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 Down, Crude Oil Up, Stocks Up

Note: USD off 0.1% Vs Key rivals, after hitting its highest since 11 March Friday, while Asian stocks rallied as positive Chinese factory data and signs of progress in US-China trade talks supported sentiment.

In Asia

Gold: Gold prices up Monday as USD backed off 3 week highs, but gains in the metal were limited as equities rose on signs of progress in the US-China trade talks and upbeat Chinese economic data.

  • Spot gold was up 0.1% at $1,293.15 oz by 0337 GMT,
  • US gold futures were about 0.1% at $1,297.90 oz.

The most extreme part of the global growth slowdown panic has subsided a bit and the Chinese data is responsible for that, but it is a single data point which should be backed by more data.

Energy: Crude Oil prices rose Monday, adding to gains in Q-1 when the major benchmarks posted their biggest Quarterly increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.

  • ICE Brent Crude Oil for June delivery was up 43c, or 0.6%, at $68.01 bbl by 0214 GMT,
  • NYMEX WTI Crude Oil futures up 32c, or 0.5%, to $60.46 bbl.

Future gains will be limited by potential softness in the global economy as well as the ability of US producers to ramp up production when prices spike.

Hedge funds and other money managers raised their net Long US Crude Oil futures and options positions to 243,209 in the week to 26 March the US Commodity Futures Trading Commission (CFTC) said.

Equities: Stocks in Asia also took their cues from Wall Street, with the S&P 500 posting its best Quarterly gainer in a decade on Friday amid trade optimism.

Monday, Asian stocks rallied as positive Chinese factory gauges and signs of progress in US-China trade talks supported sentiment, although another defeat for British Prime Minister Theresa May’s proposed BREXIT deal added to GBP’s troubles.

MSCI’s broadest index of Asia-Pacific shares sans Japan added 1% and the Shanghai Composite Index rallied 1.7%.

Australian stocks rose 0.8%, SKorea’s KOSPI gained 1% and Japan’s Nikkei advanced more than 2%.

Currencies: Another defeat for British Prime Minister Theresa May’s proposed BREXIT deal added to GBP’s troubles.

USD backed off 3 week highs, but gains in the metal were limited as equities rose on signs of progress in the US-China trade talks and upbeat Chinese economic data.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »60.53 USD+0.39+0.64%Apr 191:04AM EDT
ICE Brent Crude »68.15 USD+0.57+0.84%Apr 191:04AM EDT
NYMEX RBOB Gasoline »1.89 USD+0.01+0.52%Apr 191:03AM EDT
Dubai Crude Spot »68.28 USD-0.11-0.16%Dec 021:10AM EDT
ICE Gas Oil »608.25 USD+3.00+0.49%Apr 1912:54AM EDT
NYMEX No2 Heating Oil »1.98 USD+0.01+0.62%Apr 191:03AM EDT
NYMEX Nat Gas »2.68 USD+0.02+0.67%Apr 191:04AM EDT
ICE NBP Nat Gas »34.61 GBP+0.000.00%Apr 1912:58PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,293.50USD+1.60+0.12%Dec 021:29AM EDT
COMEX 100oz Gold »1,291.60USD-1.40-0.11%Apr 191:00AM EDT
Silver Spot »15.15USD+0.02+0.13%Dec 021:29AM EDT
Platinum Spot »853.97USD+8.48+0.99%Dec 021:29AM EDT
Palladium Spot »1,384.95USD+1.46+0.11%Dec 021:29AM EDT
COMEX Copper »2.95USD+0.01+0.37%Apr 1912:00AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »358.75USC+2.25+0.63%May 191:18AM EDT
CBOT Wheat »457.50USC-0.25-0.05%May 191:18AM EDT
KCBT Wheat »428.25USC-1.75-0.41%May 191:01AM EDT
MGE Spring Wheat »554.25USC-0.50-0.09%May 1912:55AM EDT
Euronext Milling Wheat »185.75EUR+0.000.00%May 191:29PM EDT
CBOT Soybean»889.25USC+5.00+0.56%May 191:17AM EDT

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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