Comex Market

15Dec

Comex Trading Signals and Market News – 15 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold traded narrowly higher in Asia on Tuesday with investors largely on the sidelines ahead of this week’s Federal Reserve meeting widely expected to hike interest rates.On the Comex division of the New York Mercantile Exchange, gold for February delivery inched 0.08% up to $1,064.20 a troy ounce.Crude oil prices in Asia on Tuesday failed to hold gains from the U.S. as investors continued to monitor massive over supply.
  • On the New York Mercantile Exchange, WTI crude for January delivery fell 0.185% to $36.25 a barrel. Ahead on Tuesday, the American Petroleum Institute will release estimates ofU.S. crude and refined product stockpiles held last week. That will be followed Wednesday by more closely-watched figures from the U.S. Department of Energy.
  • The once-deep discount for benchmark U.S. crude oil prices versus global rates is about to disappear for the first time since the rise of the shale oil boom, a sudden reversal that highlights the market’s ongoing flux. On Monday, U.S. West Texas Intermediate for delivery in March settled just 6 cents below global Brent crude for the same month, the narrowest gap since 2010. It was trading at more than $1 a barrel two days ago.

ECONOMY NEWS :

  • Germany will lay out a climate action plan for 2050 by the middle of next year and is talking to industry groups and trade unions about ways to end coal-fired power generation, its Environment Minister said on Monday. Global leaders clinched a breakthrough deal in Paris on Saturday to transform the world’s fossil fuel-driven economy within decades in a bid to arrest global warming.
  • The wave of refugees flooding into Austria could bolster the country’s economic growth if Vienna continues to work on integrating them quickly, the International Monetary Fund (IMF) said on Monday.Hundreds of thousands of migrants, many of them fleeing war and poverty in the Middle East, Afghanistan and elsewhere, have reached Austria since early September, most continuing on into neighboring Germany.
  • The sell off in the bellwether high risk corporate debt market is spreading fears that the U.S. economy is on less sound footing than investors thought.On Monday, the widely-traded iShares iBoxx $ High Yield Corporate Bond ETF – essentially a basket of junk debt -expanded its losses for the year to 12 percent. A competitor product, the SPDR Barclays (L:BARC) High Yield Bond ETF, expanded its losses for the year to 13.4 percent.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1070 TARGET 1075 1082 SL 1065
  • SELL GOLD BELOW 1063 TARGET 1058 1052 SL 1068

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

14Dec

Comex Trading Signals and Market News – 14 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold prices slipped lower in European morning hours on Friday, as expectations for a U.S. rate hike next week continued to support demand for the greenback and to weigh on demand for the precious metal. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.20% at $1,069.90.
  • Taking weak cues from overseas markets, silver prices fell by Rs 114 to Rs 34,518 per kg in futures trade today, as participants trimmed positions.In futures trading at the Multi Commodity Exchange, silver for delivery in far-month May next year shed Rs 114 or 0.33% to Rs 34,518 per kg in a business turnover of 7 lots.
  • US crude prices remained near 2009 lows in early Asian trading on Friday as oil output in the Middle East continued to rise despite an existing global glut.US crude futures were at $36.67 per barrel at 0029 GMT, down 9 cents from their last settlement, and only slightly above 2009 lows of $36.38 reached on Thursday.

ECONOMY NEWS :

  • Greek Prime Minister Alexis Tsipras’ governing majority is looking fragile as crunch time approaches for a pension reform that will test his resolve to impose painful measures to satisfy Athens’ international creditors. The coalition of Tsipras’ leftist Syriza party and the right-wing nationalist Independent Greeks has a majority of just three seats in parliament, and pro-European opposition parties that voted for Greece’s latest bailout are publicly refusing him any help on the toxic pension issue.
  • The Reserve Bank of India did not accept all the bids at its 150-billion-rupee ($2.24 billion) government bond sale on Friday, including for the benchmark 10-year debt, marking the second week in a row when it has rejected some of the bids.The RBI accepted only 49.4 billion rupees worth of bids for its 70-billion-rupee sale of 2025 bonds IN077225G=CC , and accepted only 22.9 billion rupees of the 30 billion rupees worth of 2034 bonds being sold. The remaining three bonds were fully allocated.
  • The European Central Bank’s policy measures, including its recently extended asset-purchase programme,are delivering “tangible results” and will bring inflation back to the bank’s target, the ECB’s chief economist said on Friday.”This complex package of policy measures has led to a significant easing in borrowing rates for the broad economy and should thereby continue to contribute to… the return of inflation rates in the medium term to levels closer to 2 percent,” Peter Praet said.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1075 TARGET 1080 1086 SL 1069
  • SELL GOLD BELOW 1070 TARGET 1065 1059 SL 1076

