Comex Market

26Aug

Comex Trading Signals and Market News – 26 August 2016

INTERNATIONAL COMMODITY NEWS

  • Gold prices drifted lower in early Asia on Thursday in cautious trade as investors await views from the U.S. Fed chief at the end of the week to set the tone on chances of a rate hike this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange eased 0.06% to $1,328.95 a troy ounce, while silver futures fell 0.13% to $18.532 a troy ounce. Copper futures for September delivery on the Comex eased 0.05% to $2.079 a pound.
  • Oil prices slipped on Thursday as the market focused on oversupply and fading hopes of a production freeze.Global crude oil benchmark Brent (LCOc1) was down 15 cents at $48.90 a barrel by 1043 GMT, having closed down 1.8 per cent on Wednesday. U.S. light crude oil (CLc1) was down 5 cents at $46.72 a barrel, after dropping 2.8 percent on  Wednesday.
  •  Copper futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions amid a rise in demand for industrial metal from major consuming industries.Also  the China leading index rose 0.7 per cent in July from June when it advanced 0.5 per cent.

ECONOMY NEWS

  • An unusually large group of Federal Reserve policymakers appeared before activists on Thursday and defended their plans to raise interest rates to keep the U.S. economy from eventually overheating.Several policymakers said raising interest rates gradually would allow them to stimulate the economy for longer, but that an overheating economy couldend in a recession.
  • A senior executive of South Korea’s Lotte Group has died, an official at the country’s fifth-largest family-run conglomerate told Reuters on Friday, amid a sweeping criminal probe into the business.The official, who declined to be named as he was not authorized to speak publicly on the matter, said a police investigation into the death of Lee In-won, a Lotte Group Vice Chairman, was underway. He did not elaborate.
  •  Investors trimmed risk assets before a gathering of central bankers on Friday, pulling $6.4 billion from U.S.-based stock  funds in a course-reversal during the week ended Aug. 24, data from Lipper showed on Thursday.The outflows, which  came a week after cash poured into stock funds for the first time in five weeks, are the last data showing U.S. fund investors’ behavior before Federal Reserve Chair Janet Yellen speaks at an annual central bankers’ conference in Jackson Hole, Wyoming.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1324 TARGET 1329 1335 SL BELOW 1319.
  • SELL GOLD BELOW 1321 TARGET 1316 1310 SL ABOVE 1326.

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

25Aug

Comex Trading Signals and Market News – 25 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil prices fell on Wednesday on an unexpected increase in U.S. crude stocks that revived worries about the supply glut that has capped prices for the past two years.Global benchmark Brent crude (LCOc1) was down 52 cents, or one percent, at $49.44 a barrel at 1010 GMT, after touching an intraday low of $49.07.U.S. West Texas Intermediate (WTI) crude (CLc1) was down 80 cents, or 1.7 percent, at $47.30 a barrel.
  • Gold prices edged lower in European hours on Wednesday, holding in a familiar range with traders hesitant to make
    big bets ahead of a highly anticipated speech fromFederal Reserve Chair Janet Yellen later this week.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped $5.65, or 0.42%, to trade at $1,340.45
    a troy ounce by 2:47AM ET (06:47GMT).
  • Copper futures were trading lower during the evening trade in the domestic market on Wednesday as investors cast  aside improved China data which showed a pickup in the world’s biggest economy.The China leading index rose 0.7 percent in July from June when it advanced 0.5 per cent.

