Comex Market

24May

Comex Trading Signals and Market News – 24 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold futures struggled near three-week lows in European trade on Monday, adding to last week’s sharp losses, as markets continued to factor in the possibility of another interest rate hike by the Federal Reserve as early as June. Gold for June delivery on the Comex division of the New York Mercantile Exchange shed $1.90, or 0.15%, to trade at $1,251.00 a troy ounce by 06:45GMT, or 02:45AM ET.
  • Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, returning investor attention to a global glut.Adding to signs the oil market will remain oversupplied, data showed last week the number of rigs operated by U.S. drillers held steady for the first time this year, following a near two-year slump in the rig count.
  • Natural gas futures jumped more than 2 per cent during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend in the overseas market as a smaller than expected gain in US stockpiles eased worries over a supply glut.

ECONOMY NEWS :

  • Wall Street futures continued to move to the downside on Monday as markets digested the latest remarks on monetary policy from members of the Federal Reserve (Fed) with two more officials to speak later in the day. The blue-chip Dow futures dropped 27 points, or 0.15%, by 11:02GMT, or 5:02AM ET, theS&P 500 futures fell 3 points, or 0.16%, while the tech-heavy Nasdaq 100 futures traded down 4 points, or 0.10%.
  • A relatively tight labor market in the United States may put upward pressure on inflation, raising the case for higher interest rates, St. Louis Federal Reserve President James Bullard said on Monday.The comments come as financial markets have increased expectations for a U.S. interest rate hike in June or July and a range of policymakers are now stating that a rise is firmly on the table for the next policy meeting in June.
  • The president of the Federal Reserve (Fed) of St. Louis James Bullard compared and contrasted the difference between the current projection of the U.S. central bank on tightening monetary policy and market expectations on Monday and concluded that there was evidence to support both forecasts.In a speech titled “Slow normalization or no normalization”, Bullard pointed out that the Fed’s view suggested a gradual pace of rate increases over the next several years, while the market’s projection was much shallower, suggesting only a few increases over the forecast horizon which he considered to be “almost no normalization”.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1256.3 TARGET 1261.3 1267.3 SL 1251.3
  • SELL GOLD BELOW 1247.5 TARGET 1242.5 1236.5 SL 1252.5

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

23May

Comex Trading Signals and Market News – 23 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures were trading higher during noon trade in the domestic market on Friday tracking a bullish trend in the global market as the sharp losses in the previous session amid bets of a Fed rate hike in June offered a good bargain buying opportunity to traders in the precious metal at existing levels.
  • Natural Gas futures fell in the domestic market during noon trade on Friday as investors and speculators exited positions in the energy commodity as rising US supplies signaled weak demand for the power plant fuel in the world’s biggest gas consuming nation.The EIA on Thursday said that US gas stockpiles climbed by 73 billion cubic feet to 2.754 trillion cubic feet in the week ended May 13 2016.
  • Gold prices fell by 0.19 per cent on Friday as market players continued to price in the improved chances of multiple rate increases from the Federal Reserve this year following hawkish comments from the US central bank on the likelihood of a June rate hike. Federal Open Market Committee (FOMC) said in the minutes from its April meeting that it will likely raise short-term rates at its next meeting in June if the economy continues to improve as expected.

ECONOMY NEWS :

