Daily Archives: August 28, 2014

28Aug

Comex Commodity Trading Signals and Market News – 28th August 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices edged lower in listless trading on Wednesday ahead of a flurry of economic indicators due for release on Thursday. On the Comex division of the New York Mercantile Exchange, goldfutures for December delivery traded at 1,284.00 a troy ounce during U.S. trading, down 0.09%, up from a session low of $1,281.10 and off a high of $1,288.30.The December contract settled up 0.49% at $1,285.20 on Tuesday. Futures were likely to find support at $1,273.40 a troy ounce, Thursday’s low, and resistance at $1,291.90, Tuesday’s high.Gold has come under pressure recently on sentiments that the Federal Reserve remains on track to close up stimulus programs around October and begin raising interest rates in 2015.

Natural gas prices rose on Wednesday amid expectations that seasonably warm temperatures will hike demand for the commodity at the nation’s thermal power plants as households crank up their air conditioning .On the New York Mercantile Exchange, natural gas futures for delivery in October were up 1.51% at $4.009 per million British thermal units during U.S. trading. The commodity hit a session low of $3.966, and a high of $4.032.The October contract settled down 0.75% on Tuesday to end at $3.949 per million British thermal units.Natural gas futures were likely to find support at $3.732 per million British thermal units, the low from Aug. 17, and resistance at $4.172, the high from July 14.Updated weather forecasting models called for seasonably warm temperatures across most of the country for the coming days, with parts of the eastern and central U.S. seeing above-normal mercury readings into the first week of September.

Crude oil prices dipped in early Asia on Thursday as ample supplies diminished concerns over oil-producing geopolitical hotspots and the prospects of faster economic growth in the United States. On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in October traded at $93.74 a barrel, down 0.15%, after hitting an overnight session low of $93.39 a barrel and a high of $94.24 a barrel. Overnight, crude prices slipped despite a bullish weekly supply report, as the data revealed that inventories rose at a key U.S. delivery point. The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories declined by 2.1 million barrels in the week ended Aug. 22, far surpassing expectations for a decline of 1.3 million barrels.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1287 TGT 1291,1296 SL 1282
  • SELL GOLD BELOW 1280 TGT 1276,1271 SL 1285

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28Aug
forex-trading3

IForex Market Trading Signals and News of 28th August 2014

TRADING TIPS :

  • Forex-Dollar slips lower on profit-taking.
  • Forex-AUD/USD edges higher but gains limited.
  • Forex-EUR/USD hits fresh 11-month lows on Gfk report.

EUR/USD
GBP/USD hit 1.6575 during European morning trade, the session high; the pair subsequently consolidated at 1.6578, adding 0.17%.Cable was likely to find support at 1.6537, the session low and a five-month low and resistance at 1.6599, the high of August 25.The dollar found support on Tuesday after the Conference Board said its index of consumer confidence rose to 92.4 this month, the highest since October 2007, from a reading of 90.3 in July.The data fuelled further optimism over the strength of the U.S. economic recovery.Last week, Federal Reserve Chair Janet Yellen said at Jackson Hole that the U.S. economy is recovering and added the labor market is improving as well.

GBP/USD
EUR/USD was steady at 1.3170 during late Asian trade, the pair’s lowest since September.The pair was likely to find support at 1.3105 and resistance at 1.3215, Tuesday’s high.Data showed that the Gfk German consumer climate index fell to 8.6 this month, from a reading of 9.0 in July. Analysts had expected the index to remain unchanged in August.Meanwhile, the dollar remained supported after the Conference Board on Tuesday said its index of consumer confidence rose to 92.4 this month, the highest since October 2007, from a reading of 90.3 in July.

RECOMMENDATION :

1. Buy EUR/USD Above 1.3203 -TG:1.3223/1.3253 SL 1.3173
2. Sell EUR/USD Below 1.3129-TG: 1.3109/1.3089 SL 1.3159

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28Aug
sgx 28 aug 2014

Financial Sgx Singapore Stock Market Trading Picks And News –28th August 2014

MARKET UPDATES :

  • Mainboard-listed tourism operator Straco Corporation could be getting ready to announce its acquisition of the Singapore Flyer, The Business Times understands. The firm was among the frontrunners to buy the iconic Ferris wheel by the Esplanade. Straco currently runs two aquariums and a mountain cable car service in China. Its shares have surged 157 per cent from a year ago. Straco last closed at 82 cents, near a historical high.
  • THE roughly 300 investment funds approved by the Central Provident Fund (CPF) continued to do well amid liquidity from central banks and low volatility. The average fund under the CPF Investment Scheme (CPFIS) posted a 3.73 per cent return in the three-month period ended June 2014. On average, this beat the 4 per cent minimum interest rate offered by the CPF Special, Medisave and Retirement Accounts (SMRA).
  • SINGAPORE LNG Corporation (SLNG) has awarded a S$700 million engineering, procurement and construction contract for the Phase 3 expansion of the Singapore LNG Terminal to Samsung C&T Corporation. The contract, signed on August 26, involves the further expansion of the terminal to include a fourth liquefied natural gas (LNG) storage tank and additional regasification facilities.

STOCK RECOMMENDATION :

  • BUY DBS GROUP HOLDING ABOVE 18.000 TG 18.100, 18.220, 18.350 SL 17.870

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