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

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

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

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

Headlines

  • Crude Oil set for biggest weekly gainer since July
  • JPY is the best performer among major currencies this month, rising 2.2% so far.
  • Asian shares at 1-week highs

Gold: Gold extended losses Friday and was set to post its 1st weekly fall in 5, as positive developments around the US-China trade negotiations rekindled investors appetite for riskier assets.

Gold prices are set for a 4th straight monthly gainer on concerns about a slowdown in global economic growth.

  • Spot gold slipped 0.2% to $1,524.43 oz as of 0404 GMT, on the week, it is headed for a loss of about 0.1%,
  • US gold futures down 0.2% at $1,533.50 oz.

Gold marked a more than 6-year high of $1,554.56 Monday and is set to rise about 8% on the month.

Energy: Crude Oil prices Friday were set for their biggest weekly gains since early July, boosted by a decline in US inventories and a looming hurricane in Florida, while new signs of trade talks between the United States and China emerged

  • ICE Brent Crude Oil was up 8c, or 0.1%, at $61.16 bbl by 0420 GMT,
  • NYMEX WTI Crude Oil fell 7 cents, or 0.1%, to $56.64 bbl. The contract is set for a gainer of more than 4% this week.

The frothy price action emphasizes the store that energy markets place on trade progress to support further gains in prices going forward, what is given, can be taken away though, and the rally looks more like it’s running on vapor than gasoline.

Equities: Asian shares rose to a 1-week high Friday as the US and China returned to the negotiating table to resolve their tariff dispute and on hopes central banks and governments will do more to avert a global growth slowdown.

All Asian stock markets were in Green Friday, sending MSCI’s broadest index of Asia-Pacific shares sans Japan up 1%.

E-Minis for the S&P500 added 0.2% after more than 1% gainer on Wall Street Thursday and futures for Eurostoxx50 rose 0.3%.

Japan’s Nikkei +1.2%, while SKorea’s KOSPI index gained 1.7% and Australian shares were 0.9% higher.

Currencies: USD being supported by investors’ month-end rebalancing needs, which has helped lift .DXY to its highest mark in a month, it is seen last up 0.1% at 98.555.

GBP traded at $1.2183, on course to post its 1st weekly loss in 3 on growing worries about a no-deal BREXIT at the end of October.

EUR eased 0.12% to $1.1043, near a 4-week low of $1.1042 marked Thursday.

CHF which has gained 0.7% so far this month, to 0.9879 per USD.

JPY held flat at 106.49 per USD off this week’s low of 106.68.

NZD dropped 0.30% to a 4-year low of $0.6290. It is the worst performing G-10 currency this month with a decliner of 4.1%.

AUD often seen as a proxy bet on the Chinese economy, fell 0.31% to $0.67095

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,526.10USD-1.30-0.09%Dec 021:19AM EDT
COMEX 100oz Gold »1,524.60USD-1.90-0.12%Sep 1912:59AM EDT
Silver Spot »18.26USD+0.02+0.13%Dec 021:19AM EDT
Platinum Spot »918.11USD+1.94+0.21%Dec 021:19AM EDT
Palladium Spot »1,485.18USD+10.67+0.72%Dec 021:19AM EDT
COMEX Copper »2.56USD+0.00+0.02%Sep 1912:54AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »56.56 USD-0.15-0.27%Sep 191:13AM EDT
ICE Brent Crude »61.10 USD+0.02+0.03%Aug 1912:55AM EDT
NYMEX RBOB Gasoline »1.68 USD-0.00-0.08%Aug 191:04AM EDT
Dubai Crude Spot »59.93 USD-0.19-0.32%Dec 021:22AM EDT
ICE Gas Oil »574.25 USD+2.50+0.44%Sep 191:07AM EDT
NYMEX No2 Heating Oil »1.86 USD+0.000.00%Aug 194:23PM EDT
NYMEX Nat Gas »2.29 USD-0.01-0.48%Sep 191:11AM EDT
ICE NBP Nat Gas »33.60 GBP+0.000.00%Sep 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »360.50USC+0.75+0.21%Sep 191:21AM EDT
CBOT Wheat »459.75USC-10.00-2.18%Sep 1911:11PM EDT
KCBT Wheat »384.75USC-2.50-0.65%Sep 1910:19PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »165.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »855.75USC-0.50-0.06%Sep 198:52PM EDT

Have a terrific weekend

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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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