  • Japan’s extraordinarily easy monetary policy, a source of friction with the United States for pushing the yen’s value down, has had some positive effects on emerging Asian economies, including increased growth and equity prices, International Monetary Fund researchers have foundThe IMF findings were released in a paper on Friday, as Group of Seven finance ministers and central bank governors began meeting in Japan, where divergent views on Japan’s monetary policy and currency market interventions were expected to be a hot topic.
  • The United States issued a fresh warning to Japan against competitive currency devaluation on Saturday, exposing a rift on exchange-rate policy that overshadowed a Group of 7 finance leaders gathering hosted by the Asian nation. Japan and the United States are at logger-heads over currency policy with Washington saying Tokyo has no justification to intervene in the market to stem yen gains, given the currency’s moves remain “orderly”.
  • A group of global banks and clearing houses, working with U.S. regulators, said on Friday it has identified two possible replacements for Libor, the benchmark interest rate for $160 trillion worth of credit for everything from home mortgages to corporate loans.The Alternative Reference Rates Committee (ARRC) said that together with the Federal Reserve it has identified the Fed’s Overnight Bank Funding Rate (OBFR) and the overnight rate on U.S. Treasury securities pledged as collateral in repurchase, or repo, transactions as alternatives.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1261 TARGET 1266 1272 SL 1256
  • SELL GOLD BELOW 1247 TARGET 1242 1236 SL 1252

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

 

20May

Comex Trading Signals and Market News – 20 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices fell by 1.87 per cent on Thursday as the minutes of the Federal Reserve’s April meeting weighed on the commodity with prospects for a rate hike as early as June expected to boost the greenback further. Federal Reserve sent strong indications in its April minutes that it could raise interest rates next month triggering a rapid increase in the slumping dollar.
  • Gold prices fell as minutes from the Federal Reserve suggested a near-term rate hike is possible. Minutes released by the Federal Reserve from its April policy meeting suggested an interest-rate increase in June was possible if incoming data showed an improving economy.
  • The report released by World Metal Statistics (WBMS) that this year, the global primary aluminum market was in a slight excess supply of 48,000 tons during the first 3 months of this year. The primary aluminum demand during the first 3 months was 13.28 million tons, reducing by 664,000 tons compared with the same period last year.

ECONOMY NEWS :

  • The International Monetary Fund backed Saudi Arabia’s sweeping economic reform plan on Thursday and said the kingdom was cutting spending at the right speed to cope with a huge state budget deficit caused by low oil prices.Late last month, Deputy Crown Prince Mohammed bin Salman announced steps to reduce the kingdom’s dependence on oil exports over the next 15 years, including subsidy cuts, tax rises, sales of state assets, a government efficiency drive and efforts to spur private sector investment.
  • Global economic uncertainties and measures to deal with tax evasion will be among the key topics that finance leaders of the G7 advanced economies will discuss at a weekend meeting, Japanese Finance Minister Taro Aso said on Thursday.Bank of Japan Governor Haruhiko Kuroda also warned that there are “various challenges” that G7 economies need to address as the global economy suffers from subdued growth.
  • The first batch of foreign commercial banks has registered to directly trade yuan used for overseas trade settlement and can begin doing so on Friday, the foreign exchange market operator said. Approved foreign commercial banks include CTBC Bank, Taipei Fubon Bank, Standard Chartered (L:STAN) and Citibank Hong Kong Ltd (C).Foreign central banks have already been approved to trade directly in the country’s massive interbank forex market.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1262 TARGET 1267 1273 SL 1257
  • SELL GOLD BELOW 1252 TARGET 1247 1241 SL 1257

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

19May

Comex Trading Signals and Market News – 19 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices held near the prior session’s seven-month highs in European trade on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell for the second straight week. The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, amid expectations for a drop of 2.9 million barrels.
  • Gold futures were lower in European trade on Tuesday, after posting modest overnight gains, as market players looked ahead to minutes of the Federal Reserve’s April policy meeting, which many feared could be more hawkish than the statement.Gold for June delivery on the Comex division of the New York Mercantile Exchange dipped $2.00, or 0.16%, to trade at 1,274.80 a troy ounce by 06:46GMT, or 02:46AM ET.
  • Copper prices fell on Wednesday as the dollar rallied after a stream of encouraging US economic data supported the case for more rate rises this year.A US Federal Reserve policymaker said that he will push for an interest rate hike in June or July and two others still see up to three rate increases this year leaving the door open to a change in monetary policy relatively soon.

