Daily Archives: May 23, 2016

23May

Comex Trading Signals and Market News – 23 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures were trading higher during noon trade in the domestic market on Friday tracking a bullish trend in the global market as the sharp losses in the previous session amid bets of a Fed rate hike in June offered a good bargain buying opportunity to traders in the precious metal at existing levels.
  • Natural Gas futures fell in the domestic market during noon trade on Friday as investors and speculators exited positions in the energy commodity as rising US supplies signaled weak demand for the power plant fuel in the world’s biggest gas consuming nation.The EIA on Thursday said that US gas stockpiles climbed by 73 billion cubic feet to 2.754 trillion cubic feet in the week ended May 13 2016.
  • Gold prices fell by 0.19 per cent on Friday as market players continued to price in the improved chances of multiple rate increases from the Federal Reserve this year following hawkish comments from the US central bank on the likelihood of a June rate hike. Federal Open Market Committee (FOMC) said in the minutes from its April meeting that it will likely raise short-term rates at its next meeting in June if the economy continues to improve as expected.

ECONOMY NEWS :

  • Japan’s extraordinarily easy monetary policy, a source of friction with the United States for pushing the yen’s value down, has had some positive effects on emerging Asian economies, including increased growth and equity prices, International Monetary Fund researchers have foundThe IMF findings were released in a paper on Friday, as Group of Seven finance ministers and central bank governors began meeting in Japan, where divergent views on Japan’s monetary policy and currency market interventions were expected to be a hot topic.
  • The United States issued a fresh warning to Japan against competitive currency devaluation on Saturday, exposing a rift on exchange-rate policy that overshadowed a Group of 7 finance leaders gathering hosted by the Asian nation. Japan and the United States are at logger-heads over currency policy with Washington saying Tokyo has no justification to intervene in the market to stem yen gains, given the currency’s moves remain “orderly”.
  • A group of global banks and clearing houses, working with U.S. regulators, said on Friday it has identified two possible replacements for Libor, the benchmark interest rate for $160 trillion worth of credit for everything from home mortgages to corporate loans.The Alternative Reference Rates Committee (ARRC) said that together with the Federal Reserve it has identified the Fed’s Overnight Bank Funding Rate (OBFR) and the overnight rate on U.S. Treasury securities pledged as collateral in repurchase, or repo, transactions as alternatives.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1261 TARGET 1266 1272 SL 1256
  • SELL GOLD BELOW 1247 TARGET 1242 1236 SL 1252

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

 

23May
forex-market-hours

IForex Market Trading Signals and News – 23 May 2016

MARKET UPDATES :

  • Forex – USD/CAD trims gains but remains close to 6-week highs
  • Forex – Dollar hits 3-1/2 week highs vs. broadly weaker yen
  • Forex- Dollar moves back higher on upbeat U.S. housing data

EUR/USD
EUR/USD is steady on Friday, continuing the lack of movement which marked the Thursday session. The pair continues to hug the 1.12 line in the European session. On the release front, it’s a quiet end to the trading week. German PPI posted a small gain of 0.1%, edging above the forecast of 0.0%. Eurozone Current Account impressed, as the surplus surged to EUR 27.3 billion, well above the estimate of EUR 19.6 billion. Over in the US, the sole event on the schedule is Existing Home Sales. The markets are expecting an improvement in the April release, with an estimate of 5.40 million.

GBP/USD
GBP/USD is currently trading with a bearish bias. Yesterday, the pair retraced as previously forecasted but did not reach our target 1.4543. As long as the level 1.4543 protects the lower side, expect an upward momentum but should not go above 1.4706-1.4729. Ideally, we anticipate a possible rebound from the level 1.4706 or a break below 1.4543 to go short . In an alternative case scenario, should the pair break above 1.4729, then we expect an acceleration to the upper side. This pair should be traded alongside GBP/JPY, GBP/HKD and GBP/CHF. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4510-1.4508 TGT 1.4490 1.4470 SL 1.4540
  • SELL GBP/USD ABOVE 1.4540 TGT 1.4560 1.4590 SL 1.4510

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PTE LTD.

23May
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 23 May 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 23.71 points or 0.87% higher to 2763.82, taking the year-to-date performance to -4.12%.
  • The top active stocks today were SingTel, which gained 0.79%, Global Logistic, which declined 1.08%, DBS, which gained 0.80%, OCBC Bank, which gained 0.36% and Ascendas REIT, with a 1.76% advance.
  • The FTSE ST Mid Cap Index gained 0.66%, while the FTSE ST Small Cap Index rose 0.14%.
  • The outperforming sectors today were represented by the FTSE ST Oil & Gas Index, which rose 2.57%. The two biggest stocks of the Index – Keppel Corp and Sembcorp Industries – ended 2.68% higher and 3.31% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 1.19%. Silverlake Axis shares declined 1.84% and CSE Global remained unchanged.
  • The three most active Exchange Traded Funds (ETFs) by value today were : IS MSCI India 100 (-0.61%).,STI ETF (+0.72%), DBXT MSCI Indonesia ETF 10 (-0.59%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+1.76%), Manulife REIT (unchanged), Capitamall Trust (unchanged)
  • The most active index warrants by value today were : HSI21200UBeCW160929 (+13.43%), HSI20400UBeCW160929 (+9.59%), HSI20200MBeCW160629A (+19.40%)

STOCK RECOMMENDATION :

  • BUY ISR CAPITAL ABOVE 0.094 TGT 0.098 0.101 SL 0.089

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

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