ECONOMY NEWS

  • China’s central bank has urged banks to spread out the tenors of their loans, hinting at its displeasure with a recent trend of banks focusing on overnight lending, banking sources told Reuters on Thursday.The People’s Bank of China (PBOC) met with major banks on Wednesday to discuss management of liquidity in Chinese markets amid rising speculation over whether Beijing would continue its monetary policy easing or not, the sources said.
  •  South Korea’s finance minister said on Thursday the introduction of an anti-graft law and sluggish exports will constrain the economic recovery over the second half of this year.Speaking at a policy meeting in Seoul, the nation’s finance
    chief Yoo Il-ho said downside risks are growing for the economy, and added that the government will try to ease household debt by encouraging homebuyers to take amortized, fixed-rate loans.
  •  The dollar bobbed higher in Asian on Thursday but major currencies continued to tread water ahead of the global central bankers’ gathering in Jackson Hole, Wyoming, at which Federal Reserve Chair Janet Yellen may offer new clues on
    U.S. monetary policy.Futures markets on Wednesday were indicating an 18 percent chance the U.S. central bank would
    hike rates at its policy meeting next month, and roughly 50 percent odds of a rate increase in December, according to CME Group’s FedWatch tool.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1335 TARGET 1340 1346 SL BELOW 1330.
  • SELL GOLD BELOW 1332 TARGET 1327 1321 SL ABOVE 1337.

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

24Aug

Comex Trading Signals and Market News – 24 August 2016

INTERNATIONAL COMMODITY NEWS

  • Nickel futures were trading lower during the evening trade in the domestic market on Tuesday as speculators cut down their bets led by fall in demand from alloy-makers at the domestic spot market amid tracking weak trend overseas.Further a drop in domestic demand for nickel was mainly in-line with a weak trend overseas as most industrial metals retreated following comments from a US Federal Reserve official which bolstered speculation that US borrowing costs will rise this year.
  •  Oil fell below $49 a barrel on Tuesday, giving up part of August’s strong rally, as signs of rising supply outweighed  hopes that producing nations will agree steps to support prices.A Nigerian militant group, which has claimed a wave of attacks on oil facilities, said at the weekend it was ready for a ceasefire and Iraq resumed pumping through a northern pipeline halted earlier this year.
  •  Gold prices struggled for direction in European trade on Tuesday, pausing after two days of declines, as markets looked ahead to a speech by Federal Reserve Chair Janet Yellen later this week that could shed light on the timing of a U.S interest rate hike.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped 25 cents, or 0.02%, to trade at $1,343.15 a troy ounce by 2:52AM ET (06:52GMT).

ECONOMY NEWS

  • Making money amid Mongolia’s deepening economic crisis, currency dealers thronging the black markets of Ulaanbaatar wave wads of American dollars and Chinese yuan, warning desperate customers that foreign banknotes are becoming scarcer by the day.The Naiman Sharga market, close to the Mongolian capital’s cluttered and impoverished “ger” or tent districts, has become a daily destination for residents panicked by a precipitous decline in the currency,the tugrik.
  •  World Bank President Jim Yong Kim on Tuesday formally launched a bid for a second five-year term as head of the multilateral development lender, whose board pledged an “open, merit-based, and transparent” selection process.Kim,a global public health expert and former Dartmouth College president, notified the board of his intention to continue in the bank’s top job after his current term ends on June 30, 2017, the bank said.
  •  The U.S. budget deficit is expected to grow to $590 billion in fiscal year 2016 due to slower than expected growth in revenues and higher spending for programs including Social Security and Medicare, the Congressional Budget Office said on Tuesday.The estimate, which is $56 billion larger than CBO’s forecast in March, shows the deficit increasing in relation to economic output for the first time since 2009. CBO said the deficit is expected to be $152 billion higher than
    in 2015 and will equal 3.2 percent of economic output.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1343 TARGET 1348 1354 SL BELOW 1338.
  • SELL GOLD BELOW 1338 TARGET 1333 1327 SL ABOVE 1343.

