Daily Archives: May 30, 2016


Comex Trading Signals and Market News – 30 May 2016


  • Natural Gas futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity after a bigger than expected increase in US crude stockpiles signaled a worsening supply glut. The EIA said that US crude inventories rose by 71 billion cubic feet in the week ended May 20 2016 above the 68 billion cubic feet increase expected by analysts.
  • Silver futures were trading lower during late morning trade on Friday as investors and speculators resorted to a cautious stance amid rising speculation that the US Federal Reserve will lift interest rates in June or July dimming the lure for the bullion as a store of value.St. Louis Fed President James Bullard on Thursday said that financial markets are correctly reading the chances of June rate hike adding that a tighter labour market may exert upward pressure on inflation.
  • Crude oil prices fell by 0.69 per cent on Friday as investors were worried that higher prices could reactivate shuttered crude output adding to global oversupply. Prices were also pressured by a strong greenback that was buoyed by generally positive US economic data amid growing expectations of a near-term rate hike. A stronger dollar reduced the appeal of the fuel as an alternative asset. Stronger greenback makes the fuel expensive for those holding other currencies thus reducing demand.


  • The European Central Bank’s nascent policy on working off bad bank loans may be extended to smaller lenders not directly supervised by the ECB, its chief supervisor said on Friday.The ECB is crafting new guidelines aimed at forcing banks, especially in financially stretched countries such as Italy, Greece and Portugal, to reduce the pile of soured credit sitting on their balance sheet.
  • China’s central bank condemned two recent news reports from foreign media about the country’s currency reforms    and monetary policy, the People’s Bank of China (PBOC) said on its official weibo account on Friday. The reports “fabricated facts, misled readers, misled markets,” the statement said, adding the central bank would investigate taking legal action.
  • Federal Reserve (Fed) chair Janet Yellen will make her first public appearance since the hawkish tone in the minutes from the U.S. central bank’s last policy move forced markets to recalibrate expectations for the continuation of monetary policy tightening.The minutes themselves along with a string of Fed officials insisting that the June 14-15 meeting was live pushed the odds of rate hike at the next gathering from 4% before the publication of the minutes to close to 40%. However, Fed fund futures have since backed down and placed the odds at 26% as of close of market yesterday.


  • BUY GOLD ABOVE 1223 TARGET 1228 1234 SL BELOW 1218
  • SELL GOLD BELOW 1199.7 TARGET 1194.7 1188.7 SL ABOVE 1204.7

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IForex Market Trading Signals and News – 30 May 2016


  • Forex – Dollar edges higher with Yellen remarks on tap
  • Forex – Yen turns weaker in Asia as investors look ahead to Yellen views
  • Forex- Dollar holds steady vs. euro, yen ahead of Yellen speech

EUR/USD is unchanged on Friday, after the pair posted small gains in the Thursday session. The pair is trading quietly slightly below the 1.12 line. On the release front, there are no Eurozone events on the schedule. The US will release two key indicators – Preliminary GDP and UoM Consumer Sentiment. As well, Fed chair Janet Yellen will deliver remarks at an event in Boston. Traders should be prepared for possible volatility from EUR/USD in the North American session. The US economy has shown mixed numbers in the first quarter, and Preliminary GDP, which can be treated viewed as an economic report card, will be closely monitored. Final GDP for the fourth quarter came in at 0.5%, shy of the estimate of 0.7%. The estimate for Preliminary GDP stands at 0.8%, and if the indicator matches or beats this reading, the US dollar could push upwards.

GBP/USD is currently trading with a bullish bias. Yesterday, the pair rebounded from the resistance level 1.47068, headed short and is still pretty much bearish. We expect the current upward rally to be a mere upward pullback and should not close above 1.4729, a close above this level will lead to an acceleration towards 1.4818, while a clear rebound from 1.4706 – 1.4729 will confirm the anticipated momentum to the lower side. This pair should be traded alongside GBP/CHF, and GBP/JPY. These pairs have a strong positive correlation of up to +0.85 and will have a similar price action during this intraday.


  • BUY GBP/USD ABOVE 1.4688 TGT 1.4708 1.4738 SL 1.4658
  • SELL GBP/USD BELOW 1.4640 TGT 1.4620 1.4590 SL 1.4670

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Financial Sgx Singapore Stock Market Trading Picks And News – 30 May 2016


  • The Straits Times Index (STI) ended 29.2 points or 1.05% higher to 2802.51, taking the year-to-date performance to -2.78%.
  • The top active stocks today were DBS, which gained 1.44%, SingTel, which gained 1.81%, OCBC Bank, which gained 0.71%, UOB, which gained 0.89% and Global Logistic, with a 0.85% advance.
  • The FTSE ST Mid Cap Index gained 0.52%, while the FTSE ST Small Cap Index rose 0.26%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 1.72%.
  • The two biggest stocks of the Index – SingTel and StarHub – ended 1.81% higher and 0.86% higher respectively.
  • The underperforming sector was the FTSE ST Basic Materials Index, which slipped 0.07%. Midas Holdings shares remained unchanged and Geo Energy Resources remained unchanged.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-0.44%), DBXT MSCI Indonesia ETF 10 (+0.57%), IS MSCI India 100 (+2.24%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (unchanged), Capitamall Trust (+0.49%), Capitacom Trust (-0.35%)
  • The most active index warrants by value today were : HSI19600MBePW160629A (-14.61%), HSI20200MBeCW160629A (+18.69%), HSI19400UBePW160929 (-4.52%)
  • The most active stock warrants by value today were : DBS MB eCW160711 (+13.68%), UOB MB eCW161031 (unchanged), DBS MB eCW161031 (unchanged)


  • BUY TUAN SING ABOVE 0.290 TGT 0.305 0.320 SL 0.275

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