Daily Archives: April 28, 2014

28Apr

Comex Commodity Trading Signals and Market News – 28th April 2014

Gold futures were higher on Friday, supported by renewed tensions between Russia and Ukraine, while markets awaited the release of U.S. consumer sentiment data later in the trading session. On the Comex division of the New York Mercantile Exchange, gold futures for  June delivery traded at $1,300.20 a troy ounce during European afternoon trade, up 0.76%. The June contract settled 0.47% higher on  Thursday to end at $1,290.6 a troy ounce.

Silver comex for May delivery dipped 0.03% to trade at $19.682 a troy ounce, while copper for May delivery edged down 0.09% to trade at $3.118 a pound.

Crude futures fell on Friday after investors sold the commodity for profits, keeping a wary eye on escalating tensions in Ukraine on concerns the standoff could affect shipments from energy-rich Russia. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $100.75 a barrel during U.S. trading, down 1.17%. New York-traded oil futures hit a session low of $100.51 a barrel and a high of $102.05 a barrel. The June contract settled up 0.49% at $101.94 a barrel on Thursday.

The ICE Futures Exchange in London, Brent oil futures for June delivery were down 0.57%, trading at US$109.71 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$8.96 a barrel.

A bearish weekly stockpile report revealing a larger-than-expected inventory build in the U.S. sent natural gas prices falling on Friday, as markets priced in a late-season cool snap and avoided the commodity. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.669 per million British thermal units during U.S. trading, down 1.14%. The commodity hit session high of $4.739 and a low of $4.646. The June contract settled down 0.51% on Thursday to end at $4.723 per million British thermal units.

Base metals slipped into the minus column during Friday’s LME premarket session, pulled back by a retracement in the copper market, where prices were unable to extend beyond early six-week highs. In the metals, copper touched $6,780 initially, its best since March 7, but then tracked back to $6,740 per tonne, a $13 loss from Thursday’s kerb. Nickel was consolidating below the previous day’s 14-month high of $18,600, trading at $18,300, a $50 loss. Stocks rose 678 tonnes to 277,734 tonnes.Tin also held under its six-month high of $23,849 yesterday, with business at $23,600, down $125 – there was a five-tonne increase in stocks to 9,450 tonnes. Aluminium has become sidelined below $1,900 in recent sessions – it was recently trading at $1,873, a $4 loss. Stocks jumped 11,875 tonnes to a two-week high of 5,339,325 tonnes due to a 19,125-tonne warranting in Vlissingen. Zinc at $2,059 was $13 lower but stocks dropped 3,100 tonnes to 786,475 tonnes. Lead business at $2,164 was down $4, with inventories falling 1,500 tonnes to 193,275 tonnes, the lowest again since mid-September.

TRADING STRATEGY

BRENTCRUDEOIL-NYMEX has closed @ 109.49. If it breaks the level of 109.33, it can touch the level of 108.93 & 108.30 respectively. If it sustain above the level of 110.57, it can touch the level of 110.97 & 111.62 respectively.
SELL BRENTCRUDEOIL-NYMEX BELOW 109.33 TGTS 108.93, 108.30 SL 109.93.
BUY BRENTCRUDEOIL-NYMEX ABOVE 110.57 TGTS 110.97, 111.62 SL 109.97

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28Apr
Forex Signals

Forex Market Trading Signals and News of 28th April 2014

➔ Forex – EUR/USD edges higher but upside seen limited
➔ Forex – USD/JPY slides on Ukraine unease, U.S. data support
➔ Forex – GBP/USD holds steady after upbeat U.K. retail sales data

GBP-USD
GBP/USD hit 1.6831 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.6807, inching up 0.03%.Cable was likely to find support at 1.6718, the low of April 11 and resistance at 1.6842, the high of April 17 and a four-and-a-half year high.Official data showed that U.K. retail sales rose 0.1% in March, beaing expectations for a 0.4% fall. Retail sales in February were revised down to a 1.3% increase from a previously estimated 1.7% gain.A separate report showed that U.K. mortgage approvals rose by 45,900 last month, compared to expectations for an increase of 48,900. February’s mortgage approvals were revised down to a 47,200 rise from a previously estimated 47,600 increase.

EUR/USD
EUR/USD hit 1.3848 during U.S. morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.3841, adding 0.08%.The pair was likely to find support at 1.3792, Thursday’s low and resistance at 1.3884, the high of April 13.In a revised report, the University of Michigan said its consumer sentiment index rose to a nine-month high of 84.1 in April, from a reading of 82.6 in March. Analysts had expected the index to rise to 83.0 this month.The University of Michigan also said inflation expectations for the next 12 months ticked up to 3.2% in April, from the previous month’s estimate of 3.1%.Meanwhile, market sentiment remained fragile amid renewed tensions in Eastern Europe, after Ukrainian troops killed several pro-Russian rebels on Thursday,and Russian troops started military exercises close to its border with Ukraine.

RECOMMENDATION :-

1. Buy USD/CAD Above 1.1050- TG: 1.1090/ 1.1150 SL 1.1000
2. Sell USD/CAD Below 1.0995- TG: 1.0955/ 1.0895 SL 1.1050

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28Apr
financial

Financial Sgx Singapore Stock Market Trading Picks And News – 28th April 2014

MARKET UPDATES

  • SINGAPORE’S manufacturing sector expanded by a surprising 12.1 per cent in March compared to a year ago, thanks to double-digit jumps in transport engineering and biomedical output. This came after February’s revised year-on-year pace of 13.1 per cent(previously estimated at 12.8 per cent). The 18 economists polled by Bloomberg prior to the data release had a median growth forecast of 6.4 per cent.
  • RESALE prices of public flats here slipped further in the first quarter by 1.6 per cent from a quarter ago, afterfalling 1.5 per cent in the fourth quarter of last year, For the first time since 2007, HDB has ceased publication of the quarterly median cash-over- valuation by town and flat type.
  • OCBC will maintain the quality of its loan portfolio with its $6.23 billion acquisition of Wing Hang Bank, said OCBC chief executive Samuel Tsien on Thursday. Responding to a query at a shareholders’ meeting, Mr Tsien said Wing Hang’s non-performing loan ratio stands at 0.44 per cent, which is lower than OCBC’s 0.7 per cent.

STOCK RECOMMENDATION

  • BUY SMRRT CORPORATION ABOVE 1.280 TG 1.320,1.360, 1.420 SL 1.220

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