Daily Archives: May 12, 2016


Comex Trading Signals and Market News – 12 May 2016


  • Crude oil prices rose by 0.24 per cent on Wednesday on heavy short covering after suffering one of its worst single-day sessions on the calendar year as investors continued to react to devastating wildfires in Canada and widespread changes in the leadership structure of Saudi Arabia’s leading state-run oil company.Traders continued to monitor the catastrophic fires in Canada where estimates of the number of barrels being forced offline from the firestorms continued to rise.
  • Gold prices rose by 0.70 per cent on Wednesday as investors continued to monitor movements in the US dollar. The greenback fell as investors locked in gains following its steep rise after continued comments about possible intervention by the Japanese government. Dollar weakness usually benefits gold as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.
  • The correction last evening was not as eventful as Monday in Copper prices. June futures closed at Rs 312.15, down
    0.32%. The data from China’s National Statistics Bureau said its Consumer Price Index for April rose 2.3% on an annual basis, slightly lower than consensus estimates of 2.4% and in line with March’s reading.The prices from last few days have been under severe threat first by the Chinese import numbers and now the news of Freeport selling its key Copper business.


  • U.S. policymakers are “pretty clear” in their views that Japan should refrain from any steps to intentionally weaken the yen, such as intervention in currency markets, a key economic adviser to Prime Minister Shinzo Abe said on Wednesday. Japanese financial authorities thus face a tough situation, with few options to contain unwelcome yen rises, said Koichi Hamada, an emeritus professor at Yale University who has close contacts with senior U.S. and Japanese policymakers.
  • India will start imposing capital gains taxes on investments coming from Mauritius starting from next year as part of a new tax treaty agreed by both countries, according to a government statement on Tuesday.The taxes on capital gains will apply to investments made from April 1, 2017 and will be imposed at 50 percent of the domestic rate until March 31, 2019, and at the full rate thereafter.
  • The European Central Bank’s easy monetary policy is justified by a subdued growth outlook in the euro zone, a top official at Germany’s Bundesbank said on Wednesday, reaffirming his institution’s defence of the ECB against German criticism. “The current, expansionary monetary policy is justified by the subdued outlook for inflation and subdued growth – although of course there are side effects that increase with time, and even if you can argue about individual instruments,” Bundesbank board member Andreas Dombret said at an event in Berlin.


  • BUY GOLD ABOVE 1280 TARGET 1285 1292 SL 1273
  • SELL GOLD BELOW 1270 TARGET 1265 1658 SL1275

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Financial Sgx Singapore Stock Market Trading Picks And News – 12 May 2016


  • The Straits Times Index (STI) ended 8.28 points or 0.3% lower to 2732.87, taking the year-to-date performance to -5.20%.
  • The top active stocks today were Wilmar Intl, which declined 3.52%, SingTel, which gained 0.26%, UOB, which declined 0.96%, DBS, which declined 0.88% and OCBC Bank, with a 0.36% advance.
  • The FTSE ST Mid Cap Index declined 0.14%, while the FTSE ST Small Cap Index declined 0.20%.
  • The outperforming sectors today were represented by the FTSE ST Utilities Index, which rose 1.10%. The two biggest stocks of the Index – Keppel Infrastructure Trust and SIIC Environment Holdings – ended 1.00% higher and 0.75% higher respectively.
  • The underperforming sector was the FTSE ST Health Care Index, which slipped 3.04%. Raffles Medical Group shares remainedun-changed and Riverstone Holdings declined 2.75%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : STI ETF (-0.72%), DBXT S&P CNX Nifty ETF 10 (+0.84%), DBXT MSCI China TRN ETF 10 (-0.44%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-0.41%), Capitamall Trust (unchanged), Capitacom Trust (-1.06%)
  • The most active index warrants by value today were : HSI20000MBePW160629 (+8.65%), HSC8400UBeCW160629 (-9.09%), HSI21200UBeCW160929 (-19.84%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (-8.11%)


  • BUY RESOURCES PRIMA ABOVE 0.028 TGT 0.030 0.031 SL 0.026

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IForex Market Trading Signals and News – 12 May 2016


  • Forex – Dollar slips lower vs. rivals amid profit-taking
  • Forex -Dollar turns lower against yen as investors take profits
  • Forex-Aussie, kiwi move higher but gains seen capped

EUR/USD is currently trading with a bullish bias.Yesterday, the pair traded short but could not close below the descending trend line. During this intraday, We expect an upward acceleration but should not close above 1.1396. Ideally, we expect the upper resistive trend line to mark the end of wave (4) but should be the beginning of wave (5). A clear breakout above 1.1396 will push the price further to the upper side but should not go above 1.1438. However, as long as the pair trades within the descending channel, we expect a rally to the lower side. This pair should be traded alongside EUR/GBP, NZD/USD, GBP/USD. These pairs have a strong positive correlation of up to +0.89 and will likely have a similar price action during this intraday.

The pound fell to the day’s lows against the dollar on Wednesday after data showing that U.K. manufacturing output fell at the fastest rate in nearly three years in March, adding to signs that the economy is slowing.GBP/USD touched lows of 1.4389, down from around 1.4421 ahead of the data.The Office for National Statistics reported that manufacturing output in the U.K. fell 1.9% in March from the same month a year earlier, the steepest annual fall since May 2013. The fall was led by a 4% drop in the manufacture of basic metals & metal products, particularly iron and steel.For the month, manufacturing output edged up by 0.1%, missing forecast for a 0.3% increase, after falling 0.9% in February.ndustrial output rose 0.3% in March and was 0.2% lower on a year-over-year basis.The figures did not point towards any revision of the estimate of first quarter economic growth released last month, the ONS said.


  • BUY GBP/USD AROUND 1.4395 TARGET 1.4415 1.4445 SL 1.4365
  • SELL GBP/USD AROUND 1.4485-1.4483 TARGET 1.4465 1.4435 SL 1.4515

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