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

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

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

Gold Up
USD Firm
Crude Oil Up
Stocks Higher

In Asia

Note: China closed all week for the Lunar New Year

The Cboe Volatility (VIX) Index, Wall Street’s so-called “fear gauge,” dropped to 15.60, its lowest level in 4 months, Monday. $VXX

Gold: Gold rose Tuesday in thin trading as investors made purchases after prices touched 1-week lows Monday, but improved appetite for riskier assets capped bullion’s gains.

  • Spot gold had risen 0.2% to $1,314.10 oz by 0651 GMT
  • US gold futures were firm at $1,318.10 oz

Among other precious metals

  • Palladium was down 0.1% at $1,362.73 oz
  • Silver rose 0.3% to $15.90 oz
  • Platinum was steady at $816.77 oz

Liquidity was low in Asia’s gold markets, with much of the region on holiday for the Lunar New Year.

Energy: US Crude Oil prices are up Tuesday, on expectations of tightening global supply due to US sanctions on Venezuela and production cuts led by OPEC.

  • NYMEX WTI Crude Oil futures were at $54.77 bbl at 0223 GMT, +21c, or 0.4%
  • ICE Brent Crude Oil futures were at $62.72 bbl, +21c, or 0.4%

Analysts said that US sanctions on Venezuela had focused market attention on tighter global supplies.

Equities: Asian stocks extended gains Tuesday as overnight strength on Wall Street and the Fed’s cautious turn underpinned appetite for riskier assets, while USD held firm on last week’s upbeat US data.

European shares are expected to open higher, with financial spread-betters seeing Britain’s FTSE, France’s CAC, Germany’s DAX to tick up between 0.3 and 0.5% each.

MSCI’s broadest index of Asia-Pacific shares sans Japan advanced 0.5% and is hanging near its 4-month highs marked Friday.

Japan’s Nikkei average marked its highest mark in 7 weeks, but finished the day down 0.2%.

Australian shares jumped 2%, with long-battered financials surging on short-covering after a special government-appointed inquiry excoriated Australia’s financial sector for misconduct but left the structure of the country’s powerful banks in place.

Elsewhere in Asia, trade was light, with markets in greater China, Taiwan, SKorea, Singapore and Indonesia all closed for the Lunar New Year.

Currencies: USD held recent gains against its major peers as investors continued to relish Friday’s strong payrolls number and a manufacturing survey.

.DXY the USD index measure Vs major currencies was little changed at 95.847, having gained 0.27% Monday.

EUR was also steady at $1.1431, off 3-week high of $1.15405 set last Thursday.

The Buck was flat at 109.91 JPY, having risen to 110.165 overnight, its highest mark in 5 weeks.

The GBP was flat at $1.3040.

Commodities: Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »54.71 USD+0.15+0.27%Feb 192:01AM EST
ICE Brent Crude »62.59 USD+0.08+0.13%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.43 USD-0.00-0.04%Feb 192:00AM EST
Dubai Crude Spot »62.70 USD-0.10-0.16%Dec 022:09AM EST
ICE Gas Oil »582.75 USD+2.25+0.39%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.91 USD+0.00+0.22%Feb 191:58AM EST
NYMEX Nat Gas »2.66 USD-0.00-0.15%Feb 192:01AM EST
ICE NBP Nat Gas »50.66 GBP+0.000.00%Feb 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,313.61USD+1.92+0.15%Dec 027:00PM EST
COMEX 100oz Gold »1,314.40USD+0.10+0.01%Feb 191:00AM EST
Silver Spot »15.88USD+0.02+0.11%Dec 027:00PM EST
Platinum Spot »820.10USD+2.60+0.32%Dec 027:00PM EST
Palladium Spot »1,363.31USD-1.19-0.09%Dec 027:00PM EST
COMEX Copper »2.81USD+0.02+0.60%Feb 1911:18PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »379.75USC+0.50+0.13%Mar 192:08AM EST
CBOT Wheat »524.50USC-1.25-0.24%Mar 192:05AM EST
KCBT Wheat »509.50USC-1.00-0.20%Mar 192:06AM EST
MGE Spring Wheat »574.75USC+0.000.00%Mar 1911:52PM EST
Euronext Milling Wheat »204.50EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »918.25USC-0.25-0.03%Mar 192:09AM EST

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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