Daily Archives: October 1, 2014


Comex Commodity Trading Signals and Market News – 01 October 2014


Gold prices eased in Asia on Wednesday as investors continued to watch the dollar, which traded largely flat .On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,209.70 a troy ounce, up 0.09%, after hitting $1,210.30 a troy ounce during U.S. trading, down 0.70%. It hit a session low of $1,205.00 and off a high of $1,220.50. Overnight gold futures edged lower and threatened to post their first quarterly this year after soft European inflation data sparked demand for the U.S. dollar, which trades inversely with the yellow metal. Eurostat, the statistics arm of the European Union, reported earlier that the euro area’s annual inflation rate fell to a five-year low of 0.3% in September from 0.4% in August. Core inflation, which strips out food, energy, alcohol and tobacco costs, came in at 0.7%, down from 0.9% in August.

Natural gas prices fell on Tuesday after updated weather-forecasting models called for mild temperatures in the U.S. to offset the bullish pressures seen coming from a cool snap affecting portions of the central and northeastern reaches of the country . On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.77% at $4.122 per million British thermal units during U.S. trading. The commodity hit a session low of $4.100, and a high of $4.174.The November contract settled up 3.10% on Monday to end at $4.154 per million British thermal units. Natural gas futures were likely to find support at $4.011 per million British thermal units, Monday’s low, and resistance at $4.174, the session high.

Copper futures edged lower on Tuesday, as weaker than expected Chinese manufacturing data added to concerns over the health of the world’s second largest economy. On the Comex division of the New York Mercantile Exchange, copper or December delivery traded at $3.044 a pound during European morning hours, down 1.2 cents from $3.056 on Monday. Futures were likely to find support at $3.012, the low from September 29 and resistance at $3.067, the high from September 29.

Crude oil prices eased in Asia on Tuesday with investors looking ahead to weekly industry and government reports on U.S. crude oil stockpiles expected to be bearish. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $94.31 a barrel, down 0.21%, after hitting an overnight session low of $92.75 a barrel and a high of $94.63 a bar.


  • BUY GOLD ABOVE 1210 TGT 1214,1219 SL 1205
  • SELL GOLD BELOW 1203 TGT 1199,1194 SL 1208

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IForex Market Trading Signals and News – 01 October 2014


  • Forex-Dollar extends rally as euro weakens.
  • Forex-EUR/USD hits fresh 2-year lows as inflation data disappoints .
  • Forex-Dollar slips vs. yen, still supported near recent highs.

EUR/USD hit lows of 1.2590, the weakest since September 2012, and was last down 0.63% to 1.2605.The drop in the euro came after official data showed that the annual rate of euro are inflation fell to a five year low of 0.3% this month from 0.4% in August. The slowdown in inflation added to pressure on the European Central Bank to implement additional stimulus measures to stave off the threat of deflation in the region after the bank unexpectedly cut rates to record lows last month. A separate report showed that the euro zone’s unemployment rate was unchanged at 11.5% in August.Germany’s unemployment rate remained unchanged at 6.7% last month, in line with estimates.

GBP/USD hit 1.6287 during European morning trade, the pair’s highest since September 26; the pair subsequently consolidated at 1.6257, adding 0.09%. Cable was likely to find support at 1.6160, the low of September 16 and resistance at 1.6334, the high of September 26. In a revised report, the Office for National Statistics said that the U.K. gross domestic product increased by 0.9% in the second quarter, beating expectations for 0.8% growth and up from a previous estimate of 0.7%.Year-on-year, the U.K. economy expanded at a 3.2% rate in the second quarter, in line with expectations.Meanwhile, the dollar remained broadly supported by the view that the strengthening economic recovery in the U.S. would prompt the Federal Reserve to hike rates sooner.


1. Buy EUR/USD Above 1.2616-TG:1.2636/1.2666 SL 1.2586
2. Sell EUR/USD Below 1.2562-TG:1.2542/1.2512 SL 1.2592

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sgx 01 oct 14

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


  • JLL has launched an Expression of Interest (EOI) exercise for a portfolio of strata-titled shops on behalf of the HiapHoe Group as part of the group’s exercise to divest non-core assets while capitalising on the strong investor demand for retail space and income-generating assets. Hiap Hoe has identified a total of 39 shop units to be divested, the largest of which includes a a single portfolio of 33 strata units located at the basement of Parklane Shopping Mall at Selegie Road.
  • SINGAPORE’S mainboard-listed Tiong Seng Holdings has bagged a S$107.7 million job from national water agency PUB for the proposed construction of the second phase of the Stamford diversion canal. Work on the canal which stretches from Grange Road at the Orchard Boulevard junction to River Valley Road will start in November this year with a contract period of 40 months, said the construction group in an announcement to the Singapore Exchange. The proejct is not expected to have a material impact on the group’s net tangible assets and earnings per share for the current year ending December 2014.
  • OCBC said it now owns 20 per cent of China’s Bank of Ningbo – up from 15.34 per cent previously – after completing the subscription of 207.55 million new shares in the bank for 1.75 billion yuan (S$362.7 million) on Tuesday. As a result, Bank of Ningbo is now an associated company of OCBC. The placement price of 8.85 yuan per share that was earlier mentioned in January this year was adjusted to 8.45 yuan per share to account for the dividend that was paid during the year. The transaction was funded with the bank’s internal resources and satisfied in cash, said OCBC in an announcement to the Singapore Exchange. Bank of Ningbo is listed on the Shenzhen Stock Exchange with a market capitalisation of some 29.47 billion yuan as at Monday, after finishing the day at 10.22 per share. Its unaudited consolidated book value stood at some 29.22 billion yuan and net tangible asset value at 29.07 billion yuan as at end June 2014.
  • NOBLE Group has completed a deal with China’s Cofco Corp to form an agri-business joint venture Noble Agri. A consortium of investors consisting of Hopu Investment, Temasek, IFC and Standard Chartered Private Equity has also joined in as minority co-investors of Noble Agri. “The completion of this transaction marks a significant milestone in the continued development of our bulk commodity business,” said Noble’s chairman Richard Elman in a statement. In April, Noble Group first announced the deal to sell a 51-per-cent stake in Noble Agri to Cofco, China’s largest food processor, manufacturer and trader.
  • CITY Developments Limited (CDL), in its first foray into acquiring land for residential use in Japan, has joined hands with a US-based investment firm to buy a prime freehold site in Tokyo for 30.5 billion yen (S$355.5 million) from Seiko Holdings Corporation. The site is in the high-end residential Shirokane area in Tokyo’s Minato ward, where numerous foreign embassies and offices of multi-national corporations are based. A mansion that used to be the former home of Seiko founder Kintaro Hattori now sits on the site.
  • THE chief executive of traditional Chinese medicine retailer Eu Yan Sang has come out to say that the recent negative publicity in the US following an apparent case of lead-poisoning from its best-selling product has been unfair to the company. Richard Eu, speaking to reporters on Tuesday, addressed concerns arising from the alert raised by the US Food and Drug Administration (FDA) about a lead poisoning risk from its product called “Bo Ying Compound” following an incident in which an 18-month-old child who, fed the product, was poisoned.


  • BUY COMFORTDELGRO LTD ABOVE 2.400 TG 2.450, 2.500, 2.570 SL 2.340

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