Daily Archives: August 8, 2014

8Aug

Comex Commodity Trading Signals and Market News – 08th 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 1321 TG 1327 1337 SL 1311
  • SELL GOLD COMEX BELOW 1311 TG 1305,1295 SL 1221

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8Aug
Forex Signals

IForex Market Trading Signals and News of 08th August 2014

TRADING TIPS :

  • Forex -Pound edges lower against dollar before BoE
  • Forex -Bitcoin stabilizes at $580-level in rangebound trade
  • Forex -USD/CHF edges up, hovers near 8-month highs

AUD/USD
AUD-USD hit 0.9263 during late Asian trade, the pair’s lowest since June 5; the pair subsequently consolidated at 0.9267, declining 0.93%.The pair was likely to find support at 0.9230, the low of June 3 and resistance at 0.9358, the session high.Official data earlier showed that the number of employed people in Australia fell by 300 in July, confounding expectations for an increase of 12,000. June’s figure was revised down to a 14,900 gain from a previously estimated 15,900 rise.The report also showed that Australia’s unemployment rate rose to 6.4% last month, from 6.0% in June. Analysts had expected the unemployment rate to remain unchanged in July.

GBP/USD
GBP-USD hit 1.6834 during early European afternoon trade, the session low; the pair subsequently consolidated at 1.6850, dipping 0.03%. Cable was likely to find support at around the 1.68 level and resistance at 1.6887, this week’s high.At the conclusion of its monthly policy meeting, the BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely expected move.The central bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at £375 billion. The pound had come under pressure on Wednesday after data showed that industrial and manufacturing output in the U.K. expanded at a slower than expected rate in June.

RECOMMENDATION :

1. Buy AUD/USD Above 0.9298: TG: 0.9313/0.9333 SL 0.9278
2. Sell AUD/USD Below 0.9245 TG: 0.9230/0.9210 SL 0.9265

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8Aug
sgx 8 aug 14

Financial Sgx Singapore Stock Market Trading Picks And News –08th August 2014

MARKET UPDATES :

  • SINGAPORE] Commodity trader Noble Group Ltd said on Thursday its second-quarter net profit rose 5 per cent from a year earlier to US$65.8 million, pushing its first-half net profit to more than double on the year.Hong Kong-based Noble Group is one of the world’s largest commodity traders.
  • [SYDNEY] Singapore-listed Frasers Centrepoint Ltd will buy Australia’s Australand Property Group for A$2.6 billion (US$2.41 billion) after securing shareholder approval late on Thursday. In a statement to the Australian Securities Exchange, Frasers said Australand investors with 56.8 per cent of its shares supported the offer,
  • SHARES of OCBC Bank continued to rise in Thursday morning trading, crossing S$10 a share even as peers DBS Group and UOB continued their slide on profit-taking. At 10:54 am, OBC shares were up 6 cents to hit a 52- week high of S$10.16 each.DBS shares slid 21 cents to S$18.16 each, while UOB shares shed 3 cents to S$22.57.
  • SINGAPORE eDevelopment (formerly CCM) sank deeper into the red, reporting a net loss of S$5.7 million for the six months ended June 30 compared to a net loss of S$68,00

STOCK RECOMMENDATION :

  • BUY UNITED OVERSEAS BANK ABOVE 22.700 TG 22.800. 22.920. 23.100 SL 22.580

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