Daily Archives: May 9, 2014

9May

Comex Commodity Trading Signals and Market News – 09th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices gained in Asia on Friday driven by physical demand.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at $1,289/80 a troy ounce, up 0.16%, after hitting an overnight session low of $1,285.70 and off a high of $1,295.50.

Silver comex for July delivery was up 0.11% at $19.160 a troy ounce. Copper futures for July delivery were up 0.04% at $3.061 a pound.

Crude oil prices were higher in Asia on Friday after China’s April CPI and PPI data. CPI rose 1.8% year-on-year. less than the 2.0% expected and PPI fell 2.0%, more than the drop of 1.9% expected. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $100.45 a barrel, up 0.18%, after hiitning an overnight session low of $99.88 a barrel and a high of $100.93 a barrel. The June contract settled up 1.28% at $100.77 a barrel on Wednesday.

Brent crude on the ICE futures exchange fell 9 cents, or 0.1%, to $108.04 a barrel.

Natural gas prices dropped on Wednesday after data revealed U.S. stockpiles rose more than expected last week. On the New York Mercantile Exchange, Natural gas futures for delivery in June traded at $4.606 per million British thermal units during U.S. trading, down 2.84%. The commodity hit session high of $4.755 and a low of $4.588. The June contract settled down 1.23% on Wednesday to end at $4.740 per million British thermal units.

Base metals prices largely ignored positive data out of China in Thursday’s LME premarket, holding in recent ranges and generally drifting lower. The copper price at $6,663 per tonne was up $8 on Wednesday’s close, while volumes have been soft – around 4,600 lots have changed hands so far. Stocks and cancelled warrants both fell a net 3,925 tonnes to 213,025 tonnes and 98,825 tonnes respectively. Nickel activity surged on news that Vale has suspended production at its 40,000-tonne-per-year Goro nickel processing plant and mine in New Caledonia, spiking to its highest since the week of February 27, 2012 at $19,786. It settled back at $19,443, still up $793 or around four percent. Around 7,400 lots have traded so far, outpacing the rest of the complex.. The aluminium price at $1,763 was $6 lower although stocks declined 9,700 tonnes to 5,321,900 tonnes, while cancelled warrants at 2,907,775 tonnes were down 9,500 tonnes. Tin at $23,125 was up $25 – there was no changes in stocks but cancellations climbed 275 tonnes to 3,780 tonnes. The lead price was unchanged at $2,080 after stocks and cancelled warrants both declined 125 tonnes to 193,475 tonnes and 20,625 tonnes respectively. Zinc at $2,028 was $2.50 lower; stocks fell 1,250 tonnes to 762,500 tonnes.

TRADING STRATEGY:

NATURALGAS-NYMEX has closed @ 4.585. If it breaks the level of 4.542, it can touch the level of 4.502 & 4.449 respectively. If it sustain above the level of 4.673, it can touch the level of 4.713, 4.765 respectively.

•SELL NATURALGAS-NYMEX BELOW 4.542 TGTS 4.502, 4.449 SL 4.597.
•BUY NATURALGAS-NYMEX ABOVE 4.673 TGTS 4.713, 4.765 SL 4.618.

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

9May
forex-market-hours

IForex Market Trading Signals and News of 09th May 2014

TRADING TIPS

EUR/USD
EUR/USD slid 0.18% to 1.3887, after rising as high as 1.3994 earlier, the strongest level since October 2009.The pair was likely to find support at 1.3870 and resistance at 1.3875.The euro gave up gains after Draghi said the ECB governing council is comfortable with acting at its next meeting to stop euro area inflation from falling too low, but it wants to review new staff economic projections first.Draghi said that recent weakness in inflation has been due to food and energy prices, but the strong euro and weak domestic demand are also pushing down inflation. He reiterated that the ECB does not have a target for the euro exchange rate, but said that the bank would closely monitor exchange rate developments.

GBP/USD
GBP/USD was trading at 1.6965, not far from the peaks of 1.6993 reached on Tuesday, the strongest level since August 2009.Cable was likely to find support at 1.6925 and resistance at 1.7000.The BoE’s Monetary Policy Committee voted to keep interest rates on hold at their current record low of 0.5%. The bank also made no change in its quantitative easing program, which remains at £375 billion.The BoE will publish the minutes of this month’s meeting on Wednesday, May 21.Expectations for a U.K. rate hike in the early part of next year have propelled sterling to multi-year highs against the dollar, after a recent string of strong economic reports indicated that the recovery is deepening..

Early last week BoE Governor Mark Carney said the U.K. recovery is starting to broaden, but added that the bank still sees plenty of slack in the labor market.

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

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9May
sgx2

Financial Sgx Singapore Stock Market Trading Picks And News – 09th May 2014

MARKET UPDATES

[SINGAPORE] Singapore sovereign wealth fund GIC has bought a stake in Brazilian online sports goods retailer Netshoes in a further diversification of its vast global portfolio. GIC said in a statement that it led a new round of investment in Netshoes of US$170 million, along with other investors including Singapore state investment arm Temasek Holdings, Tiger Global Management, Iconiq Capital and Kaszek Ventures.

THE Ministry of Manpower (MOM) and CPF Board jointly announced on Thursday that the CPF Minimum Sum has been increased to S$155,000 to account for inflation.This will apply to CPF members who turn 55 between July 1 this year and June 30 next year.It will be set aside in their Retirement Account using savings from their Special, and then Ordinary Accounts.

CATALIST-LISTED Asia-Pacific Strategic Investments on late Wednesday posted a deeper net loss attributable to equity holders of RM2.5 million for the third quarter ended March 31, 2014, 36.5 per cent greater than the previous year’s net loss of RM1.83 million. Revenue fell 11.1 per cent to RM1.98 million, down from RM2.2 million a year ago.

STOCK RECOMMENDATION:

  • BUY CITY DEVELOPMENT LTD ABOVE 10.900 TG 11.000, 11.120, 11.250 SL 10.780.

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