Daily Archives: May 19, 2016


Comex Trading Signals and Market News – 19 May 2016


  • Oil prices held near the prior session’s seven-month highs in European trade on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell for the second straight week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, amid expectations for a drop of 2.9 million barrels.
  • Gold futures were lower in European trade on Tuesday, after posting modest overnight gains, as market players looked ahead to minutes of the Federal Reserve’s April policy meeting, which many feared could be more hawkish than the statement.Gold for June delivery on the Comex division of the New York Mercantile Exchange dipped $2.00, or 0.16%, to trade at 1,274.80 a troy ounce by 06:46GMT, or 02:46AM ET.
  • Copper prices fell on Wednesday as the dollar rallied after a stream of encouraging US economic data supported the case for more rate rises this year.A US Federal Reserve policymaker said that he will push for an interest rate hike in June or July and two others still see up to three rate increases this year leaving the door open to a change in monetary policy relatively soon.


  • Japan’s gross domestic product (GDP) rose 0.4% on quarter in the first quarter of 2016, the Cabinet Office said on Wednesday. This marked a sharp reversal after a revised 0.4% contraction in the previous quarter. On a yearly basis, GDP surged 1.7% following the downwardly revised 1.1% contraction in the three months prior. Strong consumer demand and higher government spending helped offset relatively weak business investment in January-March quarter.
  • Chinese home prices increased further in April, figures from the National Bureau of Statistics showed Wednesday. On a monthly basis, house prices rose 65 cities out of 70 surveyed by the government, while it fell in 5 cities.The highest increase in house prices were noted in Hefei, by 5.8% and the steepest decline was seen in Jinzhou, by 0.5%. Compared with the same month of last year, house prices grew in 46 cities out of the 70 cities in April, while it dropped 23 cities and remained flat in 1 city.
  • Many euro zone countries do not have the leeway or urgent need to boost fiscal spending, so they should focus on reform instead to lift their growth potential, Jens Weidmann, the head of Germany’s Bundesbank said on Wednesday. An expansionary monetary stance is currently appropriate but should not be maintained longer than absolutely necessary because the negative side effects are increasing with time, Weidmann told Reuters before departing for the G7 summit in Japan.


  • BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
  • SELL GOLD BELOW 1268.8 TARGET 1263.8 1257.8 SL 1273.8

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Forex trading

IForex Market Trading Signals and News – 19 May 2016


  • Forex – Kiwi, Aussie decline vs. broadly stronger greenback
  • Forex – Dollar higher against yen despite upbeat Japan GDP
  • Forex- Dollar rises to 3-1/2 week highs with Fed minutes on tap

EUR/USD is currently trading with a bearish bias. Yesterday, the pair broke above the resistance level 1.1324, but ended up closing below it. As previously forecasted, we still expect the pair to form a double bottom at the support level 1.1283. Thus, we expect a clear rebound from this support to go long with our target at 1.1324. A clear breakout below this support will invalidate the anticipated double bottom formation and may lead to an acceleration to the lower side. This pair should be traded alongside GBP/USD, AUD/USD and NZD/USD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

The pound was lower against the broadly stronger dollar on Wednesday, shrugging off a solid U.K. jobs report as investors’ reassessed prospects that the Federal Reserve would soon raise interest rates.The Office for National Statistics reported that the claimant count, which measures the number of people receiving unemployment benefit, fell by 2,400 in April, against expectations for an increase of 4,300.March’s claimant count was revised up to 14,700, the biggest monthly increase since September 2011. The U.K. unemployment rate remained stable at 5.1%, in line with economists’ forecasts.The number of people in work rose by 44,000, bringing the employment rate to a record high of 74.2%.


  • BUY GBP/USD ABOVE 1.4530 TGT 1.4550 1.4580 SL 1.4500
  • SELL GBP/USD AROUND 1.4520-1.4518 TGT 1.4500 1.4470 SL 1.4550

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Financial Sgx Singapore Stock Market Trading Picks And News – 19 May 2016


  • The Straits Times Index (STI) ended 4 points or 0.14% lower to 2777.11, taking the year-to-date performance to -3.66%.
  • The top active stocks today were Global Logistic, which gained 4.67%, SingTel, which declined 0.77%, DBS, which declined 0.20%, SIA, which gained 1.22% and OCBC Bank, with a 0.12% fall.
  • The FTSE ST Mid Cap Index declined 0.26%, while the FTSE ST Small Cap Index declined 0.24%.
  • The outperforming sectors today were represented by the FTSE ST Real Estate Holding and Development Index, which rose 0.69%. The two biggest stocks of the Index – Hongkong Land Holdings and Global Logistic Properties – ended 1.66% higher and 4.67% higher respectively.
  • The underperforming sector was the FTSE ST Basic Materials Index, which slipped 1.16%. Midas Holdings shares declined 1.85% and Geo Energy Resources declined 1.77%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : iShares USD Asia HY Bond ETF (-0.56%), STI ETF (-0.71%), DBXT MSCI Taiwan ETF 10 (-0.97%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-1.28%), Capitamall Trust (+0.48%), Capitacom Trust (+0.71%)
  • The most active index warrants by value today were : HSI21200UBeCW160929 (-11.91%), HSI20400UBeCW160929 (-12.50%), HSI22400UBeCW161028 (-13.43%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (-5.68%), OCBC Bk MBeCW161004 (-5.33%)


  • BUY UPP ABOVE 0.205 TARGET 0.220 0.240 SL 0.195

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