Gold: Gold prices climbed Wednesday morning in Asia, despite indications that the Fed might lower interest rates in the next 2 years.
Gold Futures for February delivery hiked 0.18% to $1,250.55 at 11:37p EST (03:37 GMT) on the COMEX, while the US Dollar (.DXY), tracking the Buck against a basket of 6 peer currencies, weakened 0.01% to 97.38.
We are in a situation where the Fed has signaled they may be very close to Neutrality, meaning a few more interest rate hikes,
Energy: Crude Oil prices rose by more than 1% Wednesday on the back of a broad stock market rebound plus expectations that an OPEC-led output cut for Y 2019 would stabilize the supply/demand balance.
Disruptions to Libyan Crude Oil exports after local militia seized the country’s biggest oil field, El Sharara, were also buoying prices, traders said.
- ICE Brent Crude Oil futures were at $60.92 bbl at 0454 GMT, +72c, or 1.2% from Monday’s close in London
- NYMEX WTI Crude Orude futures were at $52.29 bbl, +64 cents, or 1.2% up from Monday’s close in NYC
The higher prices came on an increase in Asian share markets after US President Donald Trump told Reuters that trade talks with China were taking place to defuse the trade dispute between the world’s 2 biggest economies.
Equities: Most Southeast Asian stock markets rose Wednesday as the trade dispute between the United States and China ebbed faded a bit after US President Donald Trump sounded optimistic about a deal with Beijing.
President Trump in an interview with Reuters said talks were taking place with Beijing by phone and that he would not raise tariffs on Chinese imports until he was sure about a deal.
The MSCI’s broadest index of Asia-Pacific shares outside Japan firmed a modest 0.27%, after hitting a nearly 3-week low in the prior session.
USD: The US Dollar (.DXY), tracking the Buck against a basket of 6 peer currencies, weakened 0.01% to 97.38 on the Fed’s dovishness going into the December FOMC meeting next week.
Commodities: Energy, Metals and Agriculture
|Commodity||Currency||Last Trade||Price Change||% Price Change||Trade Time|
|LIGHT CRUDE CON1 Dec18||USD||52.29||+0.64||+1.24%||12/12 01:50|
|NY H ULSD JUN8 Dec18||USD||1.86||+0.02||+0.82%||12/12 01:49|
|NATURAL GAS CON1 Dec18||USD||4.40||-0.01||-0.25%||12/12 01:50|
|100 OZ GOLD C2 Dec18||USD||1,245.30||+3.40||+0.27%||12/11 21:42|
|SILVER 5000 CON1 Dec18||USD||14.50||+0.00||+0.00%||12/11 10:05|
|HG COPPER CON1 Dec18||USD||2.77||+0.00||+0.07%||12/11 21:45|
|CORN CON1 Dec18||USC||375.75||+0.75||+0.20%||12/11 21:59|
|WHEAT CON1 Dec18||USC||509.75||+0.00||+0.00%||12/11 17:35|
|SOYBEANS CON1 Jan19||USC||919.50||+4.50||+0.49%||12/12 01:49|
|SUGAR 11 CON1 Feb19||USC||12.83||+0.00||+0.00%||12/11 00:00|
|SUGAR 16 CON1 Feb19||USC||25.20||+0.00||+0.00%||12/11 00:00|
|COFFEE C CON1 Dec18||USC||97.65||+0.00||+0.00%||12/11 00:00|
|COCOA CON1 Dec18||USD||2,066.00||+0.00||+0.00%||12/11 00:00|
|FROZEN OJ CON1 Jan19||USC||137.80||+0.00||+0.00%||12/11 13:59|
|COTTON NO 2 CON1 Mar19||USC||80.02||+0.00||+0.00%||12/12 01:47|
|LIVE HOGS CON1 Dec18||USC||54.45||+0.00||+0.00%||12/11 14:04|
|LIV CAT FEB8 Dec18||USC||118.38||+0.00||+0.00%||12/11 17:27|