$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD
FLASH: Gold Steady, USD Up, Crude Oil Up, Stocks Flat
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 G-7 Summit this weekend for clues on what additional steps policymakers will take to bolster growth.
Headlines
- Brent Crude Oil futures climb above $60 bbl on US inventory draw
- Gold prices steady above $1,500, Fed mins in focus
- Caution holds Asian shares before Fed mins
- Political turmoil in Hong Kong, Britain and Italy has heightened uncertainties for investors.
Gold: Gold prices steady Wednesday after recovering to above the Key $1,500 oz mark in Tuesday session.
- Spot gold off 0.2% to $1,503.25 oz by 0344 GMT,
- US gold futures were down 0.2% at $1,513.30 oz
Minutes from the FOMC’s most recent meeting in July, when the Fed cut rates for the 1st time since the Y 2008 financial crisis, are due Wednesday.
The mins are going to set up a foundation of what to expect, and then Jackson Hole will provide clarity as to whether the Fed is finally coming to the party with potential monetary policy support,
Energy: Brent Crude Oil futures rose above $60 bbl Wednesday after a data report showed a larger-than-expected drop in US inventories, but ongoing worries about a possible global recession capped gains.
- ICE Brent Crude Oil gained 32c, or 0.5%, to $60.35 bbl by 0403 GMT,
- NYMEX WTI Crude Oil was up 25c, or 0.45%, at $56.38 a bbl.
US Crude Oil stocks fell by 3.5-M bbl in the week to 16 August data from industry group the American Petroleum Institute (API) showed Tuesday. Analysts polled expected a fall of 1.9-M bbl.
Equities: Asian shares flat-lined Wednesday as worries about global recession and endless trade disputes vied with hopes for a lot more monetary and fiscal stimulus to keep growth going.
Currencies: MSCI’s broadest index of Asia-Pacific shares sans Japan dithered either side of flat after 3 days running of gainers.
Japan’s Nikkei slipped 0.4%, while Shanghai blue chips lost -0.1%. E-Mini futures for the S&P 500, which added 0.25%, while EUROSTOXX 50 futures edged up 0.1%.
USD was a bit firmer on the JPY at 106.48 after losing 0.4% Tuesday, while GBP was last trading at $1.2170.
The EUR traded water near Tuesday’s high at $1.1101
Commodities (quotes): Metals, Energy, and Agriculture Grains
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
Gold Spot » | 1,501.40USD | -5.45 | -0.36% | Dec 02 | 1:19AM EDT |
COMEX 100oz Gold » | 1,505.00USD | +0.40 | +0.03% | Aug 19 | 8:05PM EDT |
Silver Spot » | 17.04USD | -0.08 | -0.47% | Dec 02 | 1:19AM EDT |
Platinum Spot » | 844.23USD | -4.33 | -0.51% | Dec 02 | 1:19AM EDT |
Palladium Spot » | 1,480.41USD | -10.60 | -0.72% | Dec 02 | 1:19AM EDT |
COMEX Copper » | 2.57USD | -0.00 | -0.08% | Aug 19 | 12:00AM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
NYMEX Crude Oil » | 56.36USD | +0.23 | +0.41% | Sep 19 | 1:28AM EDT |
ICE Brent Crude » | 60.36USD | +0.33 | +0.55% | Aug 19 | 1:28AM EDT |
NYMEX RBOB Gasoline » | 1.69USD | +0.01 | +0.42% | Aug 19 | 1:00AM EDT |
Dubai Crude Spot » | 59.73USD | +0.35 | +0.59% | Dec 02 | 1:38AM EDT |
ICE Gas Oil » | 569.75USD | +6.25 | +1.10% | Sep 19 | 1:25AM EDT |
NYMEX No2 Heating Oil » | 1.86USD | +0.00 | +0.24% | Aug 19 | 1:23AM EDT |
NYMEX Nat Gas » | 2.22USD | +0.00 | +0.18% | Aug 19 | 1:28AM EDT |
ICE NBP Nat Gas » | 31.50GBP | +0.00 | 0.00% | Aug 19 | 7:00PM EDT |
COMMODITY | LAST | CHANGE | % CHANGE | EXP DATE | TIME |
---|---|---|---|---|---|
CBOT Corn » | 360.50USC | +1.00 | +0.28% | Sep 19 | 1:12AM EDT |
CBOT Wheat » | 460.25USC | +0.25 | +0.05% | Sep 19 | 1:20AM EDT |
KCBT Wheat » | 388.25USC | +1.50 | +0.39% | Sep 19 | 1:16AM EDT |
MGE Spring Wheat » | 564.00USC | -1.25 | -0.22% | Dec 02 | 1:00AM EDT |
Euronext Milling Wheat » | 165.50EUR | +0.00 | 0.00% | Sep 19 | 12:29PM EDT |
CBOT Soybean | 859.00USC | +3.25 | +0.38% | Sep 19 | 12:52AM EDT |
Stay tuned…