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

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

FLASH: Gold Lower, USD Up, Crude Oil Up, Stocks Higher

Notes: US Secretary of State Mike Pompeo announced “that as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian Crude or condensate.”

US Treasury Secretary Steve Mnuchin told reporters trade negotiations between the Washington and their Chinese counterparts were “making a lot of progress.”

In Asia

Gold: Gold moved lower Tuesday as strong equities provided a risk-conducive backdrop for investors, countering support from Washington’s move to end waivers on Iranian Crude Oil sanctions.

  • Spot gold fell 0.2% to $1,272.66 oz as of 0557 GMT,
  • US gold futures -0.2% to $1,274.60 oz.

Gold is currently trying to find a short-term bottom around $1,274-1,275 oz, especially as equity markets continue to rally.

Energy: Crude Oil prices were near Y 2019 highs Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran.

  • ICE Brent Crude Oil futures were at $74.29 bbl at 0442 GMT, +3% from Monday’s settlement
  • WTI Crude Oil futures at $65.86 by 0239 GMT, +0.5% from Monday’s settlement.

Despite the move by Washington Vs Iran, Goldman Sachs said global Crude Oil markets would be able to cope with the Iran disruption as there is enough spare capacity from other suppliers.

Equities: Stocks in Asia rose a bit Tuesday as many markets reopened after the long Easter Holiday.

MSCI’s broadest index of Asia-Pacific shares sans Japan was up 0.1%, Japan’s Nikkei flat to little changed.

Analysts believe Beijing’s message signaled a more tempered approach in easing policy amid worries about debt growth, and sent local stocks to their heaviest fall in almost 4 weeks Monday.

On Wall Street, stocks finished mixed Monday as the benchmark S&P 500 index was about 1% away from its record high hit in September.

Currencies: .DXY is near a Y 2019 high of 97.71 marked in early March.
Against JPY, USD was – 0.1 percent at 111.82, while EUR was steady Vs USD at 1.1252.

The Canadian dollar rose 0.4% Vs USD overnight and last traded at C$1.3359

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

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »65.41 USD+1.41+2.16%Apr 192:24AM EDT
ICE Brent Crude »73.69 USD+1.72+2.33%Apr 192:37AM EDT
NYMEX RBOB Gasoline »2.12 USD+0.04+2.04%Apr 192:38AM EDT
Dubai Crude Spot »72.56 USD+1.23+1.70%Dec 022:48AM EDT
ICE Gas Oil »644.75 USD+9.25+1.43%May 192:38AM EDT
NYMEX No2 Heating Oil »2.10 USD+0.03+1.53%Apr 192:37AM EDT
NYMEX Nat Gas »2.50 USD+0.01+0.52%Apr 192:38AM EDT
ICE NBP Nat Gas »34.41 GBP+0.000.00%Apr 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,277.02USD+2.01+0.16%Dec 022:49AM EDT
COMEX 100oz Gold »1,271.90USD+0.000.00%Apr 197:01PM EDT
Silver Spot »15.02USD+0.09+0.61%Dec 022:49AM EDT
Platinum Spot »906.65USD+6.15+0.68%Dec 022:49AM EDT
Palladium Spot »1,421.47USD-0.53-0.04%Dec 022:49AM EDT
COMEX Copper »2.93USD+0.000.00%Apr 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »357.75USC-0.75-0.21%May 192:20AM EDT
CBOT Wheat »440.25USC-4.00-0.91%May 192:39AM EDT
KCBT Wheat »416.00USC-4.00-0.96%May 192:23AM EDT
MGE Spring Wheat »520.00USC-3.25-0.62%May 192:24AM EDT
Euronext Milling Wheat »183.50EUR-1.50-0.82%May 1912:29PM EDT
CBOT Soybeans »881.00USC+0.50+0.06%May 192:40AM 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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