Monthly Archives: February 2018

28Feb

Technical Analysis on EUR/USD

EUR/USD specialized foul Strategy: pending short at 1. 2277.

  • Euro drops through neckline support, indicating twofold top banana may be situated underneath 1. 26.
  • Selloff took after delicate German CPI, hawkish remarks from Fed’s Powell.
  • Searching should offer ahead a restorative ricochet for finer risk/reward parameters.

 

The euro takes a gander set on middle of the road deeper misfortunes against those us dollar after costs made a twofold Main The following the 1. 26 , capping An four-month uptrend. Those single coin punctured neckline backing after taking after frustrating German expansion information What’s more hawkish remarks from nourished seat jerome Powell.

Starting with here, An Every day close The following those 38. 2% Fibonacci retracement at 1. 2173 opens those entryway for a test of the 1. 2055-70 range (August 29 high, half level). Alternatively, move back over neckline support-turned-resistance, currently toward 1. 2277, opens the entryway a retest of previous pattern line backing at 1. 2385.

Costs would a touch as well near help should make for an alluring short exchange setup starting with An risk/reward point of view. For that done mind, a request need been set to offer EUR/USD In 1. 2277. Though triggered, those position will at first focus 1. 2173 Furthermore convey a stop-loss actuated looking into An Every day close over 1. 2329.

EUR/USD

28Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

28feb1

                                                                               Comex Gold Signal

28feb2

28feb4

INTERNATIONAL COMEX NEWS

  • Gold prices moved lower on Tuesday, as comments by Federal Reserve Chairman Jerome Powell pushed the U.S. dollar higher despite the release of downbeat data on U.S. durable goods orders. Comex gold futures were down 0.13% at $1,331.9 a troy ounce by 08:35 a.m. ET (12:35 GMT). The greenback was boosted after Fed Chair Jerome Powell reiterated on Tuesday that the U.S. central bank would likely move forward with gradual increases in interest rates.
  • Crude oil prices slipped lower on Tuesday, ahead of this week’s U.S. supply reports but the commodity remained within close distance of recent mutli-week highs amid sustained optimism over the rebalancing of the market. The U.S. West Texas Intermediate crude April contract was down 18 cents or about 0.28% at $63.73 a barrel by 10:00 a.m. ET (14:00 GMT), just off Monday’s more three-week highs of $64.22.
  • Natural gas futures edged lower on Tuesday, retreating from the prior session’s two-week high amid speculation the end of the winter heating season will bring warmer temperatures throughout the U.S. and cut into demand for the fuel. Front-month U.S. natural gas futures shed 1.5 cents, or around 0.6%, to $2.671 per million British thermal units (btu) by 9:35AM ET (1435GMT). It rose to $2.723 in the last session, its best level since Feb. 9.

ECONOMY NEWS

  • Treasury 10-year yields at 3 percent may fail to entice Japanese investors unless the dollar starts to become more resilient, according to Sumitomo Mitsui Trust Asset Management Co. “Japanese investors were buying Treasuries when a rise in yields was pushing up the dollar, but that correlation started to break down in December,” said Hideaki Kuriki, Tokyo-based chief fund manager at the company that oversees the equivalent of $89 billion. Their appetite for U.S. bonds has now been limited, and local investors have been unwinding their positions as the dollar-yen’s outlook starts to deteriorate, he said.
  • Federal Reserve Chairman Jerome Powell, pledging to “strike a balance” between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.
  • The Bank of Canada is on course to raise interest rates twice more this year as it aims to strike a balance between a stronger economy and a number of economic risks, including trade negotiations and new housing regulations, a Reuters poll found. The central bank has raised interest rates three times since last July, amid a robust job market and solid economic growth, but policymakers have said repeatedly they will be cautious in considering further hikes.

28feb3

28Feb

Singapore stock market open level on Wednesday; STI up 0.7%

SINGAPORE stocks opened level on Wednesday, with the Straits Times Index increasing 0.7 for every penny or 24.82 focuses to 3,565.21 as at 9am.

Overnight, Wall Street stocks staggered after congressional declaration from new Federal Reserve boss Jerome Powell resuscitated stresses over higher loan fees, AFP detailed. The Dow Jones Industrial Average fell 1.2 for each penny to complete at 25,410.03; the wide-based S&P 500 dropped 1.3 for every penny to end the day at 2,744.28, while the tech-rich Nasdaq Composite Index lost 1.2 for every penny to 7,330.35.

SGX

On the Singapore bourse, around 99.6 million offers worth S$332.2 million changed hands. Failures dwarfed gainers 77 to 49.

Dynamic stocks included LionGold, Singtel, and Golden Agri-Resources.

Jaya Holdings to delist from SGX on March 1

Jaya Holdings will be delisted from the Singapore Exchange (SGX) with impact from 9.00 am on Thursday, March 1.