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

23Aug

Comex Trading Signals and Market News – 23 August 2016

INTERNATIONAL COMMODITY NEWS

  • Aluminium futures were trading lower during the noon trade in the domestic market on Monday as investors and speculators remained on the sidelines amidst muted physical demand for aluminium in the domestic spot market.Further sluggish demand for aluminium at the domestic spot market was on the back of trimming of bets by participants in the spot markets influenced aluminium prices at futures trade.
  • Gold prices were under pressure in European trade on Monday, falling to a two-week low as the U.S. dollar rallied amid
    indications the Federal Reserve could raise interest rates as early as next month.Gold for December delivery on the  Comex division of the New York Mercantile Exchange dropped to a session low of $1,335.40 a troy ounce, a level not
    seen since August 9.It was last at $1,337.35 by 2:46AM ET (06:46GMT), down $8.85, or 0.66%, after falling $11.00, or
    0.81%, on Friday.
  •  Oil prices fell nearly 3 percent on Monday as China ramped up exports of refined products, U.S. oil producers added  rigs for an eighth consecutive week, and prospects emerged for increased exports from Iraq and Nigeria.Brent crude  futures (LCOc1) were trading at $49.39 per barrel at 1028 GMT, down $1.49 from their last close.U.S. West Texas Inter-
    mediate (WTI) crude (Clc1) was down $1.27 at $47.25 a barrel.

ECONOMY NEWS

  • Less than two months in office, Philippines President Rodrigo Duterte is getting high marks from the business community for policies that could engineer an economic surge and companies say they are making new investments as a result.While Duterte may be getting headlines for a bloody war against drug dealers and users, less attention has been paid to one of Asia’s few economic success stories.
  • The Bank of Japan’s near doubling of its purchases of Tokyo shares is causing investors to worry the central bank will
    dominate financial markets, which could lead to price distortions as it continues to grease the economy.The BOJ’s buying spree will make it harder for investors to sift good companies from bad, and raises a host of other problems including misallocating capital, making equities trading more speculative and reducing incentives for companies to meet shareholder needs, analysts say.
  •  The U.S. Federal Reserve has two guiding goals when designing monetary policy: maximum employment and stable   inflation.But as the country’s central bankers converge for their annual symposium in Jackson Hole, Wyoming this week, they are under increasing pressure to reform their own system and goals to better reflect the diversity of America and its incomes.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1337 TARGET 1342 1348 SL BELOW 1332.
  • SELL GOLD BELOW 1331 TARGET 1326 1320 SL ABOVE 1336.

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

22Aug

Comex Trading Signals and Market News – 22 August 2016

INTERNATIONAL COMMODITY NEWS

  • Oil prices settled steady to higher on Friday, with U.S. crude posting its biggest weekly gain since March after surging nearly 25 percent in a little over two weeks, a rally analysts cautioned was not justified by fundamentals.Crude futures have risen almost $10 a barrel since early August on speculation that Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries will agree next month to a production freeze deal with non-OPEC producers led by Russia.
  •  Gold fell sharply amid a resurgent dollar, as investors await a highly-anticipated appearance from Janet Yellen at next  week’s monetary policy symposium in Jackson Hole for more clarity on the Federal Reserve’s uncertain interest rate outlook.On the Comex division of the New York Mercantile Exchange, Gold for December delivery traded between $1,342.05 and $1,357.80 an ounce before settling at $1,346.25, down 10.95 or 0.81% on the session.
  • Silver futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for silver as an alternative  asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming demand.

ECONOMY NEWS

  • The Bank of Japan will not rule out deepening a cut to negative rates it introduced in February, the Sankei newspaper  quoted Governor Haruhiko Kuroda as saying, even as the controversial policy has failed to spur inflation or economic growth.In an interview with the daily, Kuroda said the BOJ’s negative rate policy has not reached its limits.

