Daily Archives: August 10, 2016

10Aug

Comex Trading Signals and Market News – 10 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil edged further above $45 a barrel on Tuesday as forecasts for a drop in U.S. inventories and speculation of producer action to prop up prices countered concern about a supply glut.Total U.S. crude inventories were expected to fall by 1 million barrels in weekly reports, although market intelligence firm Genscape has reported a rise of more than 307,000 barrels at the Cushing, Oklahoma U.S. crude delivery hub, traders said.
  • Gold prices slumped to a one-week low in European trade on Tuesday, amid growing expectations of a U.S. interest rate hike by the end of this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange fell to a session low of $1,336.70 a troy ounce, the weakest since July 29. It was last at $1,337.15 by 06:59GMT, or 2:59AM ET, down $4.15, or 0.31%.
  • Copper futures fell during late noon trade in the domestic market on Tuesday as investors and speculators cut positions in the industrial metal as improved China inflation data dimmed the case for fresh policy easing dampening demand prospects.China’s producer prices fell 1.7 per cent year on year in July 2016 marking the smallest decline in nearly two years while consumer inflation stood at 2 per cent matching analysts’ estimates.

ECONOMY NEWS :

  • Indonesia’s President Joko Widodo is considering cutting the corporate tax rate to 17 percent from 25 percent to match Singapore’s tax rate, he was quoted as saying on the cabinet secretary’s website on Wednesday.”The thinking is simple. If Singapore’s corporate income tax is 17 percent and ours is 25 percent, everybody will go there,” Widodo told a tax amnesty roadshow on Tuesday night, according to the website.
  • Several U.S. states studied by S&P Global Ratings are ill-equipped to deal with an economic recession, hampered by the slow rebound in U.S. economic growth after the damage wrought by the Great Recession.Fiscal imbalances, slower state tax revenue growth and increased spending on social services have contributed to a challenging economic landscape, as real GDP has only increased at 2.1 percent per year since 2009, S&P said in a report issued on Tuesday.
  • U.S. household debt hit $12.29 trillion in the second quarter, up $434 billion from a year earlier as auto loans and credit card debt increased, a Federal Reserve Bank of New York survey showed on Tuesday.Some 4.8 percent of the outstanding debt was in some stage of delinquency, down from 5.6 percent from a year ago, according to the quarterly household debt and credit report.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1334 TARGET 1339 1345 SL BELOW 1329
  • SELL GOLD BELOW 1328 TARGET 1323 1317 SL ABOVE 1333

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

10Aug
forex-trading3

IForex Market Trading Signals and News – 10 August 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – GBP/USD falls to fresh 1-month lows on U.K. data
  • Forex – Aussie, kiwi move lower vs. broadly stronger greenback
  • Forex – Aussie down after weak NAB surveys, China prices for July

EUR/USD
EUR/USD is currently trading with a bearish bias. Yesterday, Euro dropped sharply but could not close below 1.1073. The level 1.1073 is a key short term support level and will require a bit of bearish pressure to break below. But as long as the level protects the lower side we expect a possible bullish rebound from this level to go long with an ideal target at 1.111 and 1.1159. This pair should be traded alongside AUD/USD, GBP/USD, NZD/USD and EUR/HKD. These pairs have a strong positive correlation of up to +0.93 and will have a similar price action during this intraday.

GBP/USD
The pound fell to fresh one-month lows against the U.S. dollar on Tuesday, after the re- lease of downbeat U.K. manufacturing data added to concerns over the strength of the British economy.GBP/USD hit 1.2968 during European morning trade, the pair’s lowest since July 11; the pair subsequently consolidated at 1.2978, declining 0.47%. Cable was likely to find support at 1.2848, the low of July 11 and resistance at 1.3178, the high of August 5. The U.K. Office for National Statistics said manufacturing production decreased by 0.3% in June, worse than expectations for a decline of 0.2% and following a drop of 0.6% a month earlier that was revised down from an initial 0.5% decrease.On an annualized basis, manufacturing production rose 0.9% in June, worse than forecasts for a 1.3% increase.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3047 TGT 1.3067 1.3097 SL 1.3017
  • SELL GBP/USD BELOW 1.2960 TGT 1.2940 1.2910 SL 1.2990

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

10Aug
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 10 Aug 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 42.61 points or 1.51% higher to 2870.78, taking the year-to-date performance to – 0.41%.
  • The top active stocks today were Singtel, which gained 3.19%, DBS, which gained 1.42%, UOB, which gained 0.73%, OCBC Bank, which gained 2.17% and ComfortDelGro, with a 2.87% advance.
  • The FTSE ST Mid Cap Index gained 0.02%, while the FTSE ST Small Cap Index rose 0.06%.
  • The outperforming sectors today were represented by the FTSE ST Telecommunications Index, which rose 2.80%.
  • The two biggest stocks of the Index – Singtel and StarHub – ended 3.19% higher and 1.27% lower respectively.
  • The underperforming sector was the FTSE ST Health Care Index, which slipped 1.17%. Raffles Medical Group shares declined 1.30% and Riverstone Holdings declined 1.12%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : DBXT MSCI Indonesia ETF (+1.83%) ,SPDR Gold Shares (-2.27%) ,IS MSCI India (+1.79%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : CapitaLand Mall Trust (+2.80%) ,Ascendas REIT (-0.81%) ,CapitaLand Commercial Trust (+1.96%)
  • The most active index warrants by value today were : HSI23800UBeCW161229 (+16.19%) ,HSI22400UBeCW161028 (+24.55%) ,HSI23000MBeCW160929 (+25.00%)
  • The most active stock warrants by value today were : DBS MB ePW161201 (-8.22%) ,UOB MB eCW161031 (+6.00%) ,UOB MB ePW161201 (-5.00%).

STOCK RECOMMENDATION :

  • BUY CHIWAYLAND INTL ABOVE 0.127 TGT 0.137 0.147 SL 0.117

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

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