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

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


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


  • Crude Oil hits 6-wk highs on hopes of extended OPEC output cuts
  • Asian stocks mostly weaker on steep Chinese factory price declines
  • Gold hits 4-wk low as stimulus hopes, trade optimism boost risk-on mode
  • JPY, CHF fall as fading risks take shine off safe-havens

Gold:  Gold prices dropped to 4-wk lows Tuesday, as investor appetite for riskier assets found support on hopes of global stimulus and expectations of a breakthrough in the continuing trade dispute.

  • Spot gold was down 0.5% at $1,490.68 oz, as of 0152 GMT,
  • US gold futures were down 0.9% at $1,497.4 oz.

US Treasury Secretary Mnuchin said Monday he did not see the threat of a recession as The Trump Administration seeks to revive trade negotiations with China, adding that he expected a positive year ahead for the US economy

Energy: Crude Oil futures hit a 6-wk high Tuesday, rising for a 5th day running on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.

  • ICE Brent Crude Oil LCOc1 was up 26c, or 0.4%, at $62.85 bbl by 0349 GMT,
  • NYMEX WTI Crude Oil CLc1 was 27c, or 0.5%, higher at $58.12 bbl.

US Crude Oil gained more than 2% Monday, Brent finished the day 1.7% higher as the market reacted to the appointment by Saudi Arabia’s King of his son, Prince Abdulaziz bin Salman, as energy minister Sunday.

Equities: Most Asian stocks are lower Tuesday, weighed by Chinese markets after data showed mainland factory prices shrinking at their fastest pace in 3 years while reports of German stimulus plans pushed global bond prices down.

The data pushed blue chip shares in China .CSI300 down 0.76%, which in turn drove an index of Asian stocks sana of Japan .MIAPJ0000PUS 0.3% lower, having traded flat earlier in the session.

US stock futures ESc1 were down 0.08% in Asia after the S&P 500 .SPX ended flat in New York Monday.

Australian shares were down 0.49%.

Bucking the trend, Japan’s Nikkei stock index .N225 rose 0.2%.

Currencies: .DXY flat Vs a basket of peer currencies at 98.359

JPY and CHF fell to 5-wk lows Tuesday as investors looked for higher-risk currencies, emboldened by a report of German stimulus plans, diminishing chances of a no-deal BREXIT and hopes of a trade dispute breakthrough.

GBP stood just under a 6-wk high at $1.2385, hit overnight after a British law blocking a no-deal exit from the EU came into force.

The SKorean Won and New Zealand Dollar drifted higher, Won holding close to a month high at 1,191.0 per USD and the Kiwi close to a 3-wk high at $0.6434.

 RMB Yuan held mostly flat around 7.1169 per dollar.

Traders remained cautious ahead of a Key European Central Bank meeting Thursday, at which policymakers are expected to ease monetary policy.

EUR was flat at $1.1043, underneath an overnight high of $1.1067 hit following a Reuters report that Germany may set up public investment agencies to boost fiscal stimulus without breaching national spending rules.

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

Gold Spot »1,489.20USD-9.45-0.63%Dec 022:08AM EDT
COMEX 100oz Gold »1,488.00USD-14.20-0.95%Sep 1911:02PM EDT
Silver Spot »17.85USD-0.11-0.62%Dec 022:08AM EDT
Platinum Spot »933.18USD-13.06-1.40%Dec 022:08AM EDT
Palladium Spot »1,541.35USD-2.66-0.17%Dec 022:08AM EDT
COMEX Copper »2.61USD+0.000.00%Sep 197:01PM EDT
NYMEX Crude Oil »58.11USD+0.26+0.45%Sep 192:07AM EDT
ICE Brent Crude »62.83USD+0.24+0.38%Sep 192:07AM EDT
NYMEX RBOB Gasoline »1.59USD+0.01+0.55%Sep 192:07AM EDT
Dubai Crude Spot »61.19USD+0.11+0.18%Dec 022:17AM EDT
ICE Gas Oil »592.25USD+0.000.00%Sep 192:05AM EDT
NYMEX No2 Heating Oil »1.93USD+0.01+0.33%Sep 192:02AM EDT
NYMEX Nat Gas »2.60USD+0.02+0.69%Sep 192:07AM EDT
ICE NBP Nat Gas »31.43GBP+0.000.00%Sep 197:00PM EDT
CBOT Corn »344.00USC+3.25+0.94%Sep 198:07PM EDT
CBOT Wheat »468.00USC-6.50-1.39%Sep 198:42PM EDT
KCBT Wheat »375.00USC-5.00-1.33%Sep 198:00PM EDT
MGE Spring Wheat »564.00USC-1.25-0.22%Dec 021:00AM EDT
Euronext Milling Wheat »153.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean»845.00USC+0.000.00%Sep 195:39PM EDT

Stay tuned…

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