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 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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
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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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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