 

  • The latest judicial probe into Monte dei Paschi di Siena (MI:BMPS) is a procedural necessity but it could still damage Italy’s third-largest bank as it seeks to solve its financial woes, the lender’s chief executive said on Friday.CEO Fabrizio Viola and former chairman Alessandro Profumo are under investigation for alleged false accounting and market manipulation in a case involving derivatives trades, Reuters reported on Thursday.
  •  British Prime Minister Theresa May will not begin formal divorce talks on leaving the European Union before the end of  the year, a government spokeswoman said on Friday.Bloomberg cited unidentified officials as saying that May is sympathetic to the case for acting by April at the latest.”We don’t recognize this briefing,” a Downing Street spokeswoman said when asked about the report.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1345 TGT 1352-1360 SL BELOW 1338
  • SELL GOLD BELOW 1335 TGT 1328-1322 SL ABOVE 1342

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

 

18Aug

Comex Trading Signals and Market News – 18 August 2016

INTERNATIONAL COMMODITY NEWS

  •  Oil prices were under pressure in European trade on Wednesday, falling from a five-week high as market players  awaited fresh weekly information on U.S. stockpiles of crude and refined products.The U.S. Energy Information Administration will release its weekly report on oil supplies at 10:30AM ET (14:30GMT) amid expectations for an increase of 522,000 barrels.
  • Gold prices edged lower in European trade on Wednesday, reversing overnight gains as market players looked ahead  to minutes of the Federal Reserve’s July policy meeting, which many feared could be more hawkish than the statement.Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $9.95, or 0.73%, to  trade at $1,346.95 a troy ounce by 3:05AM ET (07:05GMT), after rising $9.40, or 0.7%, on Tuesday.
  • Silver futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for silver as an alternative  asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming demand.

ECONOMY NEWS

  • South Korea’s finance minister said the country is planning to oppose all kinds of trade protectionist moves through diplomatic measures, although he did not elaborate what actions Seoul may take.Finance Minister Yoo Il-ho said in an  opening speech at a regular government meeting that the global economy faces growing risks from increasing tendencies of trade protectionism, Brexit and the U.S. presidential election campaign.
  • With the U.S. Federal Reserve perhaps edging towards a September rate increase, St. Louis Federal Reserve president  James Bullard is sticking with his view that a single move is all that is needed for a long time to come, and it does not  have to happen anytime soon.Bullard said on Wednesday he did not put much weight on whether the central bank acts in September or even at all this year, given that he now thinks a single hike is all that is needed to maintain unemployment and inflation rates near the Fed’s target levels.
  • Federal Reserve policymakers agree that more economic data is needed before raising interest rates, although some  see a need to tighten policy soon, according to the minutes from the U.S. central bank’s July 26-27 policy meeting.The  minutes, which were released on Wednesday, showed that members of the rate-setting Federal Open Market Committee were generally upbeat about the U.S. economic outlook and labor market.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1358 TGT 1363 1368 SL 1353
  • SELL GOLD BELOW 1333 TGT 1328 1323 SL 1338

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

10Aug

Comex Trading Signals and Market News – 10 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil edged further above $45 a barrel on Tuesday as forecasts for a drop in U.S. inventories and speculation of producer action to prop up prices countered concern about a supply glut.Total U.S. crude inventories were expected to fall by 1 million barrels in weekly reports, although market intelligence firm Genscape has reported a rise of more than 307,000 barrels at the Cushing, Oklahoma U.S. crude delivery hub, traders said.
  • Gold prices slumped to a one-week low in European trade on Tuesday, amid growing expectations of a U.S. interest rate hike by the end of this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange fell to a session low of $1,336.70 a troy ounce, the weakest since July 29. It was last at $1,337.15 by 06:59GMT, or 2:59AM ET, down $4.15, or 0.31%.
  • Copper futures fell during late noon trade in the domestic market on Tuesday as investors and speculators cut positions in the industrial metal as improved China inflation data dimmed the case for fresh policy easing dampening demand prospects.China’s producer prices fell 1.7 per cent year on year in July 2016 marking the smallest decline in nearly two years while consumer inflation stood at 2 per cent matching analysts’ estimates.

