Daily Archives: April 8, 2016

8Apr

Comex Trading Signals and Market News – 08 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices rose by 0.31 per cent on Thursday after Fed minutes showed tension on rate hike views. The latest Federal Open Market Committee meeting showed Kansas City Fed President Esther George had some support of her view another rate hike was appropriate from a couple non-voting members.
  • Crude oil futures jumped in the domestic market during noon trade on Thursday as investors cheered a surprise drop in US crude stockpiles from an 86-year high easing fears over a global supply glut.The EIA reported that US crude oil supplies fell by 4.9 million barrels to 529. 9 million barrels in the week ended April 1 2016 whilst production declined by 14000 barrels a day to 9.01 million barrels per day the lowest since November 2014.
  • Copper prices traded steady after hitting a one-month low of 2.1305 earlier this week. The Fed’s meeting minutes led to moderate weakness in the USD, which in turn underpinned metals prices. Shanghai Futures Exchange copper was steady at 36,700 yuan ($5,668) a tonne.

ECONOMY NEWS :

  • The Reserve Bank of India Governor Raghuram Rajan said on Thursday that the health of the country’s lenders needed to be improved, adding the central bank was taking steps in that direction.Indian banks, which have about $120 billion in bad and troubled loans, are set to reveal more sour debt in the coming weeks after a clean-up ordered by the central bank.
  • The Reserve Bank of New Zealand’s deputy governor said on Thursday that the country’s strong labour supply was a factor in keeping monetary policy accommodative.”Stronger than expected labour supply, and greater than expected slack, has been a factor in our assessment that it has been appropriate to keep monetary policy accommodative,” said Geoff Bascand at a speech in Dunedin.
  • Growth in world trade will come to 2.8 percent this year, lower than a previous forecast of 3.9 percent, the World Trade Organization forecast on Thursday.It expects trade to rise to 3.6 percent in 2017, breaking through 3.0 percent for the first time in six years. Its forecasts are based on economic growth of 2.4 percent in 2016 and 2.7 percent in 2017.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1244 TARGET 1249 1255 SL 1238
  • SELL GOLD BELOW 1234 TARGET 1229 1223 SL 1240

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

8Apr
forex-market-hours

IForex Market Trading Signals and News – 08 April 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar edges lower on Fed meeting minutes
  • Forex -Aussie, kiwi rise vs. greenback on Fed meeting minutes
  • Forex- Yen gains sharply as Kuroda remarks on economic outlook

EUR/USD
The euro pared back the day’s gains against the dollar on Thursday after senior European Central Bank officials reiterated that they are prepared to inject more stimulus if necessary. EUR/USD slid 0.18% to 1.1381, off the five-and-a-half month highs of 1.1454 set overnight. The euro was at one-month lows against the broadly stronger yen, with EUR/JPY dropping 1.46% to 123.28. The ECB’s chief economist, Peter Praet, said the bank was prepared to do more if the euro zone economy was hit by fresh shocks.“If further adverse shocks were to materialize, our measures could be recalibrated once more commensurate with the strength of the headwind,” he said.The comments were echoed by ECB Vice-President Vito Constancio who said in a speech to the European Parliament that the bank will continue to do whatever it takes to pursue its price stability objective.

GBP/USD
GBPUSD: With the pair continuing to decline, more weakness is envisaged towards its key support located at 1.4052 level. On the downside, support lies at the 1.4000 level where a break will turn attention to the 1.3950 level. Further down, support lies at the 1.3900 level. Below here will set the stage for more weakness towards the 1.3850 level. Conversely, resistance stands at the 1.4150 levels with a turn above here allowing more strength to build up towards the 1.4200 level. Further out, resistance resides at the 1.4250 level followed by the 1.4300 level. On the whole, GBPUSD remains biased to the downside on more weakness.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4090TARGET 1.4060 1.4000 SL 1.4120
  • SELL GBP/USD BELOW 1.4015 TARGET 1.3995 1.3965 SL 1.4045

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

8Apr
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 08 April 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 0.37 points or 0.01% higher to 2811.62, taking the year-to-date performance to -2.47%.
  • The top active stocks today were SingTel, which declined 1.33%, DBS, which gained 0.40%, SingPost, which declined 3.39%, Keppel Corp, which gained 1.24% and OCBC Bank, with a 1.03% advance.
  • The FTSE ST Mid Cap Index declined 0.22%, while the FTSE ST Small Cap Index declined 0.02%.
  • The outperforming sectors today were represented by the FTSE ST Industrials Index, which rose 0.89%. The two biggest stocks of the Index – Jardine Matheson Holdings and Jardine Strategic Holdings – ended 4.09% higher and 2.64% higher respectively.
  • The underperforming sector was the FTSE ST Telecommunications Index, which slipped 1.06%. SingTel shares declined 1.33% and Star-Hub declined 1.20%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+0.38%), DBXT MSCI Asia Ex Japan ETF 10 (unchanged), STI ETF (-0.36%).
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitacom Trust (-2.07%), Ascendas REIT (-0.84%), Capitamall Trust (-1.42%).
  • The most active index warrants by value today were : HSI20800UBeCW160629 (unchanged), HSI20600MBePW160428 (-8.67%), HSI20200MBeCW160428 (unchanged).
  • The most active stock warrants by value today were : DBS MB eCW160711 (unchanged), DBS MB ePW161003 (-1.19%), KepCorp MBeCW161212 (+6.38%).

STOCK RECOMMENDATION :

  • BUY ASCOTT REIT ABOVE 1.105 TARGET 1.135 1.170 SL 1.060

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

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