Crude Oil Up
Notes: The Federal Open Markets Committee (FOMC) will hold the next policy-setting meeting on 29-30 January.
Washington Thursday signaled it could impose sanctions on Venezuela’s Crude Oil exports as Caracas descends further into political and economic chaos.
The US-China trade discussions will provide insight into how talks are progressing, while the British parliamentary voting is a Key BREXIT event.
Gold: Gold prices edged higher Friday on concerns about a prolonged U.S. government shutdown at a time when global growth is already slowing, with markets also waiting on US-China trade talks due next week.
- Spot gold rose 0.2% at $1,282.49 oz, as of 0539 GMT
- US gold futures also rose 0.2% at $1,281.80 oz
Investors are worried about the economic impact of the longest US government shutdown in history, now in its 34th day, with 2 bills to end the partial shutdown failing to win enough votes in the Senate.
Energy: Crude Oil prices rose by more than 1% Friday as turmoil in Venezuela triggered concerns that its exports could be disrupted soon.
- ICE Brent Crude Oil futures were at $61.89 bbl at 0246 GMT, +80c, or 1.3%, above Thursday’s close.
- WTI Crude Oil futures were at $53.90 bbl, +77c, or 1.5%.
Amid violent street protests, Venezuela’s opposition leader Juan Guaido declared himself interim President earlier this week, winning backing from Washington and large parts of Latin America, prompting Nicolas Maduro, the country’s leader since Y 2013, to break relations with the United States.
The Crude Oil market is oversupplied.
Equities: Asian stocks rose across the board Friday, buoyed by gains in US technology shares while investors awaited several Key events next week including US-China trade talks.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.95 percent to scale its highest since 4 December
The index was headed for a gainer of 0.6% this week, with strong corporate earnings helping somewhat to counter growing concerns over slowing global economic growth.
The Shanghai Composite Index rose 0.6%.
Tech-heavy SKorean shares added 0.9%. Australian stocks climbed 0.8%.
Japan’s Nikkei advanced 1.4% with technology companies boosted by a surge in their US peers.
Currencies: EUR was a shade firmer at $1.1316 but still in close reach of a 6-week trough of $1.1289 dove overnight. EUR was down 0.4% this week.
The single currency slid after ECB President Draghi acknowledged on Thursday that economic growth in the Eurozone was likely to be weaker than earlier expected due to the fall-out from factors ranging from China’s slowdown to BREXIT.
GBP was up 0.4% at $1.3109 after brushing a 2-month high of $1.3130, lifted after it was reported Thursday that Northern Ireland’s Democratic Unionist Party has privately decided to back Prime Minister May’s BEXIT deal next week if it includes a clear time limit to the Irish backstop.
USD +0.1% to 109.74 JPY and on track to end the week flat to little changed
Commodities, Live Quotes: Energy, Metals, and Agriculture Grains
|COMMODITY||LAST||CHANGE||% CHANGE||EXP DATE||TIME|
|NYMEX Crude Oil »||53.82 USD||+0.69||+1.28%||Feb 19||1:40AM EST|
|ICE Brent Crude »||61.79 USD||+0.70||+1.13%||Jan 19||7:00PM EST|
|NYMEX RBOB Gasoline »||1.40 USD||+0.01||+0.97%||Jan 19||11:54PM EST|
|Dubai Crude Spot »||61.44 USD||+0.74||+1.20%||Dec 02||1:50AM EST|
|ICE Gas Oil »||572.50 USD||+5.25||+0.92%||Feb 19||7:00PM EST|
|NYMEX No2 Heating Oil »||1.90 USD||+0.02||+0.91%||Jan 19||1:35AM EST|
|NYMEX Nat Gas »||3.19 USD||+0.10||+3.00%||Jan 19||1:40AM EST|
|ICE NBP Nat Gas »||57.57 GBP||+0.00||0.00%||Jan 19||7:00PM EST|
Have a terrific weekend.
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