Monthly Archives: May 2018

30May

Singapore Exchange to postpone beginning of new India fates after claim

Singapore Exchange Ltd. said it will postpone the beginning of its new Indian stock prospects contracts, as a court question in Mumbai heads to discretion. SGX, which is doing combating with National Stock Exchange of India Ltd. over Indian subordinates in the city-state, had been because of dispatch the SGX India Futures on June 4. The items were outlined as a trade for the prevalent Nifty 50 Index contracts, which are because of end in August after NSE drop its permitting and information manage its Singapore partner.

The question between two of Asia’s greatest bourses has been stewing for a considerable length of time and debilitates to leave global speculators without a simple method to fence their presentation to India’s $2.2 trillion securities exchange. Indian authorities are endeavoring to make inland exchanging more available, and the nation’s business sectors controller a week ago said nonnatives would be permitted to exchange without enrolling on trades in the Gujarat tax-exempt zone known as Gift City.

SGX

 

“The Monetary Authority of Singapore asks all gatherings worried to cooperate to locate a neighborly arrangement that will keep on encouraging interests in the Indian market,” the Singapore controller said in a messaged explanation. “An expedient determination to the debate will be to the greatest advantage of all gatherings concerned.” SGX said in an announcement Tuesday that it saves all rights in regard of harms caused by the claim. SGX shares fell 1.1 percent to S$7.29, the least since April 10. “Financial specialists should utilize authorized and legitimately allowable items to get to Indian markets,” NSE said in an announcement, adding that it stays focused on giving universal speculators great access to Indian markets. The two gatherings will have a gathering with the referee, who will endeavor to choose the case by June 16, as indicated by a Bombay High Court arrange on Tuesday. The gatherings can raise issues including ward and whether the debate is liable to discretion, the judge said.

The court a week ago issued a break directive against SGX. Strains between the organizations emitted in January, when NSE requested that its partner postpone plans to present single-stock fates that would track a portion of India’s biggest organizations. SGX repelled the demand, and on Feb. 9 India’s three national trades said they’d cross out their concurrences with abroad bourses. NSE sued SGX a week ago, guaranteeing the subsidiaries anticipated the June 4 begin were “unlicensed items” and “indistinguishable” to the Nifty-marked prospects. “The scope of accessible budgetary instruments for financial specialists to support exposures and oversee chances in Indian values will be lessened,” on account of the battle between the trades, MAS said. “A drawn out question will affect the openness of the Indian values market to worldwide speculators.” The debate has scuppered talks amongst SGX and NSE about making a cross-outskirt exchanging join, as per individuals acquainted with the issue. SGX said in its Tuesday articulation that it “stays open to a community long haul arrangement that will profit Indian markets.”

28May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                        Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices oscillated around the psychologically important $1,300 level shrugging off dollar strength and easing geopolitical uncertainty following Trump’s reverse ferret on the North Korea summit. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $1.60 or 0.12%, to $1,302.80 a troy ounce. Gold remained resilient in the wake of a resurgent dollar on the back of positive economic data as durable goods orders topped expectations reaffirming investor confidence in the U.S. economy.
  • As it battles to remain the world’s biggest copper producer, Codelco just achieved a new, less enviable mantle — the only major mining company with an all-male board and senior management team. On Friday, Chilean President Sebastian Pinera appointed executive Juan Benavides as chairman of the state-owned company. Earlier this month, he appointed Hernan de Solminihac and Patricio Briones as directors, replacing Dante Contreras and Laura Albornoz, then the only woman on the nine-member board. Chile is the biggest copper-mining nation.
  • The United States has called at a meeting in Geneva for a “reset” of agricultural trade negotiations, rejecting calls from other states to push on with long-drawn-out talks on reform, a trade official said. Traditional subsidisers such as the United States, Japan and the European Union have long resisted pressure to wean their farmers off handouts, while the United States has accused both China and India of paying far greater subsidies than allowed.

ECONOMY NEWS

  • As Japan gears up to host the Rugby World Cup and Olympic Games in consecutive years, many businesses are seizing on the opportunity to capitalize on the influx of tourists, media and athletes for both big events. The Rugby World Cup kicks off in September 2019 followed by the Tokyo Games 10 months later, giving businesses a unique chance to reach an international and diverse customer base that may be encountering Japanese products for the first time.
  • The Federal Reserve plans to continue tightening monetary policy gradually for now, but it faces a much tougher decision as U.S. interest rates near a “neutral” level where they neither boost nor slow the economy, several policymakers indicated on Friday. “I’m not yet there on what we should do once we get to neutral,” Dallas Fed President Robert Kaplan said at a conference where Atlanta Fed President Raphael Bostic and Chicago Fed President Charles Evans also spoke.
  • Traders could be forgiven if flashbacks of the euro zone crisis come back to haunt them as the euro slid to a six-month low and risk premiums on Spanish and Italian bonds soared amid rising political risks. European risk assets took a massive pounding on Friday ahead of a long weekend in London as investors fled from riskier bonds, stocks and credit securities to the safety of German bunds that were set for their biggest gain since 2012.

