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

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

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

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

Notes: Trade talks dominated headlines with a new round of negotiations between the United States and China expected in Washington on Tuesday, and follow-up sessions at a higher level later in the week.

Comments from European Central Bank’s Olli Rehn on Sunday have triggered speculation the ECB will launch another round of Targeted Long-Term Refinancing Operations (TLTRO) to support bank lending.

Minutes of the Fed’s last policy meeting are due Wednesday and should provide more guidance on the likelihood or not for rate hikes this year. There is also talk the Fed will keep a much larger balance sheet than previously planned.

In Asia

Gold: Gold held at $1,323.66 oz after earlier rising to a 10-month high at $1,327.64.

The precious metals market was lively, with Palladium surging to a record high of $1,471.0 oz as stricter emissions standards are seen increasing demand for the autocatalyst metal.

Energy: Crude Oil prices mixed

  • ICE Brent Crude Oil futures -29c to $66.21 bbl
  • NYMEX WTI Crude Oil futures +21c at $55.80 bbl.

Equities: Asian shares hanging near 4-month highs Tuesday as investors took heart from some progress in US-China trade talks, while JPY slipped as the Japanese central bank said it will not rule out further policy easing.

Spreadbetters pointed to a positive start for Europe while E-mini futures for the S&P 500 and the DJIA are flat.

Japan’s Nikkei +0.2% after holding flat for most of the day. Australian shares climbed 0.3% to a 4.5 month highs, after gaining over 8% YTD partly on expectations the central bank could ease policy to temper pressure on growth.

Chinese shares fell into the Red after surging in the prior session, with the blue-chip index off 0.4%.

That left MSCI’s broadest index of Asia-Pacific shares sans Japan down 0.1%, but still close to the 4-month highs marked last Wednesday.

Currencies: USD higher Vs JPY. It was last at 110.60 JPY after dipping as low as 110.45 earlier in the day.

EUR was 0.1% weaker at $1.1295, not far from Friday’s 3-month low of $1.1234, largely on a run of soft European economic data including Germany’s GDP figures.

GBP was 0.2% weaker at $1.2899, with an eye on BREXIT talks between Britain and the EU, while the Aussie held at $0.7112.

Commodities (live quotes): Energy, Metals, and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.98 USD+0.39+0.70%Feb 192:33AM EST
ICE Brent Crude »66.50 USD+0.000.00%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.57 USD-0.00-0.24%Feb 192:29AM EST
Dubai Crude Spot »66.19 USD-0.10-0.15%Dec 022:45AM EST
ICE Gas Oil »616.75 USD-1.00-0.16%Mar 197:00PM EST
NYMEX No2 Heating Oil »2.02 USD-0.00-0.11%Feb 192:25AM EST
NYMEX Nat Gas »2.66 USD+0.04+1.32%Feb 192:34AM EST
ICE NBP Nat Gas »45.78 GBP+0.000.00%Feb 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,324.61USD-1.54-0.12%Dec 027:00PM EST
COMEX 100oz Gold »1,324.20USD+6.10+0.46%Feb 198:07PM EST
Silver Spot »15.75USD-0.05-0.32%Dec 027:00PM EST
Platinum Spot »806.17USD+4.17+0.52%Dec 027:00PM EST
Palladium Spot »1,481.97USD+24.97+1.68%Dec 027:00PM EST
COMEX Copper »2.80USD+0.000.00%Feb 197:01PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »375.75USC+1.00+0.27%Mar 192:39AM EST
CBOT Wheat »502.75USC-1.50-0.30%Mar 192:37AM EST
KCBT Wheat »477.00USC+0.50+0.10%Mar 191:44AM EST
MGE Spring Wheat »572.00USC-1.00-0.17%Mar 192:26AM EST
Euronext Milling Wheat »195.50EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »909.75USC+2.25+0.25%Mar 192:36AM EST

Have a terrific week.

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Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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