Daily Archives: May 14, 2014

14May

Comex Commodity Trading Signals and Market News – 14th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices eased in Asia on Wednesday in thin trade as investors await further cues on the dollar. On the Comex division of theNew York Mercantile Exchange, gold futures for June delivery traded at $1,293.10 a troy ounce, down 0.13%, after hitting an overnight session low of $1,289.20 and off a high of $1,298.80.

Silver comex for July delivery was down 0.05% at $19.538 a troy ounce. Copper futures for July delivery were up 0.07% at $3.135 a pound.

Crude oil prices rose in Asia on Wednesday after data pointed to a drop in U.S. gasoline stocks with the summer driving season gearing up. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $101.87 a barrel, up 0.16%, after hitting an overnight session low of $100.37 a barrel and a high of $101.51 a barrel.

Brent oil on the ICE futures exchange rose 83 cents, or 0.8%, to $109.24 a barrel on Tuesday, the highest settlement since April 25.

Natural gas prices fell on Tuesday after updated weather-forecasting models continued to call for mild temperatures to settle in across much of the U.S., which should crimp demand for heating. On the New York Mercantile Exchange, natural gas futures for delivery in June traded at $4.386 per million British thermal units during U.S. trading, down 1.09%. The commodity hit session high of $4.547 and a low of $4.468. The June contract settled down 2.14% on Monday to end at $4.434 per million British thermal units.

Base metals business turned choppy during Tuesday’s LME premarket – the momentum seen during Monday’s robust advances faltered after the release of under-performing Chinese economic data.The copper price peaked at $6,893.25 per tonne and then settled back at $6,878, a $1 loss from the Monday close. Warehouse inventories fell for the 15th day in a row – down a net 2,350 tonnes at 202,975 tonnes, the lowest since October 2008. The nickel price burst above $21,000 to trade as high as $21,625 and then fell away to $20,771, down $129. The red-hot rally is showing signs of becoming technically overstretched but there is little sign of a significant correction. the zinc price at $2,086 was up $6, with inventories down 2,150 tonnes at 757,975 tonnes, the lowest for two months. Lead traded at $2,127, up $1.50, even after inventories rose 200 tonnes to 193,675 tonnes.The aluminium price was unchanged at $1,785 – inventories were down 13,875 tonnes at 5,289,600 tonnes, the lowest since mid-March. Tin at $23,050 rose $75 – stocks fell 20 tonnes to 9,620 tonnes.

TRADING STRATEGY :

SILVER-COMEX has closed @ 19.51. If it sustain above the level of 19.59, it can touch the level of 19.74 & 19.90 respectively. If it breaks the level of 19.13, it can touch the level of 18.98, 18.82 respectively.

BUY SILVER-COMEX ABOVE 19.59 TGTS 19.74, 19.90 SL 19.34.
SELL SILVER-COMEX BELOW 19.13 TGTS 18.98, 18.82 SL 19.38.

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14May
forex-market-hours

IForex Market Trading Signals and News of 14th May 2014

TRADING TIPS

EUR/GBP
EUR/GBP touched lows of 0.8138, the weakest level since January 2013, and was last trading at 0.8140, 0.18% lower for the day.The pair was likely to find support at 0.8085 and resistance at 0.8173, the session high.The drop in the euro came after media reports that Germany’s central bank is open to more stimulus measures from the ECB.The Wall Street Journal reported the Bundesbank would back monetary easing measures if they were needed to keep persistently low levels of inflation from becoming entrenched in the euro zone.The ECB warned last week that it is “comfortable” with acting at its next meeting in June after it has a chance to review the latest economic projections.The single currency also came under pressure after data showed that German economic sentiment fell to a 16-month low in May.

GBP/USD
GBP/USD hit 1.6826, the lowest since May 2 and was last down 0.15% to 1.6842.Cable was likely to find support at 1.6805 and resistance at 1.6937, Friday’s high.Sterling’s losses were held in check amid expectations that the BoE would upgrade its forecast for growth when it presents its quarterly inflation report on Wednesday.The latest U.K. jobs report, also due for release on Wednesday, is expected to show a another decline in the unemployment rate to a more than five year low of 6.8% in the three months to March, while wage growth is expected to rise again.A strong reading would reinforce expectations that the BoE will raise interest rates ahead of other central banks and send the pound rising towards recent almost five year peaks against the dollar.

RECOMMENDATION:
1. Buy GBP/USD Above 1.6905- TG: 1.6925/ 1.6955 SL 1.6875
2. Sell GBP/USD Below 1.6860- TG: 1.6840/ 1.6810 SL 1.6890

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14May
sgx-asx-tse

Financial Sgx Singapore Stock Market Trading Picks And News – 14th May 2014

MARKET UPDATES

  • Singapore airport services and catering firm SATS Ltd said on Monday it had abandoned plans to acquire a cruise and ferry terminal operator from a unit of Singapore state investor Temasek Holdings for S$110 million (US$88 million). In September, SATS said it would buy the Singapore Cruise Centre from Hazeltree Holdings Private Ltd, an indirect wholly-owned subsidiary of Temasek. “The purchasers and the vendor have agreed not to proceed with the acquisition and to terminate the SPA.
  • SINGAPORE sovereign investment company Temasek Holdings is taking a significant minority equity stake in Dymon Asia, the alternative investment manager said. Temasek will commit an initial US$500 million to be managed by Dymon and will be used to seed new invsetment strategies.
  • RESALE prices of non-landed private homes slipped 1.7 per cent in April, touching a 16-month low since December 2012. This was in spite of the increase in volumes of resale transactions, which at 476 was 24.6 per cent higher than March’s, flash estimates by the Singapore Real Estate Exchange (SRX) show.

STOCK RECOMMENDATION:

  • BUY HONGKONG LAND ABOVE 6.950 TG 7.030, 7.810, 7.910 SL 6.850.

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