Daily Archives: April 11, 2016

11Apr
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Malaysia’s ringgit has done a stunning about-face this year

SINGAPORE :

  • The ringgit strengthened 10 percent against the U.S. dollar in January-March, its largest quarterly gain since 1973, Thomson Reuters data shows.
  • Still, few expect the ringgit to regain all the ground lost last year, as inflows may have peaked as Malaysian risk assets are starting to look pricey to investors and analysts.
  • Malaysia’s ringgit has done a stunning about-face this year, with surging capital inflows turning it into Asia’s best-performing currency from the region’s worst in 2015.
  • In 2015, the ringgit had its worst year since 1997, shedding 18.5 percent on the back on plunging oil prices, anticipated higher U.S. interest rates and a financial scandal at state-owned 1Malaysia Development Berhad (1MDB).
  • Driving the currency’s U-turn is the return of foreign investors, who have poured into Malaysian stocks and bonds on better crude oil prices, a surprisingly resilient economy and easier monetary policies from major central banks.
  • “The market is saying that this recovery in oil prices will be pretty positive for the Malaysian economy,” said Kelvin Tay, chief investment officer for southern Asia Pacific at UBS Wealth Management in Singapore.
  • In February, exports rose faster than expected. Sales of electrical and electronic products, the biggest item, increased 8.9 percent from a year earlier.

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

11Apr

Comex Trading Signals and Market News – 11 April 2016

INTERNATIONAL COMMODITY NEWS :

  • The price of Copper in the commodity market rose during noon trade as the metal is expected to be in shortage at the year-end as cooling investments mean no major mines are built this year. Copper is also considered to be a precious metal these days. Unlike the last few surplus years Copper is predicted to be below the inventory level which was supposed to be in accordance with the previous years.
  • Crude oil prices rose by 2.62 per cent on Friday on growing supply as investors look ahead to US rig count data from Baker Hughes and as prices were lifted by firm economic indicators from the United States and Germany which could support fuel demand.
  • Gold prices dropped on Friday on account of profit booking by traders as prices had earlier surged on expectations that any rate hikes by the Fed will be gradual based on comments from Federal Reserve Board Chair Janet Yellen. Prices had surged ahead of a public appearance by Federal Reserve chair Janet Yellen after the close of trading as investors digested dovish indications from the Fed’s March minutes that the US central bank will remain cautious with the timing of its next interest rate hike.

ECONOMY NEWS :

  • India’s power reforms are likely to put pressure on state governments’ budgets, potentially forcing them to cut spending needed to support economic growth, the Reserve Bank of India said in a report on Thursday. States could find themselves deviating from the path of fiscal consolidation as they take on an additional interest burden from debt tied to state utilities.
  • China’s securities regulator said on Friday it will revise risk-management rules for the brokerage industry, which now faces increasing risks in a more complex environment.The China Securities Regulatory Commission (CSRC) said on its official microblog it plans to change the way to calculate brokerages’ net capital and risk reserves, and improve supervision of leverage and liquidity.
  • The EU and IMF met in Brussels on Friday to agree on how to coax Greece into more economic reforms linked to its bailout and unlock more funds, with one EU official saying they hoped for a deal by Sunday. Mission chiefs of Greece’s European Union and International Monetary Fund lenders left Athens for consultations in Brussels, adjourning their bailout review for one day, a Greek government official said, but the European Commission stressed these were not emergency talks and said things were still going well.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1241 TGT 1250 1259 SL BELOW 1233
  • SELL GOLD BELOW 1230 TGT 1222 1216 SL ABOVE 1240

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

11Apr
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IForex Market Trading Signals and News – 11 April 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -GBP/USD trims gains after weak U.K. data
  • Forex -Dollar regains some ground but remains vulnerable
  • Forex- Yen weaker as Yellen repeats on track for gradual rate hikes

EUR/USD
EUR/USD fell mildly on Thursday, as the minutes from the European Central Bank’s March meeting depicted a broadly unified Governing Council on the prospects of implementing comprehensive easing measures as a means for boosting economic growth throughout the euro area. The currency pair traded in a tight range between 1.1338 and 1.1454, before closing at 1.1377, down 0.0022 or 0.19%. The euro closed above 1.13 versus the dollar for the seventh consecutive session. Over the last month of trading, the euro has surged more than 3.3% against its American counterpart amid strong indications that the Federal Reserve and the ECB will avoid even sharper divergences at least for the time being.EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.

GBP/USD
The pound trimmed gains against the U.S. dollar on Friday, after the release of downbeat U.K. economic reports, although sentiment on the greenback remained vulnerable due to the Federal Reserve’s cautious stance on rate hikes.GBP/USD pulled back from 1.4140, the session high, to hit 1.4098 during European morning trade, still up 0.32%.Cable was likely to find support at 1.4004, the low of April 6 and a one-month low and resistance at 1.4280, the high of April 5. The U.K. Office for National Statistics reported on Friday that manufacturing production declined by 1.1% in February, compared to expectations for a 0.2% fall. Manufacturing production rose by 0.5% in January, whose figure was revised from a previously estimated 0.7% gain. Year-on-year, manufacturing production dropped 1.8% in February, confounding expectations for a 0.7% fall.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4135 TARGET 1.4165 1.4195 SL 1.4105
  • SELL GBP/USD BELOW 1.4100 TARGET 1.4080 1.4050 SL 1.4130

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

11Apr
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 11 April 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 10.86 points or 0.39% lower to 2802.73, taking the year-to-date performance to -2.78%.
  • The top active stocks today were UOB, which declined 1.17%, DBS, which declined 0.60%, SingTel, which declined 0.27%, OCBC Bank, which declined 0.34% and CapitaLand, with a 1.00% fall.
  • The FTSE ST Mid Cap Index gained 0.08%, while the FTSE ST Small Cap Index rose 0.39%.
  • The outperforming sectors today were represented by the FTSE ST Basic Materials Index, which rose 2.10%. The two biggest stocks of the Index – Midas Holdings and Geo Energy Resources- ended 3.85% higher and 1.72% higher respectively.
  • The underperforming sector was the FTSE ST Consumer Goods Index, which slipped 0.86%. Wilmar International shares declined 0.59% and Thai Beverage declined 0.69%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : DBXT IBOXX Singapore ETF 5 (unchanged), STI ETF (unchanged), SPDR Gold Shares (+0.23%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+2.40%), Capitacom Trust (+1.06%), Ascendas REIT (+1.28%)
  • The most active index warrants by value today were : HSI20600MBePW160428 (-12.41%), HSI19600MBePW160428 (-18.52%), HSI20600MBeCW160530 (+8.41%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (-4.00%), DBS MB ePW161003 (unchanged), KepCorp MBeCW161101 (+1.91%).

STOCK RECOMMENDATION :

  • BUY CORDLIFE GRB ABOVE 1.415 TARGET 1.455 1.505 SL 1.350

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

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