Daily Archives: September 5, 2014

5Sep

Comex Commodity Trading Signals and Market News – 05 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices eased further in Asia on Friday, driven by sentiment the dollar will move to further strength after the European Central Bank cut rates and that physical demand may wane. On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at $1,258.80 a troy ounce, down 0.61%, after hitting an overnight session low of $1,267.60 and off a high of $1,277.90. gold prices moved lower after upbeat U.S. service-sector data fueled demand for the greenback, though a ECB decision to stimulate the economy cushioned losses by sending investors hedging the precious metal against a sliding euro. The Institute for Supply Management reported earlier that its services index rose to 59.6 in August from 58.7 in July, far surpassing market forecasts for a downtick to 57.5.

Natural gas prices took a dive on Thursday after a widely-watched report revealed that U.S. inventories grew more last week than markets were anticipating. On the New York Mercantile Exchange, natural gas futures for delivery in October were down 1.26% at $3.799 per million British thermal units during U.S. trading. The commodity hit a session low of $3.791, and a high of $3.879. The October contract settled down 1.11% on Wednesday to end at $3.847 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 $4.078, Tuesday’s high. Analysts were expected a build of 73 billion cubic feet, and the greater than-expected figure softened natural gas prices.

Copper futures bounced off the previous session’s two-week low on Thursday, as investors looked ahead to a policy decision from the European Central Bank as well as key U.S. data scheduled for later in the session. Prices held in a range between $3.127 and $3.145 a pound. Futures were likely to find support at $3.113, the low from August 20 and resistance at $3.174 a pound, the high from September 2. Focus turns to the European Central Bank’s policy meeting later in the day, amid speculation the central bank could unveil fresh stimulus measures to fight inflation and boost growth.

• West Texas Intermediate oil futures were lower on Thursday, as investors awaited the release of weekly supply data out of the U.S. later in the session to gauge the strength of oil demand from the world’s largest consumer. The report comes out one day later than usual because of the U.S. Labor Day holiday. On the New York Mercantile Exchange, crude oil for delivery in October declined 0.89%, or 85 cents, to trade at $94.69 a barrel during European morning hours. Prices held in a narrow range between $94.66 and $95.28 a barrel. Futures were likely to find support at $93.06 a barrel, the low from September 3 and resistance at $95.91 a barrel, the high from September 2.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1266 TGT 1270,1275 SL 1261
  • SELL GOLD BELOW 1262 TGT 1258,1253 SL 1267

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

5Sep
forex-trading3

IForex Market Trading Signals and News of 05 September 2014

TRADING TIPS :

  • Forex-Dollar steady as central banks, U.S. data awaited.
  • Forex-Euro steady ahead of ECB policy announcement.
  • Forex-Japanese yen retraces weakness after BoJ keeps policy steady.

NZD/USD
NZD/USD dipped 0.10% to 0.8316, not far from the six month trough of 0.8286 struck on Wednesday.The pair was likely to find support at around 0.8286 and resistance at the 0.8350 level.The New Zealand dollar ended Wednesday’s session slightly higher against the greenback as hopes that a resolution to end the conflict in Ukraine could be reached buoyed investor sentiment.Demand for the greenback continued to be underpinned by expectations that the Federal Reserve is growing closer to raising interest rates as recent upbeat economic reports indicated that the U.S. recovery is deepening.

GBP/USD
GBP/USD was trading at 1.6453, holding above Wednesday’s lows of 1.6438, the weakest level since February. Cable was likely to find support at around 1.6380 and resistance at about the 1.65 level.The BoE was widely expected to leave rates on hold on Thursday, even though the monetary policy committee was split seven to two in favor of a rate hike last month.Expectations that the BoE will raise interest rates in the coming months have been boosted by economic reports pointing to a deepening recovery.Speculation has been mounting that the ECB will announce quantitative easing measures as a way to stave off deflation after the annual rate of euro area inflation slowed to a five year low of 0.3% last month

RECOMMENDATION :

1. Buy EUR/USD Above 0.8377-TG: 0.8397/0.8437 SL 0.8347
2. Sell EUR/USD Below 0.8303-TG: 0.8283/0.8253 SL 0.8333

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