2.20 USD-0.01-0.27%Aug 192:14AM EDT
ICE NBP Nat Gas »30.03 GBP+0.000.00%Aug 1911:56AM EDT
CBOT Corn »367.50USC+2.50+0.68%Sep 192:11AM EDT
CBOT Wheat »466.50USC+1.00+0.21%Sep 192:12AM EDT
KCBT Wheat »391.00USC-0.25-0.06%Sep 192:11AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »165.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »860.50USC+6.50+0.76%Sep 192:11AM EDT

Stay tuned…

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