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 Off, Stocks Steady

Notes: UK PM May’s BREXIT plans were thrown into further turmoil on Monday when the speaker of Parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in fundamentally different form. She has just 2 days to win approval for her deal to leave the EU if she wants to go to a Summit with the bloc’s leaders Thursday with something to offer them in return for more time. Senior diplomats said the EU leaders could hold off making any final decision on any BREXIT delay when they meet in Brussels later this week, depending on what Mrs. May asks them for.

In Asia

Gold: Gold price has been edging up and the main driver is a softening USD. The Fed policy decision and BREXIT vote could be gold boosters short term,

  • Spot gold rose 0.3% to $1,307.02 oz,
  • US gold futures up about 0.5% to $1,307.30 oz.

Energy: Crude Oil prices are hanging just below Y 2019 highs Tuesday, supported by ongoing supply cuts led by OPEC. US sanctions against producers Iran and Venezuela are helping boosting prices, although traders say the market looks capped by rising American output.

  • NYMEX WTI Crude Oil futures are little changed at $59.09 bbl,
  • ICE Brent Crude futures +0.1% to $67.62 bbl.

Equities: Asian shares held tight ranges Tuesday ahead of the a FOMC policy meeting later this week, but were broadly supported near 6-month highs on expectations of a continuing Dovish tone.

MSCI’s broadest index of Asia-Pacific shares sans Japan was flat

Japan’s Nikkei average dropped 0.3%, while Australian stocks eased 0.1%

The benchmark Shanghai Composite flat, the blue-chip CSI 300 declining 0.2%, and the Hang Seng edging 0.1% lower.

All 3 major US stock market indexes rose Monday, lifted by the bank and tech sectors, with the DJIA, the S&P 500, and the NAS Comp adding between 0.3 and 0.4% each. The futures are flat with a Bullish bias at this writing.

Currencies: .DXY Vs a basket of 6 peer currencies barely moved and was at 96.475 close to a 2-week low. The index has lost 1.2% after hitting a 3-month high of 97.710 marked on 7 March.

The Japanese Yen +0.2% to 111.19 JPY to USD, while EUR was almost flat at $1.1342.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »59.06 USD-0.03-0.05%Mar 191:27AM EDT
ICE Brent Crude »67.63 USD+0.09+0.13%Mar 198:00PM EDT
NYMEX RBOB Gasoline »1.89 USD+0.00+0.14%Mar 1912:40AM EDT
Dubai Crude Spot »67.46 USD+0.13+0.19%Dec 021:38AM EDT
ICE Gas Oil »608.00 USD+3.00+0.49%Apr 198:00PM EDT
NYMEX No2 Heating Oil »1.97 USD+0.00+0.04%Mar 191:28AM EDT
NYMEX Nat Gas »2.85 USD-0.00-0.07%Mar 191:28AM EDT
ICE NBP Nat Gas »37.26 GBP+0.000.00%Mar 198:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,306.60USD+3.15+0.24%Dec 028:00PM EDT
COMEX 100oz Gold »1,300.30USD+0.000.00%Mar 192:50PM EDT
Silver Spot »15.38USD-0.06-0.39%Dec 028:00PM EDT
Platinum Spot »837.71USD+7.70+0.92%Dec 028:00PM EDT
Palladium Spot »1,587.51USD+4.01+0.25%Dec 028:00PM EDT
COMEX Copper »2.91USD+0.01+0.19%Mar 1912:00AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »371.50USC+0.000.00%May 191:18AM EDT
CBOT Wheat »458.00USC+1.25+0.27%May 191:28AM EDT
KCBT Wheat »438.75USC+2.25+0.51%May 191:28AM EDT
MGE Spring Wheat »562.75USC+2.00+0.36%May 191:13AM EDT
Euronext Milling Wheat »188.75EUR+0.000.00%May 198:00PM EDT
CBOT Soybean »905.75USC+0.000.00%May 191:28AM 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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