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

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

$GLD, $SLV, $USO, $OIL, $CORN, $WEAT, $SOY, $USD

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

Just in: Chinese Vice Premier Liu He said Monday that China is willing to resolve its trade dispute with the US through calm negotiations and resolutely opposes the escalation of the conflict. China’s Top trade negotiator, was speaking at a tech conference in Chongqing in southwest China

Headlines

  • China’s RMB Yuan slumps to 11-year lows
  • Crude Oil falls as trade dispute raises recession fears
  • Gold running North on safe-haven rush
  • Shares fall as trade dispute escalates, triggers gold and bond rush

Gold: Gold prices posted a fresh 6 year highs Monday on the escalation of the US-China year-long trade dispute battered global equities and boosted demand for safe-have assets.

  • Spot gold up 0.9% to $1,539.70 oz as of 0414 GMT, having earlier touched $1,554.56 an ounce, its highest since April 2013,
  • US gold futures were up 0.8% at $1,549.50 oz.

Gold was the beneficiary of President Trump’s extra China tariff pile on Friday. The White House clarified that President Trump wished he had raised tariffs on Chinese goods even higher last week.

Energy: Crude Oil prices fell Monday, pushing WTI Crude Oil to its lowest in more than 2 weeks.

  • ICE Brent Crude Oil was down 63c or 1.1%, at $58.71 bbl by 0232 GMT,
  • NYMEX WTI Crude Oil was down 68c, or 1.3%, to $53.49 bbl.

Concerns about an economic slowdown are being fanned by a ratcheting up of trade tensions between the US and China.

Equities: Asian shares off Monday as the latest barbs in the US-China trade dispute shook confidence in the world economy and sent investors steaming to the safe harbor of sovereign bonds and gold, while hammering emerging market currencies.

Global stocks looked set to follow Asia’s slide, with E-Mini futures for the S&P 500 falling 0.7%, and EUROSTOXX 50 futures down 1.1%.

MSCI’s broadest index of Asia-Pacific shares sans Japan -2.0%, and Australia – 1.5%.

Currencies: China’s RMB Yuan slumped to 11-year lows Vs USD Monday and stocks fell as the US-China trade dispute escalated, threatening to inflict more damage on the world’s 2nd largest economy and weigh on global growth.

The onshore RMB Yuan CNY fell 0.6% in early trade to 7.15 USD, its weakest since February 2008 and its 2nd biggest 1-day drop of the month. The offshore RMB Yuan CNH fell to a record low of 7.1850, before regaining some ground to around 7.1595. The PBoC has not yet signaled its bottom line for the RMB Yuan

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,542.60USD+16.50+1.07%Dec 021:19AM EDT
COMEX 100oz Gold »1,543.30USD+16.70+1.08%Aug 199:23PM EDT
Silver Spot »17.65USD+0.26+1.47%Dec 021:19AM EDT
Platinum Spot »861.00USD+7.40+0.86%Dec 021:19AM EDT
Palladium Spot »1,470.60USD+10.09+0.69%Dec 021:19AM EDT
COMEX Copper »2.53USD+0.000.00%Aug 1912:00AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.52USD-0.65-1.21%Sep 191:15AM EDT
ICE Brent Crude »58.74USD-0.60-1.02%Aug 191:15AM EDT
NYMEX RBOB Gasoline »1.64USD-0.00-0.29%Aug 1912:33AM EDT
Dubai Crude Spot »58.03USD-0.60-1.03%Dec 021:26AM EDT
ICE Gas Oil »554.25USD-1.75-0.32%Sep 191:12AM EDT
NYMEX No2 Heating Oil »1.81USD-0.01-0.53%Aug 1911:41PM EDT
NYMEX Nat Gas »2.18USD+0.03+1.15%Aug 191:16AM EDT
ICE NBP Nat Gas »29.84GBP+0.000.00%Aug 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »359.00USC-0.75-0.21%Sep 191:10AM EDT
CBOT Wheat »474.25USC-1.00-0.21%Sep 191:15AM EDT
KCBT Wheat »389.50USC-2.00-0.51%Sep 191:01AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »165.50EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »848.50USC+5.25+0.62%Sep 191:16AM EDT

Have a terrific week

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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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