Daily Archives: May 6, 2014

6May

Comex Commodity Trading Signals and Market News – 06th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices edged higher in Asia on Tuesday underscored by tension in the Ukraine and demand from China.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,311.80 a troy ounce, up 0.19%, after hitting an overnight session low of $1,299.70 and off a high of $1,315.70. Gold prices rose earlier after a final reading of China’s HSBC manufacturing purchasing managers’ index came in at 48.1 April, down from a preliminary estimate of 48.3 and missing forecasts for an uptick to 48.4. A reading below 50 indicates a contraction.

Silver comex for July delivery rose 0.14% at $19.598 a troy ounce. copper futures for July delivery were down 0.07% at $3.056 a pound.

Crude oil prices were flat to slightly weaker in Asia on Tuesday ahead of industry data on U.S. stocks and bearish sentiment on China demand. Last week, crude stocks gained by 3 million barrels , according to the American Petroleum Institute. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $99.46 a barrel, down 0.03%, after hitting an overnight session low of $98.97 a barrel and a high of $100.43 a barrel.

Natural gas prices rose on Monday after bottom fishers snapped up nicely-priced positions in the commodity and erased losses stemming from last week’s bearish supply report. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.703 per million British thermal units during U.S. trading, up 0.61%. The commodity hit session high of $4.765 and a low of $4.652. The June contract settled down 0.95% on Friday to end at $4.674 per million British thermal units.

The ICE Brent oil futures contract fell 87 cents, or 0.8%, to $107.72 a barrel, the lowest settlement since April 11,on the ICE Futures Europe exchange.

TRADING STRATEGY :

SILVER-COMEX has closed @ 19.59. If it sustain above the level of 19.60, it can touch the level of 19.75 & 19.91 respectively. If it breaks the level of 19.29, it can touch the level of 19.14, 18.98 respectively.

• BUY SILVER-COMEX ABOVE 19.60 TGTS 19.75, 19.91 SL 19.35.
• SELL SILVER-COMEX BELOW 19.29 TGTS 19.14, 18.98 SL 19.54.

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6May

IForex Market Trading Signals and News of 06th May 2014

TRADING TIPS

GBP/USD
GBP/USD hit 1.6853 during U.S. morning trade, the pair’s lowest since May 2; the pair subsequently consolidated at 1.6863, edging down 0.08%.Cable was likely to find support at 1.6807, the low of April 30 and resistance at 1.6922, the high of May 1 and a five-year high.In a report, the Institute of Supply Management said its non-manufacturing purchasing managers’ index rose to a five-month high of 55.2 in April, from a reading of 53.1 in March, compared to expectations for a rise to 54.1.The data came after official data on Friday showed that the U.S. economy added 288,000 jobs in April, well above expectations for jobs growth of 210,000, while the unemployment rate dropped to a five-and-a-half year low of 6.3%.

EUR/USD
EUR/USD hit 1.3886 during U.S. morning trade, the pair’s highest since April 30; the pair subsequently consolidated at 1.3878, inching up 0.06%.The pair was likely to find support at 1.3812, the low of May 2 and resistance at 1.3905, the high of April 11.In a report, the Institute of Supply Management said its non-manufacturing purchasing managers’ index rose to a five-month high of 55.2 in April, from a reading of 53.1 in March, compared to expectations for a rise to 54.1.But the dollar remained under pressure, as Friday’s U.S. employment report showed that the labor force participation rate, which measures the proportion of people either working or looking for work, fell and wage growth weakened.In the euro zone, data earlier showed that the Sentix index of euro zone investor confidence deteriorated unexpectedly this month, falling to 12.8 from a reading of 14.1 in April. Analysts had forecast an increase to 14.2.A separate report showed that producer prices in the euro zone fell 0.2% in March from a month earlier, and were down 1.6% on a year-over-year basis.

RECOMMENDATION:

1. Buy GBP/USD Above 1.6900- TG: 1.6920/ 1.6950 SL 1.6870
2. Sell GBP/USD Below 1.6850- TG: 1.6830/ 1.6800 SL 1.6890

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6May
Stock Market

Financial Sgx Singapore Stock Market Trading Picks And News – 06th May 2014

MARKET UPDATES

  • SEMBCORP Marine shares fell more than two per cent on Monday as the 3.1 per cent growth in its first quarter net profit to S$122.48 million fell below expectations.
  • SHELL has been appointed the sole provider of refuelling operations and fuel management at Seletar Airport for a ten- year period.
  • Seletar Airport, which is managed by Changi Airport Group (CAG), supports corporate flights, medical evacuation, international aircraft charters as well as flying schools.”Given Singapore’s strategic position, Seletar Airport is poised to play a pivotal role in the development of the regional business aviation sector,” said chairman of Shell (Singapore) Lee Tzu Yang at the launch ceremony on Monday. Shell also provides fuel to Singapore’s Changi Airport.
  • OCBC Investment Research on Monday initiated a buy call on Thai Beverage, pegging its target price at 73 cents a share.
  • The stock was trading at 58.5 cents a share on Monday,unchanged from Friday’s close. “We believe the counter is also attractive due to the diversification and liquidity provided to investor,” OCBC analyst Yap Kim Leng,
  • Loyz’s Thailand concessions are producing at a combined rate of around 3,000 barrels of oil per day (bopd) – a significant increase from the 1,200 bopd achieved in February,

STOCK RECOMMENDATION

  • BUY WILMAR INTERNATIONAL ABOVE 3.330 TG 3.380,3.440, 3.520 SL 3.250

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