ECONOMY NEWS :

  • Japan’s gross domestic product (GDP) rose 0.4% on quarter in the first quarter of 2016, the Cabinet Office said on Wednesday. This marked a sharp reversal after a revised 0.4% contraction in the previous quarter. On a yearly basis, GDP surged 1.7% following the downwardly revised 1.1% contraction in the three months prior. Strong consumer demand and higher government spending helped offset relatively weak business investment in January-March quarter.
  • Chinese home prices increased further in April, figures from the National Bureau of Statistics showed Wednesday. On a monthly basis, house prices rose 65 cities out of 70 surveyed by the government, while it fell in 5 cities.The highest increase in house prices were noted in Hefei, by 5.8% and the steepest decline was seen in Jinzhou, by 0.5%. Compared with the same month of last year, house prices grew in 46 cities out of the 70 cities in April, while it dropped 23 cities and remained flat in 1 city.
  • Many euro zone countries do not have the leeway or urgent need to boost fiscal spending, so they should focus on reform instead to lift their growth potential, Jens Weidmann, the head of Germany’s Bundesbank said on Wednesday. An expansionary monetary stance is currently appropriate but should not be maintained longer than absolutely necessary because the negative side effects are increasing with time, Weidmann told Reuters before departing for the G7 summit in Japan.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
  • SELL GOLD BELOW 1268.8 TARGET 1263.8 1257.8 SL 1273.8

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

18May

Comex Trading Signals and Market News – 18 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold futures were higher in European trade on Tuesday, adding to modest overnight gains, as investors looked ahead to key U.S. inflation data due later in the session to gauge if the world’s largest economy is strong enough to withstand further rate hikes in 2016.
  • Oil prices rose to fresh seven-month highs in European trade on Tuesday,adding to sharp overnight gains amid mounting concerns over global supply disruptions.Oil prices have been well-supported in recent sessions due to a combination of Nigerian,Libyan and Venezuelan supply outages, declining U.S. shale output and reduced production of Canadian crude as a result of fires in Alberta’s oil sands region.
  • Silver futures rallied in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal ahead of key US consumer price data which may dictate the likely trajectory of US interest rate movement this year. Data released on Monday showed that manufacturing activity in New York shrank in May following three months of expansion amid weakness in new orders and inventories signaling softness in the American manufacturing sector.

ECONOMY NEWS :

  • The main concern regarding the financial stability of banks in the euro zone is that new EU rules on rescuing lenders without using taxpayers’ money have not yet been tested on them, the European Central Bank’s chief economist said on Tuesday.Speaking at a conference in Brussels, Peter Praet said that financial stability has been enhanced but added that “the main concern is that bail-in for large and complex institutions has not been tested yet”.
  • The euro zone banking sector is facing a severe profitability shock, European Central Bank chief economist Peter Praet said on Tuesday, pointing to high costs, an excessive amount of bad debt in some countries and the lack of necessary consolidation.”We have in the sector a severe profitability shock,” Praet told a conference in Brussels.Praet said the sector would benefit from the formation of pan-European banking groups and the completion of the banking union.
  • A recent poll taken ahead of the June 23 referendum to decide on the U.K.’s membership in the European Union (EU) showed Tuesday that those preferring to leave surpassed those wishing to remain, though one out of every five Britons were still undecided.The TNS survey showed that those British citizens preferring a Brexit, as the preference to leave the EU is known, rose by five points to 41%, while support for the Remain camp slipped one point to 38%.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1272 TARGET 1277 1283 SL 1267
  • SELL GOLD BELOW 1268.8 TARGET 1263.8 1257.8 SL 1273.8

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

16May

Comex Trading Signals and Market News – 16 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices ended a three-day bull run on Friday, falling as a strong dollar made it more expensive to hold oil positions though losses were cushioned by Nigerian outages that have slashed output to the lowest in 22 years. The dollar (DXY) hit a two-week high against a basket of currencies on Friday, lifted by expectations the U.S. Federal Reserve will raise rates again before any other major central bank.
  • Gold prices rose on Friday, but gains were limited by a stronger U.S. dollar as investors awaited the release of a number of U.S. economic reports later in the day.On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.35% at $1,275.80.The June contract ended Thursday’s session 0.34% lower at $1,271.20 an ounce.Futures were likely to find support at $1,258.70, the low from May 10 and resistance at $1,286.50, the high from May 9.
  • Zinc prices rose by 0.72 per cent on Thursday at the Multi Commodity Exchange (MCX) due to rising demand in the domestic spot market coupled with a firm trend in the base metal overseas. Sentiments further strengthen as data were revealed which eased demand concerns in China.

