Daily Archives: August 2, 2016


Comex Trading Signals and Market News – 02 August 2016


  • Oil prices fell back towards April lows in North American trade on Monday, reapproaching bear market territory as signs of increasing production in the U.S. and rising output among members of the Organization of the Petroleum Exporting Countries weighed.Crude oil for September delivery on the New York Mercantile Exchange fell to a session low of $40.88 a barrel.
  • Gold prices edged lower in European trade on Monday, as investors looked to buy into rising equity markets rather than purchasing safe-haven assets, but prices held near three-week highs amid waning expectations that the Federal Reserve will raise interest rates anytime soon.
  • Silver futures were trading higher during the afternoon trade in the domestic market on Monday as traders widened their bets tracking a firm trend at global markets. Silver rallied as speculative position created by participants driven by firm global trend as the dollar weakened and the US economy grew less-than-expected in the second quarter boosting demand for the precious metals as a store of value supported the prices of white metal at the futures trade.


  • Prime Minister Theresa May will on Tuesday outline her bid to reshape the British economy for a post-Brexit world, reviving the once unfashionable concept of industrial policy 30 years after Margaret Thatcher killed it off. May will chair the first meeting of the “Cabinet Committee on Economy and Industrial Strategy” in her Downing Street Offices, bringing together the heads of 11 other ministries to set out her vision for a state-boosted industrial renaissance.
  • Banks tightened lending standards for commercial and industrial loans in the second quarter, according to a survey of loan officers released on Monday by the Federal Reserve.At the same time, lending standards to households were little changed overall compared to the previous quarter.Most banks said their reasons for more stringent standards in lending to businesses were “a less favorable or more uncertain economic outlook, worsening of industry-specific problems, and reduced tolerance for risk,” the survey said.
  • Japanese Prime Minister Shinzo Abe’s cabinet is set to approve on Tuesday 13.5 trillion yen ($132.04 billion) in fiscal steps as part of efforts to revive the flagging economy with cash payouts to low-income earners and infrastructure spending. The package is expected to include 7.5 trillion yen in spending by the national and local governments, and earmarks 6 trillion yen from the Fiscal Investment and Loan Programme, which is not included in the government’s general budget.


  • BUY GOLD ABOVE 1350.2 TARGET 1355.2 1361.2 SL BELOW 1345.2
  • SELL GOLD BELOW 1346.5 TARGET 1341.5 1335.5 SL ABOVE 1351.5

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Forex Signals

IForex Market Trading Signals and News – 02 August 2016


  • Forex – GBP/USD edges lower on weak U.K. PMI report
  • Forex – Aussie holds steady, kiwi edges higher in late trade
  • Forex – Aussie retraces earlier losses as China PMIs diverge

EUR/USD is currently trading with a bearish bias. During the previous trading day on 29th July 2016, the pair traded perfectly long as previously forecasted and even hit our target resistance level 1.1185. We expect this level to mark the end of the five wave cycle with wave (5) ending at 1.1185-1.1188. Any bearish rebound from this level will signal the unfolding of a corrective three wave cycle to the lower side while a break above it will lead to a possible bullish price rally towards 1.1386. This pair should be traded alongside EUR/HKD, EUR/SGD, GBP/USD, AUD/USD, and NZD/USD. These pairs have a strong positive correlation of up to +0.93 and will have a similar price action during this intraday.

The pound edged lower against the U.S. dollar on Monday, after the contraction in U.K. manufacturing activity in July was confirmed to be worse that initially estimated, fueling further concerns over the outlook for growth in Britain.GBP/USD hit 1.3201 during European morning trade, the session low; the pair subsequently consolidated at 1.3208, slipping 0.14%. Cable was likely to find support at 1.3070, the low of July 27 and resistance at 1.3305, the high of July 29.Research group Markit said its U.K. manufacturing purchasing managers’ index fell to 48.2 last month from a reading of 52.1 in June.It was the lowest level since early 2013 and worse than a preliminary report released on July 22 that had shown a drop to 49.1 in July.


  • BUY GBP/USD ABOVE 1.3310 TGT 1.3340 1.3370 SL 1.3280
  • SELL GBP/USD BELOW 1.3100 TGT 1.3080 1.3050 SL 1.3130

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Financial Sgx Singapore Stock Market Trading Picks And News – 02 Aug 2016


  • The Straits Times Index (STI) ended 20.94 points or 0.73% higher to 2889.63, taking the year-to-date performance to +0.24%.
  • The top active stocks today were Singtel, which gained closed unchanged, DBS, which declined 0.32%, UOB, which gained 0.50%, OCBC Bank, which gained 0.70% and CapitaLand, with a 2.52% advance.
  • The FTSE ST Mid Cap Index gained 0.31%, while the FTSE ST Small Cap Index declined 0.53%.
  • The outperforming sectors today were represented by the FTSE ST Consumer Services Index, which rose 1.61%.
  • The two biggest stocks of the Index – ComfortDelGro Corp and Singapore Press Holdings- ended 0.36% higher and 1.59% higher respectively.
  • The under performing sector was the FTSE ST Industrials Index, which slipped 0.87%. Jardine Matheson Holdings shares declined 2.53% and Jardine Strategic Holdings ended 0.26% higher.
  • The three most active Exchange Traded Funds (ETFs) by value today were : DBXT MSCI Asia Ex Japan ETF (unchanged) ,IS MSCI India (-4.40%) ,SPDR Gold Shares (+1.29%).
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (+2.86%) ,CapitaLand Mall Trust (+0.47%) ,CapitaLand Commercial Trust (+1.33%).
  • The most active index warrants by value today were : HSI23800UBeCW161229 (+7.84%) ,HSI21200MBePW160830 (-30.14%) ,HSI22400UBeCW161028 (+16.00%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-7.14%) ,OCBC Bk MBeCW170118 (+2.33%) ,UOB MB eCW161031 (+1.56%).


  • BUY PARKSON RETAIL ABOVE 0.160 TARGET 0.165 0.172 SL 0.155

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