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

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


Gold Steady
USD Highers
Crude Oil Up
Stocks Up

In Asia

Notes: Messrs. Mnuchin and Lighthizer opened another round of trade talks in Beijing Monday to push for a deal to protect American IP, and avert a 2 March increase in US tariffs on Chinese goods.

Gold: Gold prices steady Tuesday as investors kept a cautious stance ahead this round of US-China trade talks, as the firmer USD capped gains for the bullion, which saw some support from global economic slowdown worries.

  • Spot gold was firm at $1,309 oz, as of 0605 GMT, after falling 0.4% in the prior session.
  • US gold futures are flat to unchanged at $1,312.70 oz.

Gold is being pushed around by the US near term. Traders are getting out of anything to do with EU on concerns of weakness in the region and going for safe-haven buying into US treasuries, which is pushing up USD in here. 

Energy: Crude Oil prices ticked up after falls Monday as traders weighed support from OPEC-led supply restraint and a slowdown in the global economy.

  • NYMEX WTU Crude Oil futures traded at $52.68 bbl, + 0.5%.
  • ICE Brent Crude Oil rose 0.6% to $61.89 bbl

Equities: Asian shares gained Tuesday as investors hoped this new round of US-China trade talks would help to resolve a dispute that has dented global growth and some corporate earnings.

S&P 500 e-mini futures were up nearly 0.5%.

Spreadbetters expected European stocks to track Asia and open higher, with Britain’s FTSE gaining 0.25% and Germany’s DAX and France’s CAC each adding 0.5%.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.3%.

The Shanghai Composite Index rose 0.35%, SKorea’s KOSPI climbed 0.6% and Australian shares were up 0.3%.

Japan’s Nikkei advanced 2.6% after a market holiday Monday, lifted by a weaker JPY.

Currencies: The USD held firm, having gained for 8 sessions running Vs a basket of 6 peer currencies until Monday, its longest rally in 2 years. And
is up to a 6-week high of 110.65 JPY.

EUR dropped to as low as $1.1267, its weakest in 2.5 months, and last traded at $1.1277.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »52.55 USD+0.14+0.27%Feb 191:36AM EST
ICE Brent Crude »61.76 USD+0.25+0.40%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.42 USD+0.00+0.34%Feb 191:35AM EST
Dubai Crude Spot »61.91 USD+0.32+0.52%Dec 021:46AM EST
ICE Gas Oil »582.50 USD+0.000.00%Feb 197:00PM EST
NYMEX No2 Heating Oil »1.90 USD+0.00+0.18%Feb 191:35AM EST
NYMEX Nat Gas »2.65 USD+0.01+0.49%Feb 191:35AM EST
ICE NBP Nat Gas »47.81 GBP+0.000.00%Feb 197:00PM 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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