Daily Archives: August 4, 2016


Comex Trading Signals and Market News – 04 August 2016


  • Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an industry report showing a fall in U.S. inventories and a weaker dollar.But prices could struggle to make much headway, analysts said, as sentiment remains bearish. A supply glut that has weighed on prices could increase if oil exports actually restart from ports in Libya that have been closed since 2014.
  • Gold prices held steady below a two-year high in European trade on Wednesday, as investors looked ahead to key U.S.data later in the session to gauge the health of the world’s largest economy and whether it is strong enough to warrant an interest rate hike later this year.The U.S. is due to release the ADP jobs report for July at 12:15GMT, or 8:15AM ET, with market analysts expecting a gain of 170,000 private sector payrolls.
  • Nickel futures rose during evening trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the spot market. A pickup in the 19-member Euro Area economy also bolstered the demand outlook for the metal as a combined gauge measuring manufacturing and services in the Euro area climbed to 53.2 in July from 53.1 in June with a reading above 50 signaling expansion.


  • Bank of Japan Deputy Governor Kikuo Iwata said on Thursday that a comprehensive review of the central bank’s monetary policy due next month would focus on the transmission mechanism and obstacles to its monetary policy. The review is not meant to transmit a specific direction for future monetary policy, Iwata said, according to the text of a speech.
  • A constitutional amendment proposed by interim President Michel Temer to put a ceiling on Brazil’s public spending will pass the lower house this year but not the Senate until 2017, lower chamber Speaker Rodrigo Maia said on Wednesday. The proposed cap is the cornerstone of Temer’s strategy to plug a bulging deficit inherited from the Workers Party government of suspended President Dilma Rousseff, yet its impact on fiscal accounts will be delayed until it wins Senate approval next year.
  • The Bank of England is poised to cut interest rates for the first time since 2009 later on Thursday, as Britain’s economy teeters on the brink of recession after June’s vote to leave the European Union.Although the BoE wrong-footed financial experts three weeks ago by leaving rates unchanged, the central bank said most of its policymakers were likely to support action in August as post-referendum uncertainty depressed the economy.


  • BUY GOLD ABOVE 1365 TARGET 1370 1376 SL BELOW 1360
  • SELL GOLD BELOW 1361 TARGET 1356 1350 SL ABOVE 1366

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IForex Market Trading Signals and News – 04 August 2016


  • Forex – GBP/USD slips lower after U.K. data, eyes on BoE meeting
  • Forex – Aussie and kiwi move lower in late trade
  • Forex – Yen holds weaker in Asia as signals grow for BoJ policy changes

EUR/USD is currently trading with a bullish bias. Yesterday, the pair traded perfectly long as previously forecasted but is yet to reach our set target resistance level at 1.1239. The daily candle is still pretty much bullish and will likely push the price further to the upper side. Thus, during this intraday, we expect a possible bullish price rally towards 1.1239 or even higher to 1.1264. This pair should be traded alongside EUR/JPY, AUD/USD, NZD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

The pound slipped lower against the U.S. dollar on Wednesday, after data showed that U.K. service sector activity contracted for the first time in more than three years and as investors eyed the Bank of England’s policy meeting on Thursday. GBP/USD hit 1.3287 during European morning trade, the session low; the pair subsequently consolidated at 1.3334, edging down 0.17%.Cable was likely to find support at 1.3169, the low of August 2 and resistance at 1.3480, the high of July 15.Research group Markit said its U.K. services purchasing managers’ index dropped to 47.4 last month from a reading of 52.3 in June. It was the lowest level since December 2012.The weak data added to expectations for a rate cut by the BoE at its policy meeting on Thursday.


  • BUY GBP/USD ABOVE 1.3370 TGT 1.3390 1.3430 SL 1.3340
  • SELL GBP/USD BELOW 1.3160 TGT 1.3130 1.3100 SL 1.3190

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Financial Sgx Singapore Stock Market Trading Picks And News – 04 Aug 2016


  • The Straits Times Index (STI) ended 31.57 points or 1.11% lower to 2825.1, taking the year-to-date performance to – 2.00%.
  • The top active stocks today were UOB, which declined 0.83%, Singtel, which gained 0.25%, DBS, which declined 0.40%, OCBC Bank, which declined 2.79% and Noble, with a 0.75% fall.
  • The FTSE ST Mid Cap Index declined 0.37%, while the FTSE ST Small Cap Index rose 0.14%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 0.10%.
  • The two biggest stocks of the Index – Singtel and StarHub – ended 0.25% higher and 1.52% lower respectively.
  • The underperforming sector was the FTSE ST Technology Index, which slipped 2.63%. Silverlake Axis shares declined 1.74% and CSE Global declined 1.09%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+0.45%) ,STI ETF (-0.35%) ,DBXT FT China 25 ETF (-0.71%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Ascendas REIT (-1.60%) ,CapitaLand Mall Trust (-1.85%) ,Mapletree Com Trust (+0.66%)
  • The most active index warrants by value today were : HSI23800UBeCW161229 (-18.18%) ,HSI22200MBeCW160929 (-25.74%) ,HSI21200MBePW160830 (+53.33%)
  • The most active stock warrants by value today were : DBS MB eCW161031 (-8.89%) ,DBS MB ePW161201 (-0.73%) ,UOB MB eCW161031 (-7.14%).


  • BUY CHINA AVIATION ABOVE 1.545 TARGTE 1.600 1.650 SL 1.460

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