Daily Archives: September 24, 2018

24Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • The United States is getting “very, very close” to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said on Friday. There is just over a week to go before a U.S.-imposed Oct. 1 deadline to publish the text of a deal to update the North American Free Trade Agreement, and the United States and Canada have still not agreed on terms, Hassett told Fox News Channel.
  • WTI crude oil prices settled higher Friday, as traders cheered signs of tightening U.S. output, though sentiment was soured by a report suggesting major oil producers were ready to discuss plans to ramp up output. On the New York Mercantile Exchange, crude futures for October delivery rose 46 cents to settle at $70.78 a barrel, while on London’s Intercontinental Exchange, Brent gained 0.09% to trade at $78.77 a barrel.
  • Metal prices were in rally mode Friday as copper hit 12-week highs, shrugging off a strong dollar on easing trade war fears, though analysts warned downside momentum could resume. The United States and China, earlier this week, announced tariffs at a lower rate than many had feared, helping lift sentiment on trade, easing fears escalating trade tensions would dent China’s appetite for metals.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • China has canceled upcoming trade talks with the United States and will not send vice-premier Liu He to Washington next week, the Wall Street Journal reported, citing sources. The Wall Street Journal said a mid-level delegation was due to travel to Washington ahead of Liu’s visit, but the trip has now been abandoned. Earlier this week, China added $60 billion of U.S. products to its import tariff list as it retaliated against U.S. duties on $200 billion of Chinese goods set to go into effect from Sept. 24.
  • U.S. Treasury official Adam Lerrick has been tapped by the Trump administration to serve as the country’s acting executive director at the International Monetary Fund, the Financial Times reported on Friday, citing a source. Lerrick, who is a counselor for international affairs, will be temporarily appointed U.S. executive director at the IMF while the administration awaits the Senate confirmation of investment banker Mark Rosen to the role, the report said.
  • Newly appointed Zimbabwean Finance Minister Mthuli Ncube would like to employ a “big bang” economic reform program to the battered economy where unemployment is running above 80 percent, but recognizes politics will limit the speed for change. “My preference is a fiscal shock, but there is a what you call the political collar or the politics of policy making which then slows you down. My preference would be more of a big bang approach because every day counts in terms of cost,” Ncube, a former banker, said in a briefing with journalists on the sidelines of an investor conference in New York on Friday.

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24Sep

Singapore Stock Watch: STI resumes Monday evening at 3,230.26, up 0.4%

Singapore Stock Watch :SINGAPORE stocks continued exchanging 0.4 for each penny higher on Monday after the meal break, with the Straits Times Index rising 12.58 focuses to 3,230.26 as at 1.02pm.

Washouts dwarfed gainers 165 to 133, as 587 million offers worth S$410.8 million altogether changed hands.

The most effectively exchanged counter was Nico Steel with 41.27 million offers exchanged, level at 0.3 Singapore penny. Different actives included China Real Estate with 20 million units exchanged, level at 0.2 Singapore penny and Wheelock Properties with 13.35 million offers evolving hands, down 3.23 for every penny to S$2.10.

Dynamic list stocks included DBS, down 0.69 for each penny or 18 Singapore pennies to S$25.85, and OCBC Bank, up 1.51 for every penny or 17 Singapore pennies to S$11.46.

Singapore’s expansion unfaltering in August at 0.7%, in accordance with desires

SINGAPORE’S feature expansion held unfaltering in August with costs up 0.7 for every penny year on year, for the most part because of a more progressive decrease in settlement costs.

This was in accordance with financial analyst desires and only a tick quicker than the 0.6 for each penny for every penny in July, as indicated by the shopper value record (CPI) discharged by the Department of Statistics on Monday.

Center expansion, which strips out the expense of settlement and private street transport, ascended by 1.9 for each penny in August – unaltered from July as higher retail and sustenance swelling balance a control in administrations swelling.

These two back to back months denoted the quickest rate of increment since August 2014, when it climbed 2 for each penny.

