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

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


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

Note: Investors are now awaiting the US jobs numbers for more signals on the strength of the economy.

Reuters reported Saudi Arabia is threatening to sell its Crude Oil in currencies other than USDs if Washington passes a bill exposing OPEC members to US antitrust lawsuits, 3 sources familiar with Saudi energy policy said.

In Asia

Gold: Gold slipped Friday, but was trading above the 10-wk low marked Thursday, as USD rose Vs JPY on signs of progress in the US-China trade dispute and strong US economic data.

  • Spot gold slipped 0.3% to $1,288.75 oz by 0540 GMT,
  • US gold futures were down about 0.1% at $1,293.70 oz.

The market is expecting some positivity in the US NFPs data Friday, so if it moves against expectations there might be some sharp fluctuations in gold price.

Gold Thursday breached its 100-Day MA around $1,282 oz for the 1st time since at least November, pressured by robust US data and an improvement in risk appetite.

Energy: Crude Oil prices fell Friday, with Brent slipping away from the $70 mark reached Thursday, pulled down by worries about progress in the US-China trade talks.

  • ICE Brent Crude Oil futures dropped 15c, or 0.2%, to $69.25 bbl by 0455 GMT,
  • NYMEX WTI Crude Oil was down 1c at $62.09.

The United States and China, the world’s two biggest oil consumers, could be close to a deal to end their trade dispute though some enforcement details remain.

Equities: Asian share markets consolidated their weekly gains Friday as US-China talks produced headlines but no conclusions, while caution ahead of US NFPs and a Holiday in China dampened volatility.

MSCI’s broadest index of Asia-Pacific shares sans Japan eased 0.1%, but was only just off its highest since the end of August. The index was still up 1.8% on the week and 13% YTD.

Japan’s Nikkei added 0.3%, to be 2.8% firmer for the week. E-Mini futures for the S&P 500 edged up 0.1%.

Currencies: .DXY against a basket of currencies the USD had bounced back to 97.287, from Wednesday’s low of 96.962.

EUR flat at $1.1223 having dipped overnight in the wake of poor German data.

GBP stalled at $1.3077 as markets awaited some clarity on where BREXIT was heading.

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

NYMEX Crude Oil »62.12 USD+0.02+0.03%Apr 192:07AM EDT
ICE Brent Crude »69.27 USD-0.13-0.19%Apr 192:05AM EDT
NYMEX RBOB Gasoline »1.93 USD-0.01-0.52%Apr 192:05AM EDT
Dubai Crude Spot »69.00 USD-0.04-0.06%Dec 022:15AM EDT
ICE Gas Oil »615.00 USD-0.75-0.12%Apr 191:49AM EDT
NYMEX No2 Heating Oil »2.01 USD-0.00-0.05%Apr 192:05AM EDT
NYMEX Nat Gas »2.64 USD-0.00-0.19%Apr 192:05AM EDT
ICE NBP Nat Gas »36.75 GBP+0.92+2.50%Apr 192:06AM EDT
Gold Spot »1,287.86USD-4.27-0.33%Dec 022:28AM EDT
COMEX 100oz Gold »1,288.70USD-0.30-0.02%Apr 191:18AM EDT
Silver Spot »15.13USD-0.02-0.11%Dec 022:28AM EDT
Platinum Spot »895.06USD-2.55-0.29%Dec 022:28AM EDT
Palladium Spot »1,371.77USD+5.77+0.42%Dec 022:28AM EDT
COMEX Copper »2.91USD+0.000.00%Apr 197:01PM EDT
CBOT Corn »364.50USC-0.75-0.21%May 192:25AM EDT
CBOT Wheat »466.00USC-4.75-1.02%May 192:25AM EDT
KCBT Wheat »434.50USC-5.00-1.15%May 192:19AM EDT
MGE Spring Wheat »526.75USC-0.50-0.09%May 192:19AM EDT
Euronext Milling Wheat »189.50EUR+0.000.00%May 1912:29PM EDT
CBOT Soybean »902.25USC-4.25-0.47%May 192:26AM 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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