Daily Archives: June 3, 2014

3Jun

Comex Commodity Trading Signals and Market News – 03rd June 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased in Asia on Tuesday with mixed data from China weighing on demand prospects from one of the world’s top importers. Chinese non-manufacturing PMI for May rose to 55.5, the highest since November, from 54.8. The HSBC Manufacturing PMI May final came in at 49.4, lower than the 49.7 in the “flash” reading, but still above the 48.1 final in April. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1,243.60 a troy ounce, down 0.03%, after hitting an overnight session low of $1,241.20 and off a high of $1,251.00.

Silver comex for July delivery was up 0.26% at $18.788 a troy ounce. Copper futures for July delivery fell 0.38% at $3.155 a pound. China is the world’s top copper importer.

Crude oil prices stayed slightly positive Tuesday after data from China showed mixed fortunes for the economy. Chinese non- manufacturing PMI for May rose to 55.5, the highest since November, from 54.8. The HSBC Manufacturing PMI May final came in at 49.4, lower than the 49.7 in the “flash” reading, but still above the 48.1 final in April. On the New York Mercantile Exchange,West Texas Intermediate crude oil for delivery in July traded at $102.51 a barrel, up 0.04%, after hitting an overnight session low of $102.11 a barrel and a high of $103.34 a barrel.

• Brent crude on ICE Futures Europe also settled down 0.4% at $108.94 a barrel.

Natural gas futures were higher on Monday,as market players prepped for the arrival of summertime temperatures in the U.S., which should hike demand for air conditioning. On the New York Mercantile Exchange, natural gas for delivery in July rallied 1.03%, or 4.7 cents, to trade at $4.589 per million British thermal units during U.S. morning hours. Prices rose to a session high of $4.604 earlier in the day, the most since May 29. Natural gas futures fell 0.37%, or 1.7 cents, on Friday to settle at $4.542.

Base metals were mostly trading lower on Tuesday Asian trade after making a steadier start to the month on Monday. Copper ended at $6,930 per tonne on Monday, up $85 on Friday’s close due to the supportive official PMI data. Today, the poorer HSBC Flash PMI drove the metal down below $6,900 again, with prices now hovering at $6,896.25. Aluminium was the only metal in the complex that did not slide, with prices flat at $1,850 per tonne.Nickel at $19,331 is $19 lower;stocks fell 324 tonnes to 284,112 tonnes and cancelled warrants increased 864 tonnes to 111,996 tonnes. Tin at $23,210 is $165 lower; Lead fell $13 to $2,110 and zinc at $2,078 was also $5 lower.

TRADING STRATEGY :

BRENTCRUDEOIL-NYMEX has closed @ 108.79. If it breaks the level of 108.65, it can touch the level of 108.10 & 107.32 respectively. If it sustain above the level of 109.83, it can touch the level of 110.38, 111.16 respectively.

  • SELL BRENTCRUDEOIL-NYMEX BELOW 108.65 TGTS 108.10, 107.32 SL 109.25.
  • BUY BRENTCRUDEOIL-NYMEX ABOVE 109.83 TGTS 110.38, 111.16 SL 109.23.

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

3Jun
forex-market-hours

IForex Market Trading Signals and News of 03rd June 2014

TRADING TIPS :

➔Forex – EUR/USD trims losses but remains under pressure
➔Forex – GBP/USD holds steady after disappointing U.S. data

EUR/USD
➔EUR/USD pulled away from 1.3594, the pair’s lowest since May 29, to hit 1.3619 during U.S. morning trade, still down 0.09%.In a report, the Institute of Supply Management said its manufacturing purchasing managers’ index ticked down to 53.2 in May, from a reading of 54.9 the previous month, confouding expectations for a rise to 55.5.Meanwhile, the single currency remained under pressure after data on Friday showing that the annual rate of inflation in Italy and Spain slowed in May added to expectations that the ECB will take steps to tackle low consumer price growth, which is threatening the fragile recovery in the single currency bloc.Earlier Monday, official data showed that German consumer price inflation accelerated at an annualized rate of 0.9% last month, down from 1.3% in April. Analysts had expected German consumer prices to rise by 1.1% in May.

GBP/USD
➔GBP/USD hit 1.6768 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6754, inching up 0.01%.Cable was likely to find support at 1.6693, the high of May 29 and resistance at 1.6816, the high of May 28.In a report, the Institute of Supply Management said its manufacturing purchasing managers’ index ticked down to 53.2 in May, from a reading of 54.9 the previous month, confouding expectations for a rise to 55.5. The data came after a string of disappointing U.S. economic reports on Friday dented optimism over the strength of the country’s economic recovery.In the U.K., Markit research group said the U.K. manufacturing PMI ticked down to 57.0 in June, from a reading of 57.3 the previous month, in line with expectations.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6790- TG: 1.6810/ 1.6840 SL 1.6760
2. Sell GBP/USD Below 1.6730- TG: 1.6710/ 1.6670 SL 1.6760

Fore more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PRIVATE LIMITED.

3Jun
sgx-asx-tse

Financial Sgx Singapore Stock Market Trading Picks And News – 03rd June 2014

MARKET UPDATES :

  • SEMBCORP Marine has acquired a 12 per cent stake in GraviFloat AS for US$4 million, with a right to increase its stake by up to 20 per cent, it said Monday.The investment represents a new business venture for the Sembcorp Marine group
  • LOCAL commercial prompt payment performance “declined sharply” in the first quarter of 2014 (Q12014), reversing the uptrend from the preceding quarter, said the Singapore Commercial Credit Bureau (SCCB) on Monday
  • Singapore shares inched up on Monday, led by gains in media conglomerate Singapore Press Holdings Ltd, as Wall Street posted another record close and data showed China’s factory activity expanding at the fastest pace in five months.
  • SWIBER Holdings has won a US$80 million engineering, procurement, installation and construction contract in Latin American for subsea development work which includes pipeline tie-in work.

 

STOCK RECOMMENDATION :

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

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

 

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