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

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


Gold Steady
USD Flat
Crude Oil Up
Stocks Rise

In Asia

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

NYMEX Crude Oil »53.82 USD+0.69+1.28%Feb 191:40AM EST
ICE Brent Crude »61.79 USD+0.70+1.13%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.40 USD+0.01+0.97%Jan 1911:54PM EST
Dubai Crude Spot »61.44 USD+0.74+1.20%Dec 021:50AM EST
ICE Gas Oil »572.50 USD+5.25+0.92%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.90 USD+0.02+0.91%Jan 191:35AM EST
NYMEX Nat Gas »3.19 USD+0.10+3.00%Jan 191:40AM EST
ICE NBP Nat Gas »57.57 GBP+0.000.00%Jan 197:00PM EST

Have a terrific weekend.

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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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