Daily Archives: September 1, 2014

1Sep

Comex Commodity Trading Signals and Market News – 01 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rose in Asia on Monday after manufacturing data pointed to steady demand and on possible new sanctions on Russia and with  markets in the U.S. and Canada closed for the Labor Day holiday. Gold for December delivery traded at $1,287.70 a troy ounce, up 0.02%, after ending last week at $1,288.20 a troy ounce on the Comex division of the New York Mercantile Exchange .Gold futures rose 0.62% last week, but ended the month down 0.51%. The HSBC final manufacturing PMI came in at 50.2, just below the 50.3 expected. U.S. officials are working closely with the European Union to keep their Russia sanctions programs aligned in timing and severity. European Council President Herman Van Rompuy said the bloc wouldn’t set out specific criteria for triggering fresh sanctions but said there was “determination” to ensure Russia paid an appropriate price for heightening tensions.

Crude oil prices ended the month lower, despite posting their first weekly gain in five weeks on Friday bolstered by concerns over worsening tensions in Ukraine and as broadly upbeat U.S. data lifted the demand outlook. On the New York Mercantile Exchange, crude oil for delivery in October added 1.34% to end the week at $95.82 a barrel late Friday. Nymex oil futures rose 2.58% last week, but ended the month with losses of 2.11%. Crude oil moved higher after data showed that U.S. consumer sentiment rebounded to a seven year high in August, with the final reading of the University of Michigan’s consumer confidence index rising to 82.5 from 81.8 in June. Another report indicated that manufacturing activity in the Chicago region continued to expand in August, pointing to underlying strength in the sector.

Natural gas prices edged higher on Friday as updated weather-forecasting models called for warm temperatures for a good portion of the U.S. in the coming week, which should maintain demand for air conditioning. On the New York Mercantile Exchange, natural gas futures for delivery in October were up 0.28% at $4.056 per million British thermal units during U.S. trading. The commodity hit a session low of $4.012, and a high of $4.067.Natural gas futures were likely to find support at $3.932 per million British thermal units, Wednesday’s low, and resistance at $4.101, Thursday’s high. Weather-forecasting models have called for above-normal temperatures to settle over the eastern U.S., though intensity of the forecasts has fluctuated at times.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1294 TGT 1299,1304 SL 1289
  • SELL GOLD BELOW 1285 TGT 1281,1277 SL 1290.50

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1Sep
Forex Signals

IForex Market Trading Signals and News of 01st September 2014

TRADING TIPS :

  • Forex-Dollar gains on buoyant U.S. data, Ukraine in focus.
  • Forex-week ending August 26: speculators more bearish on Euro, Yen.
  • Forex-Dollar index holds near 11-month highs on strong U.S. Data.

USD/CAD
USD/CAD was down 0.03% at 1.0858, up from a session low of 1.0811 and off a high of 1.0863. The pair was likely to find support at 1.0797, the low from July 29, and resistance at 1.0998, the high from Aug. 25.In the U.S. earlier, the Thomson Reuters/University of Michigan revised consumer sentiment index came in at 82.5 this month, up from a preliminary reading of 79.2 and exceeding expectations for a reading of 80.1.Data revealed that the Chicago-area purchasing managers’ index rose to 64.3 in August from 52.6 in July, beating expectations for an increase to 56.0.

GBP/USD
GBP/USD hit 1.6608 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6604, up 0.11%. Cable was likely to find support at 1.6537, the low of August 27 and a five-month low and resistance at 1.6679, the high of August 20.The University of Michigan said its consumer sentiment index was revised to 82.5 this month, up from a preliminary reading of 79.2, exceeding expectations for a reading of 80.1. Data also showed that the Chicago purchasing managers’ index rose to 64.3 in August, from a reading of 52.6 the previous month, beating expectations for an increase to 56.0.

RECOMMENDATION :

1. Buy USD/CAD Above 1.0905-TG: 1.0925/1.0955 SL 1.0875
2. Sell USD/CAD Below 1.0790-TG: 1.0770/1.0740 SL 1.0760

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1Sep
sgx 01 sep 2014

Financial Sgx Singapore Stock Market Trading Picks And News –01st September 2014

MARKET UPDATES :

  • Total bank lending in Singapore was barely changed in July from June as loans to manufacturing, building and construction rose while lending to financial institutions fell, central bank data showed on Friday. Loans and advances by domestic banking units in the city-state amounted to S$597.4 billion (US$478.4 billion) last month, compared to S$597.7 billion in June, according to the Monetary Authority of Singapore.
  • There’s an eerie silence at night in Sentosa Cove, the man-made island resort billed as Singapore’s answer to Monte Carlo and the only place in the country where foreigners can buy landed property. Dozens of houses – complete with their own private yacht berths and multiple swimming pools – sit empty while few lights are on in the apartment blocks overlooking the marina, a few kilometres away from Sentosa’s giant casino.
  • INFORMATION technology solutions distributor ECS Holdings is poised to capture the upswing from a new infrastructure refresh cycle for servers, said OCBC Investment Research in upgrading the stock to “buy” from “hold”. Systems that were deployed shortly after the global financial crisis are due to be retired and replaced, analyst Eugene Chua wrote in a note

STOCK RECOMMENDATION :

  • BUY JARDIEN STRATEGIC HOLDING ABOVE 36.400 TG 36.650, 37.000, 37.400 SL 36.100

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