Daily Archives: May 9, 2016


IForex Market Trading Signals and News – 09 May 2016


  • Forex -Aussie falls as RBA eases inflation views in policy statement
  • Forex -Dollar holds steady with all eyes on nonfarm payrolls
  • Forex-Dollar edges lower as markets brace for U.S. jobs data

The Euro turned lower against the US Dollar as expected, with prices producing the largest daily decline in three weeks. The move lower followed the appearance of a Shooting Star candlestick pattern after the pair found resistance above the 1.16 figure.From here, a daily close below the 23.6% Fibonacci retracement at 1.1357 opens the door for a challenge of the 38.2% level at 1.1196. Alternatively, a reversal back above support-turned-resistance at 1.1456, the 14.6% Fib, paves the way for a test of the May 3 high at 1.1616.Prices are too close to near-term support to justify entering short from a risk/ reward perspective. Furthermore, on-coming US jobs data represents pivotal event risk that may materially alter technical positioning. With that in mind, we will remain on the sidelines for the time being.

The GBP/USD pair is seen trading quite choppy this NFP Friday, swinging between gains and losses amid increased uncertainty as we head towards the US jobs data release. The GBP/USD pair trades modestly flat at 1.4480, unable to beat the bears lined up at 1.45 handle. The cable eases-off highs and now wavers in a limited range, with the upside capped by 1.45 barrier, while the downside remains cushioned just ahead of 1.4450. The prices appear to have found some support from the renewed weakness seen around the US dollar, while upside bias lacks momentum on the back of persisting risk-off sentiment. Meanwhile, the USD index now drops -0.12% at 93.63 levels.On the data-front, next of relevance remains the US NFP data, which is likely to set next direction on the GBP/USD pair.


  • BUY GBP/USD ABOVE 1.4531 TGT 1.4551 1.4581 SL 1.4501
  • SELL GBP/USD BELOW 1.4500 TGT 1.4480 1.4450 SL 1.4530

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Comex Trading Signals and Market News – 09 May 2016


  • Oil prices fell on Friday as investors cashed in on a 20-percent rise over the past month, outweighing the impact of    crude production cuts in Canada where a huge wildfire has disrupted oil sands operations.Oil prices were down around one percent in early European trading, with global benchmark Brent prices set for their first weekly loss in five weeks.
  • Gold prices gained ground on Friday, as traders awaited the release of key U.S. employment data due later in the day amid uncertainty over the strength of the local job market.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.74% at $1,281.55.
  • Soaring silver prices are changing the market’s 2016 landscape as bargain-hunting coin buyers step to the sidelines, and futures and options participants take the reins, said Erica Rannestad, senior analyst of precious metals demand at GFMS.”It’s this renewal in the short term of interest in precious metals as a safe haven,” Rannestad said.


  • Investors pulled out of equities at the fastest rate since last summer’s market rout and cut cash exposure, opting instead for less risky fixed income and precious metals assets ahead of U.S. jobs data, Bank of America Merrill Lynch (NYSE:BAC) (BAML) said on Friday.Net outflows from equity funds almost tripled from the week before, soaring to $16.9 billion – the largest exodus since September, when investors fled stock markets after China’s surprise devaluation sent global markets into a tail spin.
  • Greeks started a 48-hour nationwide strike on Friday in anger at tax and pension reforms pursued by the indebted nation to qualify for more of a multi-billion euro bailout it signed up to last year.Called by the largest private and public sector unions, the strike left ships docked at port, disrupted public transport and kept civil servants and journalists off the job.
  • China has told banks to step up checks on their bill financing businesses to curb risks, after the sector was hit by several cases of bill fraud costing many millions of dollars.Chinese officials have warned against systemic risks as banks struggle to cope with rising bad loans as the economy slows.Some banks have suffered heavy losses due to lax internal controls and other irregularities in bill financing, the People’s Bank of China (PBOC) said in a document jointly issued with the China Banking Regulatory Commission (CBRC).


  • BUY GOLD ABOVE 1288 TARGET 1293 1299 SL 1283
  • SELL GOLD BELOW 1282.5 TARGET 1277.5 1271.5 SL 1287.5

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Financial Sgx Singapore Stock Market Trading Picks And News – 09 May 2016


  • The Straits Times Index (STI) ended 37.01 points or 1.34% lower to 2730.8, taking the year-to-date performance to -5.27%.
  • The top active stocks today were SingTel, which declined 0.53%, DBS, which declined 0.93%, UOB, which declined 1.71%, OCBC Bank, which declined 1.30% and Global Logistic, with a 3.21% fall.
  • The FTSE ST Mid Cap Index declined 0.43%, while the FTSE ST Small Cap Index declined 0.42%.
  • The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 0.28%. The two biggest stocks of the Index – Silverlake Axis and CSE Global – remained unchanged and ended 1.2% lower respectively.
  • The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 2.58%. Keppel Corp shares declined 2.1% and Sembcorp Industries declined 4.2%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : ABF Singapore Bond Index Fund ETF (unchanged), STI ETF (-1.07%), Nikko AM Singapore STI ETF (-1.05%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+0.49%), Ascendas REIT (+0.42%), Suntec REIT (-0.30%)
  • The most active index warrants by value today were : HSI21200UBeCW160929 (-20.26%), HSI20600MBeCW160530 (-30.86%), HSI20800UBeCW160629 (-28.00%)
  • The most active stock warrant by value today was : DBS MB eCW160711 (-9.57%)


  • BUY CWT ABOVE 2.150 TGT 2.235 2.300 SL 0.045

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