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

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


FLASH: Gold Higher, USD Steady, Crude Oil Lower, Stocks Higher

Notes: US and China have a deal in the works. President Trump pushes deadline and sets up Summit with President Xi  at Mar a Lago.

President Trump on the way to Hanoi for 2nd NKorean Summit with Chairman Kim.

In Asia

Gold: Gold prices rose Monday as USD fell Vs the RMB Yuan after President Trump said he would delay an increase in tariffs on Chinese goods, while Palladium surged to a record high.

  • Spot gold edged up to $1,331.00 oz.
  • US gold futures were steady at $1,333.
  • Spot palladium traded as high as $1,506.50 oz
  • Platinum was up 0.4% at $843.50 oz.

Energy: Crude Oil prices dipped Monday, as record US exports undermine OPEC-led efforts to cut supply.

  • ICE Brent Crude Oil futures were at $66.88 bbl at 0449 GMT, -24c, or 0.4%, from Friday’s close.
  • NYMEX WTI Crude Oil futures were at $57.11 bbl, -15cor 0.3% from Friday’s settlement.

The dips are a result of ample supply on surging exports from the United States, forcing other producers especially in the Middle East to start offering their Crude Oil at discounts.

Equities: A surge in Shanghai shares led Asia higher Monday after US President Trump confirmed he will push a planned hike in tariffs on Chinese imports as talks between the 2 sides made “substantial progress”.

Chinese blue chips rose 3.5% to territory last seen in mid-June. That brought YTD gainers to 20%, helped in part by Beijing’s efforts to pump new credit into the financial system..

MSCI’s broadest index of Asia-Pacific shares sans Japan added 0.3% to the highest since October, and is up 10% YTD.

Japan’s Nikkei climbed 0.5% to levels last seen in mid-December.

E-Mini futures for the S&P 500 edged up 0.2%, while spread betters pointed to opening gains for the major European bourses.

Currencies: The Ausssie, a liquid proxy for China investments, got a lift from the news and USD touched 7-month lows Vs RMB Yuan.

The USD little moved at 110.66 JPY. EUR flat at $1.1340, well within the $1.1213/1.1570 trading range that has held since mid-October.

Against a basket of currencies USD was holding steady at 96.473.

GBP is hanging at $1.3065 as markets awaited some clarity on where BREXIT talks are heading.

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

NYMEX Crude Oil »57.17 USD-0.09-0.16%Mar 191:30AM EST
ICE Brent Crude »66.93 USD-0.19-0.28%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.61 USD-0.01-0.32%Feb 191:11AM EST
Dubai Crude Spot »67.19 USD-0.06-0.09%Dec 021:40AM EST
ICE Gas Oil »621.75 USD-0.25-0.04%Mar 197:00PM EST
NYMEX No2 Heating Oil »2.03 USD-0.00-0.18%Feb 1912:57AM EST
NYMEX Nat Gas »2.78 USD+0.06+2.16%Feb 191:28AM EST
ICE NBP Nat Gas »44.90 GBP+0.000.00%Feb 197:00PM EST
Gold Spot »1,331.52USD+3.81+0.29%Dec 027:00PM EST
COMEX 100oz Gold »1,329.60USD+0.40+0.03%Feb 1912:29AM EST
Silver Spot »15.99USD+0.07+0.46%Dec 027:00PM EST
Platinum Spot »845.50USD+5.00+0.59%Dec 027:00PM EST
Palladium Spot »1,507.00USD+9.50+0.63%Dec 027:00PM EST
COMEX Copper »2.96USD+0.000.00%Feb 197:01PM EST
CBOT Corn »377.25USC+2.00+0.53%Mar 191:32AM EST
CBOT Wheat »485.50USC-1.25-0.26%Mar 191:32AM EST
KCBT Wheat »457.50USC-1.00-0.22%Mar 1912:49AM EST
MGE Spring Wheat »570.75USC+4.00+0.70%Mar 191:03AM EST
Euronext Milling Wheat »196.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »916.75USC+6.50+0.71%Mar 191:30AM EST

Have a terrific week.

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