Daily Archives: May 2, 2014

2May

Comex Commodity Trading Signals and Market News – 02th May 2014

Gold gained in Asia Friday in a rebound on physical buying, but in thin tradew with markets in major buyer China shut. On the Comex division of the New York Mercantile Exchange, Gold futures for June delivery traded at $1,284.00 a troy ounce, up 0.05%, after hitting an overnight session low of $1,277.40 and off a high of $1,293.10. Overnight, gold prices edged lower after data revealed consumer spending and personal incomes rose more than expected in March a day after the Federal Reserve said it was cutting the size of its monthly bond-buying program, which has supported gold since 2012.

Silver comex for July delivery was up 0.05% at US$19.053 a troy ounce, while copper futures for July delivery were up 0.05% at $3.027 a pound.

Crude prices eased further in Asia on Friday on growing U.S. crude stockpiles and prospects for higher exports by Libya. On the New York Mercantile Exchange, West Texas Intermediate Crude oil for delivery in June traded at $99.30 a barrel, down 0.12%, after hitting an
overnight session low of $98.76 a barrel and a high of $99.89 a barrel.

Brent crude on the ICE futures exchange fell 31 cents, or 0.3%, to $107.76 a barrel on Thursday, the lowest settlement since April 11.

Natural gas prices dropped on Thursday after data revealed U.S. inventories rose more than markets were expecting last week. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.710 per million British thermal units during U.S. trading, down 2.19%. The commodity hit session high of $4.821 and a low of $4.709. The June contract settled down 0.33% on Wednesday to end at $4.815 per million British thermal units.

Base metals prices came under pressure in Thursday’s LME premarket, with all hitting multi-week lows in quiet trading conditions – just 5,800 lots of copper have changed hands on Select so far – with China and much of Western Europe absent for holidays. the copper price fell $27 from Wednesday’s close to $6,618 per tonne but has recovered from its session and April 16 low of $6,591. Stocks fell for the eighth consecutive day, down a net 2,325 tonnes 231,000 tonnes – the lowest since October 2012. The aluminium price at $1,785 was down $15 and at a one-month low after CTA selling on Wednesday. Stocks were 9,025 tonnes lower at 5,354,875 tonnes and cancelled warrants at 2,908,025 tonnes were down 9,425 tonnes. Nickel is back above $18,000 after dropping below this level on Wednesday. Inventories rose 3,030 tonnes to 279,876 tonnes due to arrivals in Rotterdam. The Zinc price was down $11 at $2,022 – stocks and cancelled warrants were both down 5,525 tonnes at 771,475 tonnes and 134,700 tonnes respectively. More than 2,800 lots have traded so far. Lead hit its lowest since April 9 at $2,077.25 and was last at $2,092, still down $14; stocks were unchanged. Tin at $22,940 was off its one-month low of $22,765 although stocks rose 185 tonnes to 9,540 tonnes and cancelled warrants declined 50 tonnes to 4,015 tonnes.

TRADING STRATEGY :-

NATURALGAS-NYMEX has closed @ 4.729. If it breaks the level of 4.700, it can touch the level of 4.660 & 4.611 respectively. If it sustain above the level of 4.782, it can touch the level of 4.822 & 4.875 respectively.
SELL NATURALGAS-NYMEX BELOW 4.700 TGTS 4.660, 4.611 SL 4.755.
BUY NATURALGAS-NYMEX ABOVE 4.782 TGTS 4.822, 4.875 SL 4.727

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2May

Forex Market Trading Signals and News of 02th May 2014

TRADING TIPS

GBP/USD

GBP/USD touched highs of 1.6922, the most since August 2009, and was last up 0.21% to 1.6906. The pair had been trading at 1.6839 ahead of the data.Cable was likely to find support at 1.6868, the session low and resistance at 1.7000.Sterling rallied after Markit reported that its U.K. manufacturing purchasing managers’ index rose to 57.3 last month from 55.8 in March. Analysts had expected the manufacturing PMI to decline to 55.4.Growth increased across the sector, as firms reported a rise in new orders, and new product launches. Manufacturers also took on more staff, with employment rising for the twelfth consecutive month.Rob Dobson, Markit’s senior economist, said manufacturing output growth had accelerated to “a level among the highest signaled over the past two decades”.

EUR/USD

EUR/USD was last trading at 1.3874, after rising as high as 1.3889 earlier, the strongest level since April 11.The pair was likely to find support at 1.3825 and resistance at 1.3900.The dollar remained on the back foot after data on Wednesday showed that the U.S. economy expanded at an annual rate of just gross domestic product grew at an annual rate of 0.1% in the first quarter, well below forecasts for an expansion of 1.2%.Despite the sharp slowdown in growth the Federal Reserve said Wednesday it would reduce its bond purchases to $45 billion a month, in a widely expected decision. The Fed also said interest rates would remain on hold at record lows for a “considerable time” after the bond-buying program ends later this year.

RECOMMENDATION :-

1. Buy GBP/USD Above 1.6900- TG: 1.6920/ 1.6950 SL 1.6870

2. Sell GBP/USD Below 1.6860- TG: 1.6840/ 1.6810 SL 1.6890

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2May
forex-market-hours

Financial Sgx Singapore Stock Market Trading Picks And News – 02th May 2014

MARKET UPDATES

  • Singapore bank shares surged on Wednesday after two top lenders reported record profit for the first quarter, propping up the main index from 2-week lows. DBS Group Holdings Ltd shares jumped as much as 2.8% to S$17.31, their highest in more than 3 months, while OCBC Ltd shares gained 3.2 per cent to a 3-week high of S$9.77. The gains pushed the Singapore index up 0.77 per cent from the 2-week low it hit on Tuesday.
  • BUSINESS sentiment among Singapore’s manufacturers has improved, says the Economic Development Board’s (EDB) quarterly poll of more than 400 manufacturing companies conducted between March and April. This was thanks to a spike in optimism from the precision engineering cluster, as well as a turnaround in the electronics cluster’s sentiment.
  • CATHAY Pacific Airways will move to Singapore Changi Airport’s new Terminal 4 (T4) when it is ready in 2017. The Changi Airport Group said on Wednesday that the Hong Kong carrier will be the first airline to confirm its move to the new terminal. Tender for the construction of the S$985 million contract was given to Takenaka Corporation in December last year.

STOCK RECOMMENDATION

  • BUY SINGAPORE TELECOMMUNICATION ABOVE 3.830 TG 3.880, 3.930, 3.990 SL 3.760

 

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