Daily Archives: September 3, 2014

3Sep

Comex Commodity Trading Signals and Market News – 03 September 2014

INTERNATIONAL COMMODITY NEWS :

Oil prices dropped on Tuesday due to mounting concerns that global supply is far outreaching demand, while a stronger U.S. dollar also bruised the commodity .In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in October traded down 3.01% at $93.07 a barrel during U.S. trading. New York-traded oil futures hit a session low of $92.93 a barrel and a high of $95.88 a barrel. While the U.S. economy continues to show signs of improvement, the global economy may be battling headwinds, concerns of which that battered crude prices earlier. China’s official manufacturing index ticked down to 51.1 from 51.7 in July, while the HSBC manufacturing index slowed to 50.2 from 50.3 the previous month.

Natural gas prices dropped on Tuesday after weather forecasting models called for falling temperatures across the U.S., which should cut into the need for air conditioning and thus reduce demand for the commodity at the nation’s thermal power plants. On the New York Mercantile Exchange, natural gas futures for delivery in October were down 3.60% at $3.919 per million British thermal units during U.S. trading. The commodity hit a session low of $3.898, and a high of $4.073. The October contract settled up 0.52% on Friday to end at $4.065 per million British thermal units. U.S. markets were closed on Monday for the Labor Day holiday. Natural gas prices jumped higher last week, rising above the $4 level for the first time since mid-July on the coattails of above-average U.S. temperatures.

Gold prices dropped on Tuesday after an upbeat U.S. manufacturing report fueled demand for the U.S. dollar, which trades inversely with the yellow metal. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,265.70 a troy ounce during U.S. trading, down 1.69%, up from a session low of $1,263.20 and off a high of $1,288.60. The December contract settled down 0.23% at $1,287.40 on Friday. U.S. markets were closed on Monday for the U.S. Labor Day holiday. The greenback firmed and gold fell after the Institute for Supply Management reported that its manufacturing purchasing managers’ index jumped to 59.0 in August from 57.1 in July, defying analysts’ calls for the index to tick down to 56.8.

TRADING STRATEGY :

  • SELL GOLD BELOW 1266 TGT 1262,1256 SL 1271
  • BUY GOLD ABPVE 1270 TGT 1274,1279 SL 1265

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

3Sep
forex-trading3

IForex Market Trading Signals and News of 03 September 2014

TRADING TIPS :

  • Forex-Dollar index rallies to more than 1-year high.
  • Forex-Euro at 1-year lows against dollar amid ECB uncertainty.
  • Forex-Dollar hits 7-month highs vs. yen, euro at 1-year lows.

NZD/USD
NZD/USD hit 0.8342 during late Asian trade, the pair’s lowest since August 27; the pair subsequently consolidated at 0.8346, shedding 0.36%.The pair was likely to find support at 0.8311, the low of August 26 and a six-month low and resistance at 0.8407, the high of August 28.Investors continued to monitor developments in Ukraine after European Union leaders threatened over the weekend to impose a new round of sanctions on Russia if Moscow does not scale back its involvement in the conflict in eastern Ukraine.The commodity-linked currency had come under some pressure on Monday, after data showed that factory growth in China slowed last month.

GBP/USD
GBP/USD hit 1.6546 during European morning trade, the pair’s lowest since August 27; the pair subsequently consolidated at 1.6548, sliding 0.36%.Cable was likely to find support at 1.6525, the low of August 25 and a five- month low and resistance at 1.6615, the session high.The pound came under pressure after a poll showed the Yes to Independence camp gaining ground in the Scottish referendum battle.According to The Guardian, the YouGov poll released on Monday night put the lead for the No campaign at six points, down from 14 points in the middle of August and 22 points early last month.Sterling shrugged off data showing that activity in the U.K. construction sector expanded at the fastest rate since January last month.

RECOMMENDATION :

1. Buy NZD/USD Above 0.8381-TG: 0.8401/0.8431 SL 0.8351
2. Sell NZD/USD Below 0.8303-TG: 0.8283/0.8253 SL 0.8333

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3Sep
sgx 03 sep 2014

Financial Sgx Singapore Stock Market Trading Picks And News – 03 September 2014

MARKET UPDATES :

  • MAINBOARD-LISTED Rotary Engineering said on Tuesday it had won several contracts worth a total value of about S$80 million, including one which allowed it to break into the LNG (liquefied natural gas) space. Rotary – an engineering, procurement, construction and maintenance services company supporting the oil and gas and petrochemical industry – said it won its first LNG contract, through a deal with IHI Corporation.
  • OCBC Investment Research has downgraded its take on the oil and gas sector to neutral, but added that the long- term outlook is positive. The September report noted that there has been a softening in the day rates for deepwater and ultra-deepwater rigs, though charter rates for jackups are still holding up.
  • SINGAPORE has overtaken China as the largest source of Asian outbound real estate investment in the first six months of this year. Hong Kong, China and Malaysia trail behind. Ada Choi, senior director for CBRE Research Asia, noted that Singaporean investors were “driven overseas by domestic yield compression and a lack of suitable assets”.

STOCK RECOMMENDATION :

  • BUY COMFORTDELGRO LTD ABOVE 2.590 TG 2.630, 2.670, 2.730 SL 2.530

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