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

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

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

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

Headlines

  • Crude Oil prices mixed as market eyes trade dispute
  • Gold prices ease as firmer USD weighs
  • Stocks hurt by trade tensions
  • USD up, GBP hurt by BREXIT uncertainty

Gold: Gold prices fell Tuesday as USD gained, making the bullion costlier for investors holding other currencies, but fears of a global economic slowdown fuelled by intensifying US-China trade dispute has prices near multi-year highs.

  • Spot gold down 0.3% to 1,525.64 oz at 0111 GMT near its highest level since April 2013 at 1,554.56 marked last week,
  • US gold futures were up 0.3% at 1,533.8 oz.

.DXY was at its highest in more than 2 years Vs a basket of peer currencies, while global stocks were hit by US-China trade frictions.

Energy: Crude Oil prices were mixed Tuesday as the ongoing US-China trade dispute dampened markets, with soft SKorean data adding to concerns over emerging markets and a rise in OPEC output.

  • NYMEX WTI Crude Oil was down 21c, or 0.4%, at $54.89 bbl by 0244 GMT,
  • ICE Brent Crude Oil was 5c higher at $58.71 bbl.

Output from OPEC rose in August for the 1st month this year as higher supply from Iraq and Nigeria outweighed restraint by Saudi Arabia and losses caused by US sanctions on Iran.

Equities: Global stocks were hit by US-China trade frictions Tuesday while GBP flirted with 2.5-year lows as PM Johnson indicated he could call an election to stymie lawmakers’ efforts to avert a no-deal BREXIT.

No one really thinks that near term Washington and Beijing will solve the the issues. But as long as the US economy keeps going, stock prices will have limited Southside

MSCI’s broadest index of Asia-Pacific shares sans Japan shed 0.2% in early trade while Japan’s Nikkei was flat.

Currencies: GBP traded at $1.2063, little changed so far Tuesday after having dropped 0.85% Monday. 

 EUR fell to a 2-year low of $1.09555 in early Tuesday trade.

The offshore Chinese RMB Yuan also dropped to a record low of 7.1975/USD. while AUD fetched $0.67145, not far from a 10 year-low of $0.66775 hit last month.

Argentine Peso closed 0.88% stronger in official markets, but closed 0.79% weaker on the black market at 63.5/USD.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,525.19USD-5.15-0.34%Dec 0212:18AM EDT
COMEX 100oz Gold »1,521.00USD+1.90+0.12%Sep 1911:04PM EDT
Silver Spot »18.41USD-0.04-0.22%Dec 0212:18AM EDT
Platinum Spot »931.78USD+2.04+0.22%Dec 0212:18AM EDT
Palladium Spot »1,537.96USD+6.95+0.45%Dec 0212:18AM EDT
COMEX Copper »2.52USD-0.02-0.66%Sep 1911:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »54.84USD-0.26-0.47%Sep 1912:14AM EDT
ICE Brent Crude »58.64USD-0.02-0.03%Sep 1912:15AM EDT
NYMEX RBOB Gasoline »1.50USD-0.03-2.00%Sep 1912:14AM EDT
Dubai Crude Spot »57.18USD+0.11+0.19%Dec 0212:23AM EDT
ICE Gas Oil »558.50USD+3.00+0.54%Sep 1911:59PM EDT
NYMEX No2 Heating Oil »1.81USD-0.02-1.25%Sep 1912:00AM EDT
NYMEX Nat Gas »2.32USD+0.03+1.34%Sep 1912:15AM EDT
ICE NBP Nat Gas »30.57GBP+0.000.00%Sep 1911:59AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »358.50USC+0.50+0.14%Sep 199:47PM EDT
CBOT Wheat »451.50USC+0.25+0.06%Sep 1910:06PM EDT
KCBT Wheat »380.00USC+1.75+0.46%Sep 199:13PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »163.75EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»852.25USC-4.75-0.56%Sep 199:00PM 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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