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 Firm, Stocks Up

Notes: The Bank of Japan’s kept interest rates unchanged

Chinese Vice Premier Liu He spoke by telephone with US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, with the 2 sides making further substantive progress on trade talks, China’s official Xinhua news agency said Friday.

In Asia

Gold: Gold prices rose Friday, recovering from the prior Thursday’s fall, as the USD dipped and mounting concerns about a slowdown in global economic growth boosted demand for the safe-haven precious Yellow metal.

  • Spot gold gained 0.2% at $1,297.95 oz, as of 0454 GMT,
  • US gold futures were +0.2% at $1,297.80 oz.

The USD slipped 0.1% against major currencies, and was on track for its biggest weekly loss since early December.

Energy: Crude Oil prices were firm Friday on production cuts led by OPEC and as US sanctions against Venezuela and Iran likely created a slight deficit in global supply in Q-1 of Y 2019.

  • ICE Brent Crude Oil futures were $67.27 bbl at 0425 GMT, +4c above Thursday’s close,
  • NYMEX WTI Crude Oil futures were $58.63 bbl, +2c above their last close in NY

OPEC+ will meet in Baku, Azerbaijan, at the weekend to review its output policy, although most analysts expect the cuts to continue for now.

We do not think anything will be agreed this weekend. But, suspect the group will make noise about the ongoing effort to keep this market in balance.

Equities: Asian stocks up Friday as sentiment improved on a report that more progress has been made in US-China trade talks and after UK lawmakers voted to delay a no-deal BREXIT from the European Union.

MSCI broadest index of Asia-Pacific shares sans Japan gained 0.5%.

The Shanghai Composite Index +1.3+

Japan’s Nikkei climbed 1% and SKorea’s KOSPI +0.9%.

Currencies: USD -0.1% Vs major peers, and is on track for its biggest weekly loss since early December. .

.DXY little changed at 96.738 after rising 0.25% Thursday to bounce back from a 9-day low of 96.385.

JPY showed little response to the Bank of Japan’s widely expected decision to keep interest rates unchanged. Not surprisingly, the central bank offered a bleaker assessment of exports and output, as global demand waned.

EUR edged up 0.1% to $1.1311 after slipping 0.2% overnight.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »58.61 USD+0.000.00%Mar 191:37AM EDT
ICE Brent Crude »67.24 USD+0.01+0.01%Mar 198:00PM EDT
NYMEX RBOB Gasoline »1.85 USD-0.00-0.20%Mar 191:35AM EDT
Dubai Crude Spot »67.33 USD-0.01-0.01%Dec 021:48AM EDT
ICE Gas Oil »611.25 USD+0.50+0.08%Apr 198:00PM EDT
NYMEX No2 Heating Oil »1.98 USD-0.00-0.10%Mar 191:35AM EDT
NYMEX Nat Gas »2.84 USD-0.02-0.63%Mar 191:33AM EDT
ICE NBP Nat Gas »38.80 GBP+0.000.00%Mar 198:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,298.41USD+2.38+0.18%Dec 028:00PM EDT
COMEX 100oz Gold »1,293.40USD+0.000.00%Mar 197:01PM EDT
Silver Spot »15.28USD+0.10+0.68%Dec 028:00PM EDT
Platinum Spot »828.47USD+9.97+1.20%Dec 028:00PM EDT
Palladium Spot »1,555.69USD-2.31-0.15%Dec 028:00PM EDT
COMEX Copper »2.91USD+0.03+0.89%Mar 1911:09PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »370.75USC+0.50+0.13%May 191:44AM EDT
CBOT Wheat »450.50USC-2.25-0.50%May 191:48AM EDT
KCBT Wheat »434.75USC-1.75-0.40%May 191:38AM EDT
MGE Spring Wheat »555.00USC+2.50+0.45%May 191:30AM EDT
Euronext Milling Wheat »187.75EUR+0.000.00%May 198:00PM EDT
CBOT Soybean »899.00USC+0.50+0.06%May 191:46AM EDT

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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