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

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

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

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

Headlines

  • 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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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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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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