Comex Gold Signal

 

25May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                      Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices extended gains in midmorning trade on Thursday as U.S. President Donald Trump dashed hopes for a summit with North Korea leader Kim Jong Un At 10:40AM ET (14:40GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up $16.30, or around 0.6%, to $1,305.90 a troy ounce. That was close to an intraday high of $1,306.30, its highest level since May 14. Both leaders were set to meet in Singapore on June 12 to discuss the possibility of denuclearization.
  • Oil prices continued to fall on Thursday amid concern global supply and future output from the Organization of Petroleum Exporting Countries. Brent crude futures, the benchmark for oil prices outside the U.S., slumped 1.05% to $79.96 a barrel as of 10:27 AM ET (14:27 GMT). Meanwhile Crude Oil WTI Futures decreased 1.20% to $70.98 a barrel. Prices were pushed lower this week after an unexpected increase in weekly U.S. crude supplies.
  • The U.S. Energy Information Administration said in its weekly report thatnatural gas storage in the U.S. increased by 91 billion cubic feet in the week ended May 18, compared to forecasts for a build of 92 billion. Thursday’s data compared with a gain of 106 billion cubic feet (bcf) in the preceding week and represented a decline of 804 billion from a year earlier and was also 499 bcf below the five-year average.

ECONOMY NEWS

  • Italy is responsible for the economic health of the whole euro zone because it is part of it, Finnish Finance Minister Petteri Orpo said on Thursday, adding he was a bit worried by the economic plans of the new Italian government coalition. “We look very carefully at what is happening in Italy and of course I am a little bit worried by that,” Orpo told reporters on entering talks of euro zone finance ministers in Brussels.
  • Goldman Sachs (NYSE:GS) said on Thursday that any systemic spillovers from Italian political risks into peripheral Europe could push the euro down against the dollar by “around five big figures.” The prospect of a coalition government between the anti-establishment 5-Star Movement and far-right League, bent on big spending plans that would put Italy on a collision course with the European Union, have rattled markets in the past week.
  • National home values have increased 8.7 percent since last April to a median value of $215,600, according to Zillow. The pace of appreciation is the fastest since June 2006, when home values were rising nine percent annually. San Jose home values appreciated 26 percent year-over-year. Las Vegas, Seattle, Dallas-Fort Worth, San Francisco, Tampa, Atlanta, Charlotte and Orlando all saw double digit a growth.

Comex Gold Signal

Comex Gold signal

23May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices inched higher on Tuesday as increased risk appetite limited gains in the precious metal, keeping it close to the low for the year hit a day earlier. At 10:17AM ET (14:17GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up just $0.40, or around 0.03%, to $1,291.30 a troy ounce. In the previous session, it slid to as low as $1,281.20, its weakest level since December 27. News that China plans to slash auto import tariffs eased concerns over the possibility of a Sino-U.S. trade war.
  • Brent oil prices were higher on Tuesday, as investors remained concerned about global supply and future output from Iran and Venezuela. Oil prices rose on Monday after Secretary of State Mike Pompeo said in an interview that the U.S. would demand major changes in Iran following America’s withdrawal from the nuclear deal, with the possibility of even tougher sanctions.
  • A U.N. monitoring group wants to enlist the help of the world’s biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said. The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons. Under the restrictions, Pyongyang is limited to importing 4 million barrels of crude and 500,000 barrels of products a year.

ECONOMY NEWS

  • German prosecutors said on Tuesday that they had charged the first suspects in a widespread and long-running financial market tax scam that has cost taxpayers billions of euros. The 948-page indictment filed in Wiesbaden named the 67-year-old German lawyer Hanno Berger as one of the six charged, the court confirmed separately.
  • Prominent German economists opposed French President Emmanuel Macron’s euro zone reform proposals on Tuesday, dismissing them as risky and saying that the single currency bloc must not become a union in which liabilities were shared out. Macron wants to create a separate euro zone budget, appoint a finance minister and convert the bloc’s European Stability Mechanism emergency rescue fund into a European monetary fund.

