Daily Archives: May 16, 2016


Comex Trading Signals and Market News – 16 May 2016


  • Oil prices ended a three-day bull run on Friday, falling as a strong dollar made it more expensive to hold oil positions though losses were cushioned by Nigerian outages that have slashed output to the lowest in 22 years. The dollar (DXY) hit a two-week high against a basket of currencies on Friday, lifted by expectations the U.S. Federal Reserve will raise rates again before any other major central bank.
  • Gold prices rose on Friday, but gains were limited by a stronger U.S. dollar as investors awaited the release of a number of U.S. economic reports later in the day.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.35% at $1,275.80.The June contract ended Thursday’s session 0.34% lower at $1,271.20 an ounce.Futures were likely to find support at $1,258.70, the low from May 10 and resistance at $1,286.50, the high from May 9.
  • Zinc prices rose by 0.72 per cent on Thursday at the Multi Commodity Exchange (MCX) due to rising demand in the domestic spot market coupled with a firm trend in the base metal overseas. Sentiments further strengthen as data were revealed which eased demand concerns in China.


  • China said it has signed a multilateral agreement to share tax information on multinational companies, paving the way for it to join the fight on global tax avoidance.China signed the country-by-country tax reporting agreement, along with Canada, India, Iceland, Israel and New Zealand, during a meeting of the OECD Forum on Tax Administration (FTA) in Beijing this week, bringing the number of countries that have signed the pact to 39.
  • Eurozone gross domestic product climbed 0.5 percent in the first quarter from the prior quarter, when it grew 0.3 percent, the flash estimate from Eurostat showed Friday. Eurostat previously estimated 0.6 percent growth for the first three months of 2016. On a yearly basis, GDP growth eased marginally to 1.5 percent from 1.6 percent. The annual growth rate for the first quarter was revised down from 1.6 percent. At the same time, the EU28 economy logged a 0.5 percent sequential growth and 1.7 percent annual expansion. Both growth figures were kept unchanged from the previous release.
  • Germany’s gross domestic product expanded 0.7 percent sequentially in the first quarter, faster than the 0.3 percent growth in the previous three months, according to provisional data published by Destatis on Friday. GDP climbed 1.3 percent on a yearly basis, weaker than the 2.1 percent expansion seen in the previous quarter.


  • BUY GOLD ABOVE 1276.3 TARGET 1281.3 1287.3 SL 1271.3
  • SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1276

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IForex Market Trading Signals and News – 16 May 2016


  • Forex -Dollar edges higher ahead of U.S. economic reports
  • Forex -Dollar slips against yen, edges higher vs. euro
  • Forex-Yen gains further in Asia as Kuroda defends negative rates

EUR/USD fell sharply on Friday, as the dollar continued its rally from 9-month lows amid an unexpected surge in U.S. consumer sentiment. The currency pair traded in a broad range between 1.1283 and 1.1379, before settling at 1.1313, down 0.0061 or 0.56% on the session. At session-lows, the euro fell below 1.13 against the dollar for the first time in the month of May. The euro has now closed lower versus the dollar in eight of the last nine sessions. Despite the recent downturn, the euro is still up against American counterpart by more than 4% since the start of the year.EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.

GBP/USD is currently trading with a slight bullish bias. Yesterday, the pair broke above the channel but ended up within the same channel. As long as the pair trades within this channel, expect a rally to the lower side, a clear breakout above 1.4480 will lead to an acceleration to the upper side but should not go above 1.46637. During this intraday, key levels to look for include 1.4106, 1.4178, 1.4304, 1.44061, 1.4480, and 1.4663. This pair should be traded alongside AUD/USD, GBP/CHF, NZD/USD, and GBP/CHF. These pairs have a strong positive correlation of up to +0.92 and will likely have a similar price action during this intraday.


  • BUY GBP/USD ABOVE 1.4440 TARGET 1.4460 1.4490 SL 1.4410
  • SELL GBP/USD AROUND 1.4445-1.442 TARGET 1.4422 1.4392 SL 1.4475

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Financial Sgx Singapore Stock Market Trading Picks And News – 16 May 2016


  • The Straits Times Index (STI) ended 10.48 points or 0.38% lower to 2734.91, taking the year-to-date performance to -5.13%.
  • The top active stocks today were SIA, which declined 5.42%, SingTel, which declined 0.26%, DBS, which gained 0.40%, OCBC Bank, which gained 0.12% and Global Logistic, with a 1.43% fall.
  • The FTSE ST Mid Cap Index declined 0.47%, while the FTSE ST Small Cap Index declined 0.46%.
  • The outperforming sectors today were represented by the FTSE ST Health Care Index, which rose 3.40%. The two biggest stocks of the Index – Raffles Medical Group and Riverstone Holdings – ended 4.26% higher and 1.69% higher respectively.
  • The underperforming sector was the FTSE ST Consumer Services Index, which slipped 1.74%. ComfortDelGro shares increased 1.08% and Singapore Press Holdings declined 0.26%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+0.33%), STI ETF (-0.36%), DBXT MSCI Indonesia ETF 10 (-1.28%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-2.50%), Suntec REIT (-0.30%), Capitamall Trust (-1.44%)
  • The most active index warrants by value today were : HSC9400UBeCW160929 (-10.23%), HSI20200MBeCW160629A (-14.74%), HSI19800MBeCW160530 (-18.18%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (unchanged)


  • BUY 800 SUPER ABOVE 0.525 TGT 0.545 0.560 SL 0.500

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