Monthly Archives: July 2016

25Jul

Comex Trading Signals and Market News – 25 July 2016

INTERNATIONAL COMMODITY NEWS :

  • U.S. oil futures rose on Friday, but remained near two-month lows as concerns over a global supply glut continued to weigh.U.S. crude futures for September delivery added 0.25% to $44.86 a barrel, close to Wednesday’s two-month low of 43.69.On the ICE Futures Exchange in London, the September Brent contract climbed 0.52% to $46.44 a barrel, near a two-month trough of 45.84 hit overnight.
  • Gold prices slipped lower on Friday, as upbeat U.S. data released in the previous session lent support to the U.S. dollar and as the European Central Bank left the door open for further stimulus measures.On the Comex division of the New York Mercantile Exchange, gold futures for August delivery declined 0.37% to $1,326.05.
  • Silver futures were trading lower in the domestic market on Friday as speculators engaged in reducing their positions tracking a weak trend in global markets.Analysts attributed the persistent fall in silver prices at the futures trade to a weak trend in the precious metals in global market as gains in equities and a stronger dollar curbed the demand for the precious metals as a store of value.

ECONOMY NEWS :

  • Central banks from Washington to Tokyo take center stage next week, although policymakers are likely to remain cautious as they wait for the dust to settle from Britain’s shock vote to leave the EU. As they wait for political reassurances and greater clarity over the likely impact of the move, central banks have mostly avoided action since Britain’s June 23 referendum, calming jittery markets with verbal assurances but leaving the burden on governments to chart a path.
  • JPMorgan Chase & Co (N:JPM) will stop settling U.S. government securities transactions for most dealers by the end of next year as it streamlines its business, the bank said on Friday.The change would leave BNY Mellon Corp (N:BK) as the only clearing bank for such transactions between dealers and investors.In the first six months of 2016, an average of $504 billion of U.S. Treasuries changed hands per day, down slightly from a daily average of $507 billion for the same year-earlier period, according to data from the Securities Industry and Financial Markets Association.
  • Fiscal and monetary policies are becoming less effective at spurring economic activity so the world’s leading economies need to increase coordination to promote sustainable growth, China’s Finance Minister Lou Jiwei said on Saturday. Lou was speaking at the start of a meeting of Group of 20 finance ministers and central bankers in the southwestern city of Chengdu, where they will confront challenges to global growth exacerbated by Britain’s decision to leave the European Union and consider deeper structural reforms.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1326 TARGET 1331 1337 SL BELOW 1321
  • SELL GOLD BELOW 1321 TARGET 1316 1310 SL ABOVE 1326

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

25Jul
forex-trading3

IForex Market Trading Signals and News – 25 July 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – EUR/USD little changed after string of PMI reports
  • Forex – GBP/USD moves lower as U.K. PMIs add to post-Brexit fears
  • Forex – Dollar steady vs. euro, yen as focus remains on central banks

EUR/USD
The euro was little changed against the dollar on Friday, after the release of mostly positive data from the euro zone, as markets were still digesting the European Central Bank’s decision on Thursday to leave monetary policy on hold. EUR/USD was little changed at 1.1031, still close to Thursday’s one-month trough of 1.0979. The euro strengthened briefly after ECB President Mario Draghi said on Thursday that European markets weathered the post-Brexit volatility with “encouraging resilience”, but reiterated that the central bank is ready to act by using all the instruments available under its mandate if necessary.Draghi also said the euro zone recovery faces several headwinds, and the risks remain tilted to the downside, citing the UK referendum, slowing emerging markets and the slow pace of structural reforms as key threats.

GBP/USD
The pound moved lower against the U.S. dollar on Friday, after the release of downbeat economic reports from the U.K. added to concerns over the outlook for Britain’s growth following the country’s decision to leave the European Union. GBP/USD hit 1.3173 during European morning trade, the session low; the pair subsequently consolidated at 1.3175, sliding 0.42%. Cable was likely to find support at 1.3061, the low of July 20 and resistance at 1.3313, the high of July 18. Research group Markit said its flash U.K. manufacturing purchasing managers’ index fell to 49.1 in July from a reading of 52.1 in June. Economists had expected the index to fall to 47.8 this month.Meanwhile, the U.K. services PMI dropped to 47.4 in July from a reading of 52.3 in June, compared to expectations for a decline to 48.9.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3110 TGT 1.3130 1.3160 SL 1.3080
  • SELL GBP/USD BELOW 1.3060 TGT 1.3040 1.3010 SL 1.3090

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

25Jul
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 25 July 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 4.87 points or 0.17% higher to 2945.35, taking the year-to-date performance to +2.17%.
  • The top active stocks today were Singtel, which gained 1.66%, DBS, which declined 0.06%, Wilmar Intl, which declined 0.97%, UOB, which gained 0.26% and ComfortDelGro, with a 1.73% fall.
  • The FTSE ST Mid Cap Index declined 0.84%, while the FTSE ST Small Cap Index declined 0.24%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 1.48%.
  • The two biggest stocks of the Index – Singtel and StarHub – ended 1.66% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Oil & Gas Index, which slipped 1.45%. Keppel Corp shares declined 1.43% and Sembcorp Industries declined 0.35%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : Nikko AM Singapore STI ETF (-0.33%) ,SPDR Gold Shares (+0.21%) ,DBXT MSCI Taiwan ETF (-0.59%).
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+1.61%) ,Suntec REIT (-2.52%) ,CapitaLand Commercial Trust (-1.28%)
  • The most active index warrants by value today were : HSI23800UBeCW161229 (unchanged) ,HSI22000MBeCW160929 (-0.95%) ,HSI22400UBeCW161028 (+1.50%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-6.86%) ,OCBC Bk MBeCW161004 (-6.98%) ,OCBC Bk MBeCW170118 (-6.25%).

