Daily Archives: March 17, 2016


Comex Trading Signals and Market News – 17 March 2016


  • Oil prices rallied to the highest levels of the session in European trade on Wednesday, after OPEC and non OPEC producers agreed to hold their next meeting on a plan to freeze output levels in Doha, Qatar on April 17, even without the attendance of Iran.On the ICE Futures Exchange in London, Brent oil for May delivery rose 52 cents, or 1.34%, to $39.26 by 09:05GMT, or 5:05AM ET.
  • Gold futures struggled near the prior session’s two-week low in European trade on Wednesday, as investors looked ahead to the Federal Reserve’s decision due later in the day for fresh guidance on the future path of U.S. interest rates.Gold for April delivery on the Comex division of the New York Mercantile Exchange inched up $1.30, or 0.11%, to trade at $1,232.30 a troy ounce by 07:55GMT, or 3:55AM ET.
  • Copper futures advanced during late morning trade in the domestic market on Wednesday after the Chinese Premier Li Keqiang stressed that policymakers will undertake innovative measures to keep economic growth in the world’s biggest metals consuming nation on track bolstering demand outlook.Keqiang assured at the end of annual policy meetings that China will find new drivers if growth drops out of its normal range.


  • China’s Premier Li Keqiang defended the government’s economic policies on Wednesday, vowing there would be no mass layoffs and no hard landing for the world’s second-largest economy even as the government presses ahead with painful reforms.While conceding that downward pressure is increasing, Li and other top officials at the annual meeting of parliament this month have repeatedly tried to reassure jittery financial markets and China’s major trading partners that Beijing is able to manage the slowing economy.
  • Australia on Wednesday walked back from a planned tax hike on foreign travelers who work in the country, following concerns from farmers that their supply of “backpacker labor” at harvest times may dry up and undermine Australia’s ambitions of being Asia’s delicatessen.Australian fruit exports are set to hit a record A$2.27 billion ($1.69 billion) next season, up 10 percent from the previous 2014/15 season, and backpackers on working holiday visas make up the bulk of fruit pickers during harvests.
  • Japanese blue-chip firms on Wednesday announced wage hikes far below last year’s increases, a blow to “Abenomics ” stimulus policy at a time fears of a deepening global slowdown and jittery markets are denting business sentiment. Bellwether Toyota Motor Corp (T:7203) and some other leading manufacturers agreed to raise base pay for a third year in a row, under public pressure from Prime Minister Shinzo Abe.


  • BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
  • SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231

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IForex Market Trading Signals and News – 17 March 2016


  • Forex -Dollar rises vs. rivals ahead of U.S. data, Fed
  • Forex -Dollar pushes higher ahead of Fed meeting
  • Forex-Aussie slips lower, kiwi holds steady ahead of Fed statement

The EUR to USD pair continues to drift lower, yet it still retains the majority of the gains registered following the ECB meeting from last week.Momentum indicators in a number of time frames are therefore still pointing higher and advocating for more gains.On the fundamental front guidance will be provided by the US Federal Reserve’s policy meeting due on Wednesday. With many arguing the ECB is at the limit of its abilities movement in EUR/USD could now be in the hands of US decision makers.Nevertheless, the charts reflect the technical structure of the markets and therefore hold real-life implications for future direction in the exchange rate. That is why we sound out the latest views of the leading technical analysts with the view of decoding where the most likely steps in the EUR to USD will be.As always views are mixed, but these views allow the reader to take on board different opinions and arrive at independent opinions.

The pound was at two-week lows against the dollar on Wednesday after as investors awaited the U.K. annual budget later in the day, but losses were held in check after the latest employment report showed a pick-up in wage growth.GB/USD was down 0.36% at 1.4100 from around 1.4124 ahead of the release of the jobs data.The Office for National Statistics reported that Britain’s unemployment rate remained steady at a 10-year low of 5.1%, in line with forecasts. The claimant count, which measures the number of people receiving unemployment benefits, fell by 18,000 in February to 717,000.Wage growth picked up slightly, with earnings, including bonuses, up 2.1% from a year earlier in the three months to January from 1.9% in the three months to December.


  • BUY GBP/USD ABOVE 1.4150 TARGET 1.4170 1.4200 SL 1.4120
  • SELL GBP/USD BELOW 1.4080 TAGET 1.4060 1.4030 SL 1.4110

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Financial Sgx Singapore Stock Market Trading Picks And News – 17 March 2016


  • The Straits Times Index (STI) ended 4.77 points or 0.17% higher to 2844.21, taking the year-to-date performance to -1.34%.
  • The top active stocks today were SingTel, which declined 0.52%, DBS, which gained closed unchanged, OCBC Bank, which gained 0.68%, UOB, which gained 0.32% and Keppel Corp, with a 0.84% advance.
  • The FTSE ST Mid Cap Index gained 0.44%, while the FTSE ST Small Cap Index rose 0.21%.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 0.86%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 0.84% higher and 1.67% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 3.10%. Silverlake Axis shares gained 0.86% and CSE Global gained 2.15%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : IS MSCI India 100 (-0.31%), SPDR Gold Shares (-0.36%), DBXT Euro Stoxx 50 ETF 10 (+0.73%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+0.83%), Capitamall Trust (-0.47%), Ascott REIT (unchanged)
  • The most active index warrants by value today were : HSI19800MBeCW160330 (-1.46%), HSI19600MBePW160428 (-2.02%), HSI21000MBeCW160428 (-2.22%)
  • The most active stock warrants by value today were : UOB MB eCW160705 (unchanged), KepCorp MBeCW161212 (+1.61%), DBS MB eCW160711 (unchanged)


  • BUY JAPFA ABOVE 0.600 TARGET 0.630 0.670 SL 0.540

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