Feature expansion ticked up for the most part because of convenience costs which fell by 2.6 for each penny in August, directing from the 3 for every penny decrease in July. This mirrored a slower pace of decrease in lodging rentals and a bigger increment in the expense of lodging support and repairs.

Private street transport costs plunged by 0.2 for every penny in August, indistinguishable pace of decrease from in the earlier month, as a littler fall in auto costs was counterbalanced by a less steep increment in petroleum costs.

The general expense of retail things went up by 2 for each penny in August, up from 1.6 for every penny ascend in July. This was because of a quicker pickup in the costs of apparel and footwear, and also an expansion in the costs of individual consideration items following the decay recorded in July.

Nourishment expansion edged up to 1.7 for every penny in August from 1.5 for each penny in the first month, on the back of a quicker pace of increment in the costs of non-cooked sustenance things and arranged suppers.

Administrations expansion facilitated to 1.3 for each penny in August from 1.5 for every penny the prior month, principally mirroring a decrease in media transmission administrations expenses which had more than balance a quicker pickup in airfares.

In the standpoint by the Monetary Authority of Singapore (MAS) and the Ministry for Trade and Industry (MTI), imported expansion is probably going to rise gently.

Worldwide oil costs have mobilized since the beginning of 2018 and are relied upon to normal higher for the entire year when contrasted with 2017. Then, worldwide sustenance product costs are anticipated to rise somewhat as request reinforces in the midst of adequate supply conditions, said the MAS and the MTI.

Local wellsprings of swelling are relied upon to increment nearby a quicker pace of wage development and a pickup in residential interest. Be that as it may, the degree of buyer cost increments will stay direct, as retail leases have remained moderately curbed and firms’ valuing force might be compelled by showcase rivalry, said the MAS and the MTI.

Center expansion is relied upon to rise continuously through the span of 2018 to normal in the upper portion of the 1 to 2 for every penny gauge run for the entire year. Feature expansion is anticipated to be inside the upper portion of the zero to 1 for each penny estimate extend for the entire year.

Settlement costs are conjecture to fall by a littler degree than in 2017, while private street transport swelling should decrease in 2018 as the inflationary impacts from past authoritative measures scatter, said the MAS and the MTI.

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24Sep
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Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Higher as Sterling Slumps on Brexit Woes
Forex – Sterling Hits Intraday Lows as May Says UK-EU at Impasse
Forex – EUR/USD: Fed should help for another visit to 1.15 – Danske Bank

EUR/USD

Next week, the Federal Reserve will meet. According to analysts from Danske Bank, continued Fed hikes should help EUR/USD revisit the 1.15 area again during the course of the autumn. “With the Fed set to stay on autopilot for now, US rates are set to stay a source of USD support. This should help cement the status of the dollar as a carry currency both in terms of the level of and the change in short-end yields.” “With the Fed still keen to continue the process of moving rates back towards ‘neutral’, it remains too early in our view for the FX market to price the Fed going on hold. This should help EUR/USD revisit the 1.15 area again during the course of the autumn.” “As the ECB is set to signal a first hike coming up at a time where the Fed could be looking to go on hold, a EUR/USD uptick will start to materialize. Indeed, it is when easing stops – rather than when hikes occur – that currency appreciation is seen, and vice versa.”

GBP/USD

The dollar rose against its rivals on Friday, as investors reined in appetite for emerging market currencies, while the pound racked up losses as the UK and EU reached an “impasse,” on a post-Brexit deal. The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.40% to 93.84. UK Prime Minister Theresa May criticized the EU for rejecting her post-Brexit plans, citing it “unacceptable,” particularly as the bloc failed to put forward alternative proposals. May further claimed that the UK and EU were at an “impasse,” denting optimism for a post-Brexit deal agreement following recent reports that the EU were set to adopt a warmer approach to Brexit talks. GBP/USD fell 1.41% to $1.3075, eroding most of the week’s gain as the pair looks set to end the week roughly flat. Turkey unveiled a new economic program earlier this week to reduce its current account deficit, while South Africa’s central bank stood pat on interest rates Thursday.

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