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

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

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

FLASH: Gold Lower, USD Flat, Crude Oil Lower, Stocks Lower

Notes: Market focus on Fed Chairman Powell’s testimony in front of Congress

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 in Hanoi for 2nd NKorean Summit with Chairman Kim.

In Asia

Gold: Gold seeing profit taking in here.

  • Spot gold lost 0.1% to $1,326.36 oz
  • US gold futures were steady at $1,330 as USD is flat.

On the technical front, gold is expected to retest a support at $1,321 oz, a break below that mark could then see $1,311, according to my work

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), fell Monday.

Energy: Crude Oil lower Tuesday to extend losses of more than 3% from the prior session, easing after President Trump called on OPEC to rein in its efforts to boost prices.

  • ICE Brent Crude Oil futures were at $64.70 bbl at 0728 GMT, -6c, or 0.1% from Monday’s close.
  • NYMEX WTI Crude Oil futures were at $55.26 bbl, -22c, or 0.4%

Tweeting Monday, President Trump expressed concern about prices and repeated his previous calls on the Organization of the Petroleum Exporting Countries (OPEC) to keep prices steady.

Equities: Asian shares off Tuesday after marking 5-month highs, as investors waited to see if Washington and Beijing can clinch a trade deal.

Spread-betters pointed to a weak start for Europe with futures for London’s FTSE off 0.6% even as fears of a no-deal BREXIT faded.

US stock futures were down too, with E-Minis for the S&P 500 falling 0.4%.

Australian shares lost 0.9%, weighed by energy stocks as Crude Oil prices.

MSCI’s broadest index of Asia-Pacific shares sans Japan fell 0.5% from its highest since mid-September as US and Chinese negotiators work to hammer out a deal that would end a protracted tit-for-tat tariff battle.

Currencies: The GBP advanced on hopes UK Prime Minister Theresa May will delay the BREXIT deadline.

USD fell against the safe-haven JPY from its highest since late December. The Buck was last at 110.77.

.DXY was flat at 96.399 against a basket of peer currencies.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.24 USD-0.24-0.43%Mar 193:02AM EST
ICE Brent Crude »64.67 USD-0.09-0.14%Feb 197:00PM EST
NYMEX RBOB Gasoline »1.54 USD-0.00-0.01%Feb 192:41AM EST
Dubai Crude Spot »64.69 USD-0.18-0.28%Dec 023:12AM EST
ICE Gas Oil »606.25 USD-0.75-0.12%Mar 197:00PM EST
NYMEX No2 Heating Oil »1.98 USD+0.00+0.11%Feb 192:58AM EST
NYMEX Nat Gas »2.85 USD+0.01+0.49%Feb 192:56AM EST
ICE NBP Nat Gas »43.76 GBP-0.32-0.73%Feb 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,325.01USD-2.05-0.15%Dec 027:00PM EST
COMEX 100oz Gold »1,323.90USD-2.00-0.15%Feb 193:10AM EST
Silver Spot »15.83USD-0.06-0.37%Dec 027:00PM EST
Platinum Spot »846.00USD-3.00-0.35%Dec 027:00PM EST
Palladium Spot »1,530.50USD-10.50-0.69%Dec 027:00PM EST
COMEX Copper »2.95USD+0.000.00%Feb 197:01PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »370.75USC+0.25+0.07%Mar 193:14AM EST
CBOT Wheat »465.25USC-1.50-0.32%Mar 193:11AM EST
KCBT Wheat »442.75USC+0.50+0.11%Mar 193:09AM EST
MGE Spring Wheat »562.50USC+1.50+0.27%Mar 193:01AM EST
Euronext Milling Wheat »193.75EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »908.50USC-3.25-0.36%Mar 193:14AM 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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