Daily Archives: September 2, 2014

2Sep

Comex Commodity Trading Signals and Market News – 02 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices held flat in Asia on Tuesday with Russia in focus, but overall thin tade with U.S. markets shut for a holiday overnight. Gold for December delivery traded at $1,287.50 a troy ounce, up 0.01%, after ending last week at $1,288.20 a troy ounce on the Comex division of the New York Mercantile Exchange.U.S. officials are working closely with the European Union to keep their Russia sanctions programs aligned in timing and severity. Overnight, the Russian ruble hit a fresh record low against the dollar as 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.Monetary policy announcements by central banks in Australia, Japan, Canada and the U.K. will also be awaited.

Crude oil prices fell in Asia early Tuesday in thin trade after U.S. markets were shot overnight for a public holiday and with supply data on U.S. stocks to be delayed by a day as a result. On the New York Mercantile Exchange, crude oil for delivery in October traded at $95.76 a barrel, down 0.21%, after settling Monday in electronic trade at $95.71 a barrel, down 0.26%. Overnight, the Russian ruble hit a fresh record low against the dollar as U.S. officials are working closely with the European Union to keep their Russia sanctions programs aligned in timing and severity. Existing sanctions have so far not disrupted oil exports from Russia, the world’s second-largest oil exporter 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

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. 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 :

  • SELL GOLD 1279 BELOW TGT 1275,1270 SL 1284
  • BUY GOLD ABOVE 1284 TGT 1288,1292 SL 1279

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2Sep

IForex Market Trading Signals and News of 02 September 2014

TRADING TIPS :

  • Forex-Russian rouble hits fresh record lows against dollar
  • Forex-Euro steady near 20-month lows vs. Swiss franc
  • Forex-AUD/USD edges higher despite Australian operating profits

NZD/USD
NZD/USD hit 0.8377 during early European trade, the session high; the pair subsequently consolidated at 0.8383, rising 0.28%.The pair was likely to find support at 0.8332, the low of August 27 and resistance at 0.8407, the high of Augst 28.Official data showed that New Zealand’s overseas trade index rose by 0.3% in the second quarter, confounding expectations for a 2.3% drop, after a 1.8% rise in the three months to April. Elsewhere, data showed that China’s manufacturing purchasing managers’ index ticked down to 51.1 in August, from a reading of 51.7 the previous month, still in expansion territory.

GBP/USD
GBP/USD hit 1.6644 during European morning trade, the pair’s highest since August 20; the pair subsequently consolidated at 1.6624, up 0.17%.Cable was likely to find support at 1.6561, the low of August 29 and resistance at 1.6678, the high of August 20.Markit research group said the U.K. manufacturing purchasing managers’ index ticked down to a 14-month low of 52.5 in August, from a downwardly revised 54.8 in July.Analysts had expected the index to rise to 55.0 last month.The report said growth in output and new orders continued to slow as market uncertainty and increasing geopolitical tensions weighed, while the pace of jobs growth in the sector also eased.

RECOMMENDATION :

1. Buy NZD/USD Above 0.8417-TG: 0.8437/0.8467 SL 0.8387
2. Sell NZD/USD Below 0.8308-TG: 0.8288/0.8258 SL 0.8338

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2Sep
sgx 02 sep  2014

Financial Sgx Singapore Stock Market Trading Picks And News –02 September 2014

MARKET UPDATES :

  • DBS Bank on Monday announced two senior management appointments as it seeks to build a regional leading transaction banking business, one of the bank’s strategic priorities. John Laurens, an industry veteran with over 30 years of banking experience, will join DBS on November 10 as head of global transaction services (GTS).
  • SINGAPORE’S GIC, together with affiliates of Blue Water Energy and Blackstone Energy Partners are investing US$500 million in Siccar Point Energy Limited, a new exploration, development and production company focused on the North Sea.
  • BMW Financial Services on Monday signed a strategic partnership with DBS Bank which will offer a range of car financing facilities to customers of BMW, MINI and Rolls-Royce vehicles. The partnership, which takes effect from September 4, rides on an existing co-operation between the BMW Group and DBS within the Asia region.
  • ASCENDAS Reit (A-Reit) had the highest annualised turnover velocity in the first seven months of 2014 at 67.5 per cent, making it the most active stock among the seven industrial reits listed on the Singapore Exchange. In July, Ascendas Reit reported net property income of S$116.3 million for the first quarter ended June 30, 2014, an increase of 7.7 per cent from S$108.0 million a year ago.

STOCK RECOMMENDATION :

  • BUY SMRT CORPORATION ABOVE 1.590 TG 1.615, 1.650, 1.690 SL 1.550

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