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 Mixed, Stocks Up

Note: The Chinese RMB Yuan will hold its recent gains Vs USD, and likely make a move forward from current marks over the coming year, as optimism about a US-China trade deal offsets anxiety over weak domestic economic growth, a Reuters poll showed.

In Asia

Gold: Gold gained Thursday, supported by a softening USD, as investors awaited progress on the ongoing US-China trade negotiations after reports showed that both sides were nearing a deal.

  • Spot gold rose 0.2% to $1,291.89 oz as of 0332 GMT,
  • US gold futures firmed 0.1% at $1,296.90 oz.

A Key issue is the US-China trade negotiations. There is a lot of optimism around the idea that we will see a peaceful resolution and some agreement really soon. But, if the trade talks drag out we could see more support for gold because of its implications for growth.

Energy: Crude Oil prices were mixed Thursday, with Brent edging higher toward the psych mark $70 bbl after easing in the prior session on data showing an unexpected build in US inventories.

  • ICE Brent Crude Oil futures were up 5c at $69.36 bbl by 0224 GMT,
  • NYMEX WTI Crude Oil fell 3c to $62.43 bbl.

Global benchmark Brent has risen almost 30% this year, while WTI has gained nearly 40%, with prices underpinned by tightening global supply and signs of demand picking up.

Equities: Asian shares held near 8-month highsThursday as investors awaited developments on US-China trade talks, with both sides appearing closer to signing a deal and improved risk appetite weighing on safe-haven assets like JPY.

MSCI’s broadest index of Asia-Pacific shares sans Japan took a breather after 5 days of gainers took it to its highest since late August. Chinese shares started firm with the blue-chip index up 0.9%. Hong Kong’s Hang Seng index was a bit softer.

Japan’s Nikkei edged 0.2% higher to stay near a recent 1-month top.

Currencies: The Chinese RMB Yuan will hold on to its recent gains Vs USD, and likely make a move forward from current marks over the coming year, as optimism about a US-China trade deal offsets anxiety over weak domestic economic growth, a Reuters poll showed.

.DXY was quiet Thursday, easing Vs a basket of peer currencies to 97.051. The EUR moved up to $1.1244, while reaching a 2-week Top on JPY at 125.45.

GBP gained to $1.3177 after UK PM Theresa May held talks with the opposition Labour party in a bid to break the BREXIT deadlock that may lead to a softer departure deal with the EU.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »62.37 USD-0.09-0.14%Apr 191:24AM EDT
ICE Brent Crude »69.28 USD-0.03-0.04%Apr 191:23AM EDT
NYMEX RBOB Gasoline »1.95 USD-0.00-0.22%Apr 191:23AM EDT
Dubai Crude Spot »68.82 USD-0.08-0.12%Dec 021:31AM EDT
ICE Gas Oil »612.50 USD+1.50+0.24%Apr 1912:51AM EDT
NYMEX No2 Heating Oil »2.01 USD-0.00-0.07%Apr 191:23AM EDT
NYMEX Nat Gas »2.68 USD-0.00-0.04%Apr 191:24AM EDT
ICE NBP Nat Gas »33.98 GBP+0.000.00%Apr 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,292.27USD+2.61+0.20%Dec 021:39AM EDT
COMEX 100oz Gold »1,291.80USD+1.90+0.15%Apr 1912:41AM EDT
Silver Spot »15.11USD-0.03-0.17%Dec 021:39AM EDT
Platinum Spot »874.09USD-0.69-0.08%Dec 021:39AM EDT
Palladium Spot »1,408.35USD+3.36+0.24%Dec 021:39AM EDT
COMEX Copper »2.95USD+0.000.00%Apr 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »363.50USC+0.75+0.21%May 191:33AM EDT
CBOT Wheat »472.00USC+1.00+0.21%May 191:31AM EDT
KCBT Wheat »438.25USC+1.50+0.34%May 191:31AM EDT
MGE Spring Wheat »541.00USC+6.25+1.16%May 191:29AM EDT
Euronext Milling Wheat »188.50EUR+0.000.00%May 1912:29PM EDT
CBOT Soybean »899.75USC+1.00+0.11%May 191:32AM EDT

Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :  
CONNECT WITH