ECONOMY NEWS :

  • China said it has signed a multilateral agreement to share tax information on multinational companies, paving the way for it to join the fight on global tax avoidance.China signed the country-by-country tax reporting agreement, along with Canada, India, Iceland, Israel and New Zealand, during a meeting of the OECD Forum on Tax Administration (FTA) in Beijing this week, bringing the number of countries that have signed the pact to 39.
  • Eurozone gross domestic product climbed 0.5 percent in the first quarter from the prior quarter, when it grew 0.3 percent, the flash estimate from Eurostat showed Friday. Eurostat previously estimated 0.6 percent growth for the first three months of 2016. On a yearly basis, GDP growth eased marginally to 1.5 percent from 1.6 percent. The annual growth rate for the first quarter was revised down from 1.6 percent. At the same time, the EU28 economy logged a 0.5 percent sequential growth and 1.7 percent annual expansion. Both growth figures were kept unchanged from the previous release.
  • Germany’s gross domestic product expanded 0.7 percent sequentially in the first quarter, faster than the 0.3 percent growth in the previous three months, according to provisional data published by Destatis on Friday. GDP climbed 1.3 percent on a yearly basis, weaker than the 2.1 percent expansion seen in the previous quarter.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1276.3 TARGET 1281.3 1287.3 SL 1271.3
  • SELL GOLD BELOW 1271 TARGET 1266 1260 SL 1276

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

13May

Comex Trading Signals and Market News – 13 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices rose toward six-month highs on Thursday, supported by data from the International Energy Agency (IEA) showing tightening supply in addition to a surprise drop in U.S. crude inventories.Brent crude futures (LCOc1) were trading at $47.92 per barrel at 0944 GMT, up 32 cents from their last settlement and near a six-month high of $48.50 hit at the end of April.
  • Global gold demand at the start of 2016 rose at its fastest pace ever on inflows from exchange traded funds (ETFs), according to an industry report released on Thursday.Gold demand increased by 21% year-on-year to 1,290 tons in the first quarter, according to the World Gold Council report..That was the fastest pace ever for the first three months of the year and the second largest quarter on record.
  • Amid pick-up in demand from alloy-makers at domestic spot markets and a firming trend in base metals overseas, nickel prices edged higher 0.56% to Rs 593.70 per kg in futures trade today as speculators raised their bets. At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 3.30, or 0.56%, to Rs 593.70 per kg in a business turnover of 660 lots.

ECONOMY NEWS :

  • The Bank of England stepped up its warnings about the economic risks if Britain votes to leave the European Union, saying on Thursday that sterling could fall sharply and unemployment would probably rise.The central bank’s interest rate setters — who voted unanimously to keep rates on hold — said that in the event of a vote for so-called Brexit on June 23, households and companies were likely to hold off spending and investment.
  • The head of the European Commission said on Thursday it would be a catastrophe if Britain voted to leave the European Union, but he did not expect that to happen.Commission President Jean-Claude Juncker, speaking at a conference on Europe at the German Foreign Ministry, said it was up to Britan to decide whether to exit the bloc in a June 23 referendum, and the decision would have far-reaching consequences for Britain and Europe.
  • Indian economy is slowly gaining momentum and & is projected to grow by 7.3% this year, a United Nations report stated today. The World Economic Situation and Prospect report, in its mid-2016 update, has said India is expected to achieve a 7.5% GDP growth in 2017 and the economic prospects of the South Asian region will be contingent on the growth trajectory of India and Iran.Despite some delays in domestic policy reforms and enduring fragilities in the banking system, investment demand is supported by the monetary easing cycle, rising FDI, and government efforts towards infrastructure investments and public-private partnerships, noted the UN.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1273.2 TARGET 1278.2 1284.2 SL 1268.2
  • SELL GOLD BELOW 1265.8 TARGET 1260.8 1254.8 SL 1270.8

