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

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


FLASH: Gold Steady, USD Down, Crude Oil UP, Stocks Up

Notes: The WS-J reported Sunday Washington could lift most or all of its tariffs on Beijing while Presidents Trump and Xi ready to sign a final trade deal later this month and Summit at Mar a Lago.

In Asia

Gold: Gold edged up Monday, after falling below the psych mark at $1,300 level in the prior session.

  • Spot gold was up about 0.3% at $1,296.52 oz as of 0124 GMT
  • US gold futures were down 0.2% at $1,297.10 oz
  • Gold fell 2.6% last week on a firmer US and global stock advances.

Energy: Crude Oil prices rose Monday, driven by output cuts from OPEC and reports that the US and China are close to a deal to end the tariffs that has slowed China’s economic growth.

  • ICE Brent Crude Oil futures were at $65.36 bbl at 0446 GMT, +29c, or 0.5%, from Friday’s close.
  • NYMEX WTI Crude Oil futures were at $56.07 bbl, +27c, or 0.5%

The rally followed reports that the US and China are close to ending their year-long trade dispute.

Equities: Asian shares started the week higher on signs the US and China were close to striking a tariff deal to end their protracted trade dispute, while USD eased as traders bet Fed policy would remain accommodative.

All of that proved positive for risk sentiment with E-mini futures for the S&P 500 and the DJIA rising 0.5% each Monday.

Chinese shares were the biggest gainers in Asia, with the blue-chip index up 3%. Australian shares rose 0.5% and Hong Kong’s Hang Seng index added 0.7%.

MSCI’s broadest index of Asia-Pacific shares sans Japan with gains of 0.4%. Japan’s Nikkei strengthened more than 1%.

EUR ranged and was last at $1.1364.

The Aussie, a liquid proxy for risk hedges, gained on the broader improvement in sentiment, but disappointing domestic data took the wind out of its sail. The currency was last at $0.7089 after earlier rising as high as $0.7118.

Currencies: .DXY slipped VS a basket of peer currencies from Friday’s 1-week high of 96.551. It was last down 0.1% at 96.45.

Against JPY, USD was higher at 111.98.

Commodities (live): Energy, Metals, Agriculture Grains

NYMEX Crude Oil »56.03 USD+0.23+0.41%Mar 191:28AM EST
ICE Brent Crude »65.35 USD+0.28+0.43%Mar 197:00PM EST
NYMEX RBOB Gasoline »1.74 USD+0.01+0.37%Mar 191:25AM EST
Dubai Crude Spot »65.31 USD+0.19+0.29%Dec 021:37AM EST
ICE Gas Oil »617.00 USD+2.50+0.41%Mar 197:00PM EST
NYMEX No2 Heating Oil »2.01 USD+0.01+0.32%Mar 191:25AM EST
NYMEX Nat Gas »2.85 USD-0.01-0.49%Mar 191:27AM EST
ICE NBP Nat Gas »43.07 GBP+0.000.00%Mar 197:00PM EST
Gold Spot »1,293.35USD+0.03+0.00%Dec 027:00PM EST
COMEX 100oz Gold »1,296.40USD+0.000.00%Mar 197:01PM EST
Silver Spot »15.21USD+0.01+0.08%Dec 027:00PM EST
Platinum Spot »854.18USD-2.63-0.31%Dec 027:00PM EST
Palladium Spot »1,548.41USD+2.99+0.19%Dec 027:00PM EST
COMEX Copper »2.94USD+0.01+0.31%Mar 191:13AM EST
CBOT Corn »365.00USC+1.00+0.27%Mar 199:16PM EST
CBOT Wheat »454.75USC+0.75+0.16%Mar 199:19PM EST
KCBT Wheat »440.75USC+0.000.00%Mar 191:00AM EST
MGE Spring Wheat »562.00USC+0.000.00%Mar 191:22AM EST
Euronext Milling Wheat »191.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »904.50USC+5.25+0.58%Mar 191:37AM 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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