Daily Archives: November 17, 2015

17Nov
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IForex Market Trading Signals and News – 17 November 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -Euro falls to 6-month lows after Paris attacks
  • FOREX -NZD/USD almost unchanged in late trade
  • FOREX -Aussie slips lower vs. broadly stronger greenback

EUR/USD
The EUR/USD pair trades -0.46% lower at 1.0724, easing-off fresh session highs reached at 1.0759. The main currency pair bought back the opening dip, although failed to extend further and slipped back below the daily R1 placed at 1.0734 levels as markets favour the US dollar amid looming uncertainties surrounding the Euro zone following the weekend’s terror acts on Paris.Moreover, the European indices are attempting recovery from steep losses seen at open, which further reduces the demand for the euro as a safe-haven. The German benchmark, the DAX turned positive and trades 0.10% higher, while the UK’s FTSE gains 0.41% and the Euro Stoxx 50 advances 0.20%. Markets now await the Euro zone final CPI data due later shortly for fresh incentives while the main event for this week remains the FOMC minutes.

GBP/USD
The GBP/USD pair trades -0.21% lower at 1.5205, recovering from session lows struck at 1.5182. The cable keeps losses this session as the greenback remained broadly higher, mainly benefiting from renewed sell-off in EUR/USD. The major halted its downslide near Friday’s lows and recovered slightly on improved risk-sentiment as the European stocks switched to gains ahead of the Euro zone final CPI data.However, any recovery in the GBP/USD pair appears short-lived as the overall bearish sentiment persists ahead of the key inflation report from the UK and the US due to be released tomorrow. The pair has an immediate resistance at 1.5263/66 (20-DMA/ Nov 13 high), above which 1.5292/1.5300 (50-DMA/ round number) would be tested. On the flip side, support is seen at 1.5185/82 (Nov 13 low/ Daily low) below which it could extend losses to 1.5150 (psychological levels).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5235 TARGET 1.5265 1.5300 SL 1.5200
  • SELL GBP/USD BELOW 1.5185 TARGET 1.5155 1.5100 SL 1.5220

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

17Nov

Comex Trading Signals and Market News – 17 November 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold prices rallied sharply on Monday, as markets reopened following a series of suicide bombings and shootings in Paris on Friday night that left more than 130 people dead.The attacks led France to launch air strikes in Syria against the Islamic State (ISIS), which claimed responsibility for the attacks.
  • Oil prices pushed higher on Monday, as France launched air strikes in Syriaagainst the Islamic State (ISIS) following a series of coordinated attacks in Paris on Friday that killed more than 130 people.Later Monday, political leaders were expected to discuss ways to escalate the war against terrorism and deal with the migration crisis at the annual summit of the Group of 20 nations (G20) in Turkey.
  • Copper prices fell to the lowest level since July 2009 on Monday, as appetite for riskier assets took a hit following the weekend attacks in Paris that left 132 dead. Copper for December delivery on the Comex division of the New York Mercantile Exchange shed 2.0 cents, or 0.93%, to trade at $2.148 a pound during morning hours in London.

ECONOMY NEWS :

  • Japan entered a recession in the third quarter largely due to weak corporate investment. Gross domestic product contracted by an annualized 0.8% in the third quarter, data published by the Cabinet Office revealed today means economy face recession which is defined as two consecutive quarters of contraction in GDP.
  • India’s economic growth was expected to exceed 7.3 percent in the current fiscal year and go higher still in the next one, the country’s finance minister said on Monday.”(The) Indian economy is expected to grow better than 7.3 percent – the level achieved last fiscal year – and at an even higher level next year,” Arun Jaitley told an investment forum in Dubai.
  • UK construction output declined 0.2 percent from August, when it tumbled 3.4 percent, revised from a 4.3 percent fall reported earlier, data from the Office for National Statistics Construction output decreased for a third straight month. Year-on-year, construction output decreased for a second straight month, down 1.6 percent in September, after a 0.6 percent fall in the previous month that was revised from a 1.3 percent decline.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1098 TAGRET 1107 1114 SL 1088
  • SELL GOLD BELOW 1088 TAGRET 1080 1070 SL 1099

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

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