Daily Archives: September 30, 2015

30Sep

Comex Trading Signals and Market News – 30 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper futures tumbled to the lowest level in more than six years on Tuesday, as concerns over the health of China’s economy    dampened appetite for the red metal.Copper for December delivery on the Comex division of the New York Mercantile Exchange hit an intraday low of $2.225 a pound, a level not seen since July 2009, before trading at $2.234 during morning hours in London, down 1.8 cents, or 0.79%.
  • Oil prices remained weak on Tuesday, following a slide of almost 3 percent the previous session, as concerns over Asia’s economic health mounted and as production remained high. “China’s industrial profits declined 8.8 percent in August from a year earlier, with the biggest drops concentrated in producers of coal, oil and metals,” ANZ said on Tuesday. Oil prices, along with most other commodities, have fallen sharply recently, with crude futures losing almost 60 percent of their value since June 2014.
  • Gold futures edged lower on Tuesday, as expectations for a U.S. rate hike in the coming months continued to weigh on the precious metal.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched down $5.40, or 0.48%, to trade at $1,126.30 a troy ounce during European morning hours.Gold fell to a five-and-a-half year low of $1,072.30 on July 24 amid speculation the Fed will raise interest rates for the first time since 2006 at some point this year.

ECONOMY NEWS :

  • Central bank of India will work with the government to ensure that the benefits of a cut in the policy interest rate is passed on by commercial banks through reductions in their lending rates, Reserve Bank of India Governor Raghuram Rajan said on Tuesday. On Tuesday, the Reserve Bank of India cut its policy interest rate to a 4-1/2 year low of 6.75 percent, in a bigger than-expected move that, with inflation running at record lows, could help an economy in danger of slowing down.
  • Billionaire investor activist Carl Icahn ramped up criticism of the U.S. Federal Reserve, warning about the unintended consequences of ultra low interest rates on the economy and financial markets. The Fed’s loose monetary policies have pulled the U.S. economy out of crisis but the cheap credit has also fueled a corporate debt binge and a quest for yield among ordinary investors, who are buying riskier assets such as junk bonds to get a better return.
  • A substantial fall in global commodity prices allowed India’s central bank to front-load interest rate reductions with a better-than-expected 50 basis point cut on Tuesday, Reserve Bank of India Governor Raghram Rajan said on Tuesday.The RBI cut its policy interest rate to a 4-1/2 year low of 6.75 percent, in a move that, with inflation running at record lows, could help an economy in danger of slowing down.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1127 TARGET 1132 1138 SL 1121
  • SELL GOLD BELOW 1120 TARGET 1115 1109 SL 1126

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH SINGAPORE.

30Sep
forex-trading3

IForex Market Trading Signals and News – 30 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Dollar lower against firmer yen amid China growth fears
  • FOREX – Euro hits day’s lows on weak German inflation data
  • FOREX – Commodity currencies recover, subdued German inflation hits euro

NZD/USD
The New Zealand dollar slid lower against its U.S. counterpart on Tuesday, hovering close to a recent six-year trough as risk-aversion continued to dominate market sentiment amid global growth worries.NZD/USD hit 0.6290 during late Asian trade, the pair’s lowest since September 24; the pair subsequently consolidated at 0.6302, sliding 0.44%. The pair was likely to find support at 0.6233, the low of September 23 and resistance at 0.6406, Monday’s high.Market sentiment was hit after International Monetary Fund head Christine Lagarde said in an interview on Monday that the IMF is likely to revise downwards its estimates for global economic growth due to slower expansion in emerging economies.The U.S. dollar was also boosted by data on Monday showing that U.S. personal spending rose 0.4% in August, beating expectations for an increase of 0.3%. The kiwi was higher against the Australian dollar, with AUD/NZD shedding 0.21% to 1.1020.

AUD/USD
The Australian dollar dropped against its U.S. counterpart on Tuesday, re-approaching a six-year low as global growth concerns continued to weigh on sentiment and as expectations for a U.S. rate hike in the coming months supported the greenback. AUD/USD hit 0.6937 during late Asian trade, the pair’s lowest since September 24; the pair subsequently consolidated at 0.6952, declining 0.54%. The pair was likely to find support at 0.6893, the low of September 7 and a six-year low and resistance at 0.7035, Monday’s high. Market sentiment weakened after International Monetary Fund head Christine Lagarde said in an interview on Monday that the IMF is likely to revise downwards its estimates for global economic growth due to slower expansion in emerging economies.The U.S. dollar was als boosted by data on Monday showing that U.S. personal spendingrose 0.4% in August, beating expectations for an increase of 0.3%. The Aussie was lower against the euro, with EUR/AUD advancing 0.83% to 1.6220.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5170 TARGET 1.15190 1.5220 SL 1.5140
  • SELL GBP/USD BELOW 1.5140 TARGET 1.15120 1.5090 SL 1.5170

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

30Sep
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 30 September 2015

MARKET UPDATES :

  • The Straits Times Index (STI) ended 3.98 points or 0.14% lower to 2787.94, taking the year-to-date performance to – 17.15%.
  • The top active stocks today were DBS, which declined 1.27%, SingTel, which gained 0.85%, OCBC Bank, which gained 0.12%, UOB, which declined 0.11% and Wilmar Intl, with a 3.08% fall.
  • The FTSE ST Mid Cap Index declined 0.66%, while the FTSE ST Small Cap Index declined 0.32%.
  • The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 0.88%. The two biggest stocks of the Index – Silverlake Axis and STATS ChipPAC – ended 1.87% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Utilities Index, which slipped 1.99%. China Everbright Water shares declined 2.46% and SIIC Environment Holdings declined 2.94%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : Dbxt Msci China Trn Etf 10 (-3.57%), Sti Etf (-0.35%), Spdr Gold Shares (-0.96%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas Reit (+0.44%), Capitamall Trust (unchanged), Capitacom Trust (-0.38%)
  • The most active index warrants by value today were : HSI21400MBeCW151127 (-25.25%), HSI21800MBeCW151029 (-43.55%), HSI20800MBeCW151029 (unchanged)
  • The most active stock warrants by value today were : DBS MB eCW160201 (-5.75%), OCBC Bk MBeCW160111 (+0.85%), UOB MB eCW160201 (-26.94%)

STOCK RECOMMENDATION :

  • BUY THAI BEVERAGE ABOVE 0.710 TARGET 0.730 0.760 SL 0.670

For more information about SGX stock market please feel free to visit EPIC RESEARCH SINGAPORE.

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