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Saturday, October 16, 2021

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


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


  • JPY rises as traders temper optimism over US-China trade deal
  • Asia stocks climb as trade war fears ebb
  • Crude Oil up as US-China trade comments calm markets
  • Gold little changed as traders seek clarity

Gold: Gold prices were largely steady Tuesday, retreating from an over 6-year highs hit in the Monday’s session, as President Trump signalled a possible reconciliation with China, calming worries about an escalation in their trade dispute

  • Spot gold was up 0.1% to $1,528.10 oz, as of 0347 GMT,
  • US gold futures were up 0.1% to $1,538 oz.

Prices are steady because of the conciliatory tone both China and Trump sounded Monday; the market started to hope that there is some deal coming out of the trade dispute.

Energy: Crude Oil prices rose Tuesday after President Trump predicted a trade deal with China after positive comments by Beijing, calming nerves.

  • ICE Brent Crude Oil was up by 25c, or 0.4%, at $58.95 l by 021bb4 GMT,
  • NYMEX WTI Crude Oil was up by 30c or 0.6% at $53.94 bbl.

Crude Oil prices have fallen around 20% from highs marked in April, in part because of worries that the US-China trade conflict is hurting the global economy, which could dent demand.

Equities: Asian stocks rose in step with their global peers while safe-haven bonds retreated Tuesday, as signs US-China trade hostilities might be easing for now helped restore investor confidence

MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.3% after dropping 1.3% the prior day.

The Shanghai Composite Index advanced 1%.

SKorea’s KOSPI added 0.8% and Japan’s Nikkei rose 1.1%.

Equity markets may have found traction for now but the longer-term outlook for risk assets.

Currencies: JPY rose Tuesday as some investors tempered their optimism about the chances for a quick resolution to the US-China trade dispute, which boosted so-called risk-off trades.

The yen JPY=EBS rose around 0.4% in Asian trading to 105.73 per USD.

JPY, which tends to be bought in times of economic uncertainty, also rose around 0.4% Vs the Australian and New Zealand Dollars.

.DXY measuring the Buck Vs a basket of 6 peer currencies fell 0.06% to 97.960.

Prior to market opening, the People’s Bank of China lowered its official onshore RMB Yuan midpoint CNY=PBOC to 7.0810 per USD. That was a fresh 11.5-year low, but still at a stronger setting than traders had expected. The onshore RMB Yuan had slipped as much as 0.7% at 1 point Monday

EUR stood at $1.1105 EUR=, up 0.05% so far in Asia.

GBP traded at $1.2215 after a 0.5% fall Monday as investors reassessed whether British Prime Minister Boris Johnson had made any progress in convincing the EU to renegotiate the BREXIT agreement.

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

Gold Spot »1,528.80USD+2.80+0.18%Dec 021:29AM EDT
COMEX 100oz Gold »1,526.30USD+0.000.00%Aug 197:01PM EDT
Silver Spot »17.68USD+0.05+0.31%Dec 021:29AM EDT
Platinum Spot »858.00USD+3.00+0.35%Dec 021:29AM EDT
Palladium Spot »1,476.90USD+3.39+0.23%Dec 021:29AM EDT
COMEX Copper »2.54USD+0.000.00%Aug 197:01PM EDT
NYMEX Crude Oil »53.91USD+0.27+0.50%Sep 191:34AM EDT
ICE Brent Crude »58.97USD+0.27+0.46%Aug 191:33AM EDT
NYMEX RBOB Gasoline »1.62USD+0.01+0.35%Aug 191:09AM EDT
Dubai Crude Spot »58.03USD-0.06-0.10%Dec 021:44AM EDT
ICE Gas Oil »554.75USD-3.25-0.59%Sep 1912:51AM EDT
NYMEX No2 Heating Oil »1.80USD+0.01+0.43%Aug 191:08AM EDT
NYMEX Nat Gas »2.23USD-0.00-0.18%Aug 191:34AM EDT
ICE NBP Nat Gas »29.84GBP+0.000.00%Aug 197:00PM EDT
CBOT Corn »358.50USC+0.000.00%Sep 191:18AM EDT
CBOT Wheat »471.25USC-1.75-0.37%Sep 191:19AM EDT
KCBT Wheat »388.25USC-0.75-0.19%Sep 1912:11AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »166.25EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »849.50USC-4.25-0.50%Sep 191:29AM EDT

Stay tuned…

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