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

12May

Comex Trading Signals and Market News – 12 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices rose by 0.24 per cent on Wednesday on heavy short covering after suffering one of its worst single-day sessions on the calendar year as investors continued to react to devastating wildfires in Canada and widespread changes in the leadership structure of Saudi Arabia’s leading state-run oil company.Traders continued to monitor the catastrophic fires in Canada where estimates of the number of barrels being forced offline from the firestorms continued to rise.
  • Gold prices rose by 0.70 per cent on Wednesday as investors continued to monitor movements in the US dollar. The greenback fell as investors locked in gains following its steep rise after continued comments about possible intervention by the Japanese government. Dollar weakness usually benefits gold as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.
  • The correction last evening was not as eventful as Monday in Copper prices. June futures closed at Rs 312.15, down
    0.32%. The data from China’s National Statistics Bureau said its Consumer Price Index for April rose 2.3% on an annual basis, slightly lower than consensus estimates of 2.4% and in line with March’s reading.The prices from last few days have been under severe threat first by the Chinese import numbers and now the news of Freeport selling its key Copper business.

ECONOMY NEWS :

  • U.S. policymakers are “pretty clear” in their views that Japan should refrain from any steps to intentionally weaken the yen, such as intervention in currency markets, a key economic adviser to Prime Minister Shinzo Abe said on Wednesday. Japanese financial authorities thus face a tough situation, with few options to contain unwelcome yen rises, said Koichi Hamada, an emeritus professor at Yale University who has close contacts with senior U.S. and Japanese policymakers.
  • India will start imposing capital gains taxes on investments coming from Mauritius starting from next year as part of a new tax treaty agreed by both countries, according to a government statement on Tuesday.The taxes on capital gains will apply to investments made from April 1, 2017 and will be imposed at 50 percent of the domestic rate until March 31, 2019, and at the full rate thereafter.
  • The European Central Bank’s easy monetary policy is justified by a subdued growth outlook in the euro zone, a top official at Germany’s Bundesbank said on Wednesday, reaffirming his institution’s defence of the ECB against German criticism. “The current, expansionary monetary policy is justified by the subdued outlook for inflation and subdued growth – although of course there are side effects that increase with time, and even if you can argue about individual instruments,” Bundesbank board member Andreas Dombret said at an event in Berlin.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1280 TARGET 1285 1292 SL 1273
  • SELL GOLD BELOW 1270 TARGET 1265 1658 SL1275

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

11May

Comex Trading Signals and Market News – 11 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices fell by 0.34 per cent on Tuesday as market players looked ahead to fresh weekly information on US stockpiles of crude and refined products. The American Petroleum Institute will release its inventories report later in the day while Wednesday’s government report could show crude stockpiles rose by 0.5 million barrels in the week ended May 6.
  • Gold prices gained marginally by 0.05 per cent on Tuesday after mixed consumer and producer price data from China. CPI for April fell 0.2 per cent month-on-month as expected and at a 2.3 per cent pace year-on-year a tad lower than the 2.4 per cent gain seen. PPI for April year-on-year fell 3.4 per cent compared to a expected drop of 3.8 percent.
  • German industrial production declined 1.3 percent on a monthly basis in March, following a revised 0.7 percent drop in February, Destatis reported Tuesday. This was the second consecutive decline and the biggest since August 2014, when output slid 2.5 percent. Excluding energy and construction, production in industry fell 1.2 percent. Within industry, energy production gained 0.3 percent, while construction output decreased 3.2 percent. On a yearly basis, growth in industrial production eased to 0.3 percent from 2 percent, the economy ministry said.

