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

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

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

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

Headlines

  • Crude Oil prices rise after US confirms trade talks with China to re-start.
  • Gold eases as equities gain on BREXIT, Hong Kong progress.
  • Asian shares up as BREXIT, Hong Kong progress lifts sentiment.
  • Trade talk plans cheer risk currencies, hit safe-haven JPY

Gold: Gold prices fell early Thursday, with an uptick in equities propped up by positive developments around BREXIT deadlock and Hong Kong protests, but prices hang near 6-year high hit in the last session on persistent concerns about slowing global growth.

  • Spot gold was 0.5% lower at $1,544.66 oz at 0133 GMT,
  • US gold futures were down 0.2% at $1,557.8 oz.

Holdings in SPDR Gold Trust (GLD) the world’s largest gold-backed ETF, rose 0.66% to 895.90 tonnes Wednesday.

Energy: Crude Oil prices rose Thursday, up from earlier losses, after the US confirmed that talks with China to reach a trade agreement would be held in the coming weeks, giving hope that a dispute that has global economies at risk.

  • ICE Brent Crude Oil was up 21c, or 0.4%, at $60.91 bbl by 0301 GMT,
  • NYMEX WTI Crude Oil was up 17c or 0.3%, at $56.43 bbl.

Crude Oil inventories in the United States rose by 401,000 bbl in the week ended 30 August to 429.1-M, compared with analysts’ expectations for a decrease of 2.5-M bbl.

Equities: Asian stocks up Thursday, as apparent progress in the political crises in Britain and Hong Kong gave investor confidence a shot in the arm.

MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.24%. US Treasury yields extended gains in Asia and the yield curve steepened, both signs that investors were willing to take on riskier assets.

Traders will watch closely to see whether shares in Hong Kong are able to extend those gains or whether they fall on concerns about relations with Beijing.

Currencies: The Chinese RMB Yuan jumped Vs USD in offshore trade, while safe-have assets such as gold and JPY fell.

GBP held onto gains Vs USD in Asia after rallying the most in more than 5 months Wednesday after lawmakers voted to prevent Prime Minister Boris Johnson taking Britain out of the EU without a deal on 31 October.

Against a basket of peer currencies, .DXY lifted a little from a 1-week low to 98.492.

The Canadian dollar spiked sharply to C$1.3344/USD after the Bank of Canada left interest rates on hold and sounded less dovish than the market had expected.

Australian dollar rose to a 1 month high of $0.6825, seen as a technical resistance mark, while the New Zealand dollar hit a 1-week high at $0.6377. The trade-exposed SKorea’s Won climbed the most of Asia’s currencies to 1198.00/USD.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,544.51USD-7.84-0.51%Dec 0212:39AM EDT
COMEX 100oz Gold »1,545.00USD-5.30-0.34%Sep 1911:46PM EDT
Silver Spot »19.41USD-0.16-0.83%Dec 0212:39AM EDT
Platinum Spot »985.85USD+0.61+0.06%Dec 0212:38AM EDT
Palladium Spot »1,557.35USD+4.51+0.29%Dec 0212:38AM EDT
COMEX Copper »2.60USD+0.02+0.77%Sep 1910:48PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »56.15USD-0.11-0.20%Sep 1912:35AM EDT
ICE Brent Crude »60.63USD-0.07-0.12%Sep 1912:35AM EDT
NYMEX RBOB Gasoline »1.53USD-0.00-0.22%Sep 1912:31AM EDT
Dubai Crude Spot »58.55USD+0.14+0.24%Dec 0212:44AM EDT
ICE Gas Oil »577.50USD+3.50+0.61%Sep 1912:22AM EDT
NYMEX No2 Heating Oil »1.88USD+0.00+0.21%Sep 1912:34AM EDT
NYMEX Nat Gas »2.44USD-0.00-0.12%Sep 1912:34AM EDT
ICE NBP Nat Gas »30.88GBP+0.000.00%Sep 1911:59AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »348.25USC+2.25+0.65%Sep 1912:09AM EDT
CBOT Wheat »456.25USC+0.000.00%Sep 195:12PM EDT
KCBT Wheat »374.00USC+0.000.00%Sep 195:06PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »158.25EUR+0.000.00%Sep 1912:28PM EDT
CBOT Soybean»862.50USC+0.000.00%Sep 195:11PM 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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