Daily Archives: July 8, 2016

8Jul

Comex Trading Signals and Market News – 08 July 2016

INTERNATIONAL COMMODITY NEWS :

  • Copper futures were trading higher during the morning trade in the domestic market on Thursday led by rise in demand in the domestic markets tracking a weak trend in overseas markets.Analysts said that the weak cues at global markets and rise in demand at domestic spot markets followed by the release of the US Fed meeting minutes which showed that the majority of Fed members were cautious to adjust rates following poor US labour data and Brexit vote influenced the rise in copper futures.
  • Oil prices edged higher on Thursday for a second day, supported by a report of another fall in U.S. crude oil inventories and a weaker U.S. dollar, although a glut of refined products and economic growth concerns continued to loom over the market. Brent crude oil futures were trading at $49.50 per barrel at 0857 GMT on Thursday, 70 cents above their last settlement. U.S. West Texas Intermediate (WTI) crude was trading at $48.08 per barrel, up 65 cents from its last close.
  • Gold prices held near the prior session’s 28-month high in European trade on Thursday, as market players looked ahead to key U.S. employment data for more clues on the Federal Reserve’s next move.The U.S. was to release the ADP jobs report for June at 12:15GMT, or 8:15AM ET, followed byweekly jobless claims data at 12:30GMT, or 8:30AM ET. Market players are also focusing on Friday’s U.S. nonfarm payrolls report.

ECONOMY NEWS :

  • China’s urban unemployment rate at the end of June was 4.05 percent, a vice minister of the human resources ministry said on Friday, up marginally from 4.04 percent at the end of the first quarter.China created 7.17 million new urban jobs in the first half of 2016, vice minister Xin Changxing said at a press briefing.
  • Japan’s top currency diplomat, Masatsugu Asakawa, said on Friday he was watching the foreign exchange market with a sense of urgency, including how U.S. jobs data later in the day could affect it.Speaking to reporters after a meeting between officials of the Finance Ministry, Bank of Japan, and the Financial Services Agency to discuss market developments, Asakawa also said the government was ready to respond to any speculative moves.
  • U.S. state and local spending on prisons and jails grew at three times the rate of spending on schools over the last 33 years as the number of Americans behind bars ballooned under a spate of harsh sentencing laws, a government report released Thursday said.U.S. Secretary of Education John King said the report’s stark numbers should make state and local governments reevaluate their spending priorities and channel more money toward education.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1370 TARGET 1375 1381 SL BELOW 1365
  • SELL GOLD BELOW 1360 TARGET 1355 1349 SL ABOVE 1365

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

8Jul
forex-trading3

IForex Market Trading Signals and News – 08 July 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – GBP/USD off record-lows after U.K. data, still under pressure
  • Forex – Aussie falls after S&P credit rating cut, kiwi gains ground
  • Forex – USD/CAD at 1-week highs after U.S., Canadian data

EUR/USD
EUR/USD is currently trading with a bullish bias. Yesterday, instead of going short as previously forecasted, the pair rebounded from the support level 1.1040, headed long but is yet to reach our target resistance level 1.1167. During this intraday, we expect a bullish price movements towards 1.1167 or even a break above it. This pair should be traded alongside AUD/JPY, EUR/JPY, GBP/JPY and NZD/USD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

GBP/USD
The pound rose off record lows against the U.S. dollar on Thursday, boosted by the release of positive U.K. manufacturing and industrial production data, although concerns over the effects of the Brexit vote on the nation’s economy continued to weigh. GBP/USD hit 1.2999 during European morning trade, the session high and off Wednesday’s fresh 31-year lows of 1.2797; the pair subsequently consolidated at 1.2986, up 0.43%.The U.K. Office for National Statistics said that manufacturing production decreased by 0.5% in May, better than expectations for a decline of 1.0% and following a gain of 2.4% a month earlier that was revised from an initial 2.3% advance.On an annualized basis, manufacturing production rose at rate of 1.7%, better than forecasts for a 0.7% increase.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3055 TGT 1.3075 1.3105 SL 1.3025
  • SELL GBP/USD BELOW 1.2935 TGT 1.2915 1.2885 SL 1.2905

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

8Jul
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 08 July 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 2.5 points or 0.09% lower to 2862.17, taking the year-to-date performance to -0.71%.The top active stocks today were SingTel, which gained 0.48%, DBS, which declined 0.44%, UOB, which declined 1.62%, Noble Resources, which declined 29.52% and Hongkong Land USD, with a 1.45% fall.
  • The FTSE ST Mid Cap Index gained 0.07%, while the FTSE ST Small Cap Index rose 0.13%.
  • The outperforming sectors today were represented by the FTSE ST Real Estate Investment Trusts Index, which rose 0.70%. The two biggest stocks of the Index – CapitaMall Trust and Ascendas REIT – remained unchanged and ended 0.81% higher respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 1.59%. Silverlake Axis shares declined 1.85% and CSE Global declined 1.12%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+1.55%),STI ETF (unchanged),IS MSCI India 100 (unchanged)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+0.81%),Capitamall Trust (unchanged),Mapletree Com Trust (+1.71%)
  • The most active index warrants by value today were : HSI22400UBeCW161028 (-15.63%),HSI21400MBeCW160728 (-7.55%),HSI21200UBeCW160929 (-8.57%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-5.88%),OCBC Bk MBeCW161004 (+1.33%),UOB MB eCW161031 (-9.64%).

STOCK RECOMMENDATION :

  • BUY ANCHOR RESOURCES ABOVE 0.142 TGT 0.150 0.160 SL 0.132

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

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