Daily Archives: May 7, 2014

7May

Comex Commodity Trading Signals and Market News – 07th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices hovered stead in Asia on Wednesday with an eye on the dollar and events in the Ukraine. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,308.70 a troy ounce, up 0.01%, after hitting an overnight session low of $1,304.60 and off a high of $1,314.20.

Silver comex for July delivery was down 0.13% at $19.620 a troy ounce. Copper futures for July delivery were up 0.07% at $3.056 a pound.

Crude oil prices rose in Asia on Wednesday as an industry group reported a drop in U.S. oil stocks and tension in the Ukraine lent support. The American Petroleum Institute, an industry group, said late Tuesday that its own data showed a 1.8 million-barrel drop in crude stocks, according to industry sources. The group also said that gasoline supplies rose by 2.4 million barrels and distillate stocks grew by 763,000 barrels. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $99.85 a barrel, up 0.35%, after hitting an overnight session low of $99.33 a barrel and a high of $100.42 a barrel.

Natural gas prices rose on Tuesday as forecasts for above-normal temperatures along the West Coast boosted demand for the commodity. On the New York Mercantile Exchange, Natiral gas futures for delivery in June traded at $4.804 per million British thermal units during U.S. trading, up 2.46%. The commodity hit session high of $4.806 and a low of $4.693. The June contract settled up 0.30% on Monday to end at $4.688 per million British thermal units.

The base metals price were little-changed in Tuesday’s premarket following the UK’s return to market after a long weekend. the copper price at $6,702 was down $17 on Friday’s close. Stocks fell a net 4,375 tonnes to 225,425 tonnes, the lowest since October 26, 2012, and cancelled warrants dropped 2,375 tonnes to 111,350 tonnes. The backwardation in the cash/threes spread has tightened further – it was last at $34/39. The aluminium price was $31 higher at $1,787 after inventories declined 2,625 tonnes to 5,345,125 tonnes but cancelled warrants slipped 5,325 tonnes to 2,920,825 tonnes. Tin at $23,100 was $5 higher after a five-tonne stock drop to 9,535 tonnes. The nickel price jumped $216 to $18,486, finding support from the Russia/Ukraine conflict and the possibility – albeit remote – that sanctions will be extended to Norilsk Nickel exports. Stocks fell 12 tonnes to 279,516 tonnes. Lead gained $20 to $2,111, with 50- tonne reductions in both stocks and cancelled warrants, while Zinc at $2,050 was $10 higher – stocks and cancelled warrants both declined 1,550 tonnes to 766,250 tonnes and 129,525 tonnes respectively. Zinc cash/threes last traded at level, having ended last week at a backwardation of $1.50.

Brent crude on the ICE futures exchange fell 66 cents, or 0.6%, to $107.06 a barrel, the lowest settlement since April 7.


TRADING STRATEGY
:

GOLD-COMEX has closed @ 1307.70. If it sustain above the level of 1316, it can touch the level of 1325 & 1336 respectively. If it breaks the level of 1298, it can touch the level of 1289, 1278 respectively.

•BUY GOLD-COMEX ABOVE 1316 TGTS 1325, 1336 SL 1297.
•SELL GOLD-COMEX BELOW 1298 TGTS 1289, 1278 SL 1318.

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

7May
SGX2

Financial Sgx Singapore Stock Market Trading Picks And News – 07th May 2014

MARKET UPDATES

  • PERENNIAL China Retail Trust posted a distribution per unit of 95 Singapore cents for its first quarter ended March 31, 2014, unchanged from a year ago.Distributable income, too, held steady at S$10.9 million. The trust also reported net property income (NPI) of S$209,000 on the back of S$2 million in revenue, a reversal from losses of S$433,000 and no revenue generated in the corresponding quarter a year ago.
  • US-based supply chain firm Menlo Logistics opened its eighth facility in Singapore on Tuesday. Worth S$127 million and located at Mapletree Benoi Logistics Hub, the new warehousing and distribution centre will mainly serve the global wine and spirits industry.
  • SINGTEL has been fined a record-breaking S$6 million for the fire at its Bukit Panjang exchange facility in October last year, which disrupted services for homes and businesses across the island. The regulator, the Infocomm Development Authority of Singapore (IDA), found that the telco’s business continuity management policies did not have “specific contingency plans” for an outage of such a scale. IDA also noted other weaknesses in SingTel’s network and practices.

STOCK RECOMMENDATION:

  • BUY GENTING SINGAPORE LTD ABOVE 1.355 TG 1.385, 1.425, 1.470 SL 1.315

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED

7May
Forex Signals

IForex Market Trading Signals and News of 07th May 2014

TRADING TIPS

GBP/USD
GBP/USD hit 1.6950 during European morning trade, the pair’s highest since August 2009; the pair subsequently consolidated at 1.6949, advancing 0.48%.Cable was likely to find support at 1.6866, the session low and resistance at 1.7042.Markit research group said the U.K. services purchasing managers’ index rose to a four-month high of 58.7 last month, from a reading of 57.6 in March. Analysts had expected the index to remain unchanged in April.The report came after data last week showed that manufacturing activity in the U.K. expanded at the fastest rate in five months in April, bolstering the outlook for the wider recovery.A recent string of upbeat reports about the U.K. economy has raised expectations the BoE could raise borrowing costs ahead of other central banks.

EUR/USD
EUR/USD hit 1.3939 during European afternoon trade, the pair’s highest since March 18; the pair subsequently consolidated at 1.3937, gaining 0.45%.The pair was likely to find support at 1.3865, Monday’s low and resistance at 1.3966, the high of March 13.The single currency found support after official data showed that euro zone retail sales rose 0.3% in March, confounding expectations for a 0.2% fall. Retail sales in February were revised down to a 0.1% gain from a previously estimated 0.4% increase.The report came after official data showed that the number of unemployed people in Spain dropped by 111,600 in April, compared to expectationd for a decline of 49,100, after a 16,600 fall the previous month.Separately, Markit research group said that Spain’s services purchasing managers’ index rose to a six-year high of 56.5 last month, from a reading of 54.0 in March. Analysts had expected the index to tick up to 54.4 in April.

RECOMMENDATION:

1. Buy GBP/USD Above 1.7005- TG: 1.7025/ 1.7055 SL 1.6975
2. Sell GBP/USD Below 1.6950- TG: 1.6930/ 1.6900 SL 1.6980

Fore more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

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