Asia: Gold, USD, Crude Oil, Stocks & Commodities

Asia: Gold, USD, Crude Oil, Stocks & Commodities


FLASH: Gold Steady, USD Down, Crude Oil Down, Stocks Up

Notes: EU leaders have given Prime Minister Theresa May two weeks’ reprieve, until 12 April, before Britain could lurch out of the EU if she fails to persuade lawmakers to back the withdrawal treaty she concluded with Brussels.

A US trade delegation headed by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit China on 28-29 March which will be followed by a trip by Chinese Vice Premier Liu He to Washington in early April.

In Asia

Gold: Gold was steady Friday below a 3-wk highs hit the day before, pressured by rising stock markets but remaining on track for a 3rd straight weekly gainer after the Fed said there would be no further interest rate hikes this year.

  • Spot gold was steady at $1,309.25 oz as of 0403 GMT,
  • US gold futures gained 0.1% to $1,309 oz.

There was lot of profit-taking in gold after Thursday’s big jump and investors went into equity markets.

Energy: Crude Oil prices eased from Y 2019 highs Friday as economic growth concerns weighed on sentiment, pausing a 3-month rally driven by OPEC-led supply cuts and US sanctions against Iran and Venezuela.

  • ICE Brent Crude Oil futures were $67.72 bbl at 0419 GMT, -14c, or 0.2% prior,
  • NYMEX WTI) Crude Oil futures were at $59.84 bbl, -14c, or 0.2% from Thursday’s settlement.

The International Energy Agency (IEA) estimated that the United States would become a net Crude Oil exporter by Y 2021.

Economic growth has slowed across Asia, Europe and North America, potentially denting fuel consumption.

Equities: Asian shares marked 6.5-month highs Friday after upbeat US data and optimism in the tech sector lifted Wall Street stocks.

MSCI’s broadest index of Asia-Pacific shares sans Japan rose 0.3%, led by 0.5% gainers in the info tech sector, while Japan’s Nikkei bucked the trend and lost 0.2%.

On Wall Street, the S&P 500 gained 1.09, while the NAS Comp rallied 1.42%, both hitting 5-month highs on the day.

Currencies: USD eased against a basket of peer currencies on Friday while GBP gained slightly on news that Prime Minister Theresa May had bought a bit more time to resolve when and how Britain exits from the European Union. .DXY -0.2% to 96.314.

GBP rose a quarter of a percent to $1.3140. It had retraced sharp losses overnight, when it touched lows at $1.3004.

Against JPY, USD was lower to 110.78 JPY, staying well away from the 111 mark breached before the Fed’s rate announcement.

EUR was flat at $1.1375 after slipping one-third of a percent overnight.

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

NYMEX Crude Oil »59.87 USD-0.11-0.18%Apr 191:32AM EDT
ICE Brent Crude »67.75 USD-0.11-0.16%Mar 198:00PM EDT
NYMEX RBOB Gasoline »1.93 USD+0.01+0.61%Mar 191:25AM EDT
Dubai Crude Spot »67.65 USD+0.01+0.01%Dec 021:41AM EDT
ICE Gas Oil »609.25 USD-1.00-0.16%Apr 198:00PM EDT
NYMEX No2 Heating Oil »1.98 USD-0.01-0.32%Mar 1910:56PM EDT
NYMEX Nat Gas »2.79 USD-0.03-0.97%Mar 191:31AM EDT
ICE NBP Nat Gas »37.11 GBP+0.000.00%Mar 198:00PM EDT
Gold Spot »1,308.63USD-0.57-0.04%Dec 028:00PM EDT
COMEX 100oz Gold »1,306.10USD+0.000.00%Mar 197:01PM EDT
Silver Spot »15.47USD+0.01+0.05%Dec 028:00PM EDT
Platinum Spot »858.68USD+0.18+0.02%Dec 028:00PM EDT
Palladium Spot »1,606.01USD-2.49-0.16%Dec 028:00PM EDT
COMEX Copper »2.90USD+0.000.00%Mar 194:04PM EDT
CBOT Corn »378.50USC+2.25+0.59%May 191:40AM EDT
CBOT Wheat »466.50USC+0.000.00%May 191:36AM EDT
KCBT Wheat »448.75USC+1.75+0.39%May 191:19AM EDT
MGE Spring Wheat »571.00USC-0.25-0.04%May 191:27AM EDT
Euronext Milling Wheat »189.00EUR+0.000.00%May 198:00PM EDT
CBOT Soybean »911.50USC+1.00+0.11%May 191:38AM 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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