Daily Archives: May 27, 2014

27May

Comex Commodity Trading Signals and Market News – 27th May 2014

INTERNATIONAL COMMODITY NEWS

Gold prices gained slightly in Asia on Tuesday in thin trade with U.S. markets on holiday overnight. On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,292.4 a troy ounce, up 0.04%. Gold prices edged higher on Monday in electronic trading, as trade volumes were light with U.K. markets closed for a public holiday and markets in the U.S. remaining shut for the Memorial Day holiday.

Silver comex for July delivery on the Comex eased rose 0.01% at $19.420 a troy ounce. Copper for July delivery eased 0.17% to $3.183 a pound.

Crude oil prices dipped in Asia on Tuesday with a holiday in the U.S. thinning volumes and delaying key data on U.S. stocks. Industry data on U.S. Crude oil stocks as well as government data will both be delayed by a day because of the holiday. Data from the American Petroleum Institute will be reported on Wednesday and from the U.S. Department of Energy on Thursday. On the New York Mercantile Exchange, U.S. crude oil oil for delivery in July traded at $104.27 a barrel, down 0.08%.

Brent oil july on London’s ICE Futures exchange fell $0.67 to $109.87 a barrel.

Natural gas futures edged lower on Monday, as trade volumes were light with markets in the U.S. remaining shut for the Memorial Day holiday and as market players assessed the outlook for U.S. supply levels. On the New York Mercantile Exchange, natural gas for delivery in July declined 0.24%, or 1.1 cents to trade at $4.395 per million British thermal units during U.S. morning hours. Prices held in a range between $4.390 and $4.405 per million British thermal units.

• The LME metals are back to trading after a UK holiday yesterday. Starting the Asian trade today we see copper leading the metals, with the rest of the complex trading flat to modestly lower within a small range. copper climbed from Friday’s close at $6,928 to $6,933 per tonne, although earlier it peaked at $6,966. Stocks fell for the 23rd consecutive day, down a net 1,500 tonnes at 1,758,500 tonnes, while cancelled warrants dropped 18,250 tonnes to 83,200 tonnes.Aluminium is flattish at $1,812, having moved just $2 lower from Friday’s kerb. Nickel ended at $19,558 is $12 lower after stocks climbed 732 tonnes to 280,404 tonnes. Tin closed at $23,300 on Friday but fell today as well to $23,251 per tonne. Lead is lower at $2,142 and Zinc is $4 lower as well at $2,080 per tonne.

TRADING STRATEGY :

NATURALGAS-NYMEX has closed @ 4.389. If it breaks the level of 4.369, it can touch the level of 4.324 & 4.276 respectively. If it sustain above the level of 4.471, it can touch the level of 4.516, 4.566 respectively.

  • SELL NATURALGAS-NYMEX BELOW 4.369 TGTS 4.324, 4.276 SL 4.420.
  • BUY NATURALGAS-NYMEX ABOVE 4.471 TGTS 4.516, 4.566 SL 4.420.

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27May

IForex Market Trading Signals and News of 27th May 2014

TRADING TIPS

➔Forex – Euro steady after Draghi comments
➔Forex – AUD/USD edges higher but gains capped
➔Forex – Dollar steady to lower vs. rivals in thin trade

EUR/USD
➔EUR/USD hit lows of 1.3615, the weakest since February 13 and was last at 1.3641.The pair is likely to find support at 1.3575 and   resistance at 1.3658, Friday’s high.Draghi said the ECB is ready to act should it see signs of a negative inflation spiral taking hold, and indicated that the bank is weighing a wide range of policy options, including interest rate cuts, and liquidity injections or broad-based asset purchases to help shore up the fragile recovery in the euro area.”What we need to be particularly watchful for at the moment is the potential for a negative spiral to take hold between low inflation, falling inflation expectations and credit, in particular in stressed countries,”Draghi said.”There is a risk thatdisinflationary expectations take hold,” prompting consumers and businesses to delay spending. “We are not resigned to allowing inflation to remain too low for too long,” he added.The comments were made at the new ECB annual conference in Sintra, Portugal.

AUD/USD
➔AUD/USD hit 0.9245 during late Asian trade, the session high; the pair subsequently consolidated at 0.9241, adding 0.11%.The pair was likely to find support at 0.9275, the low of May 1 and resistance at 0.9290, the high of May 5.The greenback found support after data on new home sales on Friday added to signs of a recovery in the housing market.
The Commerce Department reported that sales of new homes rose by a larger-than-expected 6.4% to 433,000 in April, after two months of decline. Analysts had been expecting a figure of 425,000. March’s number was revised up from 384,000 to 407,000.

RECOMMENDATION:-

1. Buy GBP/USD Above 1.6860- TG: 1.6880/ 1.6910 SL 1.6828
2. Sell GBP/USD Below 1.6800- TG: 1.6780/ 1.6750 SL 1.6830

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27May
sgx-asx-tse

Financial Sgx Singapore Stock Market Trading Picks And News – 27th May 2014

MARKET UPDATES

  • OSIM International Ltd said on Tuesday that The Wellness Group Pte Ltd and Manoj Mohan Murjani had on May 23, 2014 issued another Writ of Summons against the company and all of its directors for alleged defamation.
  • HOTEL Properties Limited’s founder Ong Beng Seng and Wheelock Properties, who are tying up to buy out the hotel company, have raised their offer again to S$4.05 a share. This is the second time the offer has been raised. The offer was improved to S$4 a share from S$3.50 previously.
  • BOUSTEAD Singapore’s net profit for the fourth quarter ended March 2014 fell 8 per cent to $25.5 million from a year ago, largely due to a lower value of non-recurring items. Revenue fell 3 per cent to $142 million from $146 million.
  • Fullerton Fund Management, the asset management unit of Singapore state investor Temasek Holdings (Private) Ltd, said it has been awarded a license that gives it more access to China’s mainland capital markets, joining international funds like BlackRock.

 

STOCK RECOMMENDATION

  • BUY DBS GROUP HOLDINGS LTD ABOVE 16.930 TG 17.000,17,200 SL 16.830

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