STOCK RECOMMENDATION :

  • BUY 8TELECOM ABOVE 0.150 TGT 0.160 0.170 SL 140

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

23Jul
sgx2

Singapore : Malaysian palm oil price comes off 2-week high, strong demand limits losses

SINGAPORE:

  •  “We are seeing some chart-related selling at current levels, as bargain hunting and short covering start to fade,” said one Kuala Lumpur-based trader, adding though that export sales are expected to remain strong.
  • The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange closed down 1.5 percent to 2,317 ringgit ($571.6) a tonne. On Thursday, it climbed to 2,368 ringgit, highest since July 5. Volumes stood at 32,734 by close.
  • Malaysian palm oil futures fell on Friday, after climbing to a two-week high in the prior session, although expectations of strong demand for the vegetable oil kept a floor under prices.
  • Exports of Malaysian palm oil products for July 1-20 rose 14 percent from a month earlier, data from cargo surveyor Intertek Testing Services showed, while Societe General de Surveillance reported export growth of 15.3 percent.
  • The market is awaiting the next update on export demand from cargo surveyors due on Monday.
  • “Bullish fundamentals and a weaker ringgit will cushion any attempt to sell,” the Kuala Lumpur trader said.
  • This week, the ringgit has slipped almost 3 percent, its biggest such loss in 10 months, making palm oil cheaper for holders of other currencies.

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

22Jul

Comex Trading Signals and Market News – 22 July 2016

INTERNATIONAL COMMODITY NEWS :

  • 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.

ECONOMY NEWS :

  • 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.

TRADING STRATEGY :

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

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

22Jul

IForex Market Trading Signals and News – 22 July 2016

INTERNATIONAL CURRENCY BUZZ :

  • 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
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.

GBP/USD
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.

RECOMMENDATION :

  • 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

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

22Jul
sgx

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

MARKET UPDATES :

  • 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%).

STOCK RECOMMENDATION :

  • BUY 8TELECOM ABOVE 0.129 TGT 0.138 0.148 SL 0.119

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

21Jul
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 21 July 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 26.2 points or 0.90% higher to 2945.74, taking the year-to-date performance to +2.19%.
  • The top active stocks today were Wilmar Intl, which declined 5.67%, SingTel, which gained 1.42%, DBS, which gained 0.62%, ThaiBev, which gained 3.55% and UOB, with a 0.85% advance.
  • The FTSE ST Mid Cap Index gained 0.39%, while the FTSE ST Small Cap Index rose 0.42%.
  • The outperforming sectors today were represented by the FTSE ST Technology Index, which rose 3.96%. The two biggest stocks of the Index – Silverlake Axis and CSE Global – ended 3.51% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Utilities Index, which slipped 0.73%. Keppel Infrastructure Trust shares remained unchanged and SIIC Environment Holdings declined 2.46%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : STI ETF (+0.68%) ,SPDR Gold Shares (-0.55%) ,IS MSCI India 100 (+0.70%).
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (unchanged)CapitaMall Trust (+0.92%),CapitaCom Trust (-0.64%).
  • The most active index warrants by value today were : HSI23800UBeCW161229 (+19.57%),HSI21200MBePW160830 (-15.60%),HSI22400UBeCW161028 (+17.93%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (+6.59%) ,UOB MB ePW161003 (-7.87%) ,OCBC Bk MBeCW161004 (+13.16%).

STOCK RECOMMENDATION :

  • BUY TRITECH ABOVE 0.073 TGT 0.077 0.080 SL 0.069

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

20Jul
Forex Signals

IForex Market Trading Signals and News – 20 July 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Australian, New Zealand dollars slide on rate cut bets
  • Forex – Dollar slips vs yen on profit-taking; kiwi tumbles
  • Forex – Yen at 3 1/2-week low, kiwi tumbles after c.bank housing proposals

EUR/USD
EUR/USD is currently trading with a bullish bias. Euro continues to trade within it’s consolidation range, not going below 1.1034 or above 1.1165. As long as the pair trades within this range we look to trade reversals from either levels within the range. A break above this range will culminate into a possible bullish rally towards 1.1120 or even higher to 1.1165. A break below 1.1034 will lead to a momentum to the lower side but should not go beyond 1.0936. This pair should be traded alongside EUR/JPY, GBP/USD, GBP/CHF and GBP/JPY. These pairs have a similar price action during this intraday.

GBP/USD
GBP/USD is currently trading with a slight bearish bias. Yesterday, the cable made minor retracements to the upper side but could not close beyond 1.3344. This pair is is still pretty much bearish on the daily chart and will likely remain bearish for the better parts of this intraday. Thus, during this intraday, we expect a possible bearish price rally towards 1.2905 or even lower. This pair should be traded alongside GBP/JPY, GBP/CHF, NZD/USD and AUD/USD. These pairs have a strong positive correlation of up to +0.96 and will have similar price action during this intraday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3235 TGT 1.3255 1.3285 SL 1.3205
  • SELL GBP/USD BELOW 1.3165 TGT 1.3145 1.3105 SL 1.3195

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

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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