ECONOMY NEWS :

  • Indonesia’s President Joko Widodo is considering cutting the corporate tax rate to 17 percent from 25 percent to match Singapore’s tax rate, he was quoted as saying on the cabinet secretary’s website on Wednesday.”The thinking is simple. If Singapore’s corporate income tax is 17 percent and ours is 25 percent, everybody will go there,” Widodo told a tax amnesty roadshow on Tuesday night, according to the website.
  • Several U.S. states studied by S&P Global Ratings are ill-equipped to deal with an economic recession, hampered by the slow rebound in U.S. economic growth after the damage wrought by the Great Recession.Fiscal imbalances, slower state tax revenue growth and increased spending on social services have contributed to a challenging economic landscape, as real GDP has only increased at 2.1 percent per year since 2009, S&P said in a report issued on Tuesday.
  • U.S. household debt hit $12.29 trillion in the second quarter, up $434 billion from a year earlier as auto loans and credit card debt increased, a Federal Reserve Bank of New York survey showed on Tuesday.Some 4.8 percent of the outstanding debt was in some stage of delinquency, down from 5.6 percent from a year ago, according to the quarterly household debt and credit report.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1334 TARGET 1339 1345 SL BELOW 1329
  • SELL GOLD BELOW 1328 TARGET 1323 1317 SL ABOVE 1333

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

9Aug

Comex Trading Signals and Market News – 09 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices struggled in North American trade on Monday, touching a one-week low after the latest U.S.employment report bolstered expectations of faster economic growth and revived speculation that the Federal Reserve will raise interest rates this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange fell to a session low of $1,335.30 a troy ounce, the weakest since July 29. It was last at $1,341.25 by 12:52GMT, or 8:52AM ET, down $3.15, or 0.23%.
  • Oil prices rallied in European trade on Monday, as renewed hopes for an agreement among exporters to freeze output underpinned the market, although a persistent global oversupply kept gains in check.Several OPEC members want to revive the idea of setting new limits on oil production this fall in an effort to stabilize the market, according to people familiar with the matter.
  • Silver futures fell during evening trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for silver as an alternative asset. Stronger greenback makes the shiny metal more expensive for those holding other currencies thus dimming demand.

ECONOMY NEWS :

  • Bank of England policymaker Ian McCafferty said more quantitative easing was likely to be required if the U.K.’s economic decline worsens, the Times reported on Tuesday.”Bank rate can be cut further, closer to zero, and quantitative easing can be stepped up”, McCafferty wrote in an op-ed for the Times.
  • Fannie Mae and Freddie Mac, two government-controlled housing finance agencies, would need a big cash injection to weather another financial meltdown, a government regulator said on Monday.Fannie and Freddie would need as much as $126 billion in taxpayer funds to come through a serious downturn, according to a ‘stress test’ from the Federal Housing Finance Agency.
  • Atlante, the fund set up to rescue Italian banks, has already raised more than the 1.6 billion euros ($1.8 billion) it has pledged to buy part of the bad loan portfolio of troubled lender Banca Monte dei Paschi di Siena.Problem loans totaling around 360 billion euros after a three-year recession have become the focus of investor concerns over Italian banks, weighing heavily on their shares and proving a long-lasting headache for the government.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1334 TARGET 1339 1345 SL BELOW 1329
  • SELL GOLD BELOW 1329 TARGET 1324 1318 SL ABOVE 1334

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

5Aug

Comex Trading Signals and Market News – 05 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices edged lower in European trade on Thursday, after rallying more than 3% overnight after a larger-than- expected gasoline draw eased concerns about global supply glut.Crude oil for September delivery on the New York Mercantile Exchange dipped 7 cents, or 0.14%, to trade at $40.78 a barrel by 07:52GMT, or 3:52AM ET.A day earlier, New York-traded oil jumped $1.32, or 3.34%, after data showed that gasoline supplies in the U.S. fell sharply last week, offsetting a surprise build in crude stockpiles.
  • Gold prices added to overnight losses in European trade on Thursday, as the U.S. dollar strengthened with investors focused on the Bank of England’s policy announcement later in the session.The BOE will release its rate decision, minutes of its Monetary Policy Committee meeting and its quarterly inflation report at 11:00GMT, or 07:00AM ET, on Thursday.
  • Nickel futures tumbled by more than 2 per cent during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for nickel from alloy-makers in the spot market. Mixed US economic data signaled an uncertain demand outlook for metals as services activity cooled in July but private employment growth was stronger.

