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

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


FLASH: Gold Higher, USD Higher, Crude Oil Higher, Stocks Up

In Asia

Notes:  US Treasury Secretary Steven Mnuchin said Thursday he hopes for “productive” trade meetings in China, as the 2 countries work to hammer out an agreement to resolve their trade dispute. The talks, scheduled to run through Friday, follow 3 days of deputy-level meetings to work out technical details, including a mechanism for enforcing any trade agreement.
The United States has used tariffs as leverage to demand Beijing make major structural policy changes, including ending the forced transfer of American technology, fully enforcing intellectual property rights, and curbing industrial subsidies.

Gold: Gold prices higher Thursday as soft US inflation data raised expectations that the Fed will pause rate hikes this year, while investors were looking for developments in trade talks between Washington and Beijing.

  • Spot gold was up 0.3% at $1,309.38 oz, as of 0559 GMT
  • US gold futures down 0.2% to $1,312.10
  • Palladium rose 0.7% at $1,405 oz
  • Platinum up 0.1% at $784 oz
  • Silver + 0.5% at $15.64.

US consumer prices were unchanged for a 3rd month running in January, leading to the smallest annual increase in inflation in more than 1.5 years, which could allow the Fed to hold interest rates steady for a while.

Energy: Crude Oil prices rose Thursday, buoyed by hopes that potential progress in the latest US-China tariff talks would improve the global economic outlook.

  • NYMEX WTI Crude Oil futures were at $54.16 bbl at 0413 GMT, +26, or 0.5% from Wednesday’s settlement
  • ICE Brent Crude Oil futures +37c, or 0.6%, at $63.98 bbl.

Markets were supported by upbeat Chinese trade data, including Crude Oil.

Equities: Japan’s Nikkei share average pulled back from 2-month highs to end flat Thursday, as investors took a breather from recent rallies and as some earnings disappointments capped the broader market.

The Nikkei edged down 0.02% to 21,139.71 after rising to 21,235.62, its highest since 18 December.

Currencies: USD held near 3 month highs Vs EUR Thursday, supported by sustained strength in core US inflation and weaker-than-expected data from EU. The single currency was trading below the psych mark of $1.13 at $1.1283. Earlier in the session, it hit an intra-day low of $1.1245.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »54.39 USD+0.49+0.90%Feb 192:29AM EST
ICE Brent Crude »64.26 USD+0.65+1.01%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.48 USD+0.02+1.16%Feb 192:28AM EST
Dubai Crude Spot »64.53 USD+0.48+0.74%Dec 022:38AM EST
ICE Gas Oil »598.00 USD+3.50+0.59%Mar 197:00PM EST
NYMEX No2 Heating Oil »1.95 USD+0.02+0.80%Feb 192:27AM EST
NYMEX Nat Gas »2.59 USD+0.02+0.62%Feb 192:28AM EST
ICE NBP Nat Gas »47.75 GBP+0.13+0.27%Feb 197:00PM EST
Gold Spot »1,308.88USD+2.76+0.21%Dec 027:00PM EST
COMEX 100oz Gold »1,310.80USD+0.000.00%Feb 197:00PM EST
Silver Spot »15.67USD+0.10+0.65%Dec 027:00PM EST
Platinum Spot »784.50USD+1.00+0.13%Dec 027:00PM EST
Palladium Spot »1,405.41USD+10.41+0.74%Dec 027:00PM EST
COMEX Copper »2.77USD+0.000.00%Feb 197:01PM EST
CBOT Corn »378.00USC-0.75-0.20%Mar 192:36AM EST
CBOT Wheat »521.75USC-0.50-0.10%Mar 192:34AM EST
KCBT Wheat »494.00USC+0.000.00%Mar 192:11AM EST
MGE Spring Wheat »582.25USC+2.50+0.43%Mar 192:35AM EST
Euronext Milling Wheat »201.25EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »917.50USC+1.00+0.11%Mar 192:36AM 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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