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Monday, September 20, 2021

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


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


  • Asia stocks gain as soft data lift stimulus hopes
  • Crude Oil rises as Saudi Arabia signals OPEC cuts to continue
  • Gold inches higher, improved risk appetite caps gains
  • USD was capped as US yields came off 2-week highs

Gold: Gold prices are higher Monday as expectations of monetary policy easing by major central banks gathered momentum on soft economic data, although an uptick in equities limited gains in the precious Yellow metal.

  • Spot gold was up 0.2% at $1,509.45 oz, as of 0351 GMT,
  • US Dec 19 gold futures were up 0.2%, at $1,517.9 oz,
  • Spot silver dipped 0.6% to $18.04 oz.

Energy: Crude Oil rose Monday on expectations that Saudi Arabia, the world’s largest exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman.

  • ICE Brent Crude Oil was up 53c, or 0.9%, at $62.07 bbl by 0425 GMT,
  • NYMEX WTI Crude Oil was up 57c, or 1%, higher at $57.09 bbl.

Prices climbed for a 4th day running, and were also supported by comments from the United Arab Emirates’ energy minister that OPEC and its allies are committed to balancing the crude market.

Equities: Asian stocks are higher Monday, on a cautious mood as investors pinned their hopes on expected global stimulus to support slowing growth in the world’s major economies.

Global equity markets received a lift after the PBoC Friday cut how much cash banks must hold in reserve, releasing liquidity to shore up an economy hit by the US trade conflict.

MSCI’s broadest index of Asia-Pacific shares sans Japan .MIAPJ0000PUS added 0.2%. The Shanghai Composite Index .SSEC was up 0.6%.

SKorea’s KOSPI .KS11 rose 0.6% and Japan’s Nikkei .N225 advanced 0.5%.

Tracking the cautious optimism in Asia, the pan-region Euro Stoxx 50 futures STXEc1 was up 0.1%, German DAX futures FDXc1 added 0.25% and Britain’s FTSE futures FFIc1 gained 0.3% in early European trade.

Buoying market confidence Monday were expectations that the European Central Bank would cut interest rates Thursday.

Currencies: USD was capped as US yields came off 2-week highs after Friday’s soft U.S. jobs report also raised expectations for a Fed rate cut.

The Buck traded at 106.890 JPY, off the 1-month high of 107.235 scaled late last week.

EUR steady at $1.1027 weighed down ahead of Thursday’s ECB policy decision and near a 28-month low of $1.0926 set last week.

AUD sensitive to shifts in broader risk appetite, hanging near a 5-week high at $0.6862 set Friday.

GBP was little changed at $1.2277 off a bounce from a 3-year low set a week ago as the threat of the UK leaving the EU without a deal on 31 October was seen to diminish.

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

Gold Spot »1,508.50USD+1.80+0.12%Dec 022:28AM EDT
COMEX 100oz Gold »1,509.00USD+2.80+0.19%Sep 199:07PM EDT
Silver Spot »18.03USD-0.13-0.74%Dec 022:28AM EDT
Platinum Spot »948.88USD-0.89-0.09%Dec 022:28AM EDT
Palladium Spot »1,540.66USD+3.91+0.25%Dec 022:28AM EDT
COMEX Copper »2.61USD-0.00-0.08%Sep 198:40PM EDT
NYMEX Crude Oil »57.18USD+0.66+1.15%Sep 192:25AM EDT
ICE Brent Crude »62.21USD+0.67+1.08%Sep 192:25AM EDT
NYMEX RBOB Gasoline »1.58USD+0.01+0.58%Sep 192:24AM EDT
Dubai Crude Spot »55.23USD-4.55-8.24%Dec 022:34AM EDT
ICE Gas Oil »586.75USD+11.25+1.92%Sep 192:24AM EDT
NYMEX No2 Heating Oil »1.92USD+0.02+0.90%Sep 192:25AM EDT
NYMEX Nat Gas »2.50USD+0.01+0.24%Sep 192:24AM EDT
ICE NBP Nat Gas »31.96GBP+0.000.00%Sep 197:00PM EDT
CBOT Corn »342.50USC+0.000.00%Sep 195:16PM EDT
CBOT Wheat »460.25USC+0.000.00%Sep 195:26PM EDT
KCBT Wheat »375.25USC+0.000.00%Sep 195:21PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »158.50EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »845.00USC+0.000.00%Sep 195:25PM EDT

Have a terrific week.

HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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