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

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


In Asia

Note: Presidents Trump and Xi spoke Sunday, tone was optimistic as US trade representatives arrived in Beijing for official trade talks Monday.

Gold: Gold rose Monday, helped by a weaker USD on expectations that the Fed may/will apply brakes on its monetary tightening cycle in Y 2019, an improved risk appetite limits gains for the safe-haven metal.

Gold also benefited from the diminished risk of US rate hikes and held at $1,288.81 just off a 6-month high.

Energy: Crude Oil prices rose by more than 1% Monday, driven up by optimism that talks in Beijing can resolve the trade dispute between the US and China, plus supply cuts by major producers also supported the prices.

  • ICE Brent Crude Oil futures were at $57.86 bbl at 0538 GMT, +80c, or 1.4%, from Friday’s close.
  • NYMEX WTI Crude Oil futures were at $48.77 bbl, +81c, or 1.7%.

Note: The US supply glut remains a Bearish concern,

Asian financial markets were riding a relief rally Monday on expectations that face-to-face trade negotiations between delegates from Washington and Beijing, starting Monday, would lead to an easing in tensions between the 2 biggest economies in the world.

Equities: Asian shares turned North Monday as a Dovish turn by the Fed and very strong US jobs data soothed some of the market’s worst fears about the global economic outlook.

Shanghai blue chips rose 0.4%, having already climbed over 2% Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS put on 1.3%.

Japan’s Nikkei +2.8$, while SKorea added 1.2%. E-Mini futures for the S&P 500 climbed another 0.4%.

Currencies: The Aussie was up at $0.7137 Monday, having briefly dived as deep as $0.6715 last Thursday.

The US Dollar (.DXY) Index softened broadly with the EUR edging up to $1.1428 and .DXY easing 0.2% to 95.971. The Buck could not even hold early gains on JPY, lapsing back to 108.05.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »48.68 USD+0.72+1.48%Jan 191:03AM EST
ICE Brent Crude »57.77 USD+0.71+1.23%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.37 USD+0.02+1.67%Jan 191:01AM EST
Dubai Crude Spot »56.39 USD+0.82+1.45%Dec 021:13AM EST
ICE Gas Oil »539.50 USD+11.00+2.04%Jan 197:00PM EST
NYMEX No2 Heating Oil »1.79 USD+0.02+1.15%Jan 191:03AM EST
NYMEX Nat Gas »2.97 USD-0.07-2.46%Jan 191:03AM EST
ICE NBP Nat Gas »63.55 GBP+0.000.00%Jan 197:00PM EST
Gold Spot »1,291.04USD+6.21+0.48%Dec 027:00PM EST
COMEX 100oz Gold »1,282.70USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.77USD+0.08+0.50%Dec 027:00PM EST
Platinum Spot »825.50USD+3.00+0.36%Dec 027:00PM EST
Palladium Spot »1,307.50USD+6.76+0.52%Dec 027:00PM EST
COMEX Copper »2.64USD-0.01-0.26%Jan 1910:33PM EST
CBOT Corn »382.50USC-0.50-0.13%Mar 191:12AM EST
CBOT Wheat »516.50USC-0.50-0.10%Mar 191:14AM EST
KCBT Wheat »505.25USC-0.75-0.15%Mar 191:14AM EST
MGE Spring Wheat »569.50USC-0.75-0.13%Mar 191:00AM EST
Euronext Milling Wheat »207.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »913.00USC+3.50+0.38%Jan 199:43PM EST

Have a terrific week

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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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