Daily Archives: August 3, 2016

3Aug

Comex Trading Signals and Market News – 03 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Zinc futures rose during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the spot market.However the gains in the base metal were curbed by weak global factory growth which threatened to cut demand as manufacturing in the US China and Euro area slowed in July.
  • Oil edged higher on Tuesday after falling by up to 10 percent in just one week, but investors remained concerned about oversupply weighing on prices.Global benchmark Brent crude was trading up 49 cents at $42.63 a barrel at 1031 GMT (0631 EDT). U.S. West Texas Intermediate (WTI) crude was up 38 cents at $40.44 a barrel, after briefly dipping below$40.
  • Gold prices held steady at a three-week high in European trade on Tuesday, as investors awaited fresh signals about the timing of a possible U.S. interest rate increase this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped 40 cents, or 0.03% to trade at $1,359.20 a troy ounce by 06:56GMT, or 2:56AMET, just below a three-week peak of $1,362.00 scaled last Friday.

ECONOMY NEWS :

  • China will find an appropriate time to cut interest rates and the reserve ratio requirement, the country’s state planner said in a statement posted on its website on Wednesday, without giving further details.It also said it will lower costs for firms and actively encourage private enterprises to raise capital by issuing bonds.The state planner said it would encourage cities with an oversupply of housing to further shed inventory and continue to push forward supply-side reform.
  • At least two members of the Bank of Japan’s board questioned its actions at their June meeting, minutes show, highlighting doubts about the sustainability of its policies.At the June meeting one board member called for the BOJ to reduce its bond buying while another said the BOJ had switched its focus to interest rates away from buying assets. At a subsequent meeting on July 29 the BOJ surprised investors by saying it would release a comprehensive review of its quantitative easing in September, further reinforcing the view that the BOJ’s current policy may be reaching its limit.
  • Federal health officials, scrambling to fund efforts to combat the spread of the Zika virus in the United States, said on Tuesday they have provided more stopgap money to various locales while calls grew for Congress to cut short its recess and act. Concern is mounting about the threat posed by the mosquito-borne virus after authorities in Florida last weekreported the first signs of local transmission of Zika in the continental United States.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1360 TARGET 1365 1371 SL BELOW 1355
  • SELL GOLD BELOW 1355 TARGET 1350 1344 SL ABOVE 1360

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

3Aug

IForex Market Trading Signals and News – 03 August 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – GBP/USD rises despite weak U.K. construction data
  • Forex – Yen surges to 3-week high as Japan approves stimulus package
  • Forex – Aussie holds steady after RBA rate cut, kiwi moves higher

EUR/USD
EUR/USD is currently trading with a bullish bias. Yesterday, the pair broke above a key resistance level 1.1152, headed long but has currently retraced to the just broken level. Now is the most appropriate time to look for potential low risk buy opportunities towards 1.1239 or even higher. This view can only be invalidated in case the price end up closing below 1.1152. A clear bearish breakout below 1.1152 will culminate into a possible bearish price rally towards 1.1112 or even lower. This pair should be traded alongside EUR/GBP, GBP/USD and EUR/HKD. These pairs have a strong positive correlation of up to +0.85 and will have a similar price action during this intraday.

GBP/USD
The pound rose against the U.S. dollar on Tuesday, despite the release of downbeat U.K. construction activity data, as lower expectations for a U.S. rate hike this year and downbeat U.S. data continued to weigh broadly on the greenback. GBP/USD hit 1.3238 during European morning trade, the session high; the pair subsequently consolidated at 1.3218, gaining 0.33%. 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 firm Markit and the Chartered Institute of Purchasing & Supply (CIPS) said their U.K. construction purchasing managers’ index fell to 45.9 in July from the previous month’s reading of 46.0.Economists had expected the index to drop to 43.8 in last month.The data came a day after Markit said its U.K. manufacturing PMI fell to 48.2 last month from a reading of 52.1 in June.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3260 TGT 1.3280 1.3310 SL 1.3230
  • SELL GBP/USD BELOW 1.3160 TGT 1.3130 1.3100 SL 1.3190

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

3Aug
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 03 Aug 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 35.85 points or 1.24% lower to 2856.67, taking the year-to-date performance to – 0.90%.
  • The top active stocks today were Singtel, which declined 3.11%, DBS, which declined 1.37%, UOB, which declined 1.09%, OCBC Bank, which declined 0.81% and Noble, with a 17.90% fall.
  • The FTSE ST Mid Cap Index declined 1.25%, while the FTSE ST Small Cap Index declined 0.93%.
  • 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 5.51% higher and remained unchanged respectively.
  • The underperforming sector was the FTSE ST Telecommunications Index, which slipped 2.82%. Singtel shares declined 3.11% and StarHub declined 0.25%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : STI ETF (-1.04%) ,SPDR Gold Shares (+0.72%) ,DBXT S&P CNX Nifty ETF (+0.11%).
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-0.79%) ,CapitaLand Mall Trust (+0.47%) ,Mapletree Com Trust (-1.61%)
  • The most active index warrants by value today were : NKY 15500MBePW161209 (+8.81%) ,NKY 16000MBePW160909 (+18.09%) ,CN10000MBeCW161028 (-2.56%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-13.46%) ,UOB MB eCW161031 (-13.85%) ,DBS MB ePW161201 (+5.39%).

STOCK RECOMMENDATION :

  • BUY FIRST RESOURCE ABOVE 1.650 TARGET 1.680 1.730 SL 1.600

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

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