Comex Gold Signal

23May
yen_bill-2-512

Forex Technical Analysis : Japanese Yen

JAPANESE YEN TECHNICAL ANALYSIS TALKING POINTS:

  • USD/JPY has vacillated, however it stays above numerous key close term bolsters
  • With enter central information in the offing, now won’t not be the best time to venture in
  • GBP/JPY’s viewpoint appears somewhat more downbeat

    The Japanese Yen is arranging an extremely unassuming fightback against the US Dollar following quite a while of tenacious bullishness towards the greenback.

    USD/JPY appears to be probably to have made some sort of best finally Monday’s intraday high. That came in at 111.39. The US Dollar has been declining since, some portion of a wide based retracement which has seen it bring down against the New Zealand and Australian Dollars as well, regardless of whether the Euro stays under a touch of weight because of political stresses in Italy.

    All things considered, it may not bode well to wager on a far reaching turnaround in US Dollar slant presently. USD/JPY’s retracement has been very unobtrusive and for the minute in any event appears to be constrained to a help zone got from the past huge pinnacles, which were made toward the beginning of February.

    23-1

    Regardless of whether these give route once a day, bolster in the vicinity of 109.00 and 110.00 looks genuinely strong. It appears to be likely that what we are seeing here is a touch of combination that Dollar bulls could honestly do with, having pushed the match’s force up to levels at which it was beginning to look a little overbought.

    The uncommitted may now do well to hold up until the point that business sectors have seen the minutes of the Federal Reserve’s last money related arrangement meeting. These are expected for discharge on Wednesday, or early Thursday morning for Asia Pacific financial specialists. On the off chance that they fortify the Fed stays by some separation the most forceful arrangement tightener in the created world, it’s difficult to see the US Dollar falling extremely far. Without a doubt such a message may encourage Dollar bulls to have another tilt at those Monday highs.

    A more tepid understanding of the Fed could see a more extensive slide USD/JPY. Anyway even the initial, 23.6% Fibonacci retracement of the ascent since early April comes somehow beneath the market at 109.79.

    23-2

    While that is secure the possibility of a more genuine Dollar inversion appears to be sparse.

    In the mean time the UK Pound likewise appears to have bested out against the Japanese cash this week, and its anticipation looks somewhat gloomier. Quick GBP/JPY center is around a group of presumably unobtrusive help at the current month’s lows.

    23-3

    Should that give route at that point there’s very little between the Pound and finish inversion of the move up from March.

21May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Demand for gold fell on Friday, amid a strengthening U.S. dollar. Comex gold futures for June delivery were down 0.08% to $1,288.40 a troy ounce as of 10:13 AM ET (14:13 GMT). The price of bouillon was driven lower by the rise in the greenback and increase in bond yields. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at a five-month high of 93.69.
  • WTI crude oil prices settled lower on Friday, but notched their third straight week of gains as falling production in Venezuela and pending U.S. sanctions on Iran helped offset signs of an expansion in U.S. output. On the New York Mercantile Exchange crude futures for June delivery fell 21 cents to settle at $71.28 a barrel, while on London’s Intercontinental Exchange, Brent fell 74 cents to trade at $78.56 a barrel.
  • Natural gas markets rallied a bit during the day on Friday, reaching towards the $2.86 level before rolling over again. Natural gas markets continue to be very noisy, as we have a lot of questions out there as to whether the rally can continue due to the longer-term oversupply issues. The market continues to see this up-trending channel hold the markets intact, so it’s not a surprise it we can break out on a Friday.

ECONOMY NEWS

  • China’s economy will likely expand around 6.7 percent in the second quarter this year, the State Information Center (SIC) said in an article published in the state-owned China Securities Journal on Saturday. The forecast growth rate was slightly slower than an actual 6.8 percent expansion in the first quarter. The SIC is an official think tank affiliated with the National Development and Reform Commission, the country’s top economic planning agency.
  • China’s push to open up its financial sector to foreign banks and financial institutions will be based on the principle of reciprocity and will not reward protectionism by other countries, an official said on Saturday. Chen Wenhui, the vicechairman of the China Banking and Insurance Regulatory Commission (CBIRC), told a forum that China aimed to accelerate the process of opening up, but countries afraid of exposing their own financial sectors to competition would not benefit.
  • Australian Prime Minister Malcolm Turnbull will travel to China later this year to smooth over bumpy diplomatic ties that have now developed into trade problems for some of Australia’s biggest wine and beverage exporters, Fairfax Media reported. Relations between the two trade partners have cooled significantly in recent months, after Turnbull’s conservative coalition government proposed a bill to limit foreign influence in Australia, including political donations, but which Beijing has interpreted as “anti-China”.

