20Jul

Comex Trading Signals and Market News – 20 July 2016

INTERNATIONAL COMMODITY NEWS :

  • The U.S. Federal Reserve on Tuesday awarded $82.27 billion of one-day, fixed-rate reverse repurchase agreements to 34 bidders at an interest rate of 0.25 percent, the New York Fed said on its website.The amount was the highest since July 6 when the Fed awarded $83.40 billion to 39 bidders.
  • Foreign exchange markets are not “disorderly” in the wake of Britain’s vote to leave the European Union and there is no need for the Group of 20 major economies to broadly agree to tame them, the International Monetary Fund’s chief economist said on Tuesday.A number of currencies have fallen sharply against the dollar since the June 23 EU referendum in Britain, including the pound, the euro and China’s yuan, while the yen has also seen more volatility as well.
  • Relying on the European Union’s securities rules to allow banks access to the single market after Britain leaves the bloc was not a “sweeping solution”, Bank of England Deputy Governor Sam Woods said on Tuesday.Banks want to maintain their “passporting” rights to the EU after Brexit so they can continue to offer their services to customers on the continent from London.

ECONOMY NEWS :

  • The U.S. Federal Reserve on Tuesday awarded $82.27 billion of one-day, fixed-rate reverse repurchase agreements to 34 bidders at an interest rate of 0.25 percent, the New York Fed said on its website.The amount was the highest since July 6 when the Fed awarded $83.40 billion to 39 bidders.
  • Foreign exchange markets are not “disorderly” in the wake of Britain’s vote to leave the European Union and there is no need for the Group of 20 major economies to broadly agree to tame them, the International Monetary Fund’s chief economist said on Tuesday.A number of currencies have fallen sharply against the dollar since the June 23 EU referendum in Britain, including the pound, the euro and China’s yuan, while the yen has also seen more volatility as well.
  • Relying on the European Union’s securities rules to allow banks access to the single market after Britain leaves the bloc was not a “sweeping solution”, Bank of England Deputy Governor Sam Woods said on Tuesday.Banks want to maintain their “passporting” rights to the EU after Brexit so they can continue to offer their services to customers on the continent from London.

TRADING STRATEGY :

  • SELL GOLD BELOW 1330 TGT 1325-1317 SL ABOVE 1338
  • BUY GOLD ABOVE 1340 TGT 1345-1355 SL BELOW 1332

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

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