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 Off, Crude Oil Higher, Stocks Down

Notes: Gold scaled a near 2-week high Wednesday, after reclaiming the Key $1,300 mark in the prior session, as investors opted for the safe-haven precious Yellow metal after British lawmakers rejected an amended exit deal, while a weaker uSD lent further support.

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: The dip in USD helped gold reach its highest mark in weeks and it was last at $1,305.09 oz as of this report. 

Gold may test a resistance at $1,307 oz, a break above which could lead to a gain into the range of $1,310-$1,313.

Reflecting investors sentiment, holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose about 0.4% Tuesday.

Energy: Crude Oil prices rose Wednesday, driven up by ongoing supply cuts from producer OPEC and US sanctions against Iran and Venezuela.

  • ICE Brent Crude Oil futures were at $66.85 bbl at 0341 GMT, +18c, or 0.3%, from Tuesday’s close,
  • WTI Crude Oil futures were at $57.12 bbl, +25c, or 0.5%, from their last close.

US Crude Oil production is expected to average about 12.30-M BPD in Y 2019, the US Energy Information Administration (EIA) said Tuesday.

Equities: Asian shares drifted lower Wednesday as a risk-off mood settled on markets, while the GBP awaited its fate ahead of yet another make-or-break parliamentary vote on BREXIT.

MSCI’s broadest index of Asia-Pacific shares sans Japan eased 0.45% in slow trade.

Japan’s Nikkei .N225 led the retreat with a fall of 1.2% as data showed domestic machinery orders fell in January at the fastest pace in four months.

Shanghai blue chips .CSI300 slipped 0.5% following 2 days of gainers.

E-Mini futures for the S&P 500 ESc1 were off 0.2% and spread betters pointed to opening losses for the main European bourses.

Currencies: USD drifted off to 111.28 JPY, the EUR marked time at $1.1287 having bounced from last week’s 20-month low of $1.1174.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »57.19 USD+0.32+0.56%Mar 191:17AM EDT
ICE Brent Crude »66.90 USD+0.23+0.34%Mar 198:00PM EDT
NYMEX RBOB Gasoline »1.83 USD+0.01+0.56%Mar 191:17AM EDT
Dubai Crude Spot »67.20 USD+0.08+0.12%Dec 021:24AM EDT
ICE Gas Oil »610.50 USD+2.50+0.41%Apr 198:00PM EDT
NYMEX No2 Heating Oil »1.99 USD+0.00+0.12%Mar 191:00AM EDT
NYMEX Nat Gas »2.79 USD+0.01+0.25%Mar 191:18AM EDT
ICE NBP Nat Gas »40.73 GBP+0.000.00%Mar 198:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,304.38USD+2.62+0.20%Dec 028:00PM EDT
COMEX 100oz Gold »1,296.30USD+0.000.00%Mar 197:01PM EDT
Silver Spot »15.43USD-0.01-0.06%Dec 028:00PM EDT
Platinum Spot »835.46USD-2.04-0.24%Dec 028:00PM EDT
Palladium Spot »1,537.97USD-3.61-0.23%Dec 028:00PM EDT
COMEX Copper »2.92USD-0.00-0.17%Mar 1912:32AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »356.25USC-0.25-0.07%Mar 199:45PM EDT
CBOT Wheat »446.25USC+0.000.00%Mar 1912:00PM EDT
KCBT Wheat »435.75USC+0.000.00%Mar 191:00AM EDT
MGE Spring Wheat »552.25USC+0.000.00%Mar 1912:16AM EST
Euronext Milling Wheat »184.25EUR+0.000.00%May 198:00PM EDT
CBOT Soybean »884.75USC+0.000.00%Mar 195:31PM EDT

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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