Daily Archives: June 10, 2016


Oil falls on stronger dollar; high refinery demand lends support


  • Oil prices fell on Friday, as a stronger dollar pulled crude off the 2016 highs hit this week, although strong refinery demand and global supply disruptions lent some support.

  • International Brent crude oil futures were trading at $51.59 per barrel at 0537 GMT, down 36 cents from their last settlement. U.S. West Texas Intermediate (WTI) futures were down 38 cents at $50.18 a barrel.
  • Analysts said that a rebound in the dollar had dented oil prices by making fuel imports for countries using other currencies more expensive.
  • “Oil prices eased back from a near 12-month high as the dollar reversed its recent trend,” ANZ bank said on Friday.
  • However, strong overall oil demand especially from refineries, as well as supply disruptions, were helping to keep prices from falling faster and further.
  • “Despite falling slightly overnight, the outlook for oil (prices) remains positive – which should keep the recent upward trend intact,” ANZ added.
  • Crude prices have virtually doubled since touching their lowest in more than a decade in early 2016 as strong demand and supply disruptions erode a glut that pulled down prices by as much as 70 percent from a mid-2014 peak.

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Comex Trading Signals and Market News – 10 June 2016


  • Oil prices edged lower on Thursday as traders took profits after three sessions of gains, though prices remained close to their highest this year thanks to a fall inU.S. crude inventories and supply disruptions.International Brent crude oil futures traded 13 cents a barrel lower at $52.38 a barrel at 0845 GMT, after setting a 2016 high of $52.86 a barrel earlier in the session. U.S. crude fell by 5 cents a barrel to $51.20 after also hitting a new 2016 high at $51.67.
  • Gold futures extended strong overnight gains in European trade on Thursday to hit a fresh three-week high as a broadly weaker U.S. dollar due to fading expectations for a summer rate hike boosted the precious metal. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.1% at 93.54, not far the prior session’s five-week low of 93.41.
  • Copper futures were trading higher in the domestic market on Thursday as speculators indulged in widening their positions on hopes that the US Fed will hold off on raising interest rates which kept a lid on dollar. The dollar is retreating after weak American jobs data pushed out bets on a hike in rates by the Fed.


  • Investors pumped the most funds into U.S.-based emerging-market stock funds since March in the latest week, Lipper data released on Thursday showed, as the U.S. Federal Reserve looked less likely to hike interest rates. The funds took in $1.7 billion in the week ended June 8, the largest inflow since the $3.1 billion in 7-day period ended March 23.
  • Brazil is considering an emergency loan to the cash-strapped state of Rio de Janeiro as it prepares to host the Olympic Games in less than two months, according to two senior government officials familiar with the situation. The loan would be guaranteed by the state’s participation in local companies and could be extended to the states of Minas Gerais and Rio Grande do Sul, which are struggling to pay employees and pensioners as a crippling recession reduces tax revenues.
  • The net worth of U.S. households rose in the first quarter as a boost in real estate values offset a fall in stock market prices, a report by the Federal Reserve showed on Thursday.Families’ net worth increased to $88.1 trillion over the quarter, up from a revised $87.3 trillion in the previous period.The S&P 500 (SPX) dropped almost 10 percent from January through mid-February on fears over China’s economic rebalancing, a global growth slowdown and low oil prices.


  • BUY GOLD ABOVE 1268.25 TARGET 1271.50 1275 SL 1265.45
  • SELL GOLD BELOW 1265.50 TARGET 1262 1258 SL 1268.50

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IForex Market Trading Signals and News – 10 June 2016


  • Forex – Sterling remains lower after U.K. trade data
  • Forex – Dollar near 5-week lows, NZ dollar hits 1-year highs
  • Forex – Aussie weaker after mixed China prices data, yen stronger

EUR/USD extended recent gains to briefly clear 1.14 for the first time in three weeks, as the European Central Bank launched a comprehensive corporate bond buying program on Wednesday. The currency pair traded in a tight range between 1.1355 and 1.1410, before settling at 1.1396, up 0.0039 or 0.33%. With the slight gains, the euro posted its third straight win against the dollar and fifth over the last seven sessions. Since dipping below 1.11 in late-May, the euro has rallied by more than 2.3% against its American counterpart over the last week. 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.

The pound remained slightly lower against the dollar on Thursday as concerns over the upcoming European Union referendum overshadowed encouraging U.K. trade data. GBP/USD was last down 0.26% at 1.4466 from around 1.4459 earlier.The Office for National Statistics reported that the U.K. trade deficit fell more than expected in April, after a record increase in goods exports. The volume of exported goods jumped 11.2% or £2.2 billion from a month earlier, taking the total value of goods exports to £26.1 billion.Imports rose by £2 billion to £36.6 billion, the ONS said. The increase in exports meant that the trade deficit narrowed to £3.29 billion in April from a downwardly revised £3.53 billion in March, the lowest level since September 2015. The data indicated that recent weakness in trade data may be coming to an end.But sentiment on sterling remained fragile ahead of the June 23 EU Brexit referendum.


  • BUY GBP/USD ABOVE 1.4515 TGT 1.4535 1.4565 SL 1.4485
  • SELL GBP/USD BELOW 1.4435 TGT 1.4405 1.4375 SL 1.4465

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Financial Sgx Singapore Stock Market Trading Picks And News – 10 June 2016


  • The Straits Times Index (STI) ended 18.58 points or 0.65% lower to 2843.8, taking the year-to-date performance to -1.35%.
  • The top active stocks today were DBS, which declined 0.19%, Keppel Corp, which declined 0.35%, Global Logistic, which gained 1.93%, UOB, which declined 1.26% and SingTel, with a 0.25% fall.
  • The FTSE ST Mid Cap Index declined 0.21%, while the FTSE ST Small Cap Index declined 0.14%.
  • The outperforming sectors today were represented by the FTSE ST Utilities Index, which rose 0.42%. The two biggest stocks of the Index – Keppel Infrastructure Trust and SIIC Environment Holdings – ended 1.01% higher and 0.78% higher respectively.
  • The underperforming sector was the FTSE ST Consumer Goods Index, which slipped 1.58%. Wilmar International shares declined 0.29%and Thai Beverage declined 2.70%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+0.56%), STI ETF (-0.69%), IS MSCI India 100 (-1.15%)
  • 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 : STI 2800MBePW160831 (+3.23%), NKY 18500MBeCW160909 (-15.91%), STI 2750MBeCW160630 (-7.02%)
  • The most active stock warrants by value today were : KepCorp MB eCW161101 (-1.06%), UOB MB eCW161031 (-8.59%), DBS MB eCW161031 (+1.82%).


  • BUY ASL MARINE ABOVE 0.310 TGT 0.325 0.335 SL 0.295

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