Daily Archives: April 23, 2014

23Apr

Comex Commodity Trading Signals and Market News – 23th April 2014

Gold prices rebounded in Asia on Wednesday with China in focus as the HSBC April flash Performance of Manufacturing Index suggested China’s manufacturing sector is on track to record a fifth straight month of contraction, though there was a slight increase from March. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,284.80 a troy ounce up 0.29%, after hitting an overnight session low of $1,277.60 and off a high of $1,292.70.

Silver for May delivery was up 0.48% at US$19.453 a troy ounce, while copper futures for May delivery rose 0.03% at US$3.059 a pound.

Crude oil prices rebounded in Asia on Wednesday after industry data pointed to a mixed stocks picture on U.S. supplies. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $101.93 a barrel, up 0.18%, after hitting an overnight session low of $101.51 a barrel and a high of $103.66 a barrel.

Brent crude on the ICE futures exchange fell 68 cents, or 0.6%, to $109.27 a barrel on Tuesday.

Natural gas prices posted modest gains on Tuesday after updated weather-forecasting models called for below-normal temperatures across portions of the central and eastern U.S. in the coming week. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.738 per million British thermal units during U.S. trading, up 0.49%. The commodity hit session high of $4.760 and a low of $4.696. The June contract settled down 0.82% on Monday to end at $4.715 per million British thermal units.

Base metals jostled for position during Tuesday LME premarket trading, awaiting direction and incentives following its reopening after the four-day Easter holiday. In the metals, copper neared $6,600 per tonne at one stage, holding at $6,615, down $34 on Thursday’s close. Warehouse stocks fell a net 375 tonnes to 241,925 tonnes, the lowest since November 2012.Nickel regained the $18,000 level after last week’s brief correction, touching $18,275, its best since February 2013. It then settled at $18,250, up $325. Warehouse stocks saw a 282-tonne increase to 277,716 tonnes. Aluminium at $1,879 was $14 higher but stocks climbed 4,475 tonnes to 5,320,050 tonnes. Zinc at $2,072 was up $11.50 – inventories fell 3,100 tonnes to 798,400 tonnes, the lowest since the end of March. Lead touched $2,160, the highest since March 5, before holding at $2,156, up $14- inventories were down 1,675 tonnes at 198,725 tonnes. Tin was unchanged at $23,405, with inventories also static at 9,515 tonnes.

TRADING STRATEGY

WTI-CRUDEOIL-NYMEX has closed @ 101.87. If it breaks the level of 101.48, it can touch the level of 100.98 & 100.26 respectively. If it sustain above the level of 102.26, it can touch the level of 102.76 & 103.55 respectively.
SELL WTI-CRUDEOIL-NYMEX BELOW 101.48 TGTS 100.98, 10.26 SL 102.18.
BUY WTI-CRUDEOIL-NYMEX ABOVE 102.26 TGTS 102.76, 103.55 SL 101.56

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23Apr

Forex Market Trading Signals and News of 23th April 2014

➔ Forex – USD/CAD edges lower in subdued trade
➔ Forex – Euro pushes higher against dollar, gains limited
➔ Forex -U.S. stocks open moderately higher, data ahead; Dow Jones up 0.14%

USD/CAD
USD/CAD was last trading at 1.1004 and was moving in a range of 1.1024 and 1.1001.The pair was likely to find support at 1.0958, the low of April 16 and resistance at 1.1030, Monday’s high.The pair showed little reaction after Statistics Canada reported that wholesale sales rose 1.1% in February, the largest increase since July 2013, to C$50.67 billion, following a downwardly revised 0.5% gain in January.Market expectations had been for an increase of 0.7% in February.The U.S. was to release data on existing homes sales later in the trading day.

EUR/USD
EUR/USD was last up 0.17% to 1.3815, recovering from the two-week lows of 1.3784 struck earlier in the session.The pair was likely to find support at 1.3775 and resistance at 1.3865.Demand for the common currency remained subdued after ECB President Mario Draghi warned earlier this month that further gains in the euro would trigger additional monetary easing to keep inflation from falling.The annual rate of euro zone inflation slowed to 0.5% in March, the lowest since November 2009.Euro zone inflation has now been in the ECB’sdanger zone of below 1% for six straight months, adding to pressure on policymakers to implement fresh
stimulus measures to shore up the fragile recovery in the region.

RECOMMENDATION:
1. Buy GBP/USD Above 1.6840- TG: 1.6860/ 1.6890 SL 1.6809
2. Sell GBP/USD Below 1.6790- TG: 1.6770/ 1.6740 SL 1.6825

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23Apr
SGX2

financial Sgx Singapore Stock Market Trading Picks And News – 23th April 2014

MARKET UPDATES

  • The Infocomm Development Authority of Singapore launched a public consultation on Tuesday to seek views on how to use spectrum over the mid- and long term, as well as how competition in the mobile market can be increased. On the competition front, it wants to examine how the entry of mobile virtual network operators catering to niche markets can be encouraged, among other things.
  • CHIEF financial officers (CFOs) in Asia are significantly more confident about growth prospects this year than their US counterparts. This is according to findings from Bank of America Merrill Lynch’s 2014 CFO Outlook Asia survey, released on Tuesday. More than three-quarters (76%) of Asia’s finance chiefs expect revenues to grow this year, up from 72% last year.
  • CONSTRUCTION company CCM Group has received a notice of termination on a condominium in Balestier they are building. The contract was terminated “on the grounds of alleged breaches of contract”, CCM said on Tuesday. The company said it is seeking legal advice and is evaluating the financial impact of this development. The contract, secured on August 2011, was worth S$32.3 million. It was awarded by Orion-One Residential to CCM subsidiary CCM Industrial.

STOCK RECOMMENDATION

  • BUY CITY DEVELOPMENT LTD ABOVE 11.000 TG 11.100, 11.200, 11.320 SL 10.880

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