Daily Archives: May 4, 2016

4May

Comex Trading Signals and Market News – 04 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices fell by 0.28 per cent on Tuesday as participants booked profits at prevailing higher levels even as the precious metal glittered overseas. Traders attributed the fall in gold futures to profit-booking by traders at existing levels. However a firm trend overseas on speculation that the US central bank will be slow to tighten policy further bolstering the metal’s appeal as the dollar sagged.
  • Crude oil prices rose by 0.07 per cent on Tuesday as the dollar slipped to an 18-month low against the yen potentially spurring fuel demand. Higher oil came on the back of a slumping dollar which makes purchases of dollar-traded fuel cheaper for countries using other currencies potentially spurring demand as well as strong investor interest in oil.
  • Lead prices fell by 0.75 per cent on Tuesday as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend. At the MCX Lead futures for the May 2016 contract is trading at Rs 118.60 per kg down by 0.75 per cent after opening at Rs 118.95 against a previous close of Rs 119.50.

ECONOMY NEWS :

  • UK factory activity contracted to 49.2 in April from revised 50.7 in March, survey data from Markit showed Tuesday. It was forecast to rise to 51.2 from March’s originally estimated value of 51. The reading fell below the critical no-change mark of 50.0 for the first time since March 2013. The headline index was dragged lower by lacklustre trends in production and new orders and declines in both employment and stocks of purchases.
  • The global economic growth will remain weak and is forecast to pick up only modestly by 3.1% in 2016 and 3.4%    in 2017, according to a latest economic forecast by the European Commission today. The outlook for global GDP growth has weakened further as major advanced economies also slowed, and expectations of a modest pick-up are subject to a high degree of uncertainty. It attributed the slow pace of the gross domestic product growth globally to a slowdown in emerging markets, saying growth outside the European Union fell last year to its slowest rate since 2009. The previous outlook for global growth stood at 3.3% for 2016 and 3.5% for next year.
  • The weakness of emerging economies could prove lasting as deep-seated structural problems rather than fleeting troubles are the root cause, posing a risk to growth even in advanced economies, the European Central Bank said on Tuesday. ECB President Mario Draghi has repeatedly cited subdued growth in emerging market as a drag on the euro area recovery and one of the reasons underpinning its ultra-easy policies.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1301 TARGET 1306 1312 SL BELOW 1296
  • SELL GOLD BELOW 1288 TARGET 1283 1277 SL ABOVE 1293

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

4May

IForex Market Trading Signals and News – 04 May 2016

MARKET UPDATES :

  • Forex -Aussie, kiwi move lower after RBA move, China PMI
  • Forex -Yen soars, Aussie slides after RBA cuts rates
  • Forex- Dollar hits 16-month lows vs. other majors

EUR/USD
The Euro continues to push higher against the US Dollar, with prices poised to deliver the seventh consecutive day of gains. If strength continues into the daily close, this would make for the longest winning streak since December 2013 for the single currency. Finishing the day above the 38.2% Fibonacci expansion at 1.1577 exposes the next upside barrier in the 1.1689 -1714 area, marked by the 50% level and the August 24 swing high. Alternatively, a reversal below the 1.1439-65 zone (April 12 high, 23.6% Fib) paves the way for a test of the 14.6% expansion at 1.1353.The long-term EUR/USD trend continues to look broadly bearish, painting recent gains as corrective. With that in mind, an actionable short trade setup is absent for the time being. As such, we will remain on the sidelines sand wait for signs of topping to offer a compelling selling opportunity.

GBP/USD
Sterling retreated from four-month highs against the dollar on Tuesday after data showing that U.K. manufacturing activity contracted for the first time in over three years in April, adding to gloom over the outlook for second quarter growth.GBP/USD was last at 1.4712, still up 0.26% for the day after rising as high as 1.4769 earlier, the most since January 4. The Markit U.K. manufacturing purchasing managers’ index fell to 49.2 in April from a downwardly revised reading of 50.7 in March.Economists had expected a more modest uptick to 51.2.It was the first time that the index fell below the 50.0 level separating growth from contraction since March 2013, highlighting concerns over a deepening slow-down in the sector at the start of the second quarter.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4700 TGT 1.4720 1.14750 SL 1.4670
  • SELL GBP/USD BELOW 1.4658 TGT 1.4638 1.4608 SL 1.4688

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

4May
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 04 May 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 27.32 points or 0.96% lower to 2811.2, taking the year-to-date performance to -2.48%.
  • The top active stocks today were DBS, which gained 0.46%, OCBC Bank, which declined 1.94%, SingTel, which declined 0.78%, UOB, which declined 1.08% and Wilmar Intl, with a 2.16% fall.
  • The FTSE ST Mid Cap Index declined 0.71%, while the FTSE ST Small Cap Index declined 0.20%.
  • 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 Riverstone Holdings – ended 1.06% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Consumer Goods Index, which slipped 2.05%. Wilmar International shares declined 2.16%and Thai Beverage declined 2.01%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : DBXT iBoxx Korea ETF 5 (unchanged), SPDR Gold Shares (+1.66%), STI ETF (-1.39%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (-0.97%)Ascendas REIT (unchanged), Capitacom Trust (-1.05%)
  • The most active index warrants by value today were : HSI20000MBePW160530 (+21.15%), HSI20000MBePW160629 (+13.75%), HSI21400MBeCW160530 (-37.31%)
  • The most active stock warrants by value today were : DBS MB eCW160705 (+2.86%), OCBC Bk MB eCW161003 (-14.29%), UOB MB eCW160705 (-14.82%)

STOCK RECOMMENDATION :

  • BUY BREAD TALK ABOVE 1.140 TGT 1.185 1.220 SL 1.085

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

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