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

11Dec

Comex Trading Signals and Market News – 11 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper prices rose on Thursday, after mining giant Glencore (L:GLEN) announced wider spending cuts as the commodities group races to cut debt and shore up its balance sheet.The Swiss-based company cut its capital expenditure for 2016 to $3.8 billion, from an earlier estimate of $5 billion.Glencore said last month it will cut 55,000 metric tons of copper output by the end of 2017, the latest in a string of supply cuts.
  • Oil prices inched up on Thursday, but held near seven-year lows amid uncertainty about how quickly the global glut of crude is set to shrink.Oil futures are down more than 10% since the Organization of the Petroleum Exporting Countries failed to agree on output targets last week. As a result, crude prices are expected to remain stubbornly low amid a glut of oversupply on global energy markets.
  • Gold futures edged lower on Thursday, but still stuck in familiar trading range, as market players braced for the first U.S. rate hike since 2006 next week.The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.2% to 97.53. Dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains.

ECONOMY NEWS :

  • India’s cabinet has cleared a $14.7 billion Japanese proposal to build the country’s first bullet train line, a government minister and an official said on Thursday, one of the biggest foreign investments in Indian infrastructure. The decision ahead of Japanese Prime Minister Shinzo Abe’s visit beginning on Friday gives Tokyo an early lead over China, which is also bidding to construct high-speed train lines along large parts of India’s largely British-era rail system.
  • The Reserve Bank of India (RBI) said it would intervene in the rupee currency futures market, if required, to manage excessive volatility, ahead of next week’s FOMC meeting. The RBI very often intervenes in the forex market in order to maintain orderly conditions in the market. The central bank said the data for the exchange-traded currency derivatives market would be published in monthly bulletins. The disclosure is the first such by RBI.
  • A great majority of European Central Bank governors do not want to boost quantitative easing further, Yves Mersch said, adding that its move to buy new bonds as old ones mature would inject hundreds of billions of euros. “The very large majority of the Governing Council is of the view that the measures are appropriate and that more is not needed to reach our goal,” Mersch told a journalists’ club dinner on Wednesday, referring to the group that sets policy to keep inflation ticking upwards.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1075 TARGET 1080 1086 SL 1069
  • SELL GOLD BELOW 1070 TARGET 1065 1059 SL 1076

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

10Dec

Comex Trading Signals and Market News – 10 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper prices inched up on Wednesday, after data showed that Chinese consumer price inflation rose last month, indicating that Beijing’s effort to bolster growth in the world’s second-largest economy may be starting to take effect. The National Bureau of Statistics reported that China’s consumer price index rose 1.5% in November from a year earlier, slightly better than economists’ forecast for an increase of 1.4% after a 1.3% rise in October.
  • Gold edged higher on Wednesday, aided by weakness in the U.S. dollar, but the metal’s upside remained limited as market players prepared for a U.S. rate hike this month.The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% to 98.27. Dollar-priced commodities become cheaper to investors holding other currencies when the greenback declines.
  • West Texas Intermediate oil futures rebounded on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories fell for the first time in 11 weeks.The U.S. Energy Information Administration will release its weekly report on oil supplies at 10:30AM ET Wednesday. The data was expected to show that crude inventories rose by 252,000 barrels last week

ECONOMY NEWS :