Comex Gold Signal

18May
bl29_think_dollar

Rupee picks up 10 paise to 67.70 against dollar

Belying fears about surging unrefined costs, the rupee figured out how to hold its ground against the US money for the second-in a row day, picking up by 10 paise to end at 67.70 a dollar.

The Indian money demonstrated shockingly flexible in spite of a sharp surge in worldwide rough costs which alarmingly touched a high of USD 80 a barrel on supply press.

Suspected overwhelming money advertise liquidity intercession by the Reserve Bank of India transcendently helped the rupee to remain above water in the midst of bullish abroad feeling.

The home unit, which is the most noticeably awful performing Asian market cash, is by all accounts very nearly recuperation subsequent to diving to a crisp 16-month low of 68.15 on Wednesday, a forex merchant said.

Intensifying residential macros against the dreary setting of bubbling unrefined costs and approaching Fed rate climb fears alongside dollar quality has been the key ruling power in forex advertises lately.

On the vitality front, unrefined costs shot up to hit USD 80 a barrel out of the blue since November 2014 on developing stresses of a sharp drop in Iranian oil sends out in the coming a very long time because of recharged US sanctions, lessening supply in an as of now fixing market.

The Brent rough prospects, a worldwide benchmark, was exchanging higher at USD 79.97 a barrel after quickly hitting USD 80 in early Asian exchange.

Meanwhile, the dollar was drifting close to its largest amounts in five months against a container of other real monetary forms as rising US government security yields kept on supporting interest for the money.

Neighborhood values, notwithstanding, kept on seeing huge loosening up as anxious speculators forgot about cash in the midst of political wrangling in Karnataka and solidifying raw petroleum costs.

Expanding its recuperation energy, the rupee continued higher at 67.72 from overnight close of 67.80 at the Interbank Foreign Exchange (Forex) showcase on supported dollar offering by banks and exporters.

Picking up a solid footing notwithstanding facilitating dollar weight, the rupee touched an intraday high of 67.58 in mid morning bargains, however in the long run pared early solid increases to end at 67.70, demonstrating a pick up of 10 paise, or 0.14 for each penny.

The RBI, then, settled the reference rate for the dollar at 67.7156 and for the euro at 79.8909.

Then, the yield on the benchmark 10-year government security developing in 2028 diminished to 7.88 for every penny.

The dollar file, which measures the greenback’s an incentive against a bin of six noteworthy monetary standards, was higher at 93.38.

In the cross cash exchange, the rupee fortified against the pound sterling to settle at 91.31 for every pound from 91.41 and solidified against the euro to end at 79.79 from 79.85 prior.

It likewise solidified against the Japanese Yen to close at 61.21 for every 100 yens when contrasted with 61.55.

Somewhere else, the regular money, euro stayed worried against the greenback on theory that Italy’s conceivable new coalition government would hope to discount a sizeable lump of Italian open obligation, delivering the most exceedingly awful of market fears.

The British pound is exchanging humbly bring down in the wake of sliding over from early highs on reports that the UK is set up to remain in the traditions association past 2021.

In forward market today, premium for dollar floated additionally attributable to reliable getting from exporters.

The benchmark half year forward premium payable in September facilitated to 93.25-95.25 paise from 95-96.50 paise and the far-forward February 2019 contract moved down to 227-229 paise from 229-230 paise beforehand.

16May

Singapore stocks: STI resumes Wednesday exchanging at 3,531.83, down 0.2%

SINGAPORE stocks continued exchanging lower on Wednesday evening, with the Straits Times Index falling 8.4 focuses, or 0.2 for each penny to 3,531.83 as at 1.05pm.

Failures dwarfed gainers 210 to 128, after around 906.9 million offers worth S$660.6 million changed hands.

The most effectively exchanged counter by volume was Ezion, which rose 5.2 for each penny, or 0.6 Singapore penny to 12.1 Singapore pennies, with 96.9 million offers exchanged.

Other dynamic list stocks included Venture Corp which was down 3.6 for each penny to S$21.38; and Genting Singapore which fell 2.3 for every penny to S$1.29.

