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

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

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

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

Note:  3 of 8 countries granted waivers by Washington to import Crude Oil from Iran have cut the imports to Zero, the improved global market conditions would help reduce Iranian exports further.

UK  Prime Minister Theresa May said Tuesday she would seek another BREXIT delay to agree an EU divorce deal with the opposition Labour leader.

In Asia

Gold: Gold prices were steady Wednesday on a weaker USD, after recovering from a 4-week low in Tuesday’s session, even as safe-haven demand for the precious Yellow metal was muted on a rally in equities to multi-month highs.

  • Spot gold was flat at $1,293.33 oz as of 0545 GMT,
  • US gold futures up 0.2% at $1,297.70 oz.

There will not be much movement in gold prices as stocks have gone up to their highs in Asia and investors are not seeing gold as a safe-haven in this risk on scenario.

Energy: Crude Oil prices rose for a 4th day running Wednesday, with support from OPEC-led supply cuts and US sanctions overshadowing an industry report showing an unexpected rise in US inventories last week.

  • ICE Brent Crude futures rose 35c, or 0.5%, to $69.72 bbl by 0207 GMT, after earlier reaching $69.87,
  • NYMEX WTI Crude Oil rose 22c, or 0.4%, to $62.80 bbl, earlier rising to $62.90 early.

The production cuts by OPEC+ are providing a nice backdrop here for higher prices and until we see US production reassert itself, the easier move is higher for Crude Oil.

Equities: Asian shares up to 7-month highs Wednesday as investors are seeing signs of progress in US-China trade talks and brisk economic data.

MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.5% around 0310 GMT, after earlier touching its highest mark since late August.

The index has risen nearly 3% since last Thursday following reports of progress in trade talks between the US and China, as well as reassuring factory activity data from both countries.

Australian shares were up 0.5%, and Japan’s Nikkei stock index added 0.8%. Chinese blue-chips were flat, while Hong Kong’s Hang Seng index added 0.7%.

Tuesday, the DJIA fell 0.3 percent to 26,179.13 pts, the S&P 500 was flat and the NAS Comp added 0.25% to 7,848.69.

Currencies: .DXY weakened about 0.2% Vs its peers, thereby making bullion cheaper for holders of other currencies.

USD strengthened 0.15% Vs the JPY to 111.48 and EUR added 0.17% to buy $1.1221.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »62.87 USD+0.29+0.46%Apr 191:43AM EDT
ICE Brent Crude »69.78 USD+0.41+0.59%Apr 191:43AM EDT
NYMEX RBOB Gasoline »1.93 USD+0.01+0.33%Apr 191:43AM EDT
Dubai Crude Spot »69.22 USD+0.29+0.42%Dec 021:52AM EDT
ICE Gas Oil »615.50 USD+1.75+0.28%Apr 191:04AM EDT
NYMEX No2 Heating Oil »2.02 USD+0.01+0.32%Apr 191:43AM EDT
NYMEX Nat Gas »2.68 USD-0.00-0.04%Apr 191:43AM EDT
ICE NBP Nat Gas »32.15 GBP+0.000.00%Apr 1911:59AM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,193.71USD-7.73-0.65%Dec 027:00PM EDT
COMEX 100oz Gold »1,291.20USD+1.20+0.09%Apr 1910:53PM EDT
Silver Spot »14.07USD-0.12-0.88%Dec 027:00PM EDT
Platinum Spot »795.49USD-7.01-0.88%Dec 027:00PM EDT
Palladium Spot »980.50USD-5.00-0.51%Dec 027:00PM EDT
COMEX Copper »2.90USD+0.000.00%Apr 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »362.25USC+0.75+0.21%May 192:00AM EDT
CBOT Wheat »464.00USC+1.25+0.27%Dec 021:00AM EDT
KCBT Wheat »432.75USC-0.50-0.12%May 191:53AM EDT
MGE Spring Wheat »542.25USC+0.50+0.09%May 191:56AM EDT
Euronext Milling Wheat »187.25EUR+0.000.00%May 1912:29PM EDT
CBOT Soybean »901.00USC+1.00+0.11%May 191:59AM 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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