7Dec

Today’s Comex news

Today’s Comex news and gold candlestick chart

  • Gold prices remained lower on Tuesday, as the recent approval of a major U.S. tax reform bill continued to lend broad support to the greenback. Comex gold futures was down $2.70 or about 0.21% at $1,275.10 a troy ounce by 08:40 a.m. ET (12:40 GMT). The greenback strengthened after the U.S. Senate passed a tax overhaul package over the weekend amid expectations that tax cuts for corporations will stimulate the U.S. economy.
  • Crude oil prices were mixed on Tuesday, as the decision last week by global oil producers to continuu limiting production lent support to the commodity, while sustained worries over U.S. production levels weighed. The U.S. West Texas Intermediate crude January contract was little changed at $57.44 a barrel by 09:50 a.m. ET (13:50 GMT). Elsewhere, Brent oil for February delivery on the ICE Futures Exchange in London was up 12 cents or about 0.19% at $62.56 a barrel.
  • Natural gas futures extended their decline into a second session on Tuesday, as updated weather forecasts showed a return to mild weather after a cold spell in the eastern U.S. U.S. natural gas futures sank 5.5 cents, or around 1.8%, to $2.930 per million British thermal units by 8:15AM ET (1315GMT), after plunging 7.6 cents, or 2.5%, a day earlier. Monday’s plunge came as weather models predicted mild weather across most parts of the continental United States starting from Dec. 15.

7dec

 

Economy News

  • Just hours after a Brexit deal crumbled, British Prime Minister Theresa May came under pressure on Tuesday from opposition parties and even some allies to soften the EU divorce by keeping Britain in the single market and customs union after Brexit. May’s ministers said they were confident they would soon secure an exit deal, though opponents scolded May for a chaotic day in Brussels which saw a choreographed attempt to showcase the progress of Brexit talks collapse at the last minute.
  •  A Mexican presidential hopeful and governor of a wealthy border state said he would cut taxes to compete with lower rates in the United States if President Donald Trump’s fiscal reform passes Congress, hinting at a broader potential response in Mexico. Jaime Rodriguez, the governor of Nuevo Leon who is seeking to become the first independent to take the presidency, said he would lower “many taxes” if successful.
  • European Union finance ministers adopted on Tuesday a blacklist of tax havens which includes 17 extra-EU jurisdictions seen as not cooperative on tax matters, French Finance Minister Bruno Le Maire said. American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates are the countries listed, officials said.
7Dec

Singapore shares continue 0.4% lower on Thursday afternoon

SINGAPORE stocks continued 0.4 for each penny bring down on Thursday afternoon, with the Straits Times Index losing 11.93 focuses to 3,385.28 as at 1.03pm.

Around 713.8 million offers worth S$516.4 million altogether changed hands, which worked out to a normal unit cost of S$0.72 per share.

SGX

The most effectively exchanged counter was Allied Tech, which fell S$0.01 to S$0.069 with 55.6 million offers evolving hands. Different actives included Jiutian Chemical and Midas.

Losers outnumbered gainers 185 to 132, or around seven down for each five up.

Idealistic viewpoint for worldwide palm oil market to help  agriculture stocks_89923250_gettyimages-160565545

A relentless development in the worldwide palm oil showcase is set to help the Singapore Exchange’s (SGX) eight agrarian items stocks that have a consolidated market capitalisation of S$29 billion.

In a market refresh report by the neighborhood bourse on Wednesday (Dec 6), the SGX said that in the 2017 year to date, these stocks found the middle value of a – 13.7 for each penny value change, contrasted with a 16.7 for each penny pick up in 2016. Palm oil costs additionally observed a value change of – 17.6 for every penny in the year-to-date.

Worldwide Palm Resources Holdings, which enlisted a value pick up of 15.4 for every penny in the year-to-date, was the best-performing stock in the division.

As per a report distributed a month ago by Zion Market Research, the worldwide palm oil advertise is estimate to develop at an exacerbated yearly rate (CAGR) of 7.2 for every penny in the vicinity of 2016 and 2021, achieving a market estimation of US$92.8 billion of every 2021 from US$65.7 billion out of 2015.

Development drivers incorporate enhancing monetary conditions, higher expectations for everyday comforts, and changing dietary patterns in rising nations, and in addition developing interest for vegetable oil as a feedstock for biodiesel creation.

The exploration firm included that the low cost of palm oil, and additionally stringent controls on trans-fat nourishments in US and Europe, has impelled buyers to change to palm from soya bean and other vegetable oils.

Palm oil costs for whatever is left of 2017 are anticipated to stay firm, given the regularly solid final quarter, as per Bloomberg Intelligence.

