Daily Archives: August 24, 2016

24Aug

Comex Trading Signals and Market News – 24 August 2016

INTERNATIONAL COMMODITY NEWS

  • Nickel futures were trading lower during the evening trade in the domestic market on Tuesday as speculators cut down their bets led by fall in demand from alloy-makers at the domestic spot market amid tracking weak trend overseas.Further a drop in domestic demand for nickel was mainly in-line with a weak trend overseas as most industrial metals retreated following comments from a US Federal Reserve official which bolstered speculation that US borrowing costs will rise this year.
  •  Oil fell below $49 a barrel on Tuesday, giving up part of August’s strong rally, as signs of rising supply outweighed  hopes that producing nations will agree steps to support prices.A Nigerian militant group, which has claimed a wave of attacks on oil facilities, said at the weekend it was ready for a ceasefire and Iraq resumed pumping through a northern pipeline halted earlier this year.
  •  Gold prices struggled for direction in European trade on Tuesday, pausing after two days of declines, as markets looked ahead to a speech by Federal Reserve Chair Janet Yellen later this week that could shed light on the timing of a U.S interest rate hike.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped 25 cents, or 0.02%, to trade at $1,343.15 a troy ounce by 2:52AM ET (06:52GMT).

ECONOMY NEWS

  • Making money amid Mongolia’s deepening economic crisis, currency dealers thronging the black markets of Ulaanbaatar wave wads of American dollars and Chinese yuan, warning desperate customers that foreign banknotes are becoming scarcer by the day.The Naiman Sharga market, close to the Mongolian capital’s cluttered and impoverished “ger” or tent districts, has become a daily destination for residents panicked by a precipitous decline in the currency,the tugrik.
  •  World Bank President Jim Yong Kim on Tuesday formally launched a bid for a second five-year term as head of the multilateral development lender, whose board pledged an “open, merit-based, and transparent” selection process.Kim,a global public health expert and former Dartmouth College president, notified the board of his intention to continue in the bank’s top job after his current term ends on June 30, 2017, the bank said.
  •  The U.S. budget deficit is expected to grow to $590 billion in fiscal year 2016 due to slower than expected growth in revenues and higher spending for programs including Social Security and Medicare, the Congressional Budget Office said on Tuesday.The estimate, which is $56 billion larger than CBO’s forecast in March, shows the deficit increasing in relation to economic output for the first time since 2009. CBO said the deficit is expected to be $152 billion higher than
    in 2015 and will equal 3.2 percent of economic output.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1343 TARGET 1348 1354 SL BELOW 1338.
  • SELL GOLD BELOW 1338 TARGET 1333 1327 SL ABOVE 1343.

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

24Aug
index

IForex Market Trading Signals and News – 24 August 2016

INTERNATIONAL CURRENCY BUZZ

  • Forex – EUR/USD trims gains after E.Z. PMI reports.
  • Forex – Aussie, kiwi move higher after Wheeler comments.
  • Forex – Kiwi gains further, yen Aussie also up as dollar dips in Asia.

EUR/USD

The euro trimmed gains against the U.S. dollar on Tuesday, after the release of mixed manufacturing and service sector activity data from the euro zone, although sentiment on the greenback remained fragile ahead of Friday’s speech by Federal Reserve Chair Janet Yellen.EUR/USD pulled back from 1.1355, the session high, to hit 1.1334 during European morning trade, still up 0.12%.The pair was likely to find support at 1.1268, Monday’s low and resistance at 1.1367, the high of August 18 and a nearly two-month high.Earlier Tuesday, research group Markit said Germany’s manufacturing purchasing managers’ index slipped to a two-month low of 53.6 in August from 53.8 the previous month, confounding expectations for a slip to 53.5.Germany’s services PMI fell to a 15-month low of 53.3 this month from 54.4 in July, compared to expectations for an unchanged reading.

GBP/USD

GBP/USD is currently trading with a bullish bias. Following the breakout above 1.3134, we remain long and expect a breakout above 1.3167 to culminate in to an new impulsive rally to the upper side. In the meantime, we wait for minor corrective rally to the lower side to
give us low risk buy opportunities with a target at 1.3345. This pair should be traded alongside EUR/USD, NZD/USD, AUD/USD, EUR/JPY and AUD/JPY. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intraday.

RECOMMENDATION :

  • BUY GBPUSD ABOVE 1.3210 TGT 1.3230 1.3260 SL 1.3180.
  • SELL GBPUSD BELOW 1.3130 TGT 1.3100 1.3070 SL 1.3160.

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

24Aug
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 24 Aug 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 9.24 points or 0.33% higher to 2850.43, taking the year-to-date performance to –
    1.12%.
  • The top active stocks today were DBS, which gained 0.87%, Singtel, which gained 0.72%, CapitaLand, which declined 0.33%, UOB, which gained 0.51% and OCBC Bank, with a 0.24% advance.
  • The FTSE ST Mid Cap Index gained 0.14%, while the FTSE ST Small Cap Index declined 0.12%.
  • The outperforming sectors today were represented by the FTSE ST Industrials Index, which rose 0.91%. The two biggest
    stocks of the Index – Jardine Matheson Holdings and Jardine Strategic Holdings – ended 2.36% higher and 0.22% higher
    respectively.
  • The underperforming sector was the FTSE ST Consumer Goods Index, which slipped 0.39%. Wilmar International shares declined 0.32%and Thai Beverage declined 0.98%.
  • The three most active Exchange Traded Funds (ETFs) by value today were:IS MSCI India (+0.14%) ,DBXT MSCI Thailand TRN ETF (-1.36%) ,DBXT MSCI Taiwan ETF (-1.41%)
  • The three most active Real Estate Investment Trusts (REITs) by value were:Ascendas REIT (+1.24%) ,CapitaLand Commercial Trust (-1.28%) ,CapitaLand Mall Trust (+0.94%)
  • The most active index warrants by value today were:
    HSI23800UBeCW161229 (+0.76%) ,HSI22800VTeCW160929 (+3.73%) ,HSI22400MBePW160929 (-2.44%)
  • The most active stock warrants by value today were:
    DBS MB eCW170201 (+5.83%) ,DBS MB eCW170201 (+5.83%) ,DBS MB ePW170201 (-5.04%)

STOCK RECOMMENDATION :

  • BUY NEW SILKROUTES ABOVE 0.540 TGT 0.565 0.580 SL 0.515.
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