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

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


Gold Eased
USD Cautious
Crude Oil Down
Stocks Off

In Asia

Notes: Messrs. Mnuchin and Lighthizer open another round of trade talks in Beijing this week to push for a deal to protect American intellectual property and avert a 2 March increase in US tariffs on Chinese goods.

Gold: Gold prices eased Monday as uncertainties around US-China trade tensions buoyed the Buck, taking shine off the the precious Yellow metal’s safe-haven appeal even as investors worry about a slowdown in global economic growth.

  • Spot gold fell 0.2% to $1,311.77 oz by 0539 GMT
  • US gold futures declined 0.2% to $1,315.50 oz

Long-term we are Bullish. Global growth worries, mainly the reduction in the Eurozone growth forecasts have laid a strong foundation for gold.

Energy: Crude Oil prices fell by around 1% Monday as drilling activity in the US, the world’s largest producer, picked up and financial markets were pulled down by trade concerns.

  • NYMEX WTI Crude Oil futures were at $52.09 bbl at 0347 GMT, down 63c, or 1.2% from Friday’s settlement.
  • ICE Brent Crude Oil futures were down 49c, or 0.8%, at $61.61 bbl.

Analysts say economic concerns are weighing on Crude Oil futures now.

Equities: Asian shares started the week cautious, as investors were unable to shake off worries about global growth, US politics and the US-China trade dispute, keeping the safe-haven USD well bid near a 6-week high Vs its peers.

Chinese shares are cautious Monday after they resumed trading following a week-long Lunar New Year holiday. The blue-chip index was last up 0.4%, Australian stocks were down 0.6% while SKorea eased 0.2%.

That left MSCI’s broadest index of Asia-Pacific shares sans Japan off 0.1% after it was pushed from a 4-month Top Friday.

Trading volumes are expected to be light with Japan on public holiday.

Currencies: .DXY held near a 6-week highs around 96.625 Vs a basket of peers, after notching up its strongest weekly gainer in 6 months as traders piled into the Buck in a safe-haven move.

EUR flat at $1.1324 after 5 days running of losses took it to more than 2 weeks lows. GBP at $1.2934.

The Aussie up from Friday’s one-month lows although sentiment was still cautious after the country’s central bank opened the door to a possible rate cut.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »52.14 USD-0.58-1.11%Feb 191:23AM EST
ICE Brent Crude »61.72 USD-0.38-0.62%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.44 USD-0.01-0.60%Feb 191:22AM EST
Dubai Crude Spot »61.71 USD-0.44-0.71%Dec 021:33AM EST
ICE Gas Oil »581.00 USD-1.50-0.26%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.90 USD-0.00-0.23%Feb 191:20AM EST
NYMEX Nat Gas »2.66 USD+0.08+3.08%Feb 191:23AM EST
ICE NBP Nat Gas »48.05 GBP+0.000.00%Feb 197:00PM EST
Gold Spot »1,312.12USD-1.87-0.14%Dec 027:00PM EST
COMEX 100oz Gold »1,310.70USD-3.00-0.23%Feb 1910:24PM EST
Silver Spot »15.74USD-0.08-0.53%Dec 027:00PM EST
Platinum Spot »792.00USD-6.00-0.76%Dec 027:00PM EST
Palladium Spot »1,386.00USD-16.00-1.15%Dec 027:00PM EST
COMEX Copper »2.79USD-0.03-0.90%Feb 199:59PM EST
CBOT Corn »374.75USC+0.50+0.13%Mar 191:27AM EST
CBOT Wheat »516.25USC-1.00-0.19%Mar 191:33AM EST
KCBT Wheat »494.50USC+0.25+0.05%Mar 191:24AM EST
MGE Spring Wheat »567.50USC-1.00-0.18%Mar 191:24AM EST
Euronext Milling Wheat »203.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »917.75USC+3.25+0.35%Mar 191:32AM 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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