Daily Archives: May 24, 2016

24May

IForex Market Trading Signals and News – 24 May 2016

MARKET UPDATES :

  • Forex – Yen moves higher after Japan trade data
  • Forex – Dollar little changed, close to 3-week highs
  • Forex- Aussie and kiwi rise vs. greenback amid profit-taking

EUR/USD
The euro slid to the day’s lows on Monday after data showing that growth in the euro area’s private sector slowed to a 16-month low in in May, despite solid growth in Germany and France, as other areas struggled. EUR/USD was down 0.17% at 1.1203, re-approaching last Thursday’s two-month lows of 1.1179. The preliminary reading of the euro zone composite purchasing managers’ index, which measures the combined output of both the manufacturing and service sectors, ticked down to a 16-month low of 52.9 from 53.0 in April.Economists had expected the index to rise to 53.2. The rate of business activity expansion in the dominant service sector was unchanged for a third successive month. But the rate of manufacturing output growth was the second-weakest since February 2015, the report said.

GBP/USD
GBP/USD is currently trading with a slight bullish bias. During the previous trading day on 20th May 2016, the pair traded massively short as previously forecasted and even hit out target support level 1.4480. We expect the current upward rally to be the unfolding of wave (b) and should not break above 1.4543, a beak above this level (1.4543) will lead to an acceleration to the upper side, while a clear rebound from this level will lead to the continuation of wave (c) but should not go below 1.4406. This pair should be traded alongside NZD/USD, AUD/USD and GBP/HKD. These pairs have a strong positive correlation of up to +0.89 and will likely have a similar price action during this week.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4548 TGT 1.4568 1.4598 SL 1.4518
  • SELL GBP/USD BELOW 1.4461 TGT 1.4441 1.4411 SL 1.4491

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

24May

Comex Trading Signals and Market News – 24 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold futures struggled near three-week lows in European trade on Monday, adding to last week’s sharp losses, as markets continued to factor in the possibility of another interest rate hike by the Federal Reserve as early as June. Gold for June delivery on the Comex division of the New York Mercantile Exchange shed $1.90, or 0.15%, to trade at $1,251.00 a troy ounce by 06:45GMT, or 02:45AM ET.
  • Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, returning investor attention to a global glut.Adding to signs the oil market will remain oversupplied, data showed last week the number of rigs operated by U.S. drillers held steady for the first time this year, following a near two-year slump in the rig count.
  • Natural gas futures jumped more than 2 per cent during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market as a smaller than expected gain in US stockpiles eased worries over a supply glut.

ECONOMY NEWS :

  • Wall Street futures continued to move to the downside on Monday as markets digested the latest remarks on monetary policy from members of the Federal Reserve (Fed) with two more officials to speak later in the day. The blue-chip Dow futures dropped 27 points, or 0.15%, by 11:02GMT, or 5:02AM ET, theS&P 500 futures fell 3 points, or 0.16%, while the tech-heavy Nasdaq 100 futures traded down 4 points, or 0.10%.
  • A relatively tight labor market in the United States may put upward pressure on inflation, raising the case for higher interest rates, St. Louis Federal Reserve President James Bullard said on Monday.The comments come as financial markets have increased expectations for a U.S. interest rate hike in June or July and a range of policymakers are now stating that a rise is firmly on the table for the next policy meeting in June.
  • The president of the Federal Reserve (Fed) of St. Louis James Bullard compared and contrasted the difference between the current projection of the U.S. central bank on tightening monetary policy and market expectations on Monday and concluded that there was evidence to support both forecasts.In a speech titled “Slow normalization or no normalization”, Bullard pointed out that the Fed’s view suggested a gradual pace of rate increases over the next several years, while the market’s projection was much shallower, suggesting only a few increases over the forecast horizon which he considered to be “almost no normalization”.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1256.3 TARGET 1261.3 1267.3 SL 1251.3
  • SELL GOLD BELOW 1247.5 TARGET 1242.5 1236.5 SL 1252.5

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

24May
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 24 May 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 3.11 points or 0.11% higher to 2766.93, taking the year-to-date performance to -4.02%.
  • The top active stocks today were DBS, which gained 0.53%, Global Logistic, which declined 1.64%, SingTel, which gained 0.78%, OCBC Bank, which gained 0.36% and UOB, with a 0.56% advance.
  • The FTSE ST Mid Cap Index declined 0.08%, while the FTSE ST Small Cap Index rose 0.14%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 0.74%
  • The two biggest stocks of the Index – SingTel and StarHub – ended 0.78% higher and 0.29% higher respectively.
  • The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 0.99%. Keppel Corp shares declined 1.12% and Sembcorp Industries declined 1.42%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : Nikko AM Singapore STI ETF (+0.35%), STI ETF (+0.36%), SPDR Gold Shares (-0.50%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+0.87%), Capitacom Trust (-0.36%), Capitamall Trust (+0.98%)
  • The most active index warrants by value today were : HSI20200MBeCW160629A (-7.50%), HSI20400UBeCW160929 (-5.00%), HSI20800UBeCW160629 (-9.68%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (+2.30%), UOB MB eCW160705 (-8.11%), OCBC Bk MB eCW161003 (+3.03%).

STOCK RECOMMENDATION :

  • BUY QT VASCULAR ABOVE 0.088 TGT 0.092 0.094 SL 0.085

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

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