Daily Archives: July 16, 2018

16Jul

Singapore stocks watch : STI resumes Monday afternoon at 3,233.45, down 0.8% on day

SINGAPORE stocks edged down on Monday evening’s exchanging resumption, with the Straits Times Index declining 26.9 focuses or 0.8 for each penny on the day to 3,233.45 as at 1.02pm.

Washouts dwarfed gainers 176 to 124, or around seven stocks down for each five up, as around 1.03 billion offers worth S$454.9 million altogether changed hands.

The most effectively exchanged counter was BlackGold Natural Resources, which fell one Singapore penny or 34 for every penny to S$0.03 with about 26 million offers evolving hands. Different actives included Ezion Holdings with 8.7 million offers exchanged at 8 Singapore pennies each, down 1.2 for every penny, and Genting Singapore with 8.4 million units exchanged, down 0.8 for every penny at S$1.25 each.

Dynamic file stocks by esteem included DBS Group Holdings, which withdrew 34 Singapore pennies, or 1.3 for each penny to S$25.91; and OCBC Bank, which shed 13 Singapore pennies, or 1.15 for every penny, to S$11.17.

Singapore Stocks to watch: Boardroom, Atlantic Navigation, Abterra, Cordlife

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Meeting room: Mainboard-recorded corporate administrations supplier Boardroom intends to purchase backups of a Malaysian organization in a similar line of business. Meeting room inked a contingent offer deal concession to July 13 with Symphony House Group, it said in a declaration on Monday morning. It will pay about RM164.1 million (S$55.6 million) for the Symphony Corporatehouse Sdn Bhd unit and three completely claimed backups, which offer bookkeeping and finance administrations, share enrollment, and issuing administrations for essential market securities contributions, among different organizations. Meeting room keep going shut on July 13 at S$0.77, up by 4.05 for each penny on the earlier day.

Atlantic Navigation: Atlantic Navigation on Monday said it has gone into a restrictive offer membership concurrence with Saeed Investment to issue around 263 million new offers at a cost of 9.89 US pennies each to raise US$26 million. This membership cost speaks to a 10.5 for each penny premium to the counter’s volume-weighted normal cost of 12.2 US pennies for every offer on June 13, 2018, being the last full market day going before the assention. The membership shares likewise speak to around 100.89 for every penny of the company’s current offer capital, and will speak to around 50.22 for every penny of its broadened share capital ought to the proposed membership be finished.

Abterra: Mineral and assets organization Abterra was suspended from exchanging on the Singapore Exchange (SGX) on Monday morning, after its demand for an augmentation on time to hold its yearly broad gathering was dismissed by the bourse administrator in a letter got on July 13. Abterra had requested that in April push back the gathering due date by four months, to Aug 31 at the most recent, after Mazars LLP looked to leave as the organization’s statutory reviewers while refering to remarkable review matters at a 51 for every penny possessed Abterra backup.

Cordlife Group: Cordlife on Monday said it is in “private and non-restricting dialogs” identified with the organizing of conceivable exchanges, however no conclusive understandings have been marked, and there is no sureness that any of these will emerge. The announcement from the private line blood investor was discharged in light of inquiries from the Singapore bourse with respect to “uncommon value developments” in the organization’s offers last Friday. On July 13, the counter lost 13.7 for each penny to close at S$0.60 each, down 9.5 Singapore pennies. Somewhere in the range of 451.7 million offers traded hands.

16Jul
sgx

Forex Market Update

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Retreats From 2-Week Highs as GBP/USD Rebounds
Forex – GBP: Strong UK Data may Boost GBP, However, Brexit Overhang Remains
Forex – EUR/USD recovers from 1-week low and erases daily losses

EUR/USD

The EUR/USD pair recovered ground after the beginning of the American session rising from 1.1612, 1-week low, to 1.1670, slightly below daily highs. The pair remained above 1.1650 after the release of the Federal Reserve monetary policy report that Powell will present next week to Congress. According to the document, prospective economic conditions call for further gradual removal of monetary policy accommodation. The report had no significant impact on the US dollar as it added no new information. Despite recovering against the US dollar, the euro turned lower versus the pound. The slide of EUR/GBP could have limited the upside in EUR/USD. On a weekly
basis, the pair is about to post the first slide after rising during the previous there weeks. Overall, it continues to move within the 1.1800 – 1.1500 wide range. EUR/USD rose back above the 20-day moving average that stands at 1.1650 and is again a support level to consider.

GBP/USD

The dollar retreated from a two-week high against its rivals Friday, pressured by a rebound in the pound from an 11-day low. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.01% to 94.56, after hitting a two-week high of 95.00. GBP/USD rebounded from an 11-day low of $1.3103 to $1.3213, after U.S. President Donald Trump walked back his criticism of British Prime Minister Theresa May, and claimed a U.K.-U.S. trade deal was still possible. That eased investor fears that Britain would struggle to secure a trade deal with the United States as Trump had reportedly told the Sun newspaper on Thursday that May’s Brexit plan may “kill” Britain’s chances of such a deal. Elsewhere, China’s trade surplus with the U.S. hit a record of nearly $29 billion, raising the risk of deepening its trade-related rift with the United States.

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16Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

Comex Gold Signal

                                                                      TODAY’S COMEX GOLD SIGNAL

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices hovered above fresh seven-month lows Friday, as a weaker dollar failed to lift sentiment, while other metals steadied as trade war concerns eased. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $5.30, or 0.43%, to $1,241.30 a troy ounce. Gold prices resumed their decline and remained on track for their lowest settlement in nearly two weeks as easing trade-war concerns offset the dollar’s retreat against its rivals from a two-week high.
  • WTI crude oil prices settled higher Friday, but posted steep losses for the week, as traders eased bets on a global supply shortage in the wake of resuming crude flows from Libya and expectations the decline in Iranian exports would be less severe than anticipated. On the New York Mercantile Exchange crude futures for August delivery rose 1.00% to settle at $71.01 a barrel, while on London’s Intercontinental Exchange, Brent rose 1.5% to trade at $75.56 a barrel.
  • The brewing trade war between China and the U.S. is claiming commodity markets as one of its first victims. The Bloomberg Commodities Index, a measure of 26 raw materials, lost 3 percent this week, the most since February. The losses stand out in a week when other risk assets, like emerging-market stocks, were in the green. Soybeans have been hardest hit, with pricing falling to the lowest in a decade as China’s duties on U.S. supplies took effect.

Comex Gold Signal

ECONOMY NEWS

  •  The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp (HK:0763), allowing China’s second-largest telecommunications equipment maker to resume business. The Commerce Department removed the ban shortly after ZTE deposited $400 million in a U.S. bank escrow account as part of a settlement reached last month. The settlement also included a $1 billion penalty that ZTE paid to the U.S. Treasury in June.
  • While investors say they are wary of the broader real estate industry in a rising interest rate environment, some are still bullish on sectors such as self storage and manufactured homes. Real Estate Investment Trusts (REITs) are typically seen as a defensive investment bet as their large dividend payouts offset slow but predictable growth. The S&P 500 real estate index <.SPLRCR> has outperformed in the last six months with a 5.8 percent climb compared with the broader S&P 500’s (SPX) 0.4 percent advance.
  • The Federal Reserve on Friday pointed to “solid” U.S. economic growth during the first half of the year in its semiannual report to Congress, where it also reiterated that it expected to continue to raise interest rates gradually. It is the Fed’s second submission to lawmakers since Chairman Jerome Powell took the helm of the Fed in early February. He is scheduled to answer questions on it before lawmakers on Tuesday and Wednesday.

Comex Gold Signal

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