Jaya, beforehand a seaward armada and shipyard proprietor, detailed this in a declaration to the SGX on Wednesday.

Jaya turned into a money organization after it sold its organizations for S$625 million of every 2014 to Mermaid Marine Australia. It went into a switch takeover consent to procure Heduru Moni in May 2016 out of an S$232.2 million all-share bargain, yet ended the arrangement after it neglected to get pre-freedom from SGX

23Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

23feb

                                                                        Comex  Gold  Signal

23feb2

23feb3

INTERNATIONAL COMEX NEWS

  • Gold prices remained at one-and-a-half week lows on Thursday, as the release of upbeat U.S. jobless claims data was expected to add further strength to the dollar after the minutes of the Federal Reserve’s latest policy minutes pointed to the need for further interest rate hikes. Comex gold futures were down 0.47% at $1,325.8 a troy ounce by 08:35 a.m. ET (12:35 GMT), the lowest since February 14.
  • Natural gas futures were lower on Thursday, maintaining losses despite data showing that domestic supplies in storage fell more than forecast last week. Front-month U.S. natural gas futures shed 2.1 cents, or around 0.8%, to $2.638 per million British thermal units (btu) by 10:45AM ET (1545GMT). Futures were at $2.649 prior to the release of the supply data.
  • Record high stocks of copper in land-locked Arizona and Utah are a reflection of soaring transport costs in the United States and weak demand for the industrial metal produced in the Americas, copper industry sources say. Trading sources added that stocks in these two locations are likely to keep rising until prices are high enough to offset costs of transporting the copper. Copper stocks held in warehouses registered with COMEX (O:CME) in the United States stand at 228,428 tonnes, up from below 90,000 tonnes at the start of 2017.

ECONOMY NEWS

  • Russian opposition leader Alexei Navalny was briefly detained by police on Thursday and accused of organizing illegal protests, weeks ahead of a presidential election in which he has been barred from running. A 41-year-old anticorruption campaigner, Navalny was repeatedly jailed last year for organizing some of Russia’s biggest protests, targeting what he says are the luxury lifestyles of President Vladimir Putin and his inner circle.
  • South African bonds stayed in demand on Thursday as markets priced in expectations that government efforts to reduce the country’s large debt pile will enable it hang on to its last investment grade rating in a Moody’s review due soon. In a budget announced on Wednesday, Africa’s most industrialized economy took the politically risky step of raising value added tax, a move likely to prove less popular with voters than with foreign investors.
  • A proposal by a center-right coalition, leading polls ahead of a March 4 election, to issue small-denomination sovereign bonds would damage public accounts and curb economic growth, Economy Minister Pier Carlo Padoan said on Thursday. The center-right alliance dominated by former prime minister Silvio Berlusconi’s Forza Italia and the eurosceptic League is proposing the bonds as a way to pay people and firms owed money by the state.
22Feb

Singapore shares market exchanging on negative ground; STI at 3,492.83 on 22 Feb

SINGAPORE shares continued exchanging on Thursday evening in a negative area with the Straits Times Index at 3,492.83, down 0.7 for each penny, or 23.4 focuses, on the day as at 1.16pm.

Washouts dwarfed gainers 278 to 85, or around 10 down for each three up, with somewhere in the range of 1.02 billion offers worth S$903.2 million altogether evolving hands.

sgx down

The most effectively exchanged counter was DISA, which was level at 1.2 Singapore pennies with 102.4 million offers evolving hands. Different actives included Jiutian Chemical and Genting Sing.

Dynamic file stocks included DBS at S$29.45 each, up S$0.79 or 2.76 for every penny, and UOB at S$27.60, up by S$0.38 or 1.4 for each penny.

Most Asian markets sank on Thursday, fuelling fears of new unpredictability after Federal Reserve minutes fanned desires US financing costs would rise further.

The eagerly awaited notes from the Fed’s January arrangement meeting demonstrated the board thought Donald Trump’s general tax breaks would start up the as of now murmuring economy, pushing expansion higher.

Examiners estimate that the Fed will lift financing costs at its next gathering in March however there is banter about whether it will do three increments – the same number of have anticipated – or four, in light of the current spate of solid information.

Wednesday’s news saw the key 10-year US Treasury yield hit a four-year high and helped the dollar however sent US values into invert with every one of the three principle lists finishing off with negative an area.

Tokyo finished the morning 1.2 for every penny lower, Hong Kong fell 1.4 for each penny, Sydney surrendered 0.2 for every penny and Singapore was off 0.9 for each penny. Seoul shed 0.6 for each penny, Taipei was off 0.7 for every penny and Manila dropped 0.9 for each penny.

In any case, Shanghai bounced 1.4 for every penny as terrain dealers came back from seven days in length break for the Lunar New Year festivities.

