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

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


In Asia

Note: US President Donald Trump wrote on Twitter overnight that “Talks with China are going very well!”

Gold: Gold treads lower on improved risk appetite, while Palladium marks record highs

  • Spot gold slipped 0.2% to $1,282.61 oz by 0600 GMT, and US gold futures settled down 0.1% at $1,284 oz.

In the short term, there is some optimism that there will be a trade truce, which will take away a shadow from market confidence.

And gold is seeing some headwinds because of a gradual recovery in risk assets, as well as investors pricing in the Fed’s dovish signals.

Energy: Crude Oil prices rose more than 1% Wednesday, extending gains from the prior session on signs that Washington and Beijing may soon resolve their trade dispute.

  • NYMEX WTI Crude Oil futures were at $50.53 bbl at 0459 GMT, +75c, or 1.5%, from Tuesday’s finish. That marked the 1st time this year that WTI has topped $50 bbl.
  • ICE Brent Crude Oil futures were up 79c, or 1.3%, at $59.47 bbl

Crude Oil continues to extend gains as early reports from Beijing regarding US -China trade negotiations are fueling optimism around successful trade talks between the 2 global powers. The Crude Oil price rises were in line with Asian stock markets, which climbed to 3.5 week highs Wednesday.

Equities: Asian shares rose to 3.5-week highs Wednesday and European and US markets looked set to follow on growing optimism that the United States and China are moving toward a trade deal that could lift the major threat to the global economy.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.5% after US-China trade talks in Beijing were extended for an unscheduled 3rd day, suggesting progress is being made.

Japan’s benchmark Nikkei .N225 rose 1.1%, while China’s Shanghai Composite .SSEC and the blue-chip CSI 300 .CSI300 rebounded 0.8% and 1.1%, respectively.

Chinese markets were also boosted after Beijing signaled more support for domestic spending on items from autos to home appliances.

Financial spread-betters expect London’s FTSE .FTSE Frankfurt’s DAX .DAX and Paris’s CAC .FCHI to gain between 1.0 and 1.1% when they open.

Currencies: The USD was flat to little changed Vs major currencies.

The .DXY, which measures the Buck against a basket of 6 peers, stood at 95.78, not far off an 11-week low of 95.638 marked Monday.

Against JPY, the USD gained 1/10 % to 108.84 JPY per USD.

EUR edged up 0.2% to $1.1461, but its rebound was not enough to recover a loss in the prior session on concerns about the slowing Eurozone economy.

China’s RMB Yuan rose to a 5-week high of 6.8340 Vs USD, buoyed by trade hopes.

Commodities: Energy, Metals, and Agriculture Grains

NYMEX Crude Oil »50.32 USD+0.54+1.07%Jan 191:59AM EST
ICE Brent Crude »59.27 USD+0.55+0.93%Jan 197:00PM EST
NYMEX RBOB Gasoline »1.38 USD+0.02+1.19%Jan 191:54AM EST
Dubai Crude Spot »57.94 USD+0.59+1.02%Dec 022:09AM EST
ICE Gas Oil »552.50 USD+6.00+1.09%Jan 197:00PM EST
NYMEX No2 Heating Oil »1.83 USD+0.01+0.34%Jan 191:59AM EST
NYMEX Nat Gas »2.99 USD+0.03+0.93%Jan 191:59AM EST
ICE NBP Nat Gas »60.73 GBP+0.000.00%Jan 197:00PM EST
Gold Spot »1,282.10USD-2.75-0.21%Dec 027:00PM EST
COMEX 100oz Gold »1,283.20USD+0.000.00%Jan 197:01PM EST
Silver Spot »15.62USD-0.04-0.22%Dec 027:00PM EST
Platinum Spot »823.80USD+9.30+1.13%Dec 027:00PM EST
Palladium Spot »1,328.90USD+12.91+0.97%Dec 027:00PM EST
COMEX Copper »2.67USD+0.01+0.47%Jan 199:46PM EST
CBOT Corn »381.50USC+1.50+0.39%Mar 192:19AM EST
CBOT Wheat »522.25USC+4.50+0.86%Mar 192:30AM EST
KCBT Wheat »509.00USC+4.00+0.79%Mar 192:30AM EST
MGE Spring Wheat »573.25USC+6.00+1.05%Mar 192:28AM EST
Euronext Milling Wheat »206.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »908.50USC+2.25+0.25%Jan 198:05PM EST
CBOT Soybean Oil »28.18USC+0.000.00%Jan 195:22PM 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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