Daily Archives: May 6, 2016


IForex Market Trading Signals and News – 06 May 2016


  • Forex -Dollar edges higher as fears over U.S. growth ease
  • Forex -Aussie and kiwi move higher, Australian data supports
  • Forex-Sterling steady as U.K. service sector output slows

The EUR/USD pair gradually extends to the downside during the mid-Asian trades, moving slightly away from 1.15 barrier, as sentiment remains mixed in Asia amid negative equities and a broadly muted US dollar. EUR/USD trades almost unchanged at fresh session lows of 1.1482, retreating from daily highs hit at 1.1494 earlier today. The main currency pair consolidates sharp declines witnessed over the past two trading session, and now meets fresh supply, taking the pair below hourly 100-SMA support located at 1.1486 levels.The EUR/USD pair stalled its minor- pullback from NY lows just ahead of 1.15 mark and resumed the downside consolidation thereon, now awaiting fresh impetus amid low volumes and minimal volatility as most major European arkets remain closed today in observance of Ascension Day.

The pound held steady against the dollar on Thursday despite data showing that U.K. service sector output grew at the slowest rate in over three years in April, adding to fears that the economy is losing momentum.GBP/USD was last at 1.4506 from around 1.4477 ahead of the data.The Markit U.K. services purchasing managers’ index fell to 52.3 in April from 53.7 the previous month.It was the lowest level since February 2013 and was below economists’ expectations for a reading of 53.5. The service sector was hit by uncertainty over the European Union membership referendum on June 23, which delayed new orders and by the introduction of the new living wage which has added to cost increases for employers.


  • BUY GBP/USD ABOVE1.4465 TGT 1.4485 1.4515 SL 1.4435
  • SELL GBPUSD AROUND 1.4519 -1.4517 TGT 1.4499 1.4469 SL 1.4549

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Comex Trading Signals and Market News – 06 May 2016


  • Gold futures were higher in European trade on Thursday, as market players looked ahead to a raft of speeches from Federal Reserve officials later in the day to judge the balance of opinion among policymakers on the prospect of further rate hikes.St. Louis Fed President James Bullard is due to speak at 15:30GMT, or 11:30AM ET, at Santa Barbara County’s Economic Summit.
  • A huge wildfire near Canada’s oil sands region and escalating tensions in Libya stoked concern among investors over a near-term supply shortage, driving crude prices up for the first time in a week on Thursday.Brent crude futures (LCOc1) rose $1.19 on the day to $45.81 a barrel by 0845 GMT, while U.S. West Texas Intermediate (WTI) futures (CLc1) rose $1.45 to $45.23.
  • WTI Crude oil futures are lingering around $45 per barrel mark as steady buying has emerged in the counter after a sharp tumble on Monday. US inventories stay around record highs even as crude output is falling. Oil traders also seem to be eyeing the firmness in gasoline demand ahead of the peak driving season.MCX Crude oil futures ended just above Rs 2900 per barrel yesterday and should see a positive opening following the recovery in global prices.


  • European rules for winding down banks should be reconsidered and should only be applied to newly issued financial instruments, Bank of Italy governor Ignazio Visco said on Thursday.In written comments prepared for a speech in Florence, Visco said applying the new rules to existing securities “can indeed be a source of serious liquidity risk and financial instability”.
  • European Central Bank executive board member Yves Mersch took the defense of ECB policies directly to critical Germans on Thursday, reassuring them there is no plot underway to eliminate cash altogether.Tensions between the ECB and Germany have worsened since the bank unveiled fresh stimulus in March, expanding asset buys and cutting interest rates deeper into negative territory, much to the objection of Germany’s Bundesbank.
  • India is considering setting up an independent panel to help state-owned banks negotiate settlements with big businesses on bad loans, in order to shield bankers from a populist backlash they say is hobbling efforts to clean up their balance sheets. India’s $121 billion troubled debt pile, over $100 billion of which is on the books of state owned banks, has come under close scrutiny from prosecutors, the media and politicians. Some have blamed banks for going too easy on corporate tycoons, and do not want taxpayers propping up the struggling banking sector.


  • BUY GOLD ABOVE 1283.5 TARGET 1288.5 1294.5 SL BELOW 1278.5
  • SELL GOLD BELOW 1274.5 TARGET 1269.5 1263.5 SL ABOVE 1279.5

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Financial Sgx Singapore Stock Market Trading Picks And News – 06 May 2016


  • The Straits Times Index (STI) ended 5.26 points or 0.19% lower to 2,767.81 , taking the year-to-date performance to -3.9%.
  • The top active stocks today were SingTel, which gained 0.53%, DBS, which declined 2.22%, OCBC Bank, which declined 1.06%, UOB, which declined 1.04% and Wilmar Intl, with a 0.57% advance.
  • The FTSE ST Mid Cap Index declined 0.27%, while the FTSE ST Small Cap Index rose 0.01%.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 1.85%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 1.14% higher and 3.27% higher respectively.
  • The underperforming sector was the FTSE ST Financials Index, which slipped 0.62%. DBS Group Holdings shares declined 2.22% and OCBC declined 1.06%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : STI ETF (unchanged), Nikko AM Singapore STI ETF (unchanged), DBXT FTSE Vietnam ETF 10 (-0.99%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+1.49%), Ascendas Reit (+0.42%), Capitacom Trust (+0.36%)
  • The most active index warrants by value today were : HSI20600MBeCW160530 (-5.81%), HSI20000MBePW160629 (+1.00%), HSI20000MBePW160530 (-1.30%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (+1.08%), UOB MB eCW160705 (-12.50%), DBS MB ePW161003 (-2.26%)


  • BUY ANCHOR RESOURCES ABOVE 0.138 TGT 0.144 0.148 SL 0.131

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