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

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

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

Gold Higher
USD Eased
Crude Oil Off a Bit
Stocks Flat to Little Change

In Asia

Notes: The Federal Open Markets Committee (FOMC) will hold its next policy-setting press conference on 30 January no hike expected.

Officials from Washington and Beijing are set to launch a new round of trade talks on Wednesday aimed at resolving their disputes amid which both sides have slapped hefty import tariffs on each other’s goods.

Gold: Gold prices traded higher Wednesday in Asia and hit 8-month highs ahead of a highly-anticipated meeting between Chinese and US officials later in the day.

Trade discussions between the US and China are likely to be the major directional driver later this week. China’s Vice Premier Liu He is set to begin trade talks with US officials, including President Donald Trump, in Washington Wednesday.

Energy: Crude Oil prices rose Wednesday as concerns about supply disruptions following US sanctions on Venezuela’s oil industry outweighed pressure from a darkening outlook for the global economy.

  • NYMEX WTI Crude Oil futures were at $53.43 bbl at 0644 GMT, +12c, or 0.2%, above Tuesday’s settlement
  • ICE Brent Crude Oil futures rose 21c, or 0.3%, to $61.53 bbl.

Washington announced Monday export sanctions against state-owned oil firm Petroleos de Venezuela SA (PDVSA), limiting transactions between US companies that do business with Venezuela’s state-owned Crude Oil firm PDVSA.

US refiners last week asked the administration not to issue sanctions, according to a letter seen by Reuters Tuesday

Equities: Japan’s Nikkei fell Wednesday, with index component Dainippon Sumitomo Pharma plunging after a clinical trial for a new drug failed to complete, offsetting optimism over a spurt in Apple’s shares.

The Nikkei share average declined 0.5% to 20,556.54, after opening a higher. Though sentiment is weak, the index has managed to stay above its 25-Day MA at 20,325.

US S&P 500 e-mini futures were little changed. They had traded much of the session slightly in positive territory after Apple shares rose 5.7 percent after the bell as the iPhone maker reported sharp growth in its services business.

Currencies: GBP tried to find its footing Wednesday after sliding on fresh concerns about the possibility of a “no-deal” BREXIT, while the USD eased ahead of the Fed’s policy decision.

Vs GBP the EUR was slightly lower at 87.41p having surged 0.8% Tuesday.

The single currency was steady at $1.1435 after brushing a 2-week high of $1.1450 overnight.

.DXY Vs a basket of 6 peer currencies dipped 0.1% to 95.732 following a slip to a 2-week low of 95.620 overnight after US Treasury yields declined ahead of the Fed’s policy statement.

The Buck edged down 0.1% to 109.29 JPY, handing back the prior day’s gains.

The Australian Dollar was up 0.5% at $0.7192, lifted after the country’s consumer prices beat expectations last Quarter.

China’s RMB Yuan extended its gains and advanced to 6.7135 per USD in onshore trade, its strongest mid-July 2018.

Commodities: Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.32 USD+0.01+0.02%Feb 191:57AM EST
ICE Brent Crude »61.39 USD+0.07+0.11%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.36 USD+0.01+0.46%Jan 191:28AM EST
Dubai Crude Spot »60.98 USD+0.000.00%Dec 022:08AM EST
ICE Gas Oil »574.00 USD+1.75+0.30%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.90 USD+0.00+0.01%Jan 191:52AM EST
NYMEX Nat Gas »2.89 USD-0.01-0.45%Feb 191:56AM EST
ICE NBP Nat Gas »55.13 GBP+0.000.00%Jan 197:00PM EST

Metals and Agriculture Grain live quotes N/A

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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