Daily Archives: July 7, 2016


Comex Trading Signals and Market News – 07 July 2016


  • Oil prices edged lower on Wednesday, extending losses to a third straight session, as a stronger dollar weighed and economic concerns rose following Britain’s vote to leave the European Union.Investors also awaited data on U.S. crude inventories, delayed due to Monday’s Independence Day holiday.Global benchmark Brent futures were down 30 cents at $47.66 a barrel at 0852 GMT after a 4.1 percent drop on Tuesday.
  • Gold rallied to its highest since 2014 on Wednesday and oil struggled to recover from deep losses, as renewed fears over the impact of Britain’s exit from the European Union pushed investors toward safe havens.Risk aversion gripped markets – Asian stocks tumbled and sterling plumbed a 31-year low – amid worries global efforts to boost liquidity may not be enough to cushion the impact of Brexit.
  • Silver futures closed higher in the domestic market on Monday as investors continued to search for safety tracking positive cues from overseas amid talk of fresh central-bank stimulus to avoid economic damage from Brexit. Analysts said widening of bets by participants after silver rallied to near a two-year high as investors speculated central banks will have to continue supporting the economy in the wake of Britain’s vote to leave the EU influenced white metal prices at futures trade.


  • The Chinese government’s call to the nation to build an innovation-driven economy from the top down has sparked a rush by local governments to construct new buildings in the name of supporting creativity.Innovation centers have been popping up around the country and are set to more than double to nearly 5,000 in the next five years, according to internet research firm iiMedia. The only problem for local governments; entrepreneurs are not moving in.
  • Analysts have nudged up their outlook for the Australian and New Zealand dollars as relatively high bond rates at home and a plunge in the British pound made the Antipodean currencies more attractive to yield-hungry investors.A Reuters poll of 55 analysts saw the Aussie at $0.7300 in one month, a cent higher than in the June poll. Still, the general expectations was that it would ease over time reaching $0.7200 in three months and $0.7000 in a year.
  • Brazil will likely raise taxes lower next year to reduce a key budget deficit to between 150 and 160 billion reais ($48.06 billion), congressman Arthur de Lira told Reuters on Wednesday after a meeting with government officials to discuss the target.Lira said the government’s economic team will meet again early on Thursday to decide on the target for the primary budget deficit, or the public sector’s shortfall before interest debt payments.


  • BUY GOLD ABOVE 1375 TARGET 1380 1386 SL 1370
  • SELL GOLD BELOW 1364.4 TARGET 1359.4 1353.4 SL 1369.4

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IForex Market Trading Signals and News – 07 July 2016


  • Forex – Pound off fresh 31-year lows but below $1.30
  • Forex – Aussie and kiwi move lower as Brexit fears persist
  • Forex – Pound drops over 1% in Asia on Brexit views, yen soars

EUR/USD is showing little movement on Wednesday, following losses in the Tuesday session. The pair is trading at 1.1060. On the release front, German Factory Orders disappointed with a flat reading of 0.0%, shy of the estimate of 1.0%. The US will release ISM Non-Manufacturing PMI, with the estimate standing at 53.3 points. The spotlight will be on the central banks, as ECB President Mario Draghi addresses an ECB event in Frankfurt, while the Federal Reserve will release the minutes of its June policy meeting. On Thursday, employment numbers will be in focus, with the release of ADP Nonfarm Employment Change and Unemployment Claims.

The pound bounced off fresh 31-year lows against the U.S. dollar on Wednesday, but still remained below the $1.30 threshold amid mounting concerns over the effects of the Brexit vote on the British economy.GBP/USD hit 1.2797 during European morning trade, a fresh 31-year low; the pair subsequently consolidated at 1.2937, down 0.64%.The pound came under broad selling pressure after the Bank of England warned on Tuesday of “challenging” risks to financial stability fol- lowing the Brexit vote and eased regulatory requirements on the banking sector.BoE Governor Mark Carney said the move represented a “major change” that would help the economy to cope with the Brexit consequences.In its bi-annual financial stability report, the BoE said the risks it had feared ahead of the Brexit poll had started to materialise, as sterling plunged to 31-year lows and as financial stocks tumbled 20%.


  • BUY GBP/USD ABOVE 1.3000 TGT 1.3020 1.3050 SL 1.2970
  • SELL GBP/USD AROUND 1.3196 TGT 1.3176 1.3146 SL 1.3226

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


  • The Straits Times Index (STI) ended 5.89 points or 0.21% lower to 2864.67, taking the year-to-date performance to –
  • The top active stocks today were SingTel, which closed unchanged, DBS, which declined 0.19%, Noble, which closed unchanged, OCBC Bank, which gained 0.34% and UOB, with a 0.32% fall.
  • The FTSE ST Mid Cap Index gained 0.03%, while the FTSE ST Small Cap Index declined 0.15%.
  • The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 1.98%. The two biggest stocks of the Index – Silverlake Axis and CSE Global – ended 2.86% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Utilities Index, which slipped 1.08%. Keppel Infrastructure Trust shares remainedunchanged and SIIC Environment Holdings declined 2.31%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-0.35%), IS MSCI India 100 (-0.85%), STI ETF (-0.69%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-1.20%), Capitamall Trust (-0.91%), Mapletree Commercial Trust (-3.31%)
  • The most active index warrants by value today were : HSI21400MBeCW160728 (-27.40%), HSI22400UBeCW161028 (-20.00%), HSI20000MBePW160728 (+23.26%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-2.30%), OCBC Bk MBeCW161004 (-2.60%), DBS MB ePW161003 (-1.52%).


  • BUY NOBLE ABOVE 0.205 TGT 0.220 0.230 SL 0.195

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