Daily Archives: June 15, 2016


Economists trim 2016, 2017 Singapore growth forecasts


  • Economists trimmed their forecasts for Singapore’s 2016 and 2017 growth, while downgrading their views on exports as well as private consumption for this year, a central bank survey showed on Wednesday.
  • The median forecast of 22 economists surveyed by the Monetary Authority of Singapore (MAS) was for gross domestic product (GDP) to grow 1.8% in 2016, down from the 1.9% expected in the previous survey published in March.
  • The median forecast for GDP growth in 2017 was also lowered to 2.1%, down from 2.5% in the previous survey.
  • The government expects full-year GDP growth of 1.0%-3.0% this year.
  • Economists’ median forecast for non-oil domestic exports was for a contraction of 2.1% in 2016, down from the previous forecast for growth of 0.2%.
  • In late May, Singapore slashed its export forecasts for this year after the trade-reliant economy barely grew in the first quarter, heightening uncertainty over the economic outlook.
  • The median forecast for private consumption was cut to 2.5% growth this year, from 3.2% growth in the previous survey.
  • The manufacturing sector was not expected to grow at all this year, still an improvement from the previous median forecast for a contraction of 2.7%.
  • Economists also lowered their forecasts on the all-items consumer price index (CPI). However, they kept unchanged their outlook for core inflation, which is seen as the focus of the central bank’s monetary policy.

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Comex Trading Signals and Market News – 15 June 2016


  • Oil fell on Tuesday, as investor nervousness over next week’s vote on Britain’s possible European Union exit swept financial markets, eclipsing signs of a return to health for crude prices.Perceived safe-haven assets such as the Swiss franc and German Bunds rallied, while industrial commodities and equity markets, seen as more vulnerable to economic risk, fell after polls showed Britain’s “Leave” campaign leading before a referendum on EU membership.
  • Gold futures were lower in European trade on Tuesday, after climbing to a four-week high in the prior session, as investors readjusted positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day. While the Fed is widely expected to leave interest rates unchanged at the conclusion of its policy meeting at 18:00 GMT, or 2:00PM ET, Wednesday, the U.S. central bank could provide guidance on its pace of tightening over the next several months.
  • Silver futures were trading lower during the late morning trade in the domestic market on Tuesday as traders trimmed their positions amid tracking weak trend in global markets.Speculators indulged in trimming of positions at existing levels and a weak trend in precious metals globally kept pressure on Silver futures.


  • Evidence that the U.S. neutral rate of interest remains stalled near zero may slow Federal Reserve rate hikes even more than expected, tying the hands of policymakers until a rebound in global demand or other forces raise that key measure of the economy’s underlying strength.Though difficult to estimate precisely, the neutral rate is the point at which monetary policy neither encourages nor discourages spending and investment, and is thus a key measure of whether a given federal funds rate is stimulating or restricting the economy.
  • British finance minister George Osborne, battling to keep the country in the EU, warned voters that he will take new austerity measures if they decide to leave the bloc in next week’s referendum. With opinion polls showing momentum swinging to the “Out” camp, Osborne intensified the tone of his warnings about the consequences of a so-called Brexit, saying he would respond by increasing taxes and cutting spending.
  • Half of Chinese investors are holding back from buying property in Britain until after the country’s referendum on EU membership, a survey showed on Wednesday, though a quarter say they are more eager to complete purchases before the vote. A total of 51 percent of the 411 Chinese property professionals and investors surveyed by juwai.com, the largest real estate portal that targets Chinese buyers looking abroad, said the June 23 vote had made them hold back from deals.


  • BUY GOLD ABOVE 1286.8 TARGET 1291.8 1297.8 SL 1281.8
  • SELL GOLD BELOW 1277.8 TARGET 1272.8 1266.8 SL 1282.8

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IForex Market Trading Signals and News – 15 June 2016


  • Forex – Yen hits 3-year highs against euro, pound on Brexit fears
  • Forex – Sterling remains lower after UK inflation data on Brexit jitters
  • Forex – Sterling at 2-month lows, yen gains on Brexit fears

EUR/USD bounced off one-week lows on Monday, as dollar sentiment remained weak ahead of a highly-anticipated interest rate decision from the Federal Reserve, when the U.S. central bank is widely expected to leave short-term rates unchanged.The currency pair traded between 1.1232 and 1.1303 before settling at 1.1292, up 0.0053 or 0.46% on the session. With the considerable gains, the euro ended a three-day losing streak against the dollar. Over the last month, the euro has been relatively flat against its American counterpart, down 0.75% during the period. More broadly, EUR/USD is up 4% since starting the year at 1.086.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 was trading at almost two-month lows against the dollar on Tuesday after data showing that U.K. inflation remained steady in May, as concerns over prospect of a British exit from the European Union continued to weigh. GBP/USD was down 0.87% at 1.4144, holding just above Monday’s two-month trough of 1.4114. The Office for National Statistics said the annual rate of U.K. inflation remained steady at 0.3% in May, slightly below economists’ expectations for an increase of 0.4%.Lower prices for clothing and footwear along with food and beverages put the largest downward pressure on inflation, the ONS said.Fuel prices rose as oil prices recovered, the report said.Core inflation, which excludes volatile energy and food costs, remained steady at 1.2%, falling slightly short of forecasts for a 1.3% increase.


  • BUY GBP/USD ABOVE 1.4200 TGT 1.4220 1.4240 SL 1.4170
  • SELL GBP/USD AROUND 1.4265-1.4263 TGT 1.4245 1.4205 SL 1.4295

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Financial Sgx Singapore Stock Market Trading Picks And News – 15 June 2016


  • The Straits Times Index (STI) ended 17.1 points or 0.61% lower to 2768.33, taking the year-to-date performance to -3.97%.
  • The top active stocks today were DBS, which declined 0.13%, SingTel, which declined 1.55%, UOB, which declined 1.04%, OCBC Bank, which declined 0.36% and Keppel Corp, with a 1.48% fall.
  • The FTSE ST Mid Cap Index declined 0.02%, while the FTSE ST Small Cap Index rose 0.02%.
  • The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 0.93%. The two biggest stocks of the Index – Silverlake Axis and CSE Global – ended 0.98% higher and 3.37% lower respectively.
  • The underperforming sector was the FTSE ST Telecommunications Index, which slipped 1.48%. SingTel shares declined 1.55% and Star-Hub declined 0.84%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-0.30%), STI ETF (-0.35%), DBXT FT China 25 ETF 10 (-1.10%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-0.43%), Capitamall Trust (+0.49%), Capitacom Trust (unchanged)
  • The most active index warrants by value today were : HSI21200UBeCW160929 (-8.11%), HSI20600MBeCW160728 (-12.71%), HSI20400UBeCW160929 (-6.00%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (+1.05%), UOB MB eCW161031 (-7.22%), DBS MB ePW161003 (-3.53%)


  • BUY MANHATTAN RES ABOVE 0.117 TGT 0.123 0.126 SL 0.111

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