Daily Archives: May 3, 2016

3May

Comex Trading Signals and Market News – 03 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices gained 0.09 per cent on Monday as investors noted manufacturing data out of China at the weekend and looked ahead to a private estimate tomorrow. On Tuesday comes the closely-watched Caixin manufacturing PMI for April which last came in at 49.7.Markets in China are shut on Monday for a holiday. China April CFLP manufacturing index came in at 50.1 below expectations.
  • Crude oil prices fell by 0.30 per cent on Monday as rising production in the Middle East outweighed a decline in US output and a recent slide in the dollar which has been supporting crude. The rising output from the Organization of the Petroleum Exporting Countries (OPEC) was outweighing supportive factors such as a decline in US output. Markets in China are shut on Monday for a holiday. China April CFLP manuacturing index came in at 50.1 below expectations.
  • Lead prices fell by 0.37 per cent on Monday due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 75 metric tonnes to 175100 metric tonnes as on May 2 2016.At the MCX Lead futures for the May 2016 contract is trading at Rs 119.70 per kg down by 0.37 per cent after opening at Rs 120.45 against a previous close of Rs 120.15.

ECONOMY NEWS :

  • Bank of Japan Governor Haruhiko Kuroda has a big problem. His radical monetary policy experiment has always been aimed at convincing the public that an end to deflation is near – and right now the public aren’t listening. Concerns that a fresh burst of stimulus would be wasted on households and businesses so far unconvinced by the bank’s foray into negative rates, on top of huge money printing, were among the key factors behind last week’s decision to hold off from further easing, according to sources familiar with BOJ thinking.
  • Asian factories barely grew in April and those in the euro zone did little better despite heavy discounting, setting a sluggish tone on Monday for the global economy in the second quarter. Japanese manufacturing activity shrank last month at the fastest pace in more than three years as major earthquakes disrupted production, while the former bright spot of India sank to a four-month trough and growth in China was all but flat.
  • China’s manufacturing purchasing managers’ index came in at 50.1 in April, the report published by the National Bureau of Statistics and the China Federation of Logistics and Purchasing revealed, official survey results showed  Sunday. A reading above 50 indicates expansion but it was below March’s score of 50.2 and the expected level of 50.3. The non-manufacturing PMI that reflects conditions at services and construction sectors, dropped to 53.5 from 53.8 a month ago.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1302 TGT 1307/1315 SL BELOW 1295
  • SELL GOLD BELOW 1291.50 TGT 1286/1278 SL ABOVE 1299

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

3May
forex-market-hours

IForex Market Trading Signals and News – 03 May 2016

MARKET UPDATES :

  • Forex – Aussie little changed, kiwi rises vs. weaker greenback
  • Forex -Yen rises to fresh 18-month highs against weaker dollar
  • Forex-Australia, NZ dollars regain some ground on USD and yen

EUR/USD
EUR/USD is quiet on Monday, after posting excellent gains on Friday. The pair is trading at 1.1480 in the European session. On the release front, German and Eurozone Manufacturing PMIs both showed slight expansion. In the US, today’s highlight is ISM Manufacturing PMI. The estimate stands at 51.6 points.The week started off on a positive note, as the April German and Eurozone Manufacturing PMIs both pointed to slight growth in the manufacturing sector. German Manufacturing PMI climbed to 51.8 points, close to the forecast of 51.9 points. The Eurozone release was almost unchanged at 51.7 points, beating the estimate of 51.5 points. German key releases were soft last week, raising concerns about the strength of Europe’s largest economy. Preliminary CPI came in at -0.2%, its first decline in four months. Retail Sales disappointed, posting a sharp decline of 1.1%. The markets had expected a gain of 0.3%.

GBP/USD
The sterling is now decoupling from the rest of the risk-associated assets on Monday, lifting GBP/USD to daily highs in the 1.4630 area.Spot is advancing for the third session in a row today, looking to regain last Friday’s peaks in the 1.4670 area, while the softer tone around the US dollar continues to be the main source of the up move.In addition, better-than-expected UK data plus decreasing fears on a ‘Brexit’ scenario have lent extra support to GBP, helping the pair to post its fourth straight week with gains after April’s troughs in the 1.40 neighbourhood. As of writing the pair is up 0.21% at 1.4634 and a break above 1.4671 (high Apr.29) would open the door to 1.4865 (200-day sma) and finally 1.4948 (high Dec.25). On the flip side, the next support lines up at 1.4392 (100-day sma) ahead of 1.4358 (20-day sma) and then 1.4298.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4640 TGT 1.4660 1.14690 SL 1.4610
  • SELL GBP/USD BELOW 1.4604 TGT 1.4584 1.4554 SL 1.4634

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

3May
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 03 May 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 23.78 points or 0.83% lower to 2838.52, taking the year-to-date performance to -1.53%.
  • The top active stocks today were DBS, which declined 1.04%, OCBC Bank, which declined 1.46%, SingTel, which closed unchanged, UOB, which declined 1.33% and Wilmar Intl, with a 1.37% advance.
  • The FTSE ST Mid Cap Index declined 0.36%, while the FTSE ST Small Cap Index declined 0.39%.
  • The outperforming sectors today were represented by the FTSE ST Basic Materials Index, which rose 0.84%. The two biggest stocks of the Index – Midas Holdings and Geo Energy Resources – ended 1.79% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 1.60%. Keppel Corp shares declined 2.00% and Sembcorp Industries declined 1.03%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+1.40%), iShares USD Asia HY Bond ETF (unchanged), iShares MSCI India 100 (-1.76%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-0.41%), Capitamall Trust (-1.90%), Mapletree GCC Tr (+0.98%)
  • The most active index warrants by value today were : HSI20800UBeCW160629 (-17.19%), HSI20000MBePW160629 (+15.94%), HSI21000MBePW160530 (+20.00%)
  • The most active stock warrants by value today were : OCBC Bk MB eCW161003 (-11.11%), DBS MB ePW161003 (+4.51%), UOB MB eCW160704 (-17.02%)

STOCK RECOMMENDATION :

  • BUY PARKSON RETAIL ABOVE 0.230 TGT 0.240 0.250 SL 0.220

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

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