Daily Archives: November 2, 2015

2Nov

Comex Trading Signals and Market News – 02 November 2015

INTERNATIONAL COMMODITY NEWS :

Crude futures dropped in Asian trading on Friday after the release of a report showing that U.S. economic growth had slowed sharply, reinforcing concerns about sluggish demand in a world awash with oil.U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory glut, data showed. Both of the main crude benchmarks are on track to post their first weekly gains in three weeks, but with oil still being added to inventories, prices are likely to be range bound in the coming weeks, traders and analysts said.U.S. crude was down 45 cents at $45.89 a barrel at 0739 GMT. The benchmark is on track to post a gain of 2.4 percent this week.Brent crude fell 32 cents to $48.48 a barrel and is heading for an increase of 1 percent this week.

Gold prices edged higher in European morning hours on Friday, helped by a softer U.S. dollar, but the precious metal remained close to a three-week low amid fresh indications the Federal Reserve could raise interest rates before the end of the year.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.17% at $1,149.40. The December contract ended Thursday’s session 2.45% lower at $1,147.30 an ounce.Futures were likely to find support at $1,138.70, the low from October 8 and resistance at $1,162.00, Thursday’s high. The dollar came under pressure after the Commerce Department reported on Thursday that U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%.

• U.S. natural gas futures fell to a fresh three-year low on Friday as the market focused on warm weather forecasts at the start of the winter heating season in November. March-April is usually the widest month-to-month spread of the year since it marks the end of the winter heating season and the start of spring, making it one of the most widely traded gas spreads. It is known as the widow-maker because it can quickly turn against speculators with changing winter forecasts. Both the U.S. and European weather models called for continued well above normal temperatures over the next two weeks, expected to keep residential, commercial and industrial heating demand lower than normal during that time, according to Thomson Reuters Analytics.

Copper fell on Friday, retreating from a one-week high after a strong dollar offset optimism stemming from top metals consumer China cutting interest rates to boost its slowing economy. Prices on the London Metal Exchange had surged after China’s central bank cut interest rates for the sixth time in less than a year and again lowered the amount of cash that banks must hold as reserves. A continued decline in LME copper stocks, which are at their lowest levels since February, helped support prices, as did news of more production cuts. Freeport-McMoRan said on Thursday it would cut copper output further as it posted a bigger-than-expected quarterly loss.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1150 TARGET 1155 1161 SL 1144
  • SELL GOLD BELOW 1142 TARGET 1137 1131 SL 1147

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

2Nov
forex-trading3

IForex Market Trading Signals and News – 02 November 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -Yen strengthens after BoJ declines to ease policy further
  • FOREX -Dollar steadies vs yen as Japan budget report lifts risk appetite
  • FOREX -Dollar remains broadly lower after U.S. economic reports

EUR/USD
The euro climbed against the U.S. dollar on Friday, as upbeat euro zone data inflation and unemployment data. lent support, while concerns over the strength of the U.S. economy dampened demand for the greenback. EUR/USD hit 1.1072 during U.S. morning trade, the pair’s highest since October 28; the pair subsequently consolidated at 1.1054, advancing 0.70%. The pair was likely to find support at 1.0902, Thursday’s low and resistance at 1.1095, the high of October 28. Eurostat, the statistical body of the European Union, reported on Friday that the annual rate of inflation was flat in September, compared to expectations for a 0.1% uptick. Euro zone inflation fell 0.1% in August. It was the first time in six months that the region saw declining inflation.

GBP/USD
The pound edged higher against the U.S. dollar on Friday, as sentiment on the greenback remained vulnerable. Following the previous session’s downbeat U.S. data and as investors eyed the release of additional reports later in the day. GBP/USD hit 1.5359 during European morning trade, the pair’s highest since October 27; the pair subsequently consolidated at 1.5330, adding 0.13%. Cable was likely to find support at 1.5240, Thursday’s low and resistance at 1.5382, the high of October 16.The dollar came under pressure after the Commerce Department reported on Thursday that U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5370 TARGET 1.5390 1.5430 SL 1.5340
  • SELL GBP/USD BELOW 1.5300 TARGET 1.5280 1.5250 SL 1.5340

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

2Nov
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 02 November 2015

MARKET UPDATES :

  • The Straits Times Index (STI) ended 2.68 points or 0.09% lower to 2998.83, taking the year-to-date performance to -10.89%.
  • The top active stocks today were UOB, which gained 1.45%, OCBC Bank, which declined 0.55%, DBS, which declined 0.35%, Singtel, which gained 0.25% and DairyFarm USD, with a 1.07% advance.
  • The FTSE ST Mid Cap Index declined 0.52%, while the FTSE ST Small Cap Index declined 0.61%.
  • The outperforming sectors today were represented by the FTSE ST Industrials Index, which rose 1.36%. The two biggest stocks of the Index – Jardine Matheson Holdings and Jardine Strategic Holdings – ended 2.92% higher and 2.79% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 3.96%. Silverlake Axis shares declined 7.26% and CSE Globalunchanged.
  • The three most active Exchange Traded Funds (ETFs) by value today were : Ishares Usd Asia Hy Bond ETF (+1.70%), Ishares Usd Asia Bond ETF (+0.58%),IS MSCI India (-0.42%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-1.24%), CapitaLand Mall Trust (-0.25%), Mapletree Ind Tr (unchanged)
  • The most active index warrants by value today were : HSI22000MBePW151127 (+3.90%), HSI22400MBePW151230 (+4.49%), HSI23400MBeCW151127 (-11.36%)
  • The most active stock warrants by value today were : DBS MB eCW160128 (-4.76%), UOB MB eCW160111 (+15.52%), OCBC Bk MBeCW160406 (-6.06%)

STOCK RECOMMENDATION :

  • BUY GEO ENERGY ABOVE 0.145 TARGET 0.150 0.160 SL 0.138

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