Daily Archives: August 6, 2014

6Aug

Comex Commodity Trading Signals and Market News – 06th August 2014

INTERNATIONAL COMMODITY NEWS :

• Gold futures edged higher on Tuesday, but remained below the key $1,300-level, as prospects of an interest rate hike in the U.S. held gains in check. On the Comex division of the New York Mercantile Exchange, gold for December delivery tacked on 0.29%, or $3.80, to trade at $1,292.70 a troy ounce during European morning hours. Prices held in a narrow range between $1,288.30 and $1,293.50. Gold ended Monday’s session down 0.46%, or $5.90, to settle at $1,288.90 an ounce. Futures were likely to find support at $1,281.00, the low from August 1 and resistance at $1,314.60, the high from July 29.

• Copper futures declined on Tuesday, after data showed that China’s services sector grew at its slowest pace in nearly nine years in July. On the Comex division of the New York Mercantile Exchange, copper for September delivery dipped 0.16%, or 0.5 cents, to trade at $3.239 a pound during European morning hours. Prices held in a narrow range between $3.236 and $3.249 a pound. Copper ended Monday’s session up 0.92%, or 2.9 cents, to settle at $3.244.Futures were likely to find support at $3.199, the low from August 4 and resistance at $3.262, the high from July 30.

• Gold prices fell on Monday after investors ditched safe-haven positions in the yellow metal and went long on U.S. stocks due to earnings and jobs data. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,288.60 a troy ounce during U.S. trading, down 0.48%, up from a session low of $1,287.10 and off a high of $1,296.40. The December contract settled up 0.94% at $1,294.80 on Friday.Futures were likely to find support at $1,281.00 a troy ounce, Friday’s low, and resistance at $1,314.60, last Tuesday’s high.U.S. stocks rose on Monday after legendary investor Warren Buffett’s company Berkshire Hathaway beat expectations, which cut into the need for safe-haven gold positions.

• n the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in September traded down 1.12% at $97.19 a barrel during U.S. trading. New York-traded oil futures hit a session low of $97.04 a barrel and a high of $98.67 a barrel. The September contract settled up 0.42% at $98.29 a barrel on Friday.Nymex oil futures were likely to find support at $96.26 a barrel, the low from Feb. 3, and resistance at $102.10 a barrel, the high from July 28.Despite data suggesting the U.S. economy is improving, growing concerns that the global economy is not gaining enough steam to make a dent in ample crude supplies sent the commodity tumbling on Tuesday, offsetting otherwise bullish pressures in the U.S. and in Eastern Europe.

TRADING STRATEGY :

  • BUY GOLD COMEX ABOVE 1298 TG 1304,1314 SL 1288
  • SELL GOLD COMEX BELOW 1279 TG 1273,1263 SL 1289

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

6Aug
Forex trading

IForex Market Trading Signals and News of 06th August 2014

TRADING TIPS :

  • Forex -Euro broadly lower after PMI data
  • Forex -Euro steady against dollar, ECB ahead
  • Forex -Bitcoin prices remain below $600 amid bearish chart signals

NZD/USD
NZD/USD hit 0.8511 during late Asian trade, the session high; the pair subsequently consolidated at 0.8524, inching up 0.01%.The pair was likely to find support at 0.8462, the low of August 1 and resistance at 0.8557, the high of July 29.The greenback remained supported below recent highs after the latest U.S. employment report on Friday showing that jobs growth slowed slightly in July prompted investors to curtail expectations on the timing of a possible rate hike by the Federal Reserve.The kiwi was little changed against the Australian dollar, with AUD/NZD easing up 0.02% to 1.0953.

GBP/USD
GBP/USD rose 0.15% to 1.6886 from around 1.6849 ahead of the release of the data.Cable was likely to find support at 1.6814, the low of August 1 and a one-and-a-half month low and support at 1.6955, the high of July 30. Market research group Markit said the Markit/CIPS Services Purchasing Managers Index jumped to an eight-month high of 59.1 last month from a reading of 57.7 in June. Economists had expected the index to tick up to 57.9. The report came after data on Monday showed that the expansion in the U.K. construction sector slowed a touch in July, but was still faster-than-expected.Expectations for a rate hike by the Bank of England before the end of this year were boosted after the bank recently signalled that rates could rise sooner than markets expect if the recovery continues.

RECOMMENDATION :

1. Buy NZD/USD Above 0.8530 TG: 0.8545/ 0.8565 SL 0.8510
2. Sell NZD/USD Below 0.8498 TG: 0.8483/0.8478 SL 0.8518

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

6Aug
sgx 6 aug 2014

Financial Sgx Singapore Stock Market Trading Picks And News –06th August 2014

MARKET UPDATES :

  • Singapore’s parliament has passed a bill proposing to fine companies that pollute the country’s air, regardless of whether the companies operate on the island. The bill was drafted after Singapore suffered the worst haze on record last year as smoke from forest clearing in neighbouring Indonesia shrouded the city
  • Temasek named John Cryan as the advisory senior director to strengthen its network and relationships in Europe. Mr Cryan, who was the president of Temaesk Europe, stepped down from his current responsibilities from Aug 1.
  • SINGAPORE Post Limited on Tuesday said its net profit for the fiscal first quarter ended June 30, 2014 rose 5.1 per cent to S$39.24 million.Revenue increased 4.8 per cent to S$210.91 million, as growth in e-commerce related activities continued to offset declines in the traditional postal business.Earnings per share were 1.863 cents, up from 1.775 cents. An interim dividend of 1.25 cents per ordinary share payable on Aug 29, has been declared
  • STARHUB has posted a 6.3 per cent decrease in net profit to S$94.3 million for the second quarter ended June 30. Operating revenue for the same period stood at S$576.4 million, slipping 1.8 per cent from the same period a year ago.

STOCK RECOMMENDATION :

  • BUY OCBC ABOVE 9.980 TG 10.080, 10.180, 10.300 SL 9.860

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

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.