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

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

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

Gold Steady
USD Firm
Crude Oil Up
Stocks Subdued

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.

Gold: Gold prices held firm Wednesday after US President Trump, in his State of the Union speech, vowed to build a border wall and gave little clarity over the ongoing trade discussions with China, but a firmer dollar capped bullion’s gains.

  • Spot gold was steady at $1,314.30 oz, as of 0546 GMT.
  • US gold futures were steady at $1,318.20 oz.

Market participants are keenly aware of the fact that global macro numbers are slowing. Gold as an investment is very much in the reckoning

Energy: Saudi Arabia and its Persian Gulf allies were proposing a formal partnership with a 10-nation group led by Russia to try to manage the global Crude Oil market, an alliance that could transform the cartel.

  • NYMEX WTI Crude Oil futures were at $53.74 bbl at 0153 GMT, + 8c from their last settlement. .
  • ICE Brent Crude Oil were at $62.05 bbl, +7c above prior session.

Equities: Asian shares were subdued Wednesday after US President Trump’s State of the Union speech failed to give markets fresh trading catalysts, while the Aussie (AUD) slumped after the central bank opened the door to a rate cut.

MSCI’s broadest index of Asia-Pacific shares sans Japan barely moved with China and several other markets in the region still closed for the Lunar New Year holiday.

Japan’s Nikkei gained 0.3%, while E-Mini futures for the S&P 500 edged higher. Australian shares advanced 0.5%, rising for a 3rd session running.

Currencies: USD held up well thanks in part to a retreat in GBP, which hit 2-week lows at $1.2923 in early trade after poor survey data and uncertainty about BREXIT talks pushed it below a Key support.

Against a basket of currencies, USD was firm at 96.104, above last week’s low of 95.162. It fell 0.1% on JPY to 109.84.

EUR slipped to $1.1397 after a survey showed Tuesday that Eurozone businesses expanded at their slowest pace since mid-2013 at the beginning of the year.

Commodities: Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »53.66 USD+0.000.00%Feb 191:38AM EST
ICE Brent Crude »61.97 USD-0.01-0.02%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.42 USD-0.00-0.27%Feb 191:25AM EST
Dubai Crude Spot »62.08 USD-0.10-0.16%Dec 021:48AM EST
ICE Gas Oil »578.25 USD-1.50-0.26%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.89 USD-0.00-0.14%Feb 191:11AM EST
NYMEX Nat Gas »2.69 USD+0.03+1.19%Feb 191:37AM EST
ICE NBP Nat Gas »50.48 GBP+0.000.00%Feb 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,313.31USD-1.64-0.12%Dec 027:00PM EST
COMEX 100oz Gold »1,312.30USD-1.90-0.14%Feb 199:15PM EST
Silver Spot »15.76USD-0.08-0.51%Dec 027:00PM EST
Platinum Spot »814.35USD-1.65-0.20%Dec 027:00PM EST
Palladium Spot »1,373.22USD-8.28-0.60%Dec 027:00PM EST
COMEX Copper »2.82USD+0.000.00%Feb 192:44PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »380.50USC-0.25-0.07%Mar 191:48AM EST
CBOT Wheat »528.00USC+0.75+0.14%Mar 191:50AM EST
KCBT Wheat »511.25USC+0.000.00%Mar 191:49AM EST
MGE Spring Wheat »575.00USC+0.000.00%Mar 191:34AM EST
Euronext Milling Wheat »204.25EUR+0.000.00%Mar 197:00PM EST
CBOT Soybeans »918.25USC-2.00-0.22%Mar 191:48AM 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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