Daily Archives: June 7, 2016

7Jun

Comex Trading Signals and Market News – 07 June 2016

INTERNATIONAL COMMODITY NEWS :

  • Natural Gas jumped during evening trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity after a less than expected rise in US gas supplies boosted sentiment. The EIA said that US gas stockpiles climbed by 82 billion cubic feet in the week ended May 27 2016 compared to a rise of 85 billion cubic feet estimated by analysts.
  • Copper futures jumped by over 1 per cent during noon trade in the domestic market on Monday tracking a firm trend overseas as a softer dollar following Friday’s dismal US jobs data bolstered the appeal of the industrial metal as an alternative asset.Softer greenback makes copper cheaper for those holding other currencies thus lifting demand.
  • Silver advanced during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal as dismal US May jobs data pushed back bets of an imminent US Federal Reserve interest rate hike bolstering the appeal of the bullion as a store of value.

ECONOMY NEWS :

  • Federal Reserve Chair Janet Yellen on Monday gave a largely upbeat assessment of the U.S. economic outlook and said interest rate hikes are coming but, in an omission that stood out to some investors, gave little sense of when. Overall, a Yellen said, “I see good reasons to expect that the positive forces supporting employment growth and higher inflation will continue to outweigh the negative ones.”
  • The European Commission is confident that Greece will conclude the reforms needed to unlock bailout funds before next week’s meeting of euro zone finance ministers, top officials said on Monday.Greece and its international lenders wrapped up the bulk of reforms needed for badly needed bailout cash in May, but left some loose ends which must be tied up before Athens can receive installments of 10.3 billion euros ($11.48 billion) by September.
  • The U.S. Federal Reserve on Monday awarded $53.35 billion of one-day, fixed-rate reverse repurchase agreements to 36 bidders at an interest rate of 0.25 percent, the New York Fed said on its website. On Friday, the Fed allotted $58.18 billion in three-day reverse repos to 34 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.25 percent.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1248.8 TARGET 1253.8 1259.8 SL 1243.8
  • SELL GOLD BELOW 1242.5 TARGET 1237.5 1231.5 SL 1247.5

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

7Jun
forex-market-hours

IForex Market Trading Signals and News – 07 June 2016

MARKET UPDATES :

  • Forex – Aussie up ahead of cash rate review, AIG construction index down
  • Forex – EUR/USD ticks up, as Yellen holds her cards close to the vest
  • Forex – Dollar index flat on Fed’s Yellen remarks

EUR/USD
EUR/USD inched up, as the dollar recovered from a mid-day swoon after Janet Yellen kept investors on their heels regarding the possibility of a summer interest rate hike with relatively neutral comments on the Federal Reserve’s long-term path on Monday afternoon. The currency pair traded in a tight range between 1.1326 and 1.1393, before settling at 1.1357, up 0.0008 or 0.05% on the session. The euro extended gains from last Friday when it surged nearly 2% against the dollar following the release of the weakest U.S. monthly jobs data in nearly six years. With the slight gains, the euro remained near three-week highs against its American counterpart.EUR/USD likely gained support at 1.1055, the low from March 15 and was met with resistance at 1.1616, the high from May 3.

GBP/USD
GBP/USD is currently trading with bearish bias. Earlier today, the pair gapped down and opened below a significant support level 1.4468, headed short and even broke below the next support level 1.4406. We expect the just broken support level 1.4395 to act as a resistance to any upward rally, thus, as long as the level 1.4395 holds true as a strong Resistance level, we expect an acceleration to the lower-side but should not close below 1.4304. However, in case the price close above 1.44061, then we expect a momentum to the upper side and may close above 1.4480. This pair should be traded alongside EUR/GBP, and GBP/JPY. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4365-1.4367 TGT 1.4387 1.4417 SL 1.4335
  • SELL GBP/USD BELOW 1.4352 TGT 1.4332 1.4302 SL 1.4382

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

7Jun
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 07 June 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 22.05 points or 0.78% higher to 2831.28, taking the year-to-date performance to -1.78%.
  • The top active stocks today were DBS, which gained 1.29%, UOB, which gained 2.02%, SingTel, which gained 1.28%, OCBC Bank, which gained 1.04% and Noble, with a 9.62% fall.
  • The FTSE ST Mid Cap Index declined 0.28%, while the FTSE ST Small Cap Index declined 0.39%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 1.34%.
  • The two biggest stocks of the Index – SingTel and StarHub – ended 1.28% higher and 1.39% higher respectively.
  • The underperforming sector was the FTSE ST Utilities Index, which slipped 1.30%. Keppel Infrastructure Trust shares declined 1.96% and SIIC Environment Holdings declined 1.48%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : CIMB FTSE ASEAN 40 100 (+0.49%), STI ETF (+0.70%), SPDR Gold Shares (+2.28%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+0.49%), Mapletree Logistics Trust (-0.51%), Ascendas REIT (+2.17%)
  • The most active index warrants by value today were : HSC9400UBeCW160929 (+8.05%), HSI21200UBeCW160929 (+0.74%), HSI19400UBePW160929 (-6.71%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (+7.37%), UOB MB eCW161031 (+10.68%), UOB MB eCW161031 (-3.74%)

STOCK RECOMMENDATION :

  • BUY CNMC GOLDMINE ABOVE 0.295 TGT 0.305 0.315 SL 0.285

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

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