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

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

$GLD,$SLV,$USD,$USO,$OIL,$SOY,$CORN,$WEAT

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

Note: China’s PMI number was the most significant monthly increase since Y 2012, which should ease concerns around a potential threat to Crude Oil demand.

In Asia

Gold: Gold prices declined to a more than 3-week lows Tuesday as waning global economic slowdown concerns lifted USD and equity markets.

  • Spot gold was flat at $1,286.85 oz by 0332 GMT, after touching its lowest since 8 March at $1,285.80 early in the session,
  • US gold futures were down about 0.2% at $1,291.30 oz.

My work shows that on the technical front, $1,275 – 1,280 oz is still the Key longer-term support for gold.

Concerns we saw emerge in the past few weeks around economic growth has certainly eased and that shift in sentiment in the past 2 days resulted in little bit of profit taking in gold market.

Energy: Crude Oil prices rose to new Y 2019 highs Tuesday, supported by firm Chinese economic data that eased demand concerns, the possibility of more sanctions on Iran and further Venezuelan supply disruptions.

  • ICE Brent Crude Oil +32c, or 0.5%, to $69.33 bbl by 0212 GMT,
  • NYMEX WTI Crude Oil futures +30c, or 0.5%, to $61.89 bbl, after earlier rising above $62 for the 1st time since early November 2018.

Positive data from the world’s 2 biggest economies, the United States and China bolstered prices, with China’s manufacturing sector unexpectedly returning to growth for the first time in four months during March, figures showed Monday.

Equities: MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.2%, marking 7-month highs after rallying more than 1% in Monday’s session.

Australian shares gained half a percent and Japan’s Nikkei advanced 0.3%, extending its gains for a 3rd session running.

The Shanghai Composite Index +0.1% while Hong Kong’s Hang Seng Index was flat to unchanged.

Wall Street shares spiked Monday, with the S&P 500 and DJIA both rising more than 1%, with the DJIA lifted by sharp gains in Caterpillar (NYSE:CAT) and Boeing (NYSE:BA)

Currencies: .DXY tracks USD against Key rivals, was trading close to 3-week highs posted Monday.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »61.72 USD+0.13+0.21%Apr 191:00AM EDT
ICE Brent Crude »69.11 USD+0.10+0.14%Apr 1912:59AM EDT
NYMEX RBOB Gasoline »1.90 USD+0.00+0.09%Apr 191:00AM EDT
Dubai Crude Spot »68.55 USD-0.06-0.09%Dec 021:10AM EDT
ICE Gas Oil »609.50 USD+2.75+0.45%Apr 1912:52AM EDT
NYMEX No2 Heating Oil »1.99 USD+0.00+0.05%Apr 1912:52AM EDT
NYMEX Nat Gas »2.69 USD-0.02-0.59%Apr 191:00AM EDT
ICE NBP Nat Gas »33.34 GBP+0.000.00%Apr 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,287.08USD-0.33-0.03%Dec 021:29AM EDT
COMEX 100oz Gold »1,285.00USD-3.40-0.26%Apr 1911:32PM EDT
Silver Spot »15.07USD-0.03-0.23%Dec 021:29AM EDT
Platinum Spot »849.61USD+2.11+0.25%Dec 021:29AM EDT
Palladium Spot »1,416.10USD-3.90-0.28%Dec 021:29AM EDT
COMEX Copper »2.92USD+0.000.00%Apr 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »363.00USC+1.25+0.34%May 191:13AM EDT
CBOT Wheat »462.75USC+0.000.00%May 191:26AM EDT
KCBT Wheat »434.25USC-0.25-0.06%May 191:26AM EDT
MGE Spring Wheat »553.00USC+0.000.00%May 191:17AM EDT
Euronext Milling Wheat »187.00EUR+0.000.00%May 1912:29PM EDT
CBOT Soybean »898.75USC+3.25+0.36%May 191:25AM 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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