Daily Archives: April 16, 2018

16Apr
forex

Today’s Forex Market Insight

INTERNATIONAL CURRENCY BUZZ
Forex -EUR/USD ends week higher, still unable to move away from 1.2300
Forex- GBP/USD tests 2018-high ahead of UK data-intensive calendar this week
Forex- EUR/GBP: Brexit trade talks to undermine the pound–Rabo bank
EUR/USD
The EUR/USD pair remained above 1.2300 on Friday and rose marginally. It found resistance at 1.2350 it was about to end the week with a gain of around 50 pips. The pair peaked on Wednesday at 1.2395 and then bounced to the downside following the release of the FOMC minutes. It continued to correct lower on Thursday weakened by the ECB minutes. The decline was capped by 1.2300 and then, euro rebounded modestly, rising to 1.2350. While the tone of the Fedwas seen as “hawkish”, the ECB offered no signals of potential talks about the exit strategy. On a wider perspective, EUR/USD continues to move around the 1.2300 area. Since February it is moving sideways without a clear direction. Last week it found support on an uptrend line from November lows. That line stands at 1.2250/60 at the moment, and a break lower could be seen as a bearish signal from a technical perspective.
EUR/USD
GBP/USD
The GBP/USD is trading at around 1.4253 up 0.17% on Friday. It is trading close to key resistance levels with the 200- period simple moving average on the weekly chart at 1.4245 and the 2018 high at 1.4346. Earlier on Friday, the pound tested levels not seen since January 25 (2018 high). In the absence of significant data from the UK, the pair is mainly driven by the general market sentiment, the speeches from Fed’s member in the US and the technical outlook. It will be a data- intensive calendar for the cable next week with the UK inflation, labor market and retail sales data. The data will be closely looked by investors as the Bank of England will be watching for clues to hike sooner rather than later. On the other side of the Atlantic, next week will see the US retail sales report for March, housing starts for March, building permits and a plethora of Fed’s members’ speeches.
GBP/USD
16Apr

Singapore stocks: STI resumes evening exchanging at 3,488.95, down 0.4% on Monday day

SINGAPORE stocks entered the evening exchanging session bring down on Monday, with the Straits Times Index shedding 12.35 focuses, or 0.4 for each penny to 3,488.95 as at 1pm.

Washouts dwarfed gainers 238 to 93, after around 792.9 million offers worth S$452.2 million changed hands.

The most effectively exchanged counters by volume were Rowsley which fell 17.4 for every penny, or 2.1 Singapore pennies to 10 Singapore pennies with 72 million offers exchanged; and mDR which was up 33.3 for every penny or 0.1 Singapore penny to 0.4 Singapore penny with 24 million offers exchanged.

Other dynamic file stocks included Genting Singapore which fell 0.8 for each penny to S$1.17, and Singtel which was down 0.3 for every penny to S$3.36.

 

tumblr_static_tumblr_static_b3olx13zmc08cko400w8g4gkw_640

Stocks to watch: UOB, Yanlord Land

SINGAPORE – The accompanying organizations saw new improvements that may influence exchanging of their offers on Monday (April 16):

Joined Overseas Bank (UOB): UOB has gone into a concurrence with Beijing-based budgetary innovation firm Pintec Technology Holdings to set up a joint wander organization, Avatec.ai. UOB will have a 60 for every penny stake in the joint wander, while Avatec will have an issued and paid-up capital of up to S$10 million and turn into a backup of UOB. Offers in UOB exchanged 1.11 for every penny, or S$0.31 higher to close at S$28.24 each on Friday.

Yanlord Land Group: Yanlord has commanded DBS Bank, The Hongkong and Shanghai Banking Corp and Standard Chartered Bank as joint worldwide organizers, bookrunners and lead directors to raise US dollar-designated senior notes, the property bunch declared on Monday. The advertising of the notes will occur in Singapore and Hong Kong. This will be Yanlord Land’s first obligation raise since S&P updated its FICO assessment by one indent to “BB” from “BB-” in March with a steady standpoint. The counter exchanged at S$1.76 on Friday, up 0.57 for every penny, or one Singapore penny.

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