Daily Archives: July 22, 2016


Comex Trading Signals and Market News – 22 July 2016


  • Oil prices moved slightly higher on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks, although an overall build in oil inventories capped gains.U.S. West Texas Intermediate crude for September delivery (CLc1), the new front-month contract from Thursday, was up 15 cents at $45.90 a barrel at 0800 GMT.
  • Gold prices added to overnight losses in European trade on Thursday, falling to a new three-week low amid renewed expectations for a Federal Reserve rate hike later this year.Gold for August delivery on the Comex division of the New York Mercantile Exchange fell to a session low of $1,310.70 a troy ounce, a level not seen since June 24.
  • Aluminium futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sideline amid muted physical demand for aluminium in the domestic spot market. At the MCX Aluminium futures for July 2016 contract is trading at Rs 109.55 per 10 grams down by 0.18 per cent after opening at Rs 109.75 against a previous close of Rs 109.75. It touched the intra-day low of Rs 109.50.


  • A Chinese central bank official said tax cuts would be a more effective way of stimulating the economy than interest rate cuts, with firms still unwilling to invest, the National Business Daily reported on Friday.Sheng Songcheng, director of the Survey and Statistics Department at the People’s Bank of China, said enterprises were caught in a liquidity trap and regulators should focus more on fiscal policy adjustments, the paper said.
  • Japan is likely to miss its deficit-cutting target in fiscal 2018 because the government has delayed a sales tax hike by more than two years, public broadcaster NHK said on Friday, citing an unidentified source. The Cabinet Office now forecasts the primary budget deficit will be 1.9 percent of gross domestic product in fiscal 2018 from 1.7 percent it projected in January, NHK said.Prime Minister Shinzo Abe’s government has a target of reducing the primary budget deficit to 1 percent of GDP in fiscal 2018.
  • Along a cobblestoned row of restaurants near the Cleveland arena hosting this week’s Republican National Convention, the crowds on the sidewalk were shoulder to shoulder.But just a few blocks from the television cameras and T-shirt stands selling Donald Trump merchandise, traffic was light. The four-day convention ending Thursday actually hurt business, shopkeepers said.


  • BUY GOLD ABOVE 1323.5 TARGET 1328.5 1334.5 SL BELOW 1318.5
  • SELL GOLD BELOW 1310 TARGET 1305 1299 SL ABOVE 1315

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IForex Market Trading Signals and News – 22 July 2016


  • Forex – GBP/USD edges lower after weak U.K. retail sales data
  • Forex – Aussie rises, kiwi declines after RBNZ update
  • Forex – Kiwi holds weaker after RBNZ views, yen, Aussie also down

EUR/USD bounced off near four-month lows, spiking after Mario Draghi sent strong indications that the European Central Bank could be ready to use a wide array of easing tools in the coming months to bolster the economy following Thursday’s decision to hold interest rates steady. The currency pair rose to a session-high of 1.1060 as Draghi spoke at a news conference in Frankfurt, before falling back slightly to 1.1028 at the close of U.S. afternoon trading, up 0.0012 or 0.12% on the session. Despite the slight gains, the euro is still down by more than 3% versus the U.S. Dollar since last month’s historic Brexit referendum. Over the last month, EUR/USD has remained in range-bound trade between 1.09 and 1.12, amid a relative lack of data on the long-term ramifications of the U.K.’s decision to leave the European Union.

The pound edged lower against the U.S. dollar on Thursday, after the release of a weak U.K. retail sales report added to concerns over the outlook for British economic growth, although upbeat public sector borrowing data lent some support. GBP/USD hit 1.3161 during European morning trade, the session low; the pair subsequently consolidated at 1.3183, shedding 0.16%. Cable was likely to find support at 1.3061, Wednesday’s low and resistance at 1.3480, the high of July 15. The U.K. Office for National Statistics said that retail sales dropped 0.9% in June, compared to the prior 0.9% gain. Analysts had expected retail sales to fall 0.6% last month. Year-on- year, retail sales increased 4.3%, compared to May’s 5.7% gain which was revised from the initial reading of a 6.0% gain. Consensus had forecast a 5.0% rise.


  • BUY GBP/USD ABOVE 1.3275 TGT 1.3295 1.3325 SL 1.3255
  • SELL GBP/USD BELOW 1.3200 TGT 1.3180 1.3150 SL 1.3230

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Financial Sgx Singapore Stock Market Trading Picks And News – 22 July 2016


  • The Straits Times Index (STI) ended 5.26 points or 0.18% lower to 2940.48, taking the year-to-date performance to +2.00%.
  • The top active stocks today were Singtel, which declined 1.63%, DBS, which gained 0.43%, Wilmar Intl, which
    declined 1.58%, SMRT, which gained 6.47% and SPH, with a 1.84% fall.
  • The FTSE ST Mid Cap Index gained 0.39%, while the FTSE ST Small Cap Index rose 0.35%.
  • The outperforming sectors today were represented by the FTSE ST Health Care Index, which rose 1.96%. The two biggest stocks of the Index – Raffles Medical Group and Riverstone Holdings – ended 2.56% higher and remained unchanged.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 1.57%. Silverlake Axis shares declined 1.70% and CSE Global increased 2.17%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (-0.37%) ,STI ETF (unchanged) ,DBXT MSCI Indonesia ETF (-0.14%).
  • The three most active Real Estate Investment Trusts (REITs) by value were : CapitaLand Mall Trust (+1.37%) ,Ascendas REIT (unchanged), CapitaLand Commercial Trust (unchanged).
  • The most active index warrants by value today were : HSI23800UBeCW161229 (+8.18%) ,HSI22400UBeCW161028 (+6.40%) ,HSI21200MBePW160830 (-6.52%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (+5.16%) ,OCBC Bk MBeCW161004 (unchanged) ,UOB MB ePW161003 (-2.44%).


  • BUY 8TELECOM ABOVE 0.129 TGT 0.138 0.148 SL 0.119

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