ECONOMY NEWS :

  • The Bank of England cut interest rates on Thursday for the first time since 2009, revived its bond-buying programme and said it would take “whatever action is necessary” to achieve stability in the wake of Britain’s vote to leave the European Union. The central bank said it expected the economy to stagnate for the rest of 2016 and suffer weak growth throughout next year. It cut its main lending rate to a record low 0.25 percent from 0.5 percent, in line with market expectations.
  • U.S. municipal bond funds reported $783.9 million of net inflows in the week ended Aug. 3, compared with $782.9 million in inflows in the previous week, according to data released by Lipper on Thursday.The four-week moving average remained positive at $950.7 million, said Lipper, a unit of Thomson Reuters.
  • China’s economic growth target appears to have meant higher levels of debt to GDP for the country, Dallas Federal Reserve Bank President Robert Kaplan said on Thursday in Shanghai.Kaplan said on Tuesday in Beijing that he is monitoring how slowing growth, high levels of overcapacity and high levels of debt to gross domestic product (GDP) in major economies outside the United States might be impacting economic conditions in the U.S.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1365 TARGET 1370 1376 SL BELOW 1360
  • SELL GOLD BELOW 1358 TARGET 1353 1347 SL ABOVE 1363

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

4Aug

Comex Trading Signals and Market News – 04 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an industry report showing a fall in U.S. inventories and a weaker dollar.But prices could struggle to make much headway, analysts said, as sentiment remains bearish. A supply glut that has weighed on prices could increase if oil exports actually restart from ports in Libya that have been closed since 2014.
  • Gold prices held steady below a two-year high in European trade on Wednesday, as investors looked ahead to key U.S.data later in the session to gauge the health of the world’s largest economy and whether it is strong enough to warrant an interest rate hike later this year.The U.S. is due to release the ADP jobs report for July at 12:15GMT, or 8:15AM ET, with market analysts expecting a gain of 170,000 private sector payrolls.
  • Nickel futures rose during evening trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the spot market. A pickup in the 19-member Euro Area economy also bolstered the demand outlook for the metal as a combined gauge measuring manufacturing and services in the Euro area climbed to 53.2 in July from 53.1 in June with a reading above 50 signaling expansion.

ECONOMY NEWS :

  • Bank of Japan Deputy Governor Kikuo Iwata said on Thursday that a comprehensive review of the central bank’s monetary policy due next month would focus on the transmission mechanism and obstacles to its monetary policy. The review is not meant to transmit a specific direction for future monetary policy, Iwata said, according to the text of a speech.
  • A constitutional amendment proposed by interim President Michel Temer to put a ceiling on Brazil’s public spending will pass the lower house this year but not the Senate until 2017, lower chamber Speaker Rodrigo Maia said on Wednesday. The proposed cap is the cornerstone of Temer’s strategy to plug a bulging deficit inherited from the Workers Party government of suspended President Dilma Rousseff, yet its impact on fiscal accounts will be delayed until it wins Senate approval next year.
  • The Bank of England is poised to cut interest rates for the first time since 2009 later on Thursday, as Britain’s economy teeters on the brink of recession after June’s vote to leave the European Union.Although the BoE wrong-footed financial experts three weeks ago by leaving rates unchanged, the central bank said most of its policymakers were likely to support action in August as post-referendum uncertainty depressed the economy.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1365 TARGET 1370 1376 SL BELOW 1360
  • SELL GOLD BELOW 1361 TARGET 1356 1350 SL ABOVE 1366

For more information about Commodity market trading or Comex Signals, please visit EPIC RESEARCH PTE LTD.

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