Gold Silver Reports (GSR) – Crude Oil Slips Below $70, Dollar Flat – Asian stocks climbed Tuesday, extending a gradual recovery after declines in recent weeks stoked by concerns about the vulnerabilities of emerging-markets in the face of higher U.S. yields, a stronger dollar and costlier energy prices.
The dollar was little changed, and benchmark 10-year Treasury yields remained below 3 percent, though some developing markets still struggled — Indonesia’s rupiah tumbled to its weakest since 2015, and its government bonds slumped. Stocks in Japan advanced along with those in Australia, Hong Kong and South Korea. West Texas Intermediate oil retreated below $70 a barrel after reaching the highest since 2014.
Crude Oil is set to remain in focus amid speculation the U.S. may pull out of a nuclear accord with Iran, escalating tensions in the Middle East and potentially disrupting supplies from that OPEC producer. President Donald Trump is scheduled to announce his decision on Tuesday. Key allies including Germany, France and the U.K. have opposed the withdrawal.
Back in emerging markets, while Turkey’s lira and its equities retreated Monday, Argentina’s peso seemed to stabilize following a tumultuous week of unscheduled central bank interest-rate increases. – Neal Bhai Reports (NBR)
