Daily Archives: August 11, 2014

11Aug

Comex Commodity Trading Signals and Market News – 11th August 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices fell on Friday after reports that Russia was standing down on the border with Ukraine coupled with news that the U.S. has launched airstrikes in Iraq to halt a Sunni insurgency there chipped away at the yellow metal’s safe-haven appeal. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,310.70 a troy ounce during U.S. trading, down 0.14%, up from a session low of $1,307.60 and off a high of $1,324.10. The December contract settled up 0.33% at $1,312.50 on Thursday.

Crude prices came off earlier highs on Friday after markets bet that U.S. airstrikes against Sunni insurgents in Iraq will halt the advance and buffer the country’s large oilfields in the south. The September contract settled up 0.43% at $97.34 a barrel on Thursday.

Natural gas futures traded near session highs on Friday after updated weather-forecasting models predicted a heat wave to trekk across the eastern U.S. in the coming days, which should hike demand for air conditioning. On the New York Mercantile Exchange, naturalgas futures for delivery in September traded at $3.957 per million British thermal units during U.S. trading, up 2.08%. The commodity hit a session low of $3.874, and a high of $3.960. The September contract settled down 1.45% on Thursday to end at $3.876 per million British thermal units.

Gold futures rose to three-week highs on Friday, as mounting geopolitical tensions in Iraq and Ukraine further boosted safe- haven demand. On the Comex division of the New York Mercantile Exchange, goldfor December delivery traded at $1,321.10 a troy ounce during European morning trade, gaining 0.66%.The December contract settled 0.33% higher on Thursday to end at $1,312.5 a troy ounce.

Crude oil futures rose on Friday, as geopolitical tensions in Iraq fuelled speculation over potential supply disruptions in the region. Oil prices gained ground after U.S. President Barack Obama on Thursday authorized air strikes in Iraq to put an end to an onslaught by Islamic militants and begun military air-drops of humanitarian supplies to besieged religious minorities to prevent a “potential act of genocide”.

TRADING STRATEGY :

  • BUY COMEX GOLD ABOVE 1322 TG 1332,1352 SL 1306
  • SELL COMEX GOLD BELOW 1300 TG 1290,1270 SL 1315

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11Aug
Forex Signals

IForex Market Trading Signals and News of 11th August 2014

TRADING TIPS :

  • Forex -Dollar falls on European data, geopolitical concerns
  • Forex -CFTC – week ending August 5: speculators more bearish on Euro, Yen
  • Forex -Dollar rises on jobless claims, though geopolitical woes dampen gains

USD/JPY
USD/JPY hit 101.60 during late Asian trade, the pair’s lowest since July 24; the pair subsequently consolidated at 101.73, shedding 0.35%.The pair was likely to find support at 101.42, the low of July 24 and resistance at 102.15, the session high.The greenback strengthened broadly this week after a series of upbeat U.S. economic reports sparked fresh speculation over the timing of a rate cut by the Federal Reserve.On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 2 decreased by 14,000 to 289,000 from the previous week’s total of 303,000.

GBP/USD
In U.S. trading on Thursday, GBP/USD was trading down 0.08% at 1.6842 up from a session low of 1.6824 and off a high of 1.6864.Cable was likely to find support at 1.6822, Wednesday’s low, and resistance at 1.6888, Tuesday’s high. The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Aug. 2 fell by 14,000 to 289,000 from the previous week’s total of 303,000. Analysts had expected jobless claims to rise by 2,000 to 305,000 last week, and the numbers fueled already growing market expectations for the Federal Reserve to close its monthly bond-buying stimulus program in October and begin hiking interest rates afterwards in 2015.

RECOMMENDATION :

1. Buy USD/JPY Above 102.18: TG: 102.33/102.53 SL 102.03
2. Sell USD/JPY Below 101.45 TG: 101.30/101.10 SL 101.65

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11Aug
sgx 11 aug 2014

Financial Sgx Singapore Stock Market Trading Picks And News –11th August 2014

MARKET UPDATES :

  • Kalpa PROPERTY and hotel group UOL has posted net profit attributable to shareholders of S$211.72 million for the second quarter ended June 30 – a 51 per cent drop from the nearly S$431.40 million net earnings in the same period last year.
  • STATS ChipPAC on Friday narrowed its net loss for its second quarter, in the absence of a one-off item booked a year ago.Net loss for the three months ended June 29 stood at US$4.18 million, compared to a net loss of US$52.2 million a year ago.
  • [SINGAPORE] The earnings story is still largely at play this week:Offshore marine player Nam Cheong said its net profit for the second quarter ended June 30 surged 55 per cent to 63.3 million Malaysian ringgit on the back of strong vessel orders. Its revenue leapt 38 per cent to RM378.8 million. Year-to-date, Nam Cheong has achieved strong orders for 13 vessels worth about US$290 million.
  • LOYZ Energy said on Friday morning that it has entered into a subscription agreement with Oversea-Chinese Banking Corporation (OCBC) under which it will issue 22.22 million free and detachable warrants in two tranches to the bank.

STOCK RECOMMENDATION :

  • BUY UNITED OVERSEAS BANK ABOVE 22.800 TG 23.000,23.400 SL 22.500

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