Daily Archives: August 22, 2016

22Aug

Comex Trading Signals and Market News – 22 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil prices settled steady to higher on Friday, with U.S. crude posting its biggest weekly gain since March after surging nearly 25 percent in a little over two weeks, a rally analysts cautioned was not justified by fundamentals.Crude futures have risen almost $10 a barrel since early August on speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries will agree next month to a production freeze deal with non-OPEC producers led by Russia.
  •  Gold fell sharply amid a resurgent dollar, as investors await a highly-anticipated appearance from Janet Yellen at next  week’s monetary policy symposium in Jackson Hole for more clarity on the Federal Reserve’s uncertain interest rate outlook.On the Comex division of the New York Mercantile Exchange, Gold for December delivery traded between $1,342.05 and $1,357.80 an ounce before settling at $1,346.25, down 10.95 or 0.81% on the session.
  • Silver futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for silver as an alternative  asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming demand.

ECONOMY NEWS

  • The Bank of Japan will not rule out deepening a cut to negative rates it introduced in February, the Sankei newspaper  quoted Governor Haruhiko Kuroda as saying, even as the controversial policy has failed to spur inflation or economic growth.In an interview with the daily, Kuroda said the BOJ’s negative rate policy has not reached its limits.

 

  • The latest judicial probe into Monte dei Paschi di Siena (MI:BMPS) is a procedural necessity but it could still damage Italy’s third-largest bank as it seeks to solve its financial woes, the lender’s chief executive said on Friday.CEO Fabrizio Viola and former chairman Alessandro Profumo are under investigation for alleged false accounting and market manipulation in a case involving derivatives trades, Reuters reported on Thursday.
  •  British Prime Minister Theresa May will not begin formal divorce talks on leaving the European Union before the end of  the year, a government spokeswoman said on Friday.Bloomberg cited unidentified officials as saying that May is sympathetic to the case for acting by April at the latest.”We don’t recognize this briefing,” a Downing Street spokeswoman said when asked about the report.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1345 TGT 1352-1360 SL BELOW 1338
  • SELL GOLD BELOW 1335 TGT 1328-1322 SL ABOVE 1342

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

 

22Aug
forex2

IForex Market Trading Signals and News – 22 August 2016

INTERNATIONAL CURRENCY BUZZ

  • Forex – GBP/USD slides lower despite positive U.K. data.
  • Forex – Yen weaker in early Asia as markets eye Fed debate on rate hikes.
  • Forex – Dollar moves higher vs. rivals, bounces off 7-week trough.

EUR/USD
EUR/USD is currently trading with a bearish bias. Yesterday, the pair traded long as previously forecasted but is yet to reach our target resistance level at 1.13866. Euro is still pretty much bullish on the daily chart and may head further to the upper side. We expect the current downward movement to be a mere corrective pullback and should not go beyond 1.13080 from where we’ll be looking for potential low risk buy opportunities. This pair be traded alongside EUR/JPY, GBP/USD, NZD/USD and AUD/USD. 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 slid lower against the U.S. dollar on Friday, despite the release of positive data from the U.K., as Thursday’s upbeat U.S. economic reports continued to lend support to the greenback.GBP/USD hit 1.3112 during European morning trade, the session low; the pair subsequently consolidated at 1.3115, declining 0.43%.Cable was likely to find support at 1.2976, Wednesday’s low and resistance at 1.3449, the high of August 4.The U.K. Office for National Statistics said that public sector net borrowing declined by £1.47 billion in July, compared to expectations for a £1.20 billion fall.Public sector net borrowing in creased by £7.51 billion in June, whose figure was revised from a previously estimated £7.31 billion gain.But the dollar remained supported after data on Thursday showed that initial jobless claims decreased by 4,000 to 262,000 last week, compared to expectations for a 1,000 decline to 265,000.

RECOMMENDATION :

  • BUY GBPUSD ABOVE 1.3087 TGT 1.3107 1.3137 SL 1.3057
  • SELL GBPUSD BELOW 1.3048 TGT 1.3028 1.2998 SL 1.3078

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

22Aug
sgx

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

MARKET UPDATES :

  • The Straits Times Index (STI) ended 2 points or 0.07% higher to 2838.98, taking the year-to-date performance to -1.52%.
  • The top active stocks today were DBS, which gained 0.68%, Singtel, which declined 0.24%, CapitaLand, which closed unchanged, UOB, which closed unchanged and CapitaLand Mall Trust, with a 1.88% advance.
  • The FTSE ST Mid Cap Index gained 0.45%, while the FTSE ST Small Cap Index rose 0.51%.
  • The outperforming sectors today were represented by the FTSE ST Basic Materials Index, which rose 0.94%. The two biggest stocks of the Index – Midas Holdings and Geo Energy Resources- ended unchanged and 0.96% higher respectively.
  • The underperforming sector was the FTSE ST Telecommunications Index, which slipped 0.62%. Singtel shares declined 0.24 % and StarHub gained 0.52 %.
  • The three most active Exchange Traded Funds (ETFs) by value today were:IS MSCI India (+0.14%) ,iShares USD Asia Bond ETF (+1.08%) ,STI ETF (unchanged)
  • The three most active Real Estate Investment Trusts (REITs) by value were:CapitaLand Mall Trust (+1.88%) ,Ascendas REIT (-1.22%) ,Mapletree GCC Trust (+0.91%)
  • The most active index warrants by value today were:
    HSI23000MBeCW160929 (-12.80%) ,HSI22800VTeCW160929 (-6.16%) ,HSI23800UBeCW161229 (-7.86%)
  • The most active stock warrants by value today were:
    DBS MB eCW170201 (+3.88%) ,SGX VT eCW161212 (-1.49%) ,DBS MB ePW170201 (-4.76%).

STOCK RECOMMENDATION :

  • BUY BAKER TECHNOLOGY ABOVE 0.570 TGT 0.600 0.630 SL 0.540.

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

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.