Daily Archives: May 26, 2016

26May

Comex Trading Signals and Market News – 26 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures fell during morning trade in the domestic market on Wednesday as investors and speculators exited positions in the precious metal amidst growing speculation that the US Federal Reserve is moving closer to raising interest rates dimming the lure for the bullion as a store of value.
  • Gold prices fell by 0.46 per cent on Wednesday as investors continued to factor in an increased chance of a near-term US interest rate rise. Market players will pay close attention to comments from a number of Fed officials later in the day for further hints on the timing of a US rate hike. Besides the Fed speakers traders will focus on an advanced read on international trade for April and FHFA home prices.
  • Crude oil prices rose by 0.85 per cent on Wednesday after US industry stock data showed a sharp drop at the end of last week. The American Petroleum Institute said that crude oil stock dropped 5.137 million barrels last week compared to a decline of 3.3 million barrels seen as refineries typically ramp up gasoline production as the summer driving season approaches next week in the US with the Memorial Day weekend.

ECONOMY NEWS :

  • German Vice Chancellor Sigmar Gabriel on Wednesday welcomed an overnight euro zone deal with Greece that offers Athens its firmest offer yet of debt relief.”We welcome in particular the Eurogroup (of euro zone finance ministers) fundamentally agreeing on a package of debt relief for Greece,” Gabriel, leader of Germany’s centre-left Social Democrats, said in a written statement sent to Reuters.
  • Regulators have yet to get a firm handle on the world’s $35 trillion shadow banking sector with supervision and data gathering still too patchy for spotting risks properly, the global Financial Stability Board said on Wednesday. Banks face tougher rules since the 2007-09 financial crisis, prompting a shift in risks to shadow banking like repurchase agreements, securitization or pooling of debt, money market funds and securities lending by asset managers.
  • Confidence among Indian businesses fell to a five-month low in May led by weak export orders and higher raw materials costs. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell to 61.8 in May from 62.4 in April. This is the third consecutive decline and was led solely by the manufacturing sector, while sentiment among construction and service sector firms improved.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1230.30 TARGET 1235.30 1241.30 SL 1225.30
  • SELL GOLD BELOW 1220.20 TARGET 1215.20 1209.20 SL 1226.20

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

26May

IForex Market Trading Signals and News – 26 May 2016

MARKET UPDATES :

  • Forex – Dollar dips but remains firm on rate hike view
  • Forex – Aussie and kiwi rise vs. greenback on oil rebound
  • Forex- Dollar edges lower, remains underpinned by robust U.S. housing data

EUR/USD
EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair traded short and even broke below a very significant support level 1.1166 and is currently retracing towards it. We expect the current upward rally to be a mere upward retracement and should not go above 1.1166. A break above this level will lead to an acceleration to the upper side, but should not close above 1.12177. This pair should be traded alongside NZD/USD, AUDF/USD and ER/HKD. These pairs have a strong positive correlation of up to +0.96 and will likely have a similar price action during this intraday.

GBP/USD
GBP/USD is currently trading with a slight bearish bias. Yesterday, the pair bounced off from the support zone 1.4480-1.4468, headed long and is still pretty much bullish. Following the break above 1.4543, we are very reluctant to go short, instead, we expect the current downward rally to be a mere pullback and should not close below 1.4543. A clear break below 1.4543 will lead to a rally to the lower side while a rebound from 1.4543 will lead to an acceleration to the upper side but should not go above 1.4729. This pair should be traded alongside GBP/CHF, USD/JPY, GBP/JPY and GBP/HKD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intaday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4663 TGT 1.4683 1.4713 SL 1.4633
  • SELL GBP/USD BELOW 1.4601 TGT 1.4581 1.4581 SL 1.4631

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

26May
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 26 May 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 16.43 points or 0.6% higher to 2766.66, taking the year-to-date performance to -4.03%.
  • The top active stocks today were SingTel, which gained 0.26%, DBS, which gained 0.99%, Global Logistic, which gained 0.85%, OCBC Bank, which gained 0.83% and UOB, with a 0.67% advance.
  • The FTSE ST Mid Cap Index gained 0.16%, while the FTSE ST Small Cap Index declined 0.17%.
  • The outperforming sectors today were represented by the FTSE ST Consumer Services Index, which rose 1.02%.
  • The two biggest stocks of the Index – ComfortDelGro Corp and Singapore Press Holdings – ended 1.10% higher and 0.51% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 0.89%. Silverlake Axis shares declined 0.98% and CSE Global declined 1.11%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-1.58%), STI ETF (+0.36%), DBXT MSCI Russia Cap 25 ETF 10 (+2.13%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+0.43%), Capitamall Trust (unchanged), Capitacom Trust (+1.08%)
  • The most active index warrants by value today were : HSI18800MBePW160629 (-35.62%), HSI21000MBeCW160629 (+57.14%), HSC8400UBeCW160629 (+33.33%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (+11.77%), OCBC Bk MB eCW161003 (+6.25%), UOB MB eCW160705 (-6.06%)

STOCK RECOMMENDATION :

  • BUY MM2 ASIA ABOVE 0.620 TGT 0.645 0.670 SL 0.590

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

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