Daily Archives: June 20, 2016

20Jun

Comex Trading Signals and Market News – 20 June 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices rose on Friday for the first time in seven days as markets took a breather from concerns about the impact of Britain’s possible exit from the European Union.Brent crude futures were up 59 cents, or 1.3 percent, at $47.78 a barrel around 0650 GMT after slumping 3.6 percent in the previous session.
  • Gold prices slid lower on Friday, as traders locked in profits from the precious metal’s rally to 23-month highs on Thursday, sparked by a broadly weaker U.S. dollar. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery lost 1.03% to $1,285.05. The August contract ended Thursday’s session 0.78% higher at $1,298.40 an ounce.
  • Copper futures were trading higher in the domestic market on Friday on pick up in spot demand even as metal weakened overseas. Market men attributed the rise in copper futures to a firming trend at the domestic spot market on the back of pick up in industrial demand.

ECONOMY NEWS :

  • The New York Federal Reserve said on Friday it had lowered its forecasts for U.S. economic growth in the second and third quarter largely due to recent negative data on domestic manufacturing activities.U.S. gross domestic product is on track to grow at an annualized pace of 2.1 percent, slower than the 2.4 percent rate estimated two weeks ago, while third-quarter GDP would moderate to a 2.1 percent growth rate from 2.2 percent calculated two weeks earlier, the regional central bank said on its website.
  • The U.S. economy is on track to grow by a 2.8 percent annualized rate in the second quarter following data on housing starts in May, Atlanta Federal Reserve’s GDPNow forecast model showed on Friday. The latest GDP estimate was unchanged from the pace calculated on Tuesday, the regional Fed said on its website.
  • Satisfying new accounting rules for bad loans should not be a burden for small banks, U.S. banking regulators said    on Friday. The Financial Accounting Standards Board this week set a new framework for loan-loss reserves: the formula for how banks should account for bad loans.The rules were conceived to reduce the likelihood that investors will get blindsided by a sudden deluge of bad loans, as they did during the 2007-2009 financial crisis.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1300 TARGET 1305 1311 SL 1295
  • SELL GOLD BELOW 1292.5 TARGET 1287.5 1281.5 SL 1297.5

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

20Jun
forex-trading3

IForex Market Trading Signals and News – 20 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – USD/JPY holds near 22-month lows after BoJ, Fed statements
  • Forex – USD/CAD trades lower after U.S., Canadian data
  • Forex – Dollar slips lower vs. euro, holds near 22-month lows vs. yen

EUR/USD
The dollar slipped lower against the euro and held steady near 22-month lows against the yen on Friday, as dowbeat U.S. data, as well as the Federal Reserve and the Bank of Japan’s decision to leave monetary policies unchanged continued to weigh on the greenback. EUR/USD edged up 0.17% to trade at 1.1244.Sentiment on the greenback remained vulnerable after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending June 11 increased by 13,000 to 277,000.In addition, the U.S. Commerce Department said consumer prices rose 0.2% in May, compared to expectations for a 0.3% gain. Year-over- year, consumer prices were 1.0% higher last month, below expectations for a 1.1% gain.

GBP/USD
GBP/USD rallied more than 1% on Friday, as momentum surrounding the “Leave” campaign slowed for the time being after officials suspended Brexit-related activities for a second straight day following the tragic murder of a British Parliament member.The currency pair traded in a broad range between 1.4199 and 1.4388 before settling at 1.4207, up 1.10% on the session. With the sharp gains, the Pound Sterling enjoyed its strongest one-day move against the dollar in more than a month. At session-lows on Thursday, the pair tested 1.40, its lowest level since early-March. The Pound has still slid more than 1.25% over the last week amid mounting concerns that voters could support a referendum to leave the European Union next Thursday. GBP/USD likely gained support at 1.3852, the low from Feb. 26 and was met with resistance at 1.4693, the high from May 27.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4190 TGT 1.4210 1.4140 SL 1.4160
  • SELL GBP/USD AROUND 1.4420 TGT 1.4440 1.4470 SL 1.4390

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

20Jun
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 20 June 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 11.86 points or 0.43% higher to 2763.42, taking the year-to-date performance to -4.14%.
  • The top active stocks today were CityDev, which gained 0.57%, DBS, which declined 0.06%, SingTel, which gained 0.27%, JMH USD, which gained 0.66% and UOB, with a 0.17% fall.
  • The FTSE ST Mid Cap Index declined 0.10%, while the FTSE ST Small Cap Index declined 1.13%.
  • The outperforming sectors today were represented by the FTSE ST Real Estate Holding and Development Index, which rose 1.06%. The two biggest stocks of the Index – Hongkong Land Holdings and Global Logistic Properties – ended 1.68% higher and 1.12% higher respectively.
  • The underperforming sector was the FTSE ST Health Care Index, which slipped 3.76%. Raffles Medical Group shares declined 4.81% and Riverstone Holdings increased 0.57%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-1.73%), STI ETF (+0.72%), iShares USD Asia Bond ETF (+0.09%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT(+2.61%), Capitamall Trust (+1.49%), Suntec Reit (+1.52%).
  • The most active index warrants by value today were : HSI20600MBeCW160728 (+2.50%), HSI21200UBeCW160929 (unchanged), HSI19400UBePW160929 (-7.57%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (unchanged), UOB MB eCW161031 (-4.65%), OCBC Bk MB ePW161227 (unchanged).

STOCK RECOMMENDATION :

  • BUY RESOURCES PRIMA ABOVE 0.029 TGT 0.031 0.033 SL 0.028

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