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

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

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

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

Headlines

  • Crude Oil gains, led by US WTI Crude, recession worries ease
  • JPY stands tall
  • Gold dips, but near 6-yr highs on rate cut hopes, trade fears
  • Asian stocks post modest gains on Wall Street futures

Gold:  Gold eased Wednesday, after rising over 1% in the prior session on fears of a possible recession, but held close to a more than 6-year high on hopes of a rate cut by the Fed and uncertainties around the trade talks.

  • Spot gold was down 0.4% at $1,535.69 oz, as of 0426 GMT,
  • US gold futures were down 0.4% at $1,545.10 oz,
  • Spot silver was steady at $18.16 oz.
  • Asian stocks post modest gains on Wall Street futures

Adding some pressure on was a firm USD, which was up 0.1% Vs Key rivals, while Asian equities posted modest gains.

Energy: Crude Oil prices rose Wednesday, with NYMEX WTI Crude gaining 1% after an industry report showed stockpiles in the United States, the world’s biggest user, fell more than expected, easing worries about economic growth due to the US-China trade dispute.

  • ICE Brent Crude Oil futures rose 42c, or 0.7%, to 59.93 bbl by 0220 GMT,
  • NYMEX WTI Crude Oil futures gained 56c, or 1%, to $55.49 bbl.

US Crude Oil stockpiles fell sharply last week as imports dropped, plummeting by 11.1-M bbl, compared with expectations for a 2-M bbl draw, data from industry group the American Petroleum Institute (API), showed.

Equities: Asian shares gained Wednesday, as higher Wall Street futures provided some relief after a US selloff, though deeper worries about the global economy and trade have capped sentiment.

Japan’s Nikkei rose 0.15%, Australia’s shares climbed 0.13%, while NKorea’s KOSPI was up 0.4%. MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS fell 0.06%, dragged lower by Chinese markets.

US stock futures were 0.27% higher, which helped ease investors’ nerves in Asia

Chinese shares initially opened up Wednesday, then reversed to trade 0.56% lower, showing there are still some concerns about economic growth.

Shares in Hong Kong swung between gains and losses as increasingly violent protests against China’s “one country, two system” rule of the former British colony hurt sentiment.

Currencies: .DXY up 0.1% against Key peers

JPY traded at 105.820 per USD, holding its gains from the prior day, when it advanced 0.35%

EUR was nearly flat at $1.1085  after inching down 0.1% Tuesday when it had managed to recoup some of the intraday losses on hopes that a snap election in Italy could be avoided.

GBP traded near a 1 month high of $1.2310 scaled overnight.

The AUD added to overnight losses and slipped 0.15% to $0.6739

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,537.00USD-5.39-0.35%Dec 021:39AM EDT
COMEX 100oz Gold »1,541.00USD+0.000.00%Aug 197:01PM EDT
Silver Spot »18.23USD+0.07+0.38%Dec 021:39AM EDT
Platinum Spot »870.00USD+4.49+0.52%Dec 021:39AM EDT
Palladium Spot »1,478.00USD-4.02-0.27%Dec 021:39AM EDT
COMEX Copper »2.54USD+0.000.00%Aug 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.50 USD+0.57+1.03%Sep 191:34AM EDT
ICE Brent Crude »59.95 USD+0.44+0.73%Aug 191:30AM EDT
NYMEX RBOB Gasoline »1.66 USD+0.01+0.73%Aug 1910:49PM EDT
Dubai Crude Spot »59.57 USD+0.08+0.13%Dec 021:44AM EDT
ICE Gas Oil »561.25 USD+7.75+1.38%Sep 191:27AM EDT
NYMEX No2 Heating Oil »1.83 USD+0.01+0.63%Aug 191:32AM EDT
NYMEX Nat Gas »2.21 USD+0.00+0.23%Aug 1912:57AM EDT
ICE NBP Nat Gas »28.27 GBP+0.000.00%Aug 1911:59AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »358.00USC+1.00+0.28%Sep 191:42AM EDT
CBOT Wheat »471.75USC-2.00-0.42%Sep 191:30AM EDT
KCBT Wheat »393.25USC+0.50+0.13%Sep 1910:02PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »167.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»846.00USC-0.25-0.03%Sep 1912:35AM 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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