Daily Archives: May 29, 2014


Comex Commodity Trading Signals and Market News – 29th May 2014


Gold prices edged lower in Asia on Thursday with the market looking for cues on demand prospects. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,259.00 a troy ounce, down 0.06%, after hitting an overnight session low of $1,256.20 and off a high of $1,267.40.

Silver comex for July delivery was udown 0.07% at $19.045 a troy ounce. Copper futures for July delivery were up 0.09% at $3.172 a pound.

Crude oil prices rose in Asia Thursday following industry data that showed stronger gasoline demand than expected from an upcoming government report. The American Petroleum Institute said late Wednesday that its latest weekly data showed a 3.5-million-barrel gain in crude-oil supplies, according to industry sources. The group also said that gasoline supplies fell by 1.4 million barrels and distillate stocks rose by 821,000 barrels, according to the sources. On the New York Mercantile Exchange,West Texas Intermediate Crude Oil for delivery in July traded at $103.01 a barrel, up 0.28%, after hitting an overnight session low of $103.39 a barrel and a high of $104.40 a barrel.

• Brent crude on the ICE futures exchange fell 0.2% to $109.81 a barrel.

Natural gas futures carried Tuesday’s gains into Wednesday on forecasts for hot, summertime temperatures to arrive in the U.S.next week, which should prompt homes and businesses to crank up their air conditioning. On the New York Mercantile Exchange,natural gas futures for delivery in July traded at $4.587 per million British thermal units during U.S. trading, up 1.68%. The commodity hit a session high of $4.599 and a low of $4.489. The July contract settled up 1.41% on Tuesday to end at $4.405 per million British thermal units.

Base metals were mostly lower on Thursday’s Asian trade, weighed by a stronger dollar and a holding back of risk sentiments by investors. In the metals, copper rose as high as $6,970 per tonne before concluding Wednesday at $6,945. Today’s trade saw the red metal moving lower; last bid is seen at $6,913, a loss of $32 overnight. Aluminium is the only one in the complex to hold steady, hovering just $1 above where it ended on Wednesday. Last trade is indicated at $1,841 per tonne and the metal is trading within a tight $4 band. Nickel fell below $19,000 to hit a low of $18,830, although current price is at $18,960, some $360 lower than yesterday’s kerb close. Lead fell $15 to $2,120, zinc lost $9 at $2,065 and tin at $23,325 is $25 lower.


CRUDEOIL-NYMEX has closed @ 103.05. If it breaks the level of 102.88, it can touch the level of 102.43 & 101.67 respectively. If it sustain above the level of 103.89, it can touch the level of 104.34, 105.10 respectively.

  • SELL CRUDEOIL-NYMEX BELOW 102.88 TGTS 102.43, 101.67 SL 103.43.
  • BUY CRUDEOIL-NYMEX ABOVE 103.89 TGTS 104.34, 105.10 SL 103.34.

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Financial Sgx Singapore Stock Market Trading Picks And News – 29th May 2014


  • OUB Centre Limited on Wednesday announced that One Raffles Place shopping mall will be re-opening following a major refurbishment. Comprising a net lettable area of about 98,500 sq ft spread over six levels, the mall located just above Raffles Place MRT station has a committed occupancy of over 90 per cent.
  • TIONG Seng Holdings said on Wednesday that the joint venture between its subsidiary, Tiong Seng Contractors (Pte) Ltd, and Dongah Geological Engineering Co.Ltd (Singapore Branch), has been awarded a S$316 million contract.
  • YOMA Strategic Holdings on Wednesday said its 80 per cent-owned subsidiary YSH Finance had on Tuesday increased its stake in Myanmar’s Digicel Asian Holdings from 8 per cent to 25 per cent, thereby making the latter an associated company of Yoma. YSH Finance had subscribed for an additional 420,000 new shares – representing 17 per cent interest – in Digicel Asian Holdings for US$427,333



  • BUY NOBLE GROUP ABOVE 1.400 TG 1.440, 1.480, 1.540 SL 1.340

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IForex Market Trading Signals and News of 29th May 2014


➔Forex – USD/CAD steady near 2-week lows
➔Forex – Euro drops to fresh 3-month lows against dollar
➔Forex – Pound extends losses against dollar

➔EUR/USD hit lows of 1.3605, the weakest since February 13 and was last down 0.21% to 1.3607.The pair was likely to find support at 1.3575 and resistance at 1.3636, the session high.The euro has weakened broadly against the other major currencies, falling more than 2% against the dollar since the ECB indicated at its May 8 meeting that it is comfortable with easing monetary policy in June to help shore up the fragile recovery in the region.On Tuesday, ECB President Mario Draghi said the bank was aware of the risks of persistently low inflation and was prepared to take steps to get euro zone inflation back to its target, the latest indication that the bank could ease monetary policy as soon as next week.The annual rate of euro zone inflation was 0.7% in April, well below the ECB’s target of close to but just below 2%.

➔USD/CAD was almost unchanged at 1.0857, not far from Tuesday’s two-week lows of 1.0835.The pair was likely to find support at 1.0815, the low of May 9 and resistance at 1.0900.Market sentiment continued to be underpinned after data on Tuesday showed that U.S. durable goods orders rose unexpectedly in April and another report showed that U.S. consumer confidence improved in line with forecasts this month.The Commerce Department said orders for long lasting manufactured goods rose 0.8%, compared to expectations of a 0.7% decline.Separately, the Conference Board reported that its consumer conference index rose to 83 in May, up from a revised 81.7 in April, in line with economists’ expectations.Risk appetite was also boosted by mounting expectations that the European Central Bank will implement new easing measures at its upcoming policy meeting next week, in order to shore up the fragile recovery in the euro zone.


1. Buy GBP/USD Above 1.6770- TG: 1.6790/ 1.6820 SL 1.6740
2. Sell GBP/USD Below 1.6690- TG: 1.6670/ 1.6640 SL 1.6720

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