Daily Archives: June 2, 2016


Comex Trading Signals and Market News – 02 June 2016


  • Copper futures tumbled by more than 1 per cent during late morning trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after data showed that manufacturing activity in China the world’s biggest metals consumer continued to contract in May signaling a worsening economic slowdown in the country darkening the demand outlook for the metal.
  • Gold prices rose with investors noting mixed China PMI estimates. The Caixin manufacturing PMI came in at 49.2 below the 49.3 expected and down from the previous 49.4. Earlier in China the semi-official CFLP manufacturing PMI for May came in a bit higher than expected at 50.1 unchanged from the previous month.The non-manufacturing PMI for May came in at 53.1 down from 53.5 the previous month.
  • Crude oil prices fell as production from the major Middle East exporters was expected to remain high or even increase. Traders said that the dips were a result of the prospect of rising output from Middle East members of the Organization of the Petroleum Exporting Countries (OPEC) which meets this week in Vienna to discuss its market policy which most analysts say will continue to focus on defending market share instead of propping up prices by controlling output.


  • Japanese Prime Minister Shinzo Abe told lawmakers on Wednesday that he has decided to delay a scheduled sales tax hike by two-and-a-half years, putting his plans for fiscal reforms on the back burner amid more weakness in the economy. The widely-anticipated delay will be welcomed by a majority of voters, who will cast ballots in an upper house election in July. But it is fanning doubts about Abe’s plans to curb Japan’s huge public debt and fund ballooning social welfare costs of a fast-ageing population.
  • China’s central bank on Wednesday said it injected a total of 290.57 billion yuan ($44.1 billion) through short- and medium-term liquidity facilities in May to help support credit growth and the slowing economy.That amount of liquidity injections was down from 715.76 billion yuan in April.The People’s Bank of China extended 290 billion yuan to financial institutions in May via its medium-term lending facility (MLF), it said in a statement on its website.
  • The total amount of capital that euro zone banks are expected to hold as a safety buffer would not change even if part of it was expressed as non-binding “guidance” by the watchdog, one of the European Central Bank’s top supervisors said on Wednesday.”This adjustment to the…concept would not change the total capital level; it would just be divided differently between requirements and guidance,” Sabine Lautenschlaeger, who represents the ECB’s supervisory arm on the bank’s executive board, said.


  • BUY GOLD ABOVE 1223 TARGET 1228 1234 SL 1218
  • SELL GOLD BELOW 1213 TARGET 1208 1202 SL 1218

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IForex Market Trading Signals and News – 02 June 2016


  • Forex – Dollar slips lower as mixed U.S. data continues to weigh
  • Forex – Sterling falls after subdued U.K. factory data, ODEC warning
  • Forex – Dollar drops against yen, investors pare June rate hike expectations

EUR/USD continues to have an uneventful week, as the pair trades at 1.1160 on Wednesday. On the release front, German Manufacturing PMI came in at 52.5 points, beating expectations. Eurozone Manufacturing PMI posted a reading of 51.5 points, matching the forecast. The US will also release a key manufacturing indicator, ISM Manufacturing PMI. The markets are expecting a weak reading of 50.5 in the April report. On Thursday, the ECB sets interest rates, while the US releases two key events – ADP Nonfarm Payrolls and Unemployment Claims.There were no surprises from the Eurozone manufacturing sector, which continues to show weak growth. German and Eurozone Manufacturing PMIs came in slightly above the 50 level, which separates contraction from expansion. German numbers have been mixed this week. German numbers have started the week with mixed results.

The pound fell to the day’s lows on Wednesday after data showing that U.K. manufacturing edged back into expansion territory in May but growth remained subdued and as OECD cut its U.K. growth forecast and warned on Brexit.GBP/USD touched lows of 1.4450, down from around 1.4467 ahead of the data.Market said the U.K. manufacturing purchasing managers’ index ticked up to 50.1 last month from 49.4 in April.Economists had forecast a reading of 49.6.The index was only fractionally above the 50.0 level separating growth from contraction. The domestic market remained positive for manufacturers, especially for producers of consumer goods, but softer global continued to weigh on new export orders, the report said.


  • BUY GBP/USD ABOVE 1.4446 TGT 1.4466 1.4496 SL 1.4416
  • SELL GBP/USD BELOW 1.4416 TGT 1.4396 1.4376 SL 1.4446

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Financial Sgx Singapore Stock Market Trading Picks And News – 02 June 2016


  • The Straits Times Index (STI) ended 0.52 points or 0.02% lower to 2790.54, taking the year-to-date performance to -3.20%.
  • The top active stocks today were DBS, which closed unchanged, SingTel, which gained 0.52%, HongkongLand USD, which closed unchanged, UOB, which gained 0.33% and OCBC Bank, with a 0.58% fall.
  • The FTSE ST Mid Cap Index declined 0.25%, while the FTSE ST Small Cap Index declined 0.60%.
  • The outperforming sectors today were represented by the FTSE ST Consumer Goods Index, which rose 0.95%. The two biggest stocks of the Index – Wilmar International and Thai Beverage – ended 0.30% higher and 2.86% higher respectively.
  • The underperforming sector was the FTSE ST Basic Materials Index, which slipped 1.67%. Midas Holdings shares declined 1.85% and Geo Energy Resources declined 4.39%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : IS MSCI India 100 (-0.29%), SPDR Gold Shares (+0.42%), STI ETF (-0.70%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+0.87%), Capitamall Trust (-0.49%), Suntec REIT (-0.90%)
  • The most active index warrants by value today were : HSI19600MBePW160629A (-9.09%), HSI21000MBeCW160629 (-2.99%), HSI20000MBePW160629 (-8.70%)
  • The most active stock warrants by value today were : KepCorp MBeCW161101 (-14.47%), HSC10000UBeCW160929 (+1.89%), DBS MB eCW161031 (-3.06%)


  • BUY JUMBO ABOVE 0.555 TGT 0.575 0.595 SL 0.525

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