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 Steady, Crude Oil Falling, Stocks Up

Notes: 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.

President Trump says, “All of nothing at all!”

US jobs report data out Friday. Economists polled by Reuters expect to see 180,000 jobs added in the United States last month, after 2 months of strong growth. The US economy added 304,000 jobs in January and 222,000 in December.

In Asia

Gold: Gold edged up Friday as investors worried about a sharp slowdown in global growth after the European Central Bank slashed growth outlook and weak Chinese data, but a rally the USD kept gold on track for its 2nd weekly decliner.

  • Spot gold +0.3% at $1,289.81 oz as of 0548 GMT,
  • US gold futures + 0.3 percent at $1,289.80 oz.

.DXY is hanging near a 3-month high hit in Thursday’s session, while EUR holding close to a 21-month low Vs US after the ECB postponed an interest rate hike until Y 2020.

Energy: Crude Oil prices falling Friday as clouds gathered over the global economy after the European Central Bank (ECB) warned overnight of continued weakness and fresh data showed Chinese exports and imports fell last month.

  • ICE Brent Crude Oil futures were at $65.78 bbl at 0528 GMT, -52c, or 0.8% from Thursday’s close,
  • NYMEX WTI Crude Oil futures were at $56.25 bbl, -41c, or 0.7%.

Financial markets, including took a hit after ECB President Mario Draghi said Thursday the economy was in “a period of continued weakness and pervasive uncertainty”. Europe’s economic collapse comes as growth in Asia is also slowing down.

Equities: Chinese stocks staged a strong rebound this year recouping much of 2018’s sharp losses, buoyed by hopes Beijing will roll out more support measures for the slowing economy and signs of progress in US-China trade talks.

Adding fuel to the rally is a pick up in the momentum in the A-share market’s internationalization process, which drew foreign money into China even as authorities vowed to further open up its financial markets and deepen reforms.

The benchmark Shanghai composite index SSEC gained 17.9% in the 1st 2 months of Y 2019, Vs an 8.2% rise in MSCI’s broadest index of Asia-Pacific shares in the same frame.

Currencies: .DXY is hanging near a 3-month high hit in Thursday’s session, while EUR holding close to a 21-month low Vs US after the ECB postponed an interest rate hike until Y 2020.

JPY, a perceived safe haven, attracts demand in times of political tensions and market turmoil.

The Australian Dollar trod water at $0.7013 , having declined 0.9% this week and hitting a 2-month low of $0.7005 after data showed the economy grew at its slowest pace in 2 years last Quarter.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »56.36 USD-0.30-0.53%Mar 191:03AM EST
ICE Brent Crude »65.90 USD-0.40-0.61%Mar 197:00PM EST
NYMEX RBOB Gasoline »1.79 USD-0.02-0.87%Mar 191:04AM EST
Dubai Crude Spot »66.28 USD-0.08-0.12%Dec 021:14AM EST
ICE Gas Oil »620.00 USD-2.25-0.36%Mar 197:00PM EST
NYMEX No2 Heating Oil »2.00 USD-0.01-0.55%Mar 191:04AM EST
NYMEX Nat Gas »2.87 USD+0.00+0.03%Mar 191:02AM EST
ICE NBP Nat Gas »41.85 GBP+0.000.00%Mar 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,290.40USD+4.91+0.38%Dec 027:00PM EST
COMEX 100oz Gold »1,283.80USD+0.000.00%Mar 197:01PM EST
Silver Spot »15.10USD+0.08+0.55%Dec 027:00PM EST
Platinum Spot »815.44USD+2.19+0.27%Dec 027:00PM EST
Palladium Spot »1,522.81USD-4.65-0.31%Dec 027:00PM EST
COMEX Copper »2.91USD+0.000.00%Mar 197:01PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »357.75USC+1.75+0.49%Mar 198:20PM EST
CBOT Wheat »431.50USC+0.000.00%Mar 195:32PM EST
KCBT Wheat »420.25USC+0.000.00%Mar 191:00AM EST
MGE Spring Wheat »557.00USC+0.000.00%Mar 1912:43AM EST
Euronext Milling Wheat »187.50EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »890.75USC+0.000.00%Mar 195:30PM EST
CBOT Soybean Oil »29.41USC+0.000.00%Mar 195:02PM EST

Have a terrific weekend.

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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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