Daily Archives: May 30, 2014


Comex Commodity Trading Signals and Market News – 30th May 2014


Gold prices gained in Asia on Friday in a rebound following overnight declines on disappointing U.S. GDP data. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,258.50 a troy ounce, up 0.11%, after hitting an overnight session low of $1,251.60 and off a high of $1,260.60.

Silver comex for July delivery rose 0.18% at $19.048 a troy ounce. Copper futures for July delivery gained 0.07% at $3.148 a pound.

Crude oil prices fell in Asia on Friday on profit taking and few demand cues following disappointing U.S. GDP data. On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in July traded at $103.42 a barrel, down 0.16%, after hitting an overnight session low of $102.62 a barrel and a high of $103.93 a barrel.

• Brent crude on the ICE futures exchange rose 0.2% to $109.97 a barrel.

Natural gas futures fell on Thursday after official data revealed U.S. stockpiles rose more than markets were expecting last week. On the New York Mercantile Exchange, natural gas futures for delivery in July traded at $4.592 per million British thermal units during U.S. trading, down 0.50%. The commodity hit a session high of $4.653 and a low of $4.530. The July contract settled up 2.31% on Wednesday to end at $4.615 per million British thermal units.

Base metals were mostly pressured lower on Friday’s Asian trade, following through the round of selling from Thursday due to some lacklustre data out of the US and the Chinese PMI set to be released over the weekend. Copper is back below $6,900, and today’s prices are about $21 lower at $6,863 per tonne. The backwardation in the cash/threes spread was $89. Aluminium closed at $1,845 and has since come down $6 to $1,839 per tonne. Stocks were down 9,150 tonnes at 5,199,175 tonnes. Nickel continues to hover near $19,000, trading on both sides of the key figure this morning although it currently stands at $18,995. Stocks climbed 3,138 tonnes to 283,662 tonnes, centred on Rotterdam. Lead was last at $2,120, down $2, and Zinc slipped $9 to $2,059 although stocks continued to fall, dropping 1,075 tonnes to 719,600 tonnes, their lowest since March 4, 2011. Tin traded lower with the rest, losing $89 overnight to the current $23,386 per tonne.


COPPER-COMEX has closed @ 3.1505. If it breaks the level of 3.1402, it can touch the level of 3.1302 & 3.1170 respectively. If it sustain above the level of 3.1657, it can touch the level of 3.1757, 3.1880 respectively.

  • SELL COPPER-COMEX BELOW 3.1402 TGTS 3.1302, 3.1170 SL 3.1512.
  • BUY COPPER-COMEX ABOVE 3.1657 TGTS 3.1757, 3.1880 SL 3.1547.

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IForex Market Trading Signals and News of 30th May 2014


➔Forex – USD/CAD hits session lows after Canadian, U.S. data
➔Forex – Dollar at 1-week lows against yen ahead of U.S. data
➔Forex -Dollar index off lows after mixed U.S. data

➔USD/JPY touched lows of 101.47, the weakest since May 22 and was last down 0.27% to 101.57.The pair was likely to find support at 101.34 and resistance at 102.02, Wednesday’s high.The yield on U.S. 10-year Treasury notes fell to 2.42% on Thursday, the lowest since July 2013, amid ongoing uncertainty over the outlook for the global economic recovery.The dollar -yen pair is very sensitive to fluctuations in U.S. treasury yields.Revised data on U.S. gross domestic product scheduled for release later Thursday was expected to show that the economy contracted 0.5% in the first three months of the year, after the preliminary estimate showed growth of just 0.1%.

➔USD/CAD touched lows of 1.0851 and was last down 0.15% to 1.0858.The pair was likely to find support at 1.0815 and resistance at 1.0900.Statistics Canada said the country’s current account deficit narrowed to C$12.4 billion in the first quarter from a deficit of C$15.6 billion in the preceding three months. Analysts had expected Canada’s current account deficit to narrow to C$13.0 billion.In the U.S., updated data showed that the economy slowed sharply in the first three months of the year, while a separate report showed a larger than expected decline in initial jobless claims.The Commerce Department reported that U.S. gross domestic product contracted 1.0% in the first quarter, after the preliminary estimate showed growth of 0.1%. Market expectations had been for a 0.5% contraction.


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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Financial Sgx Singapore Stock Market Trading Picks And News – 30th May 2014


  • ABOUT 50 companies listed on Singapore Exchange (SGX) with a total market value of S$46.2 billion have reported business activity specific to Thailand in their most recent annual financial statements, a market update by SGX showed on Thursday. This represents about 7 per cent of all listed securities on SGX as at April.
  • BANYAN Tree Holdings said on late Wednesday that it has issued and successfully placed out S$125 million 4.875 per cent fixed rate notes.It plans to used the proceeds to finance the general working capital, capital expenditure and investment requirements and refinancing needs of the company and its subsidiaries
  • RH Petrogas shares continued uptrend on Thursday, underpinned by hopes of a possible takeover even after the company had said no binding offer has been made. Its shares opened at S$0.905 and quickly climbed to S$0.925, up 3 cents, or 3.3 per cent by 10:20 a.m.


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

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