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: The world’s nvestors are now focused on geopolitical events and big bank earnings.

In Asia

Gold: Gold prices rose to a 1-week high Monday as USD edged lower, while investors awaited minutes of the Fed’s March FOMC meeting Wednesday.

  • Spot gold gained about 0.4% to $1,295.81 oz by 0358 GMT, having hit a session high of $1,296.69 early,
  • US gold futures were also up 0.4% at $1,300.10 oz.

Hedge funds and money managers slashed their Bullish bet in COMEX gold in the week up to 2 April, the Commodity Futures Trading Commission (CFTC) said Friday.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), fell 3% in the prior week, its biggest weekly percentage decline since end-November 2016.

Energy: Crude Oil prices rose to their highest marks since November 2018 Monday, driven North by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, and strong US jobs data.

  • ICE Brent Crude Oil futures were at $70.65 bbl at 0441 GMT Monday, +31c, or 0.4% from Friday’s close.
  • NYMEX WTI Crude Oil futures were up 31c, or 0.5% at $63.39 bbl.

Brent and WTI Crude Oil both hit their highest marks since November at $70.76 and $63.48 a barrel, respectively, early Monday.

The Organization of the Petroleum Exporting Countries (OPEC) and non-affiliated allies like Russia pledged to withhold around 1.2-M BPD of supply this year.

Equities: Asian shares moved up to 7-month highs Monday as investors cheered a rebound in US payrolls and hints of more stimulus in China.

Chinese blue chips climbed 1.4% to territory not seen since March 2018 MSCI’s broadest index of Asia-Pacific shares sand Japan followed by gaining 0.4% to its highest since August.

Japan’s Nikkei also made its high of the year so far and was last up 0.1%. E-Mini futures for the S&P 500 were little changed.

On Wall Street, the benchmark S&P 500 closed higher for its 7th trading day running last week, the longest winning streak since October 2017.

Currencies: .DXY is down 0.1% against Key rivals

USD flat at 97.329 against a basket of currencies on Monday, but remained short of the March peak at 97.710 which marks major chart resistance.

USD held its recent gainer on JPY at 111.52, but again needs to clear the March top of 112.12 to confirm uptrend.

EUR has been undermined grim data out of Europe and idled at $1.1218 not far from its recent 20-month low at $1.1174.

EUR had trouble at $1.3046 as time ticks away to Britain’s departure from the European Union on 12 April , with no deal agreed.

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »63.33 USD+0.25+0.39%Apr 191:34AM EDT
ICE Brent Crude »70.62 USD+0.28+0.40%Apr 191:33AM EDT
NYMEX RBOB Gasoline »1.98 USD+0.01+0.62%Apr 191:30AM EDT
Dubai Crude Spot »70.13 USD+0.28+0.40%Dec 021:44AM EDT
ICE Gas Oil »625.25 USD+7.25+1.16%Apr 191:29AM EDT
NYMEX No2 Heating Oil »2.05 USD+0.01+0.26%Apr 191:34AM EDT
NYMEX Nat Gas »2.68 USD+0.01+0.49%Apr 191:34AM EDT
ICE NBP Nat Gas »41.09 GBP+0.000.00%Apr 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,296.54USD+5.24+0.40%Dec 021:49AM EDT
COMEX 100oz Gold »1,293.40USD+3.00+0.23%Apr 199:04PM EDT
Silver Spot »15.09USD+0.01+0.07%Dec 021:48AM EDT
Platinum Spot »905.70USD+10.70+1.18%Dec 021:49AM EDT
Palladium Spot »1,372.56USD+2.56+0.19%Dec 021:49AM EDT
COMEX Copper »2.89USD+0.000.00%Apr 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »362.75USC+0.25+0.07%May 191:43AM EDT
CBOT Wheat »463.75USC-4.00-0.86%May 191:43AM EDT
KCBT Wheat »428.75USC-2.50-0.58%May 191:39AM EDT
MGE Spring Wheat »524.00USC+1.50+0.29%May 191:33AM EDT
Euronext Milling Wheat »189.25EUR+0.000.00%May 1912:29PM EDT
CBOT Soybean »902.00USC+3.00+0.33%May 191:43AM 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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