Daily Archives: May 10, 2016


Comex Trading Signals and Market News – 10 May 2016


  • Copper futures plunged by more than 1 per cent during noon trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal as dismal China trade data underlined concerns over the health of the world’s second biggest economy clouding the demand outlook for copper.Chinese exports fell 1.8 per cent in dollar terms in April and imports suffered an 18th straight month of decline.
  • Gold prices fell by 0.75 per cent on Monday even as the Bank of Japan minutes saw some board members down-beat on hitting the inflation target within the current forecast suggesting continued easy policy. The Bank of Japan published the minutes of its April policy meeting showing some numbers expect the target date for 2 per cent sustained inflation may need to be pushed back.
  • Crude oil prices rose by 1.71 per cent on Monday as supply outages persisted over the weekend from Canada’s    wildfires that have shut half the country’s vast oil sands capacity. Cooler weather light rain and winds opposed to the direction of flames helped control the advance of the blaze that razed Alberta’s oil sands boomtown Fort McMurray. Yet energy firms such as Statoil and Husky Statoil shut their facilities in the area as a precaution.


  • The U.S. economy’s fundamentals are solid and growth this year should pick up to around 2.5 percent, but the Federal Reserve’s current ‘wait and see’ approach to monetary policy is appropriate, a Fed policymaker said on Monday.Charles Evans, president of the Chicago Fed, told a conference in London that business investment and inflation remain lower than he would like.
  • Japan’s consumer confidence weakened less-than-expected in April, after improving in the previous month, survey data from the Cabinet Office showed Monday. The seasonally adjusted consumer confidence index fell to 40.8
    in April from 41.7 in March. Among the individual components of the survey, the overall livelihood index worsened to 39.6 in April from 40.5 in the prior month. Similarly, the employment sub-index dropped from 43.9 to 42.8. At the same time, the indicator for income growth improved slightly to 40.8 from 40.6.
  • China’s exports dropped 1.8 percent year-over-year in April, while it was expected to remain flat, data published by the General Administration of Customs revealed. Imports plunged 10.9 percent in April from a year ago. The visible trade surplus of the country came in at $45.56 billion in April, which was above the expected surplus of $40.00 billion.


  • BUY GOLD ABOVE 1280 TARGET 1285 1291 SL 1275
  • SELL GOLD BELOW 1277 TARGET 1272 1266 SL 1282

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IForex Market Trading Signals and News – 10 May 2016


  • Forex – Dollar hits 2-week high vs. yen on intervention warning
  • Forex -Yen hits 10-day low on intervention warning
  • Forex-Dollar pushes higher against yen, euro steady

The shared currency keeps its recovery mode intact against its American counterpart in late-Asia, taking EUR/USD above 1.14 handle.EUR/USD trades modestly flat at fresh session highs of 1.1411, making another attempt towards 1.15 handle. The main currency is seen consolidating the downside as dust settles over the NFP aftermath, with the major catching fresh bid tone in recent dealings amid broad based US dollar retreat.The greenback wiped-out gains against its major competitors and now trades muted, underpinning the recovery in EUR/USD. Moreover, mixed market sentiment amid higher oil prices and subdued Asian equities also lifts the safe- haven bids for the EUR.Meanwhile, focus turns towards the German factory orders data amid a data-dry trading calendar today. Besides the Euro group meetings will be closely watched for any news on EU referendum ahead of the US LMCI release.

The GBP/USD pair trades around a flat-line in early Europe, falling every attempt to take-out 1.4450 levels, as a lack of fresh fundamental drivers fails to aid the recovery from near 1.44 handle.The GBP/USD pair trades modestly flat at 1.4426, reversing a spike to 1.4440 levels. The cable fails to sustain at higher levels and reverts in the red zone on the back of a broadly higher US dollar, with markets having largely shrugged-off weak US employment report. The USD index trades +0.05% higher at 93.90 levels.The GBP/USD pair consolidates near ten-day lows, although holds 1.44 handle, having found some respite from rallying oil prices on mounting Canadian wildfire induced supply disruption worries. Nothing of note for the major in the day ahead except for the second-liner data in the UK Halifax HPI and US labour market conditions report.


  • BUY GBP/USD AROUND 1.4380 TARGET 1.4420 1.4480 SL 1.4350
  • SELL GBP/USD AROUND 1.4510-1.4520 TARGET 1.4460 1.4400 SL 1.4540

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Financial Sgx Singapore Stock Market Trading Picks And News – 10 May 2016


  • The Straits Times Index (STI) ended 35.26 points or 1.29% higher to 2766.06, taking the year-to-date performance to -4.05%.
  • The top active stocks today were SingTel, which gained 3.46%, DBS, which gained 0.27%, Noble, which declined 13.58%, OCBC Bank, which gained 1.20% and Ascendas REIT, with a 1.25% advance.
  • The FTSE ST Mid Cap Index declined 0.25%, while the FTSE ST Small Cap Index declined 0.62%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 3.27%.
  • The two biggest stocks of the Index – SingTel and StarHub – ended 3.46% higher and 1.81% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 1.55%. Silverlake Axis shares declined 0.90% while CSE Global gained 1.22%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : STI ETF (+1.08%), SPDR Gold Shares (-0.16%), DBXT MSCI Indonesia ETF 10 (+1.55%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+1.25%), Capitamall Trust (+3.90%), Capitacom Trust (-1.07%)
  • The most active index warrants by value today were : HSI21200UBeCW160929 (unchanged), HSI20000MBePW160530 (-13.27%), HSI20600MBeCW160530 (-1.79%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (-3.53%)


  • BUY ACROMEC ABOVE 0.485 TGT 0.505 0.525 SL 0.465

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