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

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

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

The US Financial Markets are Closed Monday in Observance of Memorial Day USA

FLASH: Gold Up, USD Off, Crude Oil Mixed, Stocks Flat

Notes: President Trump pressed Japanese Prime Minister Shinzo Abe Monday to even out a trade imbalance with the United States and expressed confidence, despite Japanese wariness, that “good things” would come from NKorea.

President Trump repeated a complaint that the Fed’s policies have kept U.S. economic growth from reaching its full potential.

Further uncertainties emerged after UK Prime Minister Theresa May said on Friday she would quit after failing to deliver BREXIT, setting up a contest that will install a new British PM who could pursue a cleaner break with the EU.

In Asia

Gold: Gold prices rose Monday as fears of a protracted US-China trade dispute hurt risk sentiment, while poor economic data from the United States bolstered bets of a Fed rate cut.

  • Spot gold + 0.2% to $1,287.03 oz as of 0455 GMT, rising for a 3rd session running,
  • US gold futures gained 0.2%, to $1,286.50 oz.

Gold has really reversed earlier losses as risk appetite in the market remains shaky.

Energy: Crude Oil prices were under pressure Monday following their biggest drops this year the week before, as concerns the US-China trade dispute could trigger a broad economic slowdown dragged, although OPEC’s supply cuts provided some support.

  • NYMEX WTI Crude Oil futures were at $58.42 bbl at 0412 GMT, -21c, or 0.4%, from Friday’s settlement,
  • Front-month ICE Brent Crude Oil futures were firmer, at $68.73 bbl, +4c above Friday’s close.

Both contracts last week registered their biggest price decliners this year amid concerns that the US-China trade dispute could accelerate an international economic slowdown.

Equities: Asia stocks hanging near 4-month lows Monday on concerns about US-China tensions.

Currencies: USD struggling against a basket of 6 peer currencies, having fallen off a 2-yr high in the prior session due in part to the U.S.-China trade dispute.

EUR ranged after the weekend’s European Parliament elections.

Commodities (quotes): Energy, Metals, Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »58.36 USD-0.27-0.46%Jun 1912:00AM EDT
ICE Brent Crude »68.67 USD-0.02-0.03%May 191:02AM EDT
NYMEX RBOB Gasoline »1.93 USD+0.000.00%May 1912:00AM EDT
Dubai Crude Spot »66.07 USD-0.17-0.26%Dec 021:14AM EDT
ICE Gas Oil »612.00 USD+7.25+1.18%Jun 191:00AM EDT
NYMEX No2 Heating Oil »1.98 USD+0.00+0.22%May 1912:00AM EDT
NYMEX Nat Gas »2.60 USD+0.00+0.12%May 1912:00AM EDT
ICE NBP Nat Gas »29.93 GBP+0.000.00%May 197:00PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,286.87USD+2.23+0.17%Dec 021:08AM EDT
COMEX 100oz Gold »1,283.00USD+0.000.00%May 197:01PM EDT
Silver Spot »14.62USD+0.06+0.41%Dec 021:10AM EDT
Platinum Spot »803.33USD+1.33+0.16%Dec 021:10AM EDT
Palladium Spot »1,330.40USD-4.60-0.35%Dec 021:08AM EDT
COMEX Copper »2.71USD+0.000.00%May 197:01PM EDT
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »404.25USC+0.000.00%Jul 195:15PM EDT
CBOT Wheat »489.50USC+0.000.00%Jul 195:25PM EDT
KCBT Wheat »442.00USC+0.000.00%Jul 191:00AM EDT
MGE Spring Wheat »548.00USC+0.000.00%Jul 193:00PM EDT
Euronext Milling Wheat »178.00EUR+0.000.00%Sep 1912:29PM EDT
CBOT Soybean »829.75USC+0.000.00%Jul 195:24PM 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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