Daily Archives: August 7, 2014

7Aug

Comex Commodity Trading Signals and Market News – 07th August 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices shot up on Wednesday and hovered near session highs on news Russian troops are amassing on the Ukraine border, which fueled safe-haven demand for the precious metal. On the Comex division of the New York Mercantile Exchange, goldfutures for December delivery traded at 1,309.10 a troy ounce during U.S. trading, up 1.85%, up from a session low of $1,288.40 and off a high of $1,310.60.The December contract settled down 0.28% at $1,285.30 on Tuesday.

Crude prices fell on Wednesday despite an upbeat weekly U.S. inventory report, as investors traded on concerns that the global economy is awash in crude. n the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in September traded down 0.49% at $96.91 a barrel during U.S. trading. New York-traded oil futures hit a session low of $96.75 a barrel and a high of $98.12 a barrel.The September contract settled down 0.93% at $97.38 a barrel on Tuesday.

Copper futures fell to a more than two-week low on Wednesday, as renewed concerns over the health of China’s economy dampened appetite for growth-linked assets. On the Comex division of the New York Mercantile Exchange, copper for September delivery fell to a daily low of $3.182 a pound, the weakest since July 21, before trimming losses to last trade at $3.188 during European morning hours, down 0.5%, or 1.6 percents.

• West Texas Intermediate oil futures extended gains to hit the highest levels of the session on Wednesday, after data showed that oil supplies in the U.S. fell more than expected last week. On the New York Mercantile Exchange, crude oil for delivery in September advanced 0.69%, or 67 cents, to trade at $98.05 a barrel during U.S. morning hours. Prices were at $97.87 a barrel prior to the release of the supply data.U.S. oil futures fell to $97.00 a barrel on Tuesday, the lowest since February 5, before settling at $97.38, down 0.93%, or 91 percents.

TRADING STRATEGY :

  • BUY GOLD COMEX ABOVE 1310 TG 1316 ,1326 SL 1300
  • SELL GOLD COMEX BELOW 1296 TG 1290,1280 SL 1306

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7Aug
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IForex Market Trading Signals and News of 07th August 2014

TRADING TIPS :

Forex -Euro falls to fresh 9-month lows against dollar
Forex -Dollar index still near 10-1/2 month highs on U.S. data, Ukraine
Forex -Bitcoin wavers in directionless trade as sentiment remains shaky

NZD/USD
NZD/USD hit 0.8424 during late Asian trade, the pair’s lowest since June 4; the pair subsequently consolidated at 0.8439, declining 0.34%.The pair was likely to find support at 0.8402, the low of June 4 and resistance at 0.8492, the high of June 2.Official data earlier showed that the number of employed people in New Zealand rose 0.4% in the second quarter, confounding expectations for an increase of 0.7%, after a 0.9% rise in the three months to April.The report also showed that New Zealand’s unemployment rate ticked down to 5.6% in the last quarter, from 6.0% in the first quarter, compared to expectations for a decline to 5.8%.

GBP/USD
GBP/USD hit 1.6830 during European morning trade, the pair’s lowest since Monday; the pair subsequently consolidated at 1.6836, shedding 0.30%.Cable was likely to find support at 1.6739, the low of June 11 and resistance at 1.6927, the high of July 31.In a report, the Office for National Statistics said industrial production rose 0.3% in June, undershooting forecasts for a 0.6% gain, after falling 0.6% in May.Industrial output rose 1.2% year- over-year, compared to expectations for an increase of 1.5%.Manufacturing production was up 0.3% in June, after falling 1.3% in May. Economists had forecast an increase of 0.6%.Manufacturing output was 1.9% higher on a year-over-year basis, falling short of forecasts for a 2.1% rise.Sterling was lower against the euro, with EUR/GBP rising 0.23% to 0.7940.

RECOMMENDATION :

1. Buy NZD/USD Above 0.8483 TG: 0.8498/ 0.8518 SL 0.8463
2. Sell NZD/USD Below 0.8390 TG: 0.8375/0.8355 SL 0.8410

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7Aug
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Financial Sgx Singapore Stock Market Trading Picks And News –07th August 2014

MARKET UPDATES :

  • STRUCTURAL steel contractor Yongnam Holdings on Wednesday posted net loss of S$5.26 million for the fiscal second quarter ended June 30. A year ago, it had reported profit of S$8.63 million. Turnover plunged 46.5 per cent year on year to S$61.61 million, as no new contracts were secured in the reporting quarter. Consequently, loss per share was 0.42 cents. A year ago, the group posted earnings per share of 0.68 cents.
  • [SINGAPORE] Supercar dealers in wealthy Singapore are fretting over their future as higher taxes, new auto loan restrictions and a shift in tastes towards less ostentatious vehicles send sales plummeting. While the roar of high- octane engines is a familiar sound in central Singapore, home to the third-highest ratio of millionaires per capita in the world, supercar showrooms are largely silent.
  • COE or certificate of entitlement premiums rose across the board as dealers rushed to secure them following strong orders for new models and the realisation that the new quota was not as generous as first thought. Category A, for cars below 1,600cc and 130 hp, went up S$1,710 to S$64,600, while Cat B – for cars above 1,600cc or 130 hp – jumped S$3,688 to S$68,689.

STOCK RECOMMENDATION :

  • BUY SIA ENGINEERING ABOVE 4.600 TG 4.660, 4.740, 4.820 SL 4.520

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