Daily Archives: September 11, 2014

11Sep

Comex Commodity Trading Signals and Market News – 11 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold gained in Asia on Thursday as India moves into the festive season of Diwali and fall weddings with the precious metal a traditional gift. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,249.90 a troy ounce, up 0.37%, after hitting an overnight session low of $1,244.60 and off a high of $1,258.50. Gains were limited, however, as expectations for changing U.S. monetary policy within a year supported the dollar, which trades inversely with gold. The December contract settled down 0.46% at $1,248.50 on Tuesday.

Oil prices dropped to fresh eight-month lows on Wednesday after data revealed U.S. stockpiles fell less than markets were expecting last week, while a stronger U.S. dollar exacerbated losses. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in October traded down 1.20% at $91.64 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.27 a barrel and a high of $93.03 a barrel. The October contract settled up 0.10% at $92.75 a barrel on Tuesday Nymex oil futures were likely to find support at $91.24 a barrel, the low from Jan. 9, and resistance at $93.94 a barrel, Tuesday’s high.

Natural gas prices fell on Wednesday after investors locked in gains from bullish weather reports and sold for profits, jumping to the sidelines to await Thursday’s weekly supply report. On the New York Mercantile Exchange, natural gas futures for delivery in October were down 0.51% at $3.964 per million British thermal units during U.S. trading. The commodity hit a session low of $3.940, and a high of $3.993. The October contract settled up 2.79% on Tuesday to end at $3.984 per million British thermal units.

• West Texas Intermediate oil futures extended losses to hit a fresh eight-month low on Wednesday, after data showed that oil supplies in the U.S. fell less than expected, while gasoline stockpiles rose unexpectedly. On the New York Mercantile Exchange, crude oil for delivery in October tumbled 1.24%, or $1.15, to trade at $91.60 a barrel during U.S. morning hours. Total U.S. crude oil inventories stood at 358.6 millio barrels as of last week.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1252 TGT 1256,1261 SL1247
  • SELL GOLD BELOW 1245 TGT 1241.1237 SL 1250

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11Sep

IForex Market Trading Signals and News of 11 September 2014

TRADING TIPS :

  • Forex-Dollar continues to trade near 14-month highs vs. rivals.
  • Forex-Stronger dollar hits fresh 6-year highs against yen.
  • Forex-AUD/USD drops to 6-month lows on Westpac report.

USD/JPY
USD/JPY rose to fresh six year highs and was last up 0.56% to 106.78.The yen remained under pressure after data on Monday showing that Japan’s second quarter economic contraction was larger than initially estimated, and another report showing that the country’s current account surplus fell short of expectations in July.The weak data indicated the economy is struggling to gain momentum and fuelled expectations for more stimulus from the Bank of Japan.Meanwhile, expectations that the Federal Reserve is growing closer to raising interest rates have continued to support demand for the greenback.

GBP/USD
GBP/USD fell to lows of 1.6053, the weakest since November and was last at 1.6091, 0.08% lower for the day. Cable was likely to find support at the 1.6025 level and resistance at around 1.6160.Sterling fell to session lows amid investor jitters ahead of the results of a new poll due to be released later Wednesday at 10.30 pm BST.The latest opinion poll published on Tuesday showed that support for Scottish pro-independence voters had increased ahead of the September 18 referendum.Uncertainty over what currency an independent Scotland would use, as well as concerns over how much of the U.K. national debt it would take on have sparked a broad based sell off in sterling. A study by the San Francisco Fed published on Monday indicated that central bank officials see rates rising earlier than markets expect.

RECOMMENDATION :

1. Buy USD/JPY Above 105.90-TG:106.10/106.40 SL 105.60
2. Sell USD/JPY Below 106.75-TG:106.55/106.25 SL 107.05

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11Sep
sgx 11 sep 14

Financial Sgx Singapore Stock Market Trading Picks And News – 11 September 2014

MARKET UPDATES :

  • EVENTS caterer Neo Group’s net profit for the six months ended July fell 9.1 per cent, from S$2.8 million to S$2.5 million.This was mainly due to the bottom line not capturing the full length of the Chinese New Year season in the period, as well as an increase in the sales team and advertising costs to drive business growth. Revenue climbed 21.2 per cent, from S$23.1 million to S$28 million, boosted by an increase in sales for the food catering business and food retail business.A tax-exempt interim dividend of 1.05 Singapore cent per share was proposed.
  • MAJOR companies in the Asean region remain firmly on their growth path, but they are increasingly using debt to finance a growing gap between cash inflows and investments, acquisitions and dividends. This, said Standard & Poor’s Rating Services, could pose a risk.”Asean companies are increasingly using debt to finance growth, and are likely to continue doing that over the next two years,” said Standard & Poor’s credit analyst Xavier Jean. The ratings agency estimates that internal cash flows and cash balances could fund only about half of almost US$300 billion that Asean’s largest companies spent on expansion and acquisitions between 2008 and the first quarter of 2014. At the same time, these companies issued about US$150 billion of additional debt to bridge the gap.
  • FORECASTERS are less optimistic about the Singapore economy than they were three months ago, according to the latest quarterly survey by Singapore’s central bank.The 22 private sector economists and analysts who responded to the Monetary Authority of Singapore’s (MAS) survey in August expect the republic’s gross domestic product (GDP) to expand 3.3 per cent in 2014 – lower than the 3.8 per cent median forecast in the June edition of the survey.The slip was due to softer growth expectations for all sectors within the Singapore economy, except for the finance & insurance segment, where growth projections have been kept intact.
  • Apple’s mobile wallet on the new iPhone 6, known as Apple Pay, will not be available in Singapore.”Apple Pay has been announced for the US only at this time,” said Fiona Martin, director of corporate communications at Apple in an emailed statement to the Business Times on Wednesday. “We have no further details as they relate to Singapore, however we will update you should any details be announced.”Apple Pay relies on a technology known as near field communication (NFC) to facilitate contactless payments.
  • SINGAPORE Technologies Engineering’s (ST Engineering) aerospace arm will establish an aircraft maintenance, repair, and overhaul (MRO) facility at the Pensacola International Airport, said the group on Wednesday. Under the agreement, the City of Pensacola, which is in Florida, will construct an aircraft hangar complex on 18.66 acres of greenfield land and lease it to VT Mobile Aerospace Engineering (VT MAE) for 30 years.

STOCK RECOMMENDATION :

  • BUY JARDINE CYCLE ABOVE 43.800 TG 44.100, 44.500 SL 43.550

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