“The market is valuing in the likelihood of a more tightly Fed after some time,” Evan Brown, executive at UBS Asset Management and previous New York Fed worker, disclosed to Bloomberg TV.

21Feb
GBP/USD

GBP/USD refreshes session lows, The following mid-1. 3900s post

• uk unemployment rate ticks higher Also prompts a few offering.
• feature pay Growth stayed firm during 2. 5% y-o-y in any case falls flat should give backing.
• BOE expansion hearings/FOMC gathering minutes peered toward to new stimulus.

The GBP/USD match held for should its Every day misfortunes Furthermore dropped on new session lows, The following mid-1. 3900s, post-UK month to month employments information.

The british Pound lost exactly ground after the most recent uk occupation points indicated unemployment rate ticked higher to 4. 4% over three months should december Also negated a unforeseen drop in the amount for individuals guaranteeing unemployment-related benefits, tumbling Eventually Tom’s perusing 7. 2% Throughout january.

In mostaccioli in-line uk compensation Growth data, nearing to on indicate feature compensation development (counting bonus) stayed firm toward 2. 5% y-o-y completed little on give any support, for exactly level of vulnerability encompassing those approaching Brexit talks also weighing on the major.

Gurus presently look forward of the BOE expansion hearings and the Exceptionally foreseen FOMC meeting minutes in place on focus the pair’s near-term trajectory.

Specialized foul levels will watch.
Prompt help may be currently pegged close to those 1. 3900 handle, which On broken could transform those match defenseless with augment its near-term restorative slide further towards trying those 1. 3800 round figure Stamp in the near-term.

On the flip side, bulls may proceed with with battle close to those 1. 4020-25 region, over which a session from claiming short-covering Might lift those match over towards those 1. 4100 handle.

21Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

21feb1

21feb2

                                                                                Gold Signal 

21feb3

INTERNATIONAL COMEX NEWS

  • Gold prices remained under pressure on Tuesday, as U.S. dollar strength and lower demand for safe-haven assets continued to weigh on the precious metal. Comex gold futures were down 1.08% at $1,341.6 a troy ounce by 08:00 a.m. ET (12:00 GMT), the lowest since February 14. The greenback remained supported against other major currencies despite U.S. deficit worries. The U.S. deficit is projected projected to climb near $1 trillion in 2019 following the recent announcement of infrastructure spending and large corporate tax cuts.
  • Crude oil prices were mixed on Tuesday, as reduced supplies from Canada boosted demand for U.S. oil futures, while the Brent contract remained lower although optimism over the rebalancing of the market persisted. The U.S. West Texas Intermediate crude April contract was little changed at $61.55 a barrel by 10:00 a.m. ET (14:00 GMT), just off a two-week high of $62.64 hit overnight
  • Natural gas futures were higher on Tuesday, moving further away from their lowest levels in almost two years set last week, as updated weather forecasting models showed a return to colder weather over the eastern U.S. during the first week of March. Front-month U.S. natural gas futures climbed 7.0 cents, or around 2.8%, to $2.628 per million British thermal units (btu) by 8:20AM ET (1320GMT).

ECONOMY NEWS

  • South Africa’s new President Cyril Ramaphosa must quickly show international investors his government can implement reforms to take advantage of a weak dollar and growth in China, according to Citi’s head of emerging markets. The crucial period starts with Wednesday’s annual budget and runs until elections, due next year, Citi’s David Lubin told Reuters.
  • The normalization of monetary policy in the euro zone must go hand in hand with economic recovery, Spanish Economy Minister and soon-to-be European Central Bank Vice President Luis de Guindos said on Tuesday. De Guindos was chosen to take over from Portugal’s Vitor Constancio as the ECB’s second in command in June by euro zone finance ministers on Monday.
  • Investors should brace for a possible replay of the 1987 stock market crash later this year, given this month’s slump came against the backdrop of Federal Reserve interest rate hikes and rising inflation, Scott Minerd, Global Chief Investment Officer at Guggenheim Partners, said on Tuesday. “Eventually the Fed will acknowledge that three rate hikes will not be enough, but it is going to raise rates four times in 2018, and market speculation will increase that there may be a need for five or six rate hikes. That will be the straw that breaks the camel’s back,” Minerd said in a note to clients.

21feb4

19Feb

Singapore stock market on Monday afternoon enters in higher ground, STI at 3,477.59

SINGAPORE stock market continued exchanging on Monday evening in a positive area with the Straits Times Index at 3,477.59, progressing 34.08 focuses or one for each penny on the day as at 1.13pm.

Against the benchmark’s level of 3,490 heading into the noontime break, notwithstanding, the file was around 12 focuses or 0.36 for each penny.

Around 677.2 million offers worth S$611.5 million altogether changed hands.

stock gain

 

Gainers dwarfed failures 322 to 81.