A further lift could originate from weaker-than-anticipated yield, and in addition a foreseen cut in Europe’s import duties for Indonesia’s biodiesel.

 

14Nov
EUR/USD

EUR/USD space for a trial of 1.1800

In perspective of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the combine could endeavor a bounce back to the 1.1800 handle.

Key Quotes

“EUR/USD keeps on amending higher. The new low was as of late not affirmed by the day by day RSI and this proposes lost drawback energy, current intraday Elliott tallies are suggesting degree for a 1.1800 bounce back. Past this bounce back we stay negative, the market has as of late finished a head and shoulders top example and a bear hail design – this is exceptionally negative value activity. The estimation down from the head and shoulders is 1.1232. The 200 day mama lies at 1.1298 only in front of here”.

“The standpoint stays negative while topped by the present October highs and early August high at 1.1858/1.1910. Extra help is offered by the mid-June high at 1.1296 and the more vital 1.1110 end of May low”.

“Over the 1.1858/1.1910 range (early August and October highs) lies the 1.2092 September high”.

EUR/USD

 

24Oct

EUR/USD stick to gains

  • Blended PMIs added support to EUR
  • Positive execution from US yields tops the upside
  • Union likely in front of ECB meeting

The energetic tone remains well and sound so far today around the mutual money, taking EUR/USD to the 1.1760/70 band following the arrival of blaze PMIs in Euroland.

EUR/USD propped up by information, looks to ECB

Spot keeps the positive design so far today after German, French and EMU’s propel fabricating PMIs are relied upon to come in on a solid note in October.

The present outcomes additionally add to yesterday’s change in the purchaser certainty gage followed by the European Commission, all loaning help to the European money.

Be that as it may, the now better tone around yields of the key US 10-year benchmark continue constraining incidental bullish endeavors in spot, while the US Dollar Index (DXY) stays unfaltering in the 93.80 zone.

Looking forward, spot is probably going to stay inside a sideline subject in front of the key ECB occasion on Thursday. This potential situation is additionally reflected in the current movement in EUR fates markets.

EUR/USD levels to observe

Right now, the match is up 0.05% at 1.1755 and a break over 1.1858 (high Oct.20) would target 1.1882 (high Oct.12) on the way to 1.1911 (high Aug.2). On the other side, the following help is situated at 1.1725 (low Oct.23) backed by 1.1686 (low Oct.6) lastly 1.1662 (low Aug.17). Also FXStreet’s specialized intersection marker (TCI) notes vital protection zone around 1.1780/85, in front of the more significant 1.1810 zone, reliable of a turn point, a Fibo retracement and the 10-day sma.

EUR/USD Stick to gains

13Oct

US Dollar, Drop on by a Thread

Ideas:

– The US Dollar is level on the day as the DXY Index is scarcely clutching its every day 21-EMA as help.

– The most engaging spots at the present time may be USD/JPY and USD/CHF, given these sets’ affectability to US financing costs and their relationship to chance flow.

The US Dollar is level on the day as the DXY Index is scarcely clutching its every day 21-EMA as help. Following the arrival of the September FOMC meeting minutes, advertise members have turned out to be more touchy to approaching swelling information, as policymakers clarified that many trusted low expansion was an element, not a bug, of present day propelled economies. With two ‘high’ significance US financial discharges on the timetable today, including the September US CPI report, there is an open door for the greenback to stem its current misfortunes.

As per a Bloomberg News review, US customer costs were insignificantly higher on a month to month premise in September, due in at +0.6% from +0.4% (m/m) and +2.3% from +1.9% (y/y). The center readings ought to be comparative, at +0.2% unch (m/m), and at +1.8% from +1.7% (y/y).

These figures aggregately have begun to push back towards the Fed’s medium-term target, and would speak to evacuating the greatest hindrance to the Fed completing on its intend to raise rates once again before the year is finished (regardless of the possibility that a portion of the upside weight is because of store network issues following Hurricanes Harvey and Irma). Any effect on the US Dollar will be opposite the skim way valuing channel.

Utilization is the most essential piece of the US economy, creating about 70% of the feature GDP figure. The best month to month knowledge we have into utilization drifts in the US may ostensibly be the Advance Retail Sales report. In September, utilization expanded, as per a Bloomberg News study, with the feature Advance Retail Sales set to increment by +1.7% (m/m). The Retail Sales Control Group, the info used to ascertain GDP, is expected in at +0.4% from – 0.2% (m/m).

