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

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

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

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

Headlines

  • Crude Oil prices recover some, but economic concerns weigh
  • Asia stocks bounce, Chinese lead
  • Gold, silver surge after weak US data compounds slowdown fears
  • USD is being seen as a safe-haven asset

Gold: Gold rose more than 1% Tuesday after weak manufacturing data from the United States reinforced fears of an economic downturn, while uncertainties over U.S.-China trade ties and BREXIT further boosted bullion’s safe-haven appeal.

  • Spot gold rose 1% to $1,546.30 oz at 1734 GMT,
  • US Dec 19 gold futures settled up 1.7% at $1,555.90 oz.

Silver followed gold’s rally and rose 3.7% breaching the $19 mark for the 1st time since October 2016 at $19.14 oz.

Energy: Crude prices recovered Wednesday after touching their lowest in close to a month during the prior session on concerns that a weakening global economy could depress demand.

  • ICE Brent Crude Oil was up 12c, or 0.21%, at $58.38 bbl by 0425 GMT,
  • NYMEX WTI Crude Oil futures gained 20c, or 0.37%, at $54.14 bbl.

Global markets bounced Wednesday after a private survey showed that activity in China’s services sector expanded at the fastest pace in 3 months in August as new orders rose, prompting the biggest increase in hiring in over a year.

Equities: Asian stocks bounced Wednesday, led by Chinese markets after a report showed growth in the country’s service sector accelerating despite broader economic headwinds, while GBP halted its decline on hopes a no-deal BREXIT may be averted yet.

The Shanghai Composite Index added 0.45% while the blue-chip CSI300 index gained 0.5% after activity in China’s services sector expanded at the fastest pace in 3 months in August, according to a business survey.

MSCI’s index of Asia-Pacific shares sans Japan snapped 2 days of losses and gained 0.5%.

Australian stocks lost 0.75% and Japan’s Nikkei was little changed.

Currencies: .DXY Vs a basket of 6 peer currencies stood at 98.938 after rising overnight to 99.37, its highest mark since May 2017, having lost some ground in the wake of Tuesday’s poor ISM reading.

EUR steady at $1.0973 after sliding to a 28-month low of $1.0926 overnight as investors braced for a potential interest rate cut by the ECB next week.

GBP was last up 0.1% at $1.2097 after falling on Tuesday to $1.1959, the lowest level since October 2016.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,542.90USD-3.80-0.25%Dec 021:49AM EDT
COMEX 100oz Gold »1,542.00USD-3.90-0.25%Sep 191:09AM EDT
Silver Spot »19.44USD+0.21+1.08%Dec 021:48AM EDT
Platinum Spot »969.00USD+11.25+1.16%Dec 021:48AM EDT
Palladium Spot »1,547.00USD+4.99+0.32%Dec 021:48AM EDT
COMEX Copper »2.53USD+0.02+0.61%Sep 191:30AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »54.18USD+0.24+0.44%Sep 191:52AM EDT
ICE Brent Crude »58.44USD+0.18+0.31%Sep 191:52AM EDT
NYMEX RBOB Gasoline »1.47USD+0.00+0.12%Sep 191:50AM EDT
Dubai Crude Spot »56.65USD+0.19+0.34%Dec 022:02AM EDT
ICE Gas Oil »555.25USD+4.25+0.77%Sep 191:44AM EDT
NYMEX No2 Heating Oil »1.81USD+0.00+0.19%Sep 191:47AM EDT
NYMEX Nat Gas »2.34USD-0.01-0.60%Sep 191:53AM EDT
ICE NBP Nat Gas »31.54GBP+0.000.00%Sep 1911:55AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »350.00USC+0.25+0.07%Sep 198:55PM EDT
CBOT Wheat »447.25USC+0.000.00%Sep 195:34PM EDT
KCBT Wheat »367.50USC+5.50+1.50%Sep 1912:36AM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »161.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»856.50USC+0.000.00%Sep 195:33PM 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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