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 Higher, Stocks Up

Notes: Fed Chairman Powell said Friday that the central bank will be careful not to shock financial markets as it stabilizes its bond portfolio, saying that it does not see problems in the US economy that warrant an immediate change in its policy.

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!”

In Asia

Gold: Gold prices inched lower on Monday as the dollar firmed, but concerns about global economic slowdown further increased by poor U.S. jobs data kept the precious metal pinned at near a more than one-week peak level.

  • As of 0359 GMT, spot gold was off 0.1% at $1,297.20 oz,
  • US gold futures were off 0.2% at $1,296.90 an ounce.

The USD rose 0.1% Vs peer currencies and traded close to its 2-month highs, making gold costly for holders of other currencies.

Energy: Crude Oil prices up Monday, lifted by comments from Saudi Oil Minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall US drilling activity.

  • NYMEX WTI Crude Oil futures at $56.39 bbl at 0323 GMT, +32c, or 0.6% from Monday’s close.
  • ICE Brent Crude Oil futures were at $65.04 bbl, +30c, or 0.5%.

Despite the gains, markets were held back after strange US employment data raised concerns that an economic slowdown in Asia and Europe was spilling into the United States, where growth has so been healthy.

Equities: Asian shares struggled for traction Monday after strange US employment data raised doubts about the strength of the global economy, while investor jitters ahead of crucial BREXIT votes in the UK parliament this week weighed on GBP

MSCI’s broadest index of Asia-Pacific shares sans Japan was little changed from Friday’s 3-week lows, with broad weakness offset by small gainerss in Chinese shares.

China’s blue-chip CSI300 index gained 0.5% after Friday’s 4.0% fall, which was triggered after CITIC Securities issued a rare “Sell” rating on a major insurer and by a clampdown on gray-market, margin financing.

Japan’s Nikkei gained 0.2% after 4 sessions running in the Red last week

Currencies: EUR stood at $1.12315, keeping some distance from Thursday’s $1.11765 hit after the European Central Bank’s Dovish stance. It was its lowest since late June 2017.

USD edged down 0.1% to 111.05 JPY, having peaked at a 2.5-month high at 112.135 last Tuesday.

GBP is soft at $1.2969, down 0.3.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »56.29 USD+0.22+0.39%Mar 191:31AM EDT
ICE Brent Crude »65.94 USD+0.20+0.30%Mar 198:00PM EDT
NYMEX RBOB Gasoline »1.81 USD+0.01+0.46%Mar 191:32AM EDT
Dubai Crude Spot »66.28 USD+0.23+0.35%Dec 021:41AM EDT
ICE Gas Oil »620.00 USD+9.75+1.57%Mar 198:00PM EDT
NYMEX No2 Heating Oil »2.00 USD+0.00+0.06%Mar 191:32AM EDT
NYMEX Nat Gas »2.81 USD-0.05-1.96%Mar 191:32AM EDT
ICE NBP Nat Gas »41.95 GBP+0.000.00%Mar 197:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,297.63USD-0.38-0.03%Dec 028:00PM EDT
COMEX 100oz Gold »1,297.00USD+0.000.00%Mar 197:00PM EST
Silver Spot »15.32USD+0.01+0.04%Dec 028:00PM EDT
Platinum Spot »814.78USD-0.22-0.03%Dec 028:00PM EDT
Palladium Spot »1,522.05USD+7.55+0.50%Dec 028:00PM EDT
COMEX Copper »2.90USD+0.01+0.19%Mar 1911:56PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »354.75USC+0.000.00%Mar 195:18PM EST
CBOT Wheat »432.75USC+0.000.00%Mar 195:30PM EST
KCBT Wheat »424.75USC+0.000.00%Mar 1912:00AM EST
MGE Spring Wheat »555.75USC+0.000.00%Mar 1912:27AM EST
Euronext Milling Wheat »185.25EUR+0.000.00%Mar 197:00PM EST
CBOT Soybean »883.75USC+0.000.00%Mar 195:29PM 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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