Chart 1: Inverse USD/CHF, Inverse USD/JPY, Gold, and US Treasury 10-year Yield Hourly Timeframe (September to October 2017)

US Dollar, Drop on by a Thread

In like manner, around the information and into one week from now, following the loss of the DXY Index’s bullish stance, choice for long USD presentation should be oppressive until the DXY offers a clearer motion for a wide US Dollar predisposition. The most engaging spots at this moment may be USD/JPY and USD/CHF, given these sets’ affectability to US loan costs and their relationship to hazard elements. All through September and October, Gold, US yields, USD/CHF, and USD/JPY have exchanged synchronously, and this ought to for a long time to come.

Chart 2: DXY Index Daily Timeframe (May to October 2017)

US Dollar, Drop on by a Thread

With the US Treasury 10-year yield pulling back to its day by day 13-EMA (has been bolster on an end premise since September 12) following a retest of the July highs,it would show up today would stamp a vital day for the greenback. A further drop in yields through current help would recommend that the US Dollar turn since the center of September is done.

However should we see solid utilization and swelling figures early today, US yields should discover no inconvenience ascending from current pattern bolster. USD/JPY has kept up its increases above day by day 21-EMA, while additionally holding above symmetrical triangle protection backpedaling to the January swing highs. Simultaneously, USD/CHF is holding its every day 13-EMA after a breakouttest of 0.9730/70 a week ago.

 

9Oct
Asian Stocks Gain

Asian Stocks Gain- Epic Research

Ideas:

* Japan, Taiwan and South Korea were shut for occasions on Monday

* However Chinese markets were back and figured out how to pick up notwithstanding frail neighborhood numbers

* The US Dollar slipped, as did its Australian cousin

Asian markets were blended Monday, those that were open that is. Occasions took Japan, South Korea and Taiwan out of the condition, in spite of the fact that China was back following seven days in length break.

A week ago’s North Korea stresses persisted into another session. The maverick state is supposedly getting ready to test a long-go rocket, and these reports came after more hawkish editorial went for Pyongyang from US President Donald Trump.

The US Dollar slipped back a little as hazard avoidance ticked up despite the fact that, without the bellwether Tokyo advertise, activity was very curbed. The Australian Dollar was hit by some powerless Chinese administration part numbers which put the supportability of very enthusiastic development in world’s second bigger economy in an awkward light.

Australia’s ASX finished the session up 0.5% with Shanghai stocks in the green in spite of those administration area numbers. Gold costs crawled up as the greenback floundered, while raw petroleum costs were higher, supposedly as financial specialists thought about the odds of more generation cuts alongside news of a lower fix check in the US.

The rest of Monday hasn’t a great deal to offer as far as planned monetary news, and that is with all due regard to Swiss store information and the European Central Bank Executive Board part Yves Mersch who is talking later.

9Oct

Daily Comex news and gold signal

Today’s Gold signal

9 octber gold

Today’s News

1. Gold prices rose on Friday supported by a dip in the dollar following a nonfarm payrolls report that undershot forecasts but gains were capped as bullish wage growth lifted expectations for higher inflation. Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose $3.64, or 0.29%, to $1,276.76. a troy ounce.

2. President Donald Trump will announce new U.S. responses to Iran’s missile tests, support for “terrorism” and cyber operations as part of his new Iran strategy, the White House said on Friday. “The president isn’t looking at one piece of this. He’s looking at all of the bad behavior of Iran,” Sarah Huckabee Sanders, the White House press secretary, told reporters.

3. Crude oil prices settled lower on Friday as investor attention shifted to a potential disruption to energy infrastructure in the Gulf of Mexico as Tropical Storm Nate bears down on the region amid renewed oversupply concerns. On the New York Mercantile Exchange crude futures for November delivery fell 2.95% to settle at $49.29 a barrel, while on London’s Intercontinental Exchange, Brent 2.23% to trade at $55.70 a barrel.

4. Tokyo Governor Yuriko Koike does not expect her new conservative party to pick a candidate for prime minister during the campaign for the Oct. 22 election, leaving the door open to eventually backing a lawmaker from Prime Minister Shinzo Abe’s party. Koike’s new Party of Hope has emerged as a serious challenge to Abe’s Liberal Democratic Party supporter base, but she has said she would not personally contest the election. Abe called the snap election last month in hopes his ruling bloc would keep its majority in parliament’s lower house, where it now has a two-thirds “super” majority.

5. Puerto Rico needs to accelerate the timetable for restoring its power grid or else residents will flee for the mainland rather than live without electricity for months, the chairman of the territory’s largest bank said on Friday. In an interview with Reuters on Friday, Banco Popular Chairman Richard Carrion said prolonged outages could shrink the U.S. territory’s economy and hurt its banking system. More than two weeks after Hurricane Maria hit the island, most of Puerto Rico is still without electricity. With about $40 billion in assets, Banco Popular is Puerto Rico’s biggest financial institution. Carrion said 85 of the bank’s 169 branches were open, and that only about 40 percent of its cash machines were operating.

