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

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


Gold Off
Crude Oil Down
Stocks Up

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 fell to a more than 1-week low Thursday, pressured by a stronger USD, but worries over slowing global economic growth and the specter of another US government shutdown kept the safe-haven metal above the Key $1,300 support mark.

  • Spot gold fell 0.2% to $1,303.64 oz by 0341 GMT.
  • US gold futures were down 0.5% at $1,307.30.

A possible rate cut by the Australian central bank stokes global slowdown concerns and USD gained on safe-haven interest, pulling down gold.

Energy: Crude Oil prices fell Thursday after US Crude Oil inventories rose and as production levels in the country held at record levels, but OPEC-led supply cuts and Washington’s sanctions Vs Venezuela supported markets.

  • NYMEX WTI Crude Oil futures were at $53.84 bbl at 0247 GMT, -17c, or 0.3c, from Wednesday’s settlement.
  • ICE Brent Crude Oil futures were down by 26c, or 0.4%, at $62.43 bbl.

The average weekly US Crude Oil production remained at the record 11.9-M BPD it reached in late Y 2018. The United States is currently the world’s largest Crude Oil producer, ahead of the other Top suppliers Russia and Saudi Arabia.

Equities: Asian share markets hanging near 4-month highs Thursday with Australian equities the Star performer while the New Zealand dollar sank after disappointing jobs data prompted investors to narrow the odds of a future rate cut.

Trading was light overall with China on Holiday and no major economic data on the diary.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1% as it rose to its highest since early October.

The index has risen steadily since early January as the Federal Reserve changed its tune on policy for further rate rises.

Australia’s benchmark stock index rose 1.2% on expectations of easy monetary policy after the country’s central bank chief shifted away from his previous tightening bias.

Japan’s Nikkei slipped 0.6%.

Currencies: The Aussie Dollar (AUD) duly fell 1.8% and gave a broad fillip to the USD. AUD was last at $0.7098.

.DXY has risen for 5 sessions running to 96.44, recovering almost all the losses suffered after the Fed abandoned plans for more rate hikes.

EUR was dragged down to $1.1359 in the wake of a dismal reading on German industrial output.

USD could make no headway on JPY, which benefited from its own safe-haven status at 109.95.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »53.81 USD-0.20-0.37%Feb 191:03AM EST
ICE Brent Crude »62.44 USD-0.25-0.40%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.45 USD-0.01-0.58%Feb 191:03AM EST
Dubai Crude Spot »62.49 USD-0.21-0.34%Dec 021:13AM EST
ICE Gas Oil »582.25 USD+0.000.00%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.91 USD-0.01-0.28%Feb 191:01AM EST
NYMEX Nat Gas »2.67 USD+0.01+0.30%Feb 191:03AM EST
ICE NBP Nat Gas »49.88 GBP+0.000.00%Feb 197:00PM EST
Gold Spot »1,304.33USD-1.48-0.11%Dec 027:00PM EST
COMEX 100oz Gold »1,302.20USD-7.30-0.56%Feb 1912:19AM EST
Silver Spot »15.67USD+0.01+0.06%Dec 027:00PM EST
Platinum Spot »799.50USD-3.50-0.44%Dec 027:00PM EST
Palladium Spot »1,375.00USD+2.50+0.18%Dec 027:00PM EST
COMEX Copper »2.84USD+0.000.00%Feb 197:01PM EST
CBOT Corn »379.25USC-0.75-0.20%Mar 191:11AM EST
CBOT Wheat »523.25USC-2.75-0.53%Mar 191:08AM EST
KCBT Wheat »507.25USC-2.00-0.39%Mar 191:00AM EST
MGE Spring Wheat »576.00USC+2.75+0.48%Mar 191:02AM EST
Euronext Milling Wheat »203.50EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »920.25USC-1.50-0.16%Mar 191:17AM 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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