ECONOMY NEWS :

  • Japan will intervene in foreign exchange markets if the yen strengthens to 90-95 per dollar, even if that upsets the United States, a key economic adviser to Prime Minister Shinzo Abe said on Tuesday, asserting the right to curb currency volatility.Koichi Hamada, an emeritus professor of economics at Yale University and special adviser to the Cabinet, told Reuters that he had recently heard “many concerns” from economists and officials in the United States about the possibility of Japan intervening in currency markets – something it last did five years ago when it acted to weaken the yen.
  • Consumer confidence in India rose to the highest since November last year, led by more optimistic expectations for future business conditions while sentiment towards spending took a backseat. The MNI India Consumer Sentiment Indicator rose 2% to 113.4 in April from 111.2 in March. Sentiment, though, was down 7.1% compared with the same month a year ago, and 6% below the series average. More positively, it is up from the recent trough seen in December, which had left it at the lowest level in the history of the survey. The rise in April marks a good start to Q2, after it fell to a record low level in the previous quarter.
  • Policy makers around the world need to ask if central banks injecting money into the economy through “helicopter drop” is politically feasible or produce the intended targets, India’s Central Bank Governor Raghuram Rajan said on Tuesday.”The real point is again: It is not absolutely clear that throwing the money out of the window, or targeted checks to beneficiaries… will be politically feasible in many countries, or produce economically the desired effect,” he said during a lecture at the London School of Economics.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1268 TARGET 1273 1279 SL 1263
  • SELL GOLD BELOW 1261 TARGET 1256 1250 SL 1266

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

10May

Comex Trading Signals and Market News – 10 May 2016

INTERNATIONAL COMMODITY NEWS :

  • Copper futures plunged by more than 1 per cent during noon trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal as dismal China trade data underlined concerns over the health of the world’s second biggest economy clouding the demand outlook for copper.Chinese exports fell 1.8 per cent in dollar terms in April and imports suffered an 18th straight month of decline.
  • Gold prices fell by 0.75 per cent on Monday even as the Bank of Japan minutes saw some board members down-beat on hitting the inflation target within the current forecast suggesting continued easy policy. The Bank of Japan published the minutes of its April policy meeting showing some numbers expect the target date for 2 per cent sustained inflation may need to be pushed back.
  • Crude oil prices rose by 1.71 per cent on Monday as supply outages persisted over the weekend from Canada’s    wildfires that have shut half the country’s vast oil sands capacity. Cooler weather light rain and winds opposed to the direction of flames helped control the advance of the blaze that razed Alberta’s oil sands boomtown Fort McMurray. Yet energy firms such as Statoil and Husky Statoil shut their facilities in the area as a precaution.

ECONOMY NEWS :

  • The U.S. economy’s fundamentals are solid and growth this year should pick up to around 2.5 percent, but the Federal Reserve’s current ‘wait and see’ approach to monetary policy is appropriate, a Fed policymaker said on Monday.Charles Evans, president of the Chicago Fed, told a conference in London that business investment and inflation remain lower than he would like.
  • Japan’s consumer confidence weakened less-than-expected in April, after improving in the previous month, survey data from the Cabinet Office showed Monday. The seasonally adjusted consumer confidence index fell to 40.8
    in April from 41.7 in March. Among the individual components of the survey, the overall livelihood index worsened to 39.6 in April from 40.5 in the prior month. Similarly, the employment sub-index dropped from 43.9 to 42.8. At the same time, the indicator for income growth improved slightly to 40.8 from 40.6.
  • China’s exports dropped 1.8 percent year-over-year in April, while it was expected to remain flat, data published by the General Administration of Customs revealed. Imports plunged 10.9 percent in April from a year ago. The visible trade surplus of the country came in at $45.56 billion in April, which was above the expected surplus of $40.00 billion.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1280 TARGET 1285 1291 SL 1275
  • SELL GOLD BELOW 1277 TARGET 1272 1266 SL 1282

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

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