9oct

7Oct

The Singapore Stock Market This Week: UOL Group Limited Leads the Pack Higher

The Singapore advertise benchmark, the Straits Times Index (SGX: ^STI), finished Friday at 3291.3 focuses, surging 2.2% for the week.Epic Research Singapore

Out of the 30 record parts, 23 were in the green; three were inthe red while the rest were level.

Property engineer, UOL Group Limited (SGX: U14), was the greatest champ in the list, adding 5.3% to S$8.55. In the mean time, the most unmistakable washout was transport goliath, Comfortdelgro Corporation Ltd (SGX: C52). It drooped 3.8% amid the week to end Friday at S$2.00.

Somewhere else, SIA Engineering Company Ltd’s (SGX: S59) shares dove 8.6% to S$3.19.

Singapore’s securities exchange administrator questioned the flying machine designing firm for irregular exchanging movement in its offers amid the week. Accordingly, the organization said that as indicated by a report from Bloomberg, JPMorgan had offered to offer its whole stake of 38.9 million offers in the firm, which could clarify the lofty offer value decay on Wednesday.

On Friday, SIA Engineering reported that it had gone into a non-restricting Memorandum of Understanding with Air India Engineering Services Limited, a completely claimed backup of Air India Limited. The business joint effort would offer support, repair and upgrade administrations, building preparing and other auxiliary administrations at different airplane terminals in India, among others.

The SPDR STI ETF (SGX: ES3), a trade exchanged store which can be taken as an intermediary for the Straits Times Index, is currently esteemed at a trailing cost to-profit proportion of 11.3 and has a profit yield of 3%.

5Oct
USD/JPY drops

USD/JPY drops – Epic Research Updates

The USD/JPY combine neglected to push through 113 levels on yet another event, and from that point moved lower, now playing with crisp every day lows of 112.57.

USD/JPY down to 10-DMA at 112.54

The spot broke its Asian consolidative mode to the drawback, as the Yen purchasers came back to the business sectors, hopeful of some idealistic comments on the economy.

In addition, crisp offering found in the US dollar no matter how you look at it in the midst of listing Treasury yields worked together to the most recent leg down in USD/JPY. The USD file bounce back vacillated by and by close to 93.40 levels, sending the rate back towards day by day lows of 93.09.

Further, the Yen additionally gets bolster from the most recent report, in which the US saving money monster overhauled the Japanese Q3 development estimates.

Markets looked past the firm US full scale discharges, as concentrate now stays on the Fedspeaks and US dataflow, which incorporates the week by week jobless cases, exchange adjust and processing plant orders information.

USD/JPY Technical levels

To the topside, an every day close over 112.75 (5-DMA) would move hazard for a re-trial of 113 (round number) past which 113.50 (mental levels) would be back without hesitation. A break beneath 112.02 (20-DMA) would open entryways for 111.45 (200-DMA). A break lower would yield a trial of 111.09 (100-DMA).

USD/JPY drops - Epic Research Updates

5Oct

KS Energy gets additional time for new bond, warrant issuances

KS Energy said after Wednesday exchanging close, it has achieved a concurrence with the moneylenders for the proposed issue of S$80.15 million settled rate securities and 80.15 million non-recorded extra warrants, to put off the end date of the exchanges.

The changed shutting date is Dec 21, 2017, three months after the fact than the last concurred shutting date of Sept 21, 2017 as reported on Aug 1, 2017.

The loan specialists included are OCBC Bank, TAEL One Partners Ltd, Pacific One Energy Limited (POEL) and Hedy Wiluan.Ms Wiluan is the sister of KS Energy’s official director CEO and controlling investor, Kris Wiluan.

Regarding the changed shutting date, OCBC and KS Energy have on Oct 4 concurred that the unforeseen conceded sum under the terms of a back-end installment, might be equal to the collected coupon installments and reclamation premium inferable from OCBC under the current convertible bonds up to the reexamined shutting date.

KS Energy and OCBC have beforehand gone into a concurrence on Aug 1, 2017 relating to the back-end installment. The Aug 1 understanding approached KS Energy to utilize abundance money from the returns of the offer of KS Energy’s value enthusiasm for KS Distribution Pte Ltd to pay to OCBC up to the unexpected conceded sum as a back-end installment.

OCBC, POEL and Ms Wiluan are existing holders of S$45.0 million worth of convertible securities due 2017 with a 6 for every penny coupon rate at a reclamation cost of 121.75 for each penny of the vital sum. TAEL is a current holder of S$7.5 million worth of convertible securities due a year ago with a 6 for every penny coupon rate at a reclamation cost of 104.19 for each penny of the essential sum.

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