16May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

16may1

                                                                                Comex Gold Signal

Comex Gold Signal

Comex Gold signal

INTERNATIONAL COMEX NEWS

  • Gold prices fell below the $1,300 level on Tuesday, hitting the lowest levels since December as the U.S. dollar and Treasury yields moved higher after slightly stronger than expected U.S. retail sales figures. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $23.80 or 1.81% to $1,294.40 a troy ounce by 09:26 AM ET (13:26 GMT), a level not seen since late December.
  • Natural gas futures rose to its best level in around there months on Tuesday, as updated forecasting models pointed to above-average temperatures covering most of the country through the end of May. That should help boost early summer cooling demand for the fuel. Front-month U.S. natural gas futures tacked on 0.9 cents, or around 0.3%, to $2.849 per million British thermal units (btu) by 8:20AM ET (1220GMT), after hitting an intraday high of $2.856, the strongest since February 5.
  • Oil prices hit fresh three-and-a-half-year highs on Tuesday, as looming U.S. sanctions against Iran raised fears that markets will face shortages later this year when trade restrictions come into effect. Brent crude futures, the benchmark for oil prices outside the U.S., rose to a session peak of $79.22 a barrel at one point, a level not seen since November 2014. It was last at $79.00 by 8:05AM ET (1205GMT), up 80 cents, or about 1%. Meanwhile, New York-traded WTI crude futures were up 51 cents, or 0.7%, to $71.48 a barrel, not far off their Nov.

ECONOMY NEWS

  • U.S. inflation is rising toward the Federal Reserve’s 2 percent goal while not accelerating enough to suggest the economy is overheating, Dallas Federal Reserve President Robert Kaplan said on Tuesday. Inflation is approaching two percent but it’s “not running away from us,” he said at an event titled “Energy, Trade, and Energy Growth” sponsored by the Council for Foreign Relations.
  • Mexico’s economy minister said on Tuesday that he saw diminishing chances for a new North American Free Trade Agreement ahead of a May 17 deadline to present a deal that could be signed by the current U.S. Congress. U.S. House Speaker Paul Ryan has said that the Republican-controlled Congress would need to be notified of a new NAFTA deal by Thursday to give lawmakers a chance of approving it before a newly elected Congress takes over in January.
  • The European Union is interested in improving its trade ties with the United States but it will not make concessions to secure an exemption from U.S. metals tariffs and would need to consult its 28 members, a senior EU official said on Tuesday. “We are open for improving our trade relations… but it’s not a concession in order to get a permanent exemption from higher steel and aluminium tariffs,” Commission Vice-President Jyrki Katainen told a news conference.

Comex Gold Signal

 

16May
USDJPY-with-Japanese-flag

Japanese Yen : USD/JPY Technical Analysis

JAPANESE YEN TECHNICAL ANALYSIS TALKING POINTS:

  • The Japanese Yen’s beating at the Dollar’s hands goes on
  • The principal reason for it seems to have extended
  • The Australian Dollar is shriveling against the Japanese money

    The Japanese Yen stays under grave weight against the US Dollar from a principal point of view.

    The most recent extremely feeble development information from Japan brought the drapery down on a nine-quarter keep running of monetary development. It has likewise thrown mists over the nation’s ‘Abenomics’ change design and, without a doubt, kicked any prospect of more tightly financial approach from the Bank of Japan far into the long grass.

    Actually this development shortcoming has just supported an as of now reinforcing US Dollar. USD/JPY now plays by and by with the highs of early February which are around current levels.

    On the off chance that Dollar bulls can hold their nerve up here, at that point their next target will be late January’s highs in the 111.50 district which thusly monitor the way move down the year’s pinnacles. These would appear to be famously reachable right now given the yawning and, apparently broadening hole in money related approach among Tokyo and Beijing. However advance toward them will most likely be estimated and set apart by times of solidification.

    16-5

    Inversions will presumably discover bolster at the current up-channel base, which by and by comes in at 109.42 or somewhere in the vicinity. This channel has been genuinely all around regarded both to the upside and the down, however more clear Dollar bulls may well need to see another upside test soon. After all that upper bound remains very some route over the market, for all the greenback’s present power, at 111.43.

    AUSTRALIAN DOLLAR WILTING TOO

    The Australian Dollar has been another remarkable casualty of US Dollar quality however it is likewise withering against the Yen. AUD/JPY appears to have made yet another lower high on its day by day graph in the previous couple of days, with the attention by and by on the drawback.

    Bulls should shield the past critical low at JPY81.20 on the off chance that they’re not to need to manage a plausible more extensive slide the distance down to April’s lows of JPY80.55.

    16-5-1

    A fall this far would put genuine question marks over the whole ascent up from late 2016’s lows, which came in at JPY75.10.

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