Daily Archives: October 6, 2015

6Oct

Comex Trading Signals and Market News – 06 October 2015

INTERNATIONAL COMMODITY NEWS :

  • Crude oil gained in Asia on Monday as investors saw the supply picture slightly tighter on U.S. rig count data last week. On the New York Mercantile Exchange, crude oil for delivery in November rose 0.22% to $45.64 a barrel. In the week ahead, investors will be focusing on Wednesday’s minutes of the Fed’s September meeting, when the central bank decided to delay hiking rates.On Monday, markets in China are to remain closed for a national holiday. Last week, crude oil futures rallied to one-week highs on Friday after data showing that the number of working U.S. oil rigs fell to a five-year low last week, alleviating concerns about oversupply.
  • Gold prices edged lower in European morning hours on Friday, but losses were expected to remain limited as Friday’ downbeat U.S. jobs data dampened expectations for a December rate hike by the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery slipped 0.22% to $1,134.10.The December contract ended Thursday’s session 2.06% higher at $1,136.60 an ounce. Futures were likely to find support at $1,124.30, the low from September 24 and resistance at $1,141.20, the high from October 2 and a one-week high.
  • An 18 per cent cut in natural gas prices will discourage further investments in exploring and developing new gas reserves, Moody’s said in its Credit Outlook report today It said the move is credit negative for producers like Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) as it will lower their revenues and cash flows. From October 1, gas prices have been reduced to $3.82 per million British thermal unit (mmBtu) from $4.66 previously on a gross calorific value basis.

ECONOMY NEWS :

  • German will provide India more than 2 billion euros ($2.25 billion) for developing a clean energy corridor and solar projects, Indian Prime Minister Narendra Modi said on Monday after talks with Chancellor Angela Merkel.Modi has made ambitious renewable energy targets a key part of his development agenda and climate change mitigation commitments ahead of a landmark international summit in Paris at the end of this year.
  • India and Germany signed a deal on Monday to fast-track business approvals, an arrangement to make it easier for German companies to operate in Asia’s third largest economy that was announced as Chancellor Angela Merkel visited New Delhi.The fast-track approvals process will ensure that German firms will have a single point of contact in the Indian administration, helping them to navigate a web of red tape that often thwarts business initiative.
  • Eric Rosengren still expects the Federal Reserve to raise interest rates this year despite what the head of the Boston Fed called a “weak” September jobs report, which could signal a more significant economic slowdown that delays the policy tightening. Rosengren, a dovish Fed official who regains a vote on policy next year, said he does not need to see actual evidence that inflation or wages are rising in order to back an initial rate hike. But the labor market, which is much improved since the recession, is key.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1136 TARGET 1141 1147 SL 1130
  • SELL GOLD BELOW 1130 TARGET 1125 1119 SL 1136

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

6Oct
forex-trading3

IForex Market Trading Signals and News – 06 October 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Yen holds flat after wages gain for second straight month-
  • FOREX – Dollar weaker as rate increase expectations pushed back
  • FOREX – Dollar nurses losses after downbeat jobs report

GBP/USD
The pound trimmed gains against the U.S. dollar on Monday, after data showed that service sector activity in the U.K. expanded at a slower rate than expected last month, dampening optimism over the strength of the economy. GBP/USD pulled back from 1.5244, the pair’s highest since September 25, to hit 1.5183 during European morning trade, steady for the day. Cable was likely to find support at 1.5123, Friday’s low and resistance at 1.5261, the high of September 25. Research group Markit said its U.K. services purchasing managers’ index fell to 53.3 in September from a reading of 55.6 the previous month. Analysts had expected the index to rise to 56.0 last month.But demand for the dollar remained under pressure after the Labor Department reported on Friday that the U.S. economy added just 142,000 jobs last month, well below expectations of the 203,000 expected by economists.

EUR/USD
The dollar slipped lower against the euro and edged up against the yen on Monday, as expectations for a U.S. rate hike before the end of this year weakened following Friday’s downbeat U.S. jobs report. EUR/USD rose 0.25% to trade at 1.1239. The Labor Department reported on Friday that the U.S. economy added just 142,000 jobs last month, well below expectations of the 203,000 expected by economists.August’s reading was revised down to 135,000, from the initial reported figure of 173,000.Average hourly earnings were flat month-on-month and the labor force participation rate fell to just 62.4%, down from 62.6% in August. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.20% at 95.84.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5200 TARGET 1.5220 1.5250 SL 1.5170
  • SELL GBP/USD BELOW 1.5150 TARGET 1.5130 1.5100 SL 1.5180

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

6Oct
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 06 October 2015

MARKET UPDATES :

  • The Straits Times Index (STI) ended 58.1 points or 2.08% higher to 2851.25, taking the year-to-date performance to – 15.27%.
  • The top active stocks today were SingTel, which gained 2.81%, DBS, which gained 2.36%, UOB, which gained 1.64%, OCBC Bank, which gained 2.05% and CapitaLand, with a 2.49% advance.
  • The FTSE ST Mid Cap Index gained 1.45%, while the FTSE ST Small Cap Index rose 1.04%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 2.62%. The two biggest stocks of the Index – SingTel and StarHub – ended 2.81% higher and 1.16% higher respectively.
  • The under performing sector was the FTSE ST Industrials Index, which rose 0.30%. Jardine Matheson Holdings shares rose 0.79% and Jardine Strategic Holdings declined 0.04%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : Spdr Gold Shares (+2.45%), Dbxt Ft China 25 Etf 10 (+2.12%), Sti Etf (+2.11%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas Reit (+2.15%), Capitamall Trust (+1.31%), Capitacom Trust (+2.27%)
  • The most active index warrants by value today were : HSI21800MBeCW151029 (+16.67%), HSI22800MBeCW151029 (+17.86%), HSI21600MBePW151029 (-23.43%)
  • The most active stock warrants by value today were : DBS MB eCW160128 (unchanged), UOB MB eCW160201 (+11.20%), CapitalaMBeCW160902 (+11.77%)

STOCK RECOMMENDATION :

  • BUY QT VASCULAR ABOVE 0.155 TARGET 0.160 170 SL 0.145

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

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