In Asia: Gold Steady, USD Mixed/Firm, Stocks Falling + Commodities

In Asia: Gold Steady, USD Mixed/Firm, Stocks Falling + Commodities

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

In Asia

Notes: China feeling the pain, the nation’s November retail sales grew at the weakest pace since Y 2003 and industrial output rose the least in nearly 3 years as domestic demand softened further, underlining rising risks to the economy as Beijing now works to quickly resolve the trade dispute with the United States

Gold: Gold prices were steady Friday supported by the uncertainty around the Fed’s policy outlook for Y 2019, but the precious Yellow metal was on track to mark its biggest weekly decline in 5 weeks, as a firmer USD weighed on the sentiment.

  • Spot gold was steady at $1,241.99 oz, as of 0355 GMT. On Thursday, prices fell to their lowest mark since 7 December at $1,239.83.
  • US gold futures down 0.1% at $1,246 oz

Note: There are not many immediate risks now, so some people are holding on to their positions in gold and not liquidating

Energy: Crude Oil prices gave up some of Thursday’s gains following inventory declines in the United States and expectations that the global market could have a deficit sooner than they had previously thought.

  • NYMEX WTI Crude Oil futures off 0.6% to $52.27 bbl
  • ICE Brent Crude Oil off 0.8% to $60.94, as both gained more than 2.5% Thursday.

Equities: Asian shares fell Friday after China reported a set of weak data, fanning fresh worries of a slowdown in the world’s 2nd-biggest economy and leaving investors fretting over the wider impact of the yet unresolved US-China trade dispute. 

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3 percent. Japan’s Nikkei, also dragged down by the country’s weak tankan sentiment index, dropped 2.0%.

China’s benchmark Shanghai Composite and the blue-chip CSI 300 closed down 1.5% and 1.7%, respectively, and Hong Kong’s Hang Seng was off 1.5%

Financial spread-betters expect London’s FTSE Frankfurt’s DAX and Paris’s CAC to fall between 0.7 and 0.8% when they open.

Currencies: The Chinese RMB Yuan weakened 0.15% to 6.8888 per USD in offshore trade following the retail data. The EUR is ranged within $1.13-$1.14. 

The GBP fell 0.4% to $1.2615, on track to post its 5th week running of losses. It is down 0.9% so far this week.

The USD stood at 113.57 JPY, flat on the day but above this week’s low of 112.245 set Monday.

Cryptocurrency Bitcoin (BTC) fell as low as $3,200, a fresh 15-month low.

Note: A rash of bomb threats were e-Mailed Thursday to hundreds of businesses, public offices and schools across the US and Canada demanding payment in cryptocurrency, but none of the threats appeared credible, law enforcement officials said.

Commodities: Energy, Metals and Agriculture Grains

COMMODITYLASTCHANGE% CHANGEEXP DATETIME
NYMEX Crude Oil »52.26 USD-0.32-0.61%Dec 182:26AM EST
ICE Brent Crude »61.03 USD-0.42-0.69%Dec 187:00PM EST
NYMEX RBOB Gasoline »1.46 USD-0.01-0.96%Dec 182:24AM EST
Dubai Crude Spot »59.42 USD-0.58-0.98%Dec 022:36AM EST
ICE Gas Oil »560.50 USD+3.00+0.54%Jan 197:00PM EST
NYMEX No2 Heating Oil »1.87 USD-0.01-0.53%Dec 182:26AM EST
NYMEX Nat Gas »4.04 USD-0.08-2.00%Dec 182:26AM EST
ICE NBP Nat Gas »66.53 GBP+0.000.00%Dec 187:00PM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
Gold Spot »1,239.92USD-2.14-0.17%Dec 027:00PM EST
COMEX 100oz Gold »1,239.80USD-2.90-0.23%Dec 181:32AM EST
Silver Spot »14.62USD-0.14-0.95%Dec 027:00PM EST
Platinum Spot »793.60USD+0.61+0.08%Dec 027:00PM EST
Palladium Spot »1,242.20USD-18.04-1.45%Dec 027:00PM EST
COMEX Copper »2.75USD-0.02-0.58%Dec 1812:50AM EST
COMMODITYLASTCHANGE% CHANGEEXP DATETIME
CBOT Corn »375.50USC+0.000.00%Dec 185:22PM EST
CBOT Wheat »527.75USC+0.000.00%Dec 185:37PM EST
KCBT Wheat »492.50USC+0.000.00%Dec 181:00AM EST
MGE Spring Wheat »580.50USC+0.000.00%Dec 182:07AM EST
Euronext Milling Wheat »207.50EUR+0.000.00%Mar 197:00PM EST
CBOT Soybeans »902.25USC-4.75-0.53%Jan 192:29AM EST

Have a terrific weekend.

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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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