Daily Archives: February 29, 2016

29Feb
PalmOil

Oil prices rise in early Asian trade Monday, signs mount market bottoming out

SINGAPORE :

  • Crude futures rose in early trading on Monday after gaining over 15 percent last week, with some indicators pointing to the possibility the market is showing signs of bottoming out.
  • International Brent futures had climbed around half a dollar, or 1.4 percent, from their last close to $35.58 per barrel at 8.41 p.m. ET on Monday.
  • U.S. West Texas Intermediate crude futures were up 18 cents at $32.96 a barrel after gaining over 15 percent the previous week.
  • Analysts said that first signs of a strengthening market outlook were appearing after a 20-month rout that has seen prices fall by 70 percent.
  • “The U.S. crude market also seems to have passed the worst point and crude runs should start creeping higher taking pressure off inventory levels. The latest EIA data on U.S. production is also supportive as it indicates that the low prices are finally having an impact,” said Richard Gorry, director of JBC Energy Asia.

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29Feb
sgx2

SGX : Opening market update for today

Market Updates :

  • Singapore share prices opened higher on Monday with the Straits Times Index up 10.86 points to 2,660.24 as at 9.01 am. US West Texas Intermediate crude futures for April delivery were up 0.27 per cent at US$32.87 a barrel. The US markets mostly closed lower on Friday.
  • Top gainers in early morning trade included Jardine C&C and UOB.
  • Some 109 million shares worth S$152 million changed hands, with gainers outnumbering losers 84 to 51.

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

29Feb

Comex Trading Signals and Market News – 29 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold fell sharply on Friday after the Federal Reserve’s preferred gauge for inflation rose by its highest annual percentage in more than three years, augmenting hawkish sentiments for accelerated normalization in the U.S. central bank’s first tightening cycle in nearly a decade.On the Comex division of the New York Mercantile Exchange, gold for April delivery traded in a broad range between $1,212.10 and $1,240.90 an ounce before settling at $1,220.20, down 18.60 or 1.51% on the session.
  • Silver futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the precious metal as San Francisco Fed President John Williams stressed that the Fed should follow a broad policy of gradual interest rate tightening with the number of rate hikes in the current monetary tightening cycle dependent on inflation and other economic data dimming the lure for Silver as a store of value.The focus today will be on the revised US Q4 GDP estimates and consumer spending data.
  • Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal as weak US economic data signaled concerns over copper’s demand outlook.Manufacturing activity in Kansas City shrank in February with the manufacturing gauge falling to -12 this month the lowest since 2009 from -9 in January as a reading below 0 signals contraction.

ECONOMY NEWS :

  • The Federal Reserve, facing the delicate task of explaining how it will forge ahead with rate hikes in a stormy world economy, is wary of again tying its actions to calendar dates but officials want to keep “forward guidance” as an emergency tool. San Francisco Fed President John Williams said on Friday such time-based guidance can be “like a sledgehammer … a powerful tool when it’s needed,” while Fed Vice Chairman Stanley Fischer said it is as close as the U.S. entral bank can get to a cohesive forecast.
  • EU and U.S. negotiators seeking a transatlantic free trade agreement expressed cautious optimism on Friday that they could resolve most issues by July, which could lead to a conclusion of a deal by the end of the year.The two sides are trying to agree on the Transatlantic Trade and Investment Partnership (TTIP), which supporters say could boost each economy by some $100 billion at a time of slowing growth in China and emerging markets.
  • China sought to restore confidence in its economy as financial leaders from G20 nations gathered in Shanghai on Friday, but Germany all but ruled out any coordinated stimulus to counter a deepening global chill.While the health of the world’s second-largest economy, which hosts the G20 presidency this year, is a key talking point around the two-day summit, the threat of the UK leaving the European Union and its political and economic implications have also surfaced as concerns among participants in the meeting.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1225 TARGET 1230 1237 SL 1218
  • SELL GOLD BELOW 1217 TARGET 1212 1204 SL 1222

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

29Feb

IForex Market Trading Signals and News – 29 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – USD/CAD slips to 2-1/2 month lows amid rising oil prices
  • Forex – Dollar extends gains to fresh 3-week peak vs. rivals
  • Forex – Dollar moves higher on upbeat U.S. GDP data

EUR/USD
The euro dropped to one-month lows against the U.S. dollar on Friday, as strong U.S. economic reports lent broad support to the greenback.EUR/USD hit 1.0944 during U.S. morning trade, the pair’s lowest since February 3; the pair subsequently consolidated at 1.0958, declining 0.54%.The pair was likely to find support at 1.0901, the low of February 3 and resistance at 1.1137, the high of February 22.Preliminary data showed that U.S. gross domestic product grew 1.0% in the fourth quarter, compared to a previously reported 0.7% growth rate and expectations for a 0.4% rate.Data also showed that personal spending rose 0.5% in January, beating expectations for a 0.3% gain, after an increase of 0.1% in December.

GBP/USD
The pound edged higher against the U.S. dollar on Friday, as sentiment on the greenback weakened ahead of a string of key U.S. economic reports and as concerns over a potential British exit from the European Union slightly eased. GBP/USD hit 1.4020 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.4014, rising 0.37%.Cable was likely to find support at 1.3875, Wednesday’s low and a seven-year low and resistance at 1.4155, Tuesday’s high.Investors were eyeing the release of U.S. economic growth, personal spending and consumer sentiment data, due later Friday, for further indications on the strength of the economy and potential U.S. rate hikes this year. The dollar had found support after data showed that U.S. durable goods orders rose far more-than-expected last month.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3880 TARGET 1.4000 1.4040 SL 1.3840
  • SELL GBP/USD BELOW 1.3830 TARGET 1.3810 1.3760 SL 1.3860

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

29Feb
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 29 February 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 45.01 points or 1.73% higher to 2648.41, taking the year-to-date performance to -8.13%.
  • The top active stocks today were JMH USD, which gained closed unchanged, DBS, which gained 1.80%, SingTel, which gained 1.65%, UOB, which gained 1.43% and OCBC Bank, with a 2.30% advance.
  • The FTSE ST Mid Cap Index gained 0.93%, while the FTSE ST Small Cap Index rose 0.56%.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 3.55%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 3.00% higher and 5.53% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 0.64%. Silverlake Axis shares remained unchanged and CSE Global gained 5.68%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-0.57%), STI ETF(+1.92%),DBXT MSCI China Trn ETF10 (+1.71%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+2.37%), Ascendas REIT (+2.13%), Capitacom Trust (+1.09%)
  • The most active index warrants by value today were : HSI19800MBeCW160330 (+46.27%), HSI18400MBePW160330 (-31.62%), HSI18000MBePW160428 (-21.97%)
  • The most active stock warrants by value today were : DBS MB eCW161004 (+7.03%), KepCorp MBeCW161212 (+10.81%), UOB MB eCW160711 (+8.20%).

STOCK RECOMMENDATION :

  • BUY QT VASCULAR ABOVE 0.120 TARGET 0.125 0.135 SL 0.114

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

 

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