Daily Archives: March 16, 2016

16Mar

Comex Trading Signals and Market News – 16 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Silver futures retreated during noon trade in the domestic market on Tuesday as investors and speculators stuck to a cautious stance ahead of the start of the two-day US Federal Reserve monetary policy meet in which the world’s top central bank may offer some cues over the path to raising interest rates further following a maiden rise in borrowing costs since 2006 in December.
  • Copper futures prices slipped by 0.34 per cent on Tuesday at the Multi Commodity Exchange (MCX) as traders trimmed their bets amid subdued demand from consuming industries at the spot market. The weak cues from global markets also weighed on market sentiments.
  • Crude oil prices dropped by 0.84 per cent on Tuesday ahead of industry estimates of US stockpiles and continued back-and-forth over prospects for an output freeze by key producers. Ahead the American Petroleum Institute will detail estimates of crude oil and refined product stockpiles as of last week. On Wednesday more closely-watched figures from the US Department of Energy are due.

ECONOMY NEWS :

  • China’s central bank is studying the introduction of a tax on currency transactions in an effort to curb speculation in the foreign exchange markets, Bloomberg reported on Tuesday citing unnamed sources. The rate of the so-called Tobin tax could be kept at zero initially while the new rule awaits central government approval, Bloomberg reported.
  • Indonesia’s growth rate will modestly accelerate in 2016 after slowing for several years amid higher public investment spending and improved sentiment towards reforms in Southeast Asia’s largest economy, the International Monetary Fund said on Monday.In its annual policy review, the IMF forecast Indonesia’s 2016 real gross domestic product growth at 4.9 percent, up from 4.7 percent in 2015 and 5.0 percent in 2014.
  • Australia’s Prime Minister Malcolm Turnbull said on Tuesday his government will this week introduce legislation to stimulate greater investment in startups – as Australia looks to transition its economy away from a slowing mining sector.Australia has proposed amended tax laws that would allow retail investors a 20 percent income tax rebate, capped at $200,000 per year on any startup investments, while a 10 percent tax rebate for venture capital investors in established start-ups wishing to expand will also be permitted.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1250 TARGET 1255 1261 SL 1244
  • SELL GOLD BELOW 1230 TARGET 1225 1219 SL 1236

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

16Mar
forex-trading3

IForex Market Trading Signals and News – 16 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Yen strengthens as BoJ holds, Fed meeting ahead
  • Forex -Dollar rises vs. rivals ahead of U.S. data, Fed
  • Forex-Aussie, kiwi move lower vs. greenback after RBA minutes

EUR/USD
EUR/USD continued to retreat from three-week highs from last Thursday, as market players awaited three major central banking meetings later this week.The currency pair traded between 1.1078 and 1.1153 in Monday’s session, before settling at 1.1103, down 0.0062 and 0.45% on the day. Last Thursday, the euro surged more than 1.6% against the dollar after the European Central Bank approved a wide range of stimulus measures aimed at bolstering economic growth throughout the euro zone. The euro has closed above 1.11 against its American counterpart in each of the last three sessions.EUR/USD likely gained support at 1.0709, the low from January 5 and was met with resistance at 1.1378, the high from Feb. 11.

GBP/USD
The Cable is set to rebound. The pair has just bumped into the lower boundary of the bullish channel, which is strengthened by the long-term moving average. GBP/USD is expected to bounce off of the support area at 1.4266/30 and then rally up to 1.4550. In the longer-term perspective, the price could try re-testing 1.4670, namely the February high. Alternatively, in case the bears keep pushing the rate lower despite the density of the demand zone, another potential line in the sand will be at 1.4190/70, represented by the weekly S1 and daily S3. The distribution between the longs and shorts, however, is against the rally, being that the Sterling is already overbought—65% of traders hold bullish positions.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4250 TARGET 1.4270 1.4290 SL 1.4210
  • SELL GBP/USD BELOW 1.4200 TAGET 1.4180 1.4150 SL 1.4230

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

16Mar
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 16 March 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 7.62 points or 0.27% lower to 2839.44, taking the year-to-date performance to -1.50%.
  • The top active stocks today were DBS, which declined 0.07%, SingTel, which gained 0.53%, Keppel Corp, which declined 1.82%, OCBC Bank, which declined 0.67% and UOB, with a 0.16% fall.
  • The FTSE ST Mid Cap Index declined 0.06%, while the FTSE ST Small Cap Index declined 0.43%.
  • The outperforming sectors today were represented by the FTSE ST Health Care Index, which rose 0.83%. The two biggest stocks of the Index – Raffles Medical Group and Biosensors International Group- ended 0.46% higher and 0.61% higher respectively.
  • The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 2.12%. Keppel Corp shares declined 1.82% and Sembcorp Industries declined 2.60%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : DBXT MSCI Asia Ex Japan ETF 10 (unchanged), DBXT MSCI Japan Trn ETF 10 (-0.97%), SPDR Gold Shares (-1.65%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascott REIT (-4.87%), Ascendas REIT (-0.42%), Capitamall Trust (unchanged)
  • The most active index warrants by value today were : HSI19600MBePW160428 (+6.45%), HSI19800MBeCW160330 (-10.46%), HSI21000MBeCW160428 (-9.09%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (-1.47%), KepCorp MBeCW161212 (-8.15%), UOB MB eCW160705 (-0.83%)

STOCK RECOMMENDATION :

  • BUY GLOBAL LOGI ABOVE 1.870 TARGET 1.900 1.950 SL 1.840

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