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

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

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

FLASH: Gold Up, USD Firm, Crude Oil Down, Stocks Up

Notes: US Secretary of State Mike Pompeo said Monday he thought the United States and China were “on the cusp” of a deal to end their trade dispute, but President Trump will reject any deal that is not perfect.

The WS-J reported 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.

A series of robust data from the United States has strengthened the USD, the Fed’s patience on policy is nowhere close to running out.

Markets now look ahead to the European Central Bank’s (ECB) monetary policy meeting Thursday and US NFP data Friday.

In Asia

Gold: Gold prices up Wednesday, after recovering from a more than 5-week low in the prior session, supported by a pause in global stock rally, while a firmer USD curbed gains.

  • Spot gold up 0.2% at $1,290.04 oz, as of 0654 GMT
  • US gold futures were up 0.4% at $1,289.60 oz.

Gold is firming after the sharp fall as competing influences of the interest bearing assets are reversing. Bond yields have started to weaken gently, and while the dollar is going up, equities are seeing headwinds.

Energy: Crude Oil prices fell Wednesday as Bullish output forecasts by 2 big US producers and a build in weekly US stockpiles outweighed OPEC-led production cuts.

  • ICE Brent Crude Oil futures were at $65.47 bbl at 0745 GMT, -39c, or 0.6%, from Tuesday’s close.
  • NYMEX WTI Crude Oil futures were down 0.7%, or -41c, at $56.15 bbl.

Crude Oil futures continue to demonstrate seesaw trades as markets balance between OPEC-led cuts and the effects of rising US production levels and President Trump’s signals.

Equities: Asian stocks held Wednesday as Chinese equities rallied on stimulus hopes, although a resurgence in regional tensions capped broader gains.

Currencies: .DXY held near a 2-week high hit in Monday’s session.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »55.96 USD-0.60-1.07%Mar 193:47AM EST
ICE Brent Crude »65.32 USD-0.54-0.83%Mar 197:00PM EST
NYMEX RBOB Gasoline »1.76 USD-0.01-0.63%Mar 193:45AM EST
Dubai Crude Spot »65.60 USD-0.89-1.36%Dec 023:56AM EST
ICE Gas Oil »617.00 USD-2.25-0.36%Mar 197:00PM EST
NYMEX No2 Heating Oil »2.00 USD-0.01-0.69%Mar 193:47AM EST
NYMEX Nat Gas »2.88 USD-0.01-0.21%Mar 193:46AM EST
ICE NBP Nat Gas »42.31 GBP-0.53-1.25%Mar 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,287.47USD+0.29+0.02%Dec 027:00PM EST
COMEX 100oz Gold »1,287.00USD+5.00+0.39%Mar 191:18AM EST
Silver Spot »15.11USD-0.02-0.11%Dec 027:00PM EST
Platinum Spot »830.55USD-6.20-0.75%Dec 027:00PM EST
Palladium Spot »1,510.70USD-4.71-0.31%Dec 027:00PM EST
COMEX Copper »2.93USD-0.01-0.22%Mar 1912:27AM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »366.00USC+0.000.00%Mar 197:59PM EST
CBOT Wheat »454.25USC+0.000.00%Mar 192:06PM EST
KCBT Wheat »444.00USC+0.000.00%Mar 191:00AM EST
MGE Spring Wheat »554.00USC+0.000.00%Mar 193:45AM EST
Euronext Milling Wheat »190.00EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »903.50USC+2.25+0.25%Mar 192:02AM 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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