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 Firm,Stocks Eased

Note: This week the world’s investors are focused on geopolitical events and big bank earnings, as the S&P 500 ends 8 day rally with a Fibo recap.

Investors will also focus on a European Central Bank (ECB) meeting Wednesday.

President Donald Trump threatened to impose tariffs on $11-B worth of European Union products, heightening tensions over a long-running transatlantic Airbus subsidy dispute.

EU leaders are likely to grant UK PM Theresa May a 2nd delay to BREXIT, but they could demand she accepts a much longer extension as France pushed for conditions to limit Britain’s ability to undermine the single currency bloc.

In Asia

Gold: Gold prices down Wednesday, but the precious Yellow metal remained near 2-week highs marked Tuesday, as equities declined on concerns over global growth and trade tensions between the United States and Europe.

  • Spot gold down 0.1% to $1,302.36 oz at 0518 GMT,
  • US gold futures -0.2% to $1,306 oz.

While USD gained slightly Vs Key rivals, a slip in Asian equities from 8 month highs kept bullion underpinned above the Key $1,300 psych mark.

A strong Buck makes gold costlier for investors holding other currencies.

Energy: Crude Oil prices firm after marking 5-month highs Tuesday as fighting in Libya raised supply disruption concerns.

  • US Crude Oil (WTI) futures stood at $64.10 bbl, up 0.2% after rallying to a 5-month high at $64.79 bbl Tuesday,
  • ICE Brent Crude Oil futures were at $70.63 bbl.

Equities: Asian shares slipped from 8-month highs Wednesday; the IMF lowered its global growth outlook, as the US declares it is set to impose tariffs on EU, especially Germany and France just as trade talks are about to begin.

European shares to open lower, with Britain’s FTSE futures dipping 0.1% and Germany’s DAX futures off 0.02%.

MSCI’s broadest index of Asia-Pacific shares sans Japan dropped 0.1%, a day after it hit its highest marks since 1 August 2018.

The Shanghai Composite Index fell 0.4%, and Japan’s Nikkei lost 0.7%

On Wall Street, the S&P 500 gave up 0.61%, and the NAS Comp declined 0.56% Tuesday.

MSCI’s broadest gauge of the world’s stock markets was down slightly from Tuesday’s 6-month highs, up roughly 19% from 2-year lows marked in December 2018

Currencies: Major currencies flat to little changed with an immediate focus on the European leaders’ Summit and the European Central Bank’s policy meeting.

The USD flat at 111.125 JPY having fallen 0.5% so far this week

The EUR firm at $1.1260, extending its slow recovery from a 4-week low of $1.1183 marked on 2 April.

The GBP was little changed at $1.3059.

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

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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