Daily Archives: April 24, 2014

24Apr

Comex Commodity Trading Signals and Market News – 24th April 2014

Gold prices eased in Asia on Thursday in mild profit taking. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,283.60 a troy ounce, down 0.08%, after hitting an overnight session low of $1,281.00 and off a high of $1,289.00. Overnight, gold prices rose after disappointing home sales figures reminded investors benchmark interest rates in the U.S. will remain low for the foreseeable future, a recipe for firm gold prices.

Silver for May delivery was down 0.07% at US$19.425 a troy ounce, while copper futures for May delivery was down 0.02% at US$3.057 a pound.

Crude oil prices rebounded in Asia on Thursday after a decline on U.S. supplies reaching an all-time high in weekly EIA data going back to August 1982. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $101.58 a barrel, up 0.13%, after hitting an overnight session low of $101.21 a barrel and a high of $102.07 a barrel.

Brent crude on the ICE Futures Exchange fell 16 cents, or 0.2%, to $109.11 a barrel on Wednesday.

Natural carried Tuesday’s gains into Wednesday after updated weather-forecasting models continued to call for below- normal temperatures stretching 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 $4.776 per million British thermal units during U.S. trading, up 0.37%. The commodity hit session high of $4.802 and a low of $4. 746. The June contract settled up 0.91% on Tuesday to end at $4.758 per million British thermal units.

The base metals were generally strong yesterday with average gains of 1.1 percent, copper bucked the trend it was down 0.2 percent at $6,657.50, while the rest were stronger, with nickel up 2.4 percent to $18,340, aluminium up 1.3 percent at $1,890 and the rest up around one percent.

TRADING STRATEGY

NATURALGAS-NYMEX has closed @ 4.721. If it sustain above the level of 4.795, it can touch the level of 4.840 & 4.894 respectively. If it breaks the level of 4.676, it can touch the level of 4.631 & 4.575 respectively.

BUY NATURALGAS-NYMEX ABOVE 4.795 TGTS 4.840, 4.894 SL 4.735.
SELL NATURALGAS-NYMEX BELOW 4.676 TGTS 4.631, 4.575 SL 4.736.

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24Apr

Forex Market Trading Signals and News of 24th April 2014

➔ Forex – Euro extends gains after euro zone PMI surveys
➔ Forex – USD/CAD modestly higher after Canadian retail sales
➔ Forex – AUD/USD drops to 2-1/2 week lows after Australian data

USD/CAD
USD/CAD was last trading at 1.1042, up from 1.1028 ahead of the data.The pair was likely to find support at 1.0999, Tuesday’s low and resistance at 1.1075.The pair showed a muted reaction after Statistics Canada reported that retail sales rose 0.5% in February, in line with analysts’ forecasts, slowing from a downwardly revised increase of 0.9% in January.Core retail sales, which exclude automobile sales, rose 0.6%, in line with expectations.The pair has traded in a relatively narrow range this week, with the greenback supported by indications that the U.S. economy is recovering. The loonie, as the Canadian dollar is also known, remained
softer as the Bank of Canada’s dovish stance weighed

EUR/USD
EUR/USD hit highs of 1.3845, the strongest since April 17 and was last up 0.26% to 1.3841.
The pair was likely to find support at 1.3784, Tuesday’s low and resistance at 1.3865.The euro zone manufacturing purchasing managers’ index rose to 53.3 this month from 53.0 in March, compared to expectations for an unchanged reading.The bloc’s services PMI rose to 53.1 from 52.2 the previous month, better then forecasts for 52.4.The recovery in the euro zone’s largest economy accelerated this month, with activity in both the manufacturing and service sector strengthening.Germany’s manufacturing PMI rose to 54.2 from 53.7 in March, ahead of expectations for a reading of 54.0. The country’s services PMI increased to 55.0 from 53.0,
better than the 53.4 forecast by analysts.But growth in the French private sector lost momentum this month,with the country’s manufacturing PMI falling to 50.9 from 52.1 in March, and weaker than the 51.9 expected by analysts.

RECOMMENDATION :-

1. Buy GBP/USD Above 1.6820- TG: 1.6840/ 1.6870 SL 1.6784
2. Sell GBP/USD Below 1.6770- TG: 1.6750/ 1.6720 SL 1.6805

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24Apr
SGX Singapore

financial Sgx Singapore Stock Market Trading Picks And News – 24th April 2014

MARKET UPDATES

  • Singapore Exchange Ltd reported a 22 per cent fall in net profit on Wednesday, hit by a continued slide in share trading volumes, though a steady performance by its derivatives, listings and market data businesses meant it fared better than analysts expected. SGX posted a net profit of S$75.8 million (US60.33 million) for the March quarter, above the S$73.8 million.
  • SINGAPORE’S consumer prices rose 1.2 per cent in March from a year ago, as inflation rebounded from February’s four-year low of 0.4 per cent on the back of rising food and health care costs. This was slightly above the 1.1 per cent the market was expecting, going by the median forecast of 19 economists polled by Bloomberg before Singapore’s Department of Statistics released price data on Wednesday.
  • The Board of Directors of AIMS AMP Capital Industrial Reit Management Limited today announced Standard & Poors’ (S&P) had reaffirmed its ‘BBB-‘credit rating for the trust. S&P said it regards the trust “as one of the strongest trusts among Singapore-based industrial Reits that they rate.” The trust has a track record of expanding its portfolio and increasing its geographic diversity, while maintaining financial discipline,”according to S&P.

STOCK RECOMMENDATION

  • BUY WILMAR INTERNATIONAL ABOVE 3.500 TG 3.550,3.600, 3.670 SL 3.430

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