The most effectively exchanged counters were Marco Polo Marine, which rose 4.9 for each penny, or 0.2 Singapore penny to S$0.043 with 67 million offers exchanged; and Rowsley which was up 3.5 for each penny, or 0.4 Singapore penny to S$0.118 with 45 million offers exchanged.

Other dynamic file stocks included Singtel which rose 2.7 for each penny to S$3.42; and Genting Singapore which rose 1.6 for every penny to S$1.26.

2 Must Stock to add in your portfolio :

The worldwide securities exchange endured its most noticeably awful week since the worldwide money related emergency in 2008. All things considered, when Wall Street wheezes, whatever remains of the world comes down with a bug. Following a misfortune in speculator certainty on Wall Street, Asian markets tumbled over the previous week. Not withstanding when markets recuperated the next day, it wasn’t sufficient to cover what was lost the earlier day.

Genting Singapore: CIMB has set its target price for Genting Singapore at 9 times FY19 EV/EBITDA. In view of authentic execution, CIMB’s target price is set to close at – 1 standard deviation of its 6-year normal. CIMB features that cautious credit slackening in its VIP business will lift general gross gaming income this year.

ST Engineering: ST Engineering’s companion SIA Engineering as of late observed its income beat accord gauge. As indicated by CIMB, this could be an early sign of returning motor upkeep, repair and update (MRO) slant. Given ST Engineering’s presentation to the CFM motors for limit body airship, ST Engineering could likewise beat accord profit estimate.

 

15Feb

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

15feb

                                                                                  Comex Gold Signal

15feb2

15feb4

INTERNATIONAL COMEX NEWS

  • Gold prices turned lower on Wednesday, as the release of strong U.S. inflation data sent the greenback broadly higher. Comex gold futures were down 0.50% at $1,323.6 a troy ounce by 08:40 a.m. ET (12:40 GMT), off a one-week high of $1,339.4 hit earlier in the day. The U.S. Commerce Department said consumer prices rose more than expected in January by 0.5%. Year-over-year, consumer prices increased 2.1% last month a year earlier, beating expectations for a gain of 1.9%.
  • Natural gas futures were under pressure again on Wednesday, falling back towards their lowest level in almost two years amid speculation the end of the winter heating season will bring warmer temperatures throughout the U.S. and cut into demand for the fuel. Front-month U.S. natural gas futures slumped 3.2 cents, or around 1.2%, to $2.562 per million British thermal units (btu) by 9:05AM ET (1405GMT).
  • Penguins, Royal Dutch Shell’s (L:RDSa) latest oil and gas development in a remote corner of the British North Sea, epitomizes the new doctrine for deepwater projects — keep it cheap and simple. Shunned during the oil price crash of 2014-2016, deepwater projects are being embraced again, a challenge to the surge in onshore U.S. shale output. Penguins, the first new major deepwater project this year, will rejuvenate the 44-year-old field by drilling 8 new wells 165 meters (541 feet) underwater and connecting them to a new production vessel.

ECONOMY NEWS

  • U.S. House of Representatives Speaker Paul Ryan said on Wednesday his chamber “clearly” must address legislation next month to deal with young, undocumented immigrants who face deportation after President Donald Trump announced an end to a program providing them temporary protections. In remarks to reporters, Ryan said Trump “did a very good job of putting a sincere offer on the table” to broadly change U.S. immigration laws and “that should be a framework” for legislation. That proposal, however, is opposed by many Democrats.
  • A fairly strong inflation report released on Wednesday pushed up market expectations that the Federal Reserve could accelerate plans to remove accommodative monetary policy this year. The consumer price index (CPI) for January increased by 0.5% from the prior month, beating expectations for a gain of just 0.3%. Annual headline inflation held steady at growth of 2.1%, surprising the consensus that had expected a drop to 1.9%.
  • The German chamber of commerce said on Wednesday that U.S. import tariffs on steel could trigger a trade war with major trading partners, which analysts say could cut growth in Europe’s largest economy by up to 1 percentage point. U.S. President Donald Trump said on Tuesday he was considering a range of options to address steel and aluminum imports that he said were unfairly hurting U.S. producers, including tariffs and quotas. Trump’s comments were the strongest signal in months that he will take at least some action to restrict imports of the two metals, delivering on his election pledge to put America first and protect U.S. workers from increased foreign competition.

15feb3

 

14Feb
GBP/USD

GBP/USD upside is seen as corrective

“GBP/USD is seeing a minor close term recuperation, this is seen as restorative just while the rally is topped by 1.4011/67 (6 th February high and 20 day mama). While topped here consideration is on the 1.3658 September top. Key medium term bolster is the 1.3399 2016-2018 uptrend. We keep on viewing 1.4345 as a break top for the market and search for promote shortcoming”.

“Over 1.4400, the April 2015 low can be seen at 1.4568”

 

GBP/USD

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