  • The emerging economies are facing their fifth consecutive year of slow growth, theWorld Bank noted in a latest update. In a new policy research note ‘Slowdown in Emerging Markets: Rough Patch or Prolonged Weakness?’, the World Bank said Since 2010, emerging market growth has been buffeted by global headwinds such as weak international trade,slowing capital flows, and slumping commodity prices, external challenges which have compounded domestic problems including blunted productivity and bouts of politicaluncertainty.
  • Bank of England policymakers differed last month on how soon they might increase the amount of capital banks must hold against economic downturns, the central bank said on Wednesday.Last week the central bank said British banks had nearly completed the job of building up their capital defences, and stopped short of any immediate action to curb lending to consumers or small-scale property investors.
  • Markets failed to assess properly the signals the European Central Bank was sending last week, Governing Council member Ewald Nowotny said on Wednesday, adding that analysts rather than the ECB were to blame for any misunderstanding. The ECB eased monetary policy further last week to fight stubbornly low inflation but kept some of its powder dry, disappointing high market expectations of greater stimulus

TRADING STRATEGY :

  • BUY GOLD ABOVE 1080 TARGET 1085 1091 SL 1074
  • SELL GOLD BELOW 1075 TARGET 1070 1064 SL 1081

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

9Dec

Comex Trading Signals and Market News – 09 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold prices inched lower on Tuesday, as market players started looking ahead to the Federal Reserve’s upcoming policy meeting later this month.While investors widely expect the Fed to raise rates at its December 15-16 meeting, they anticipate the pace of increases to be gradual. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.
  • Oil prices inched up on Tuesday, but held near the previous session’s seven-year lows amid a global supply glut. On the ICE Futures Exchange in London, Brent oil for January delivery tacked on 32 cents, or 0.79%, to trade at $41.05 a barrel during European morning hours. A day earlier, London-traded Brent sank to $40.60, a level not seen since February 2009, before ending at $40.73, down $2.27, or 5.28%
  • Copper prices swung between small gains and losses on Tuesday, as the latest trade figures out of China added to concerns over the health of the world’s second-biggest economy, while also pointing to strong demand for the red metal.Chinese exports slumped 6.8% from a year earlier in November, worse than forecasts for a decline of 5.0%, while imports dropped 8.7%, compared to expectations for a tumble of 12.6%. That left China with a surplus of $54.1 billion last month, down from $61.6 billion in October.

ECONOMY NEWS :

  • China and Russia will sign nuclear energy, aviation and space deals next week during a visit to China by Russian Prime Minister Dmitry Medvedev, a senior Chinese diplomat said on Tuesday.Medvedev will be in China to attend a summit of prime ministers from the Shanghai Cooperation Organization, a Chinese and Russia-lead security block, in the central Chinese city of Zhengzhou.
  • The slowing world economy looks set to get a boost from stronger consumer demand next year, as low inflation boosts the real value of workers’ pay rises to a three-year high, a survey said on Tuesday.A plunge in oil prices has pushed inflation sharply lower, and means real wages are predicted to rise by an average of 2.5 percent globally in 2016, the study by human resources firm Korn Ferry Hay Group showed.
  • UK house prices declined 0.2 percent in November from October, when it grew 1 percent, survey data from the Lloyds Banking Group’s Halifax division showed Tuesday. Prices in the three months to November advanced 9 percent from same period a year earlier compared to a 9.7 percent rise in three months to October. The annual growth was expected to slow slightly to 9.5 percent. During September to November, house prices climbed 1.4 percent from the preceding three months. This was the smallest rise since December 2014.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1075 TARGET 1080 1086 SL 1069
  • SELL GOLD BELOW 1070 TARGET 1065 1059 SL 1075

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

8Dec

Comex Trading Signals and Market News – 08 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper prices inched up on Monday to hit a one-week high, as market players looked ahead to a deluge of data this week which could provide more evidence of a slowdown in China.Trade figures are due on Tuesday, followed by inflation on Wednesday and industrial production and retail sales on Saturday.
  • Crude oil prices dipped further on Monday after OPEC failed to agree on output targets to reduce a bulging glut that has cut prices by more than 60 percent since June 2014.The Organization of the Petroleum Exporting Countries failed to agree on an oil production ceiling on Friday after a disagreement between Saudi Arabia and Iran meant that the group for the first time in decades didn’t even mention an output quota, which previously stood at 30 million barrels per day (bpd).
  • Gold prices were little changed near the previous session’s three-week high on Monday, as market players prepared for the first U.S. rate hike since 2006 later this month.Gold for February delivery on the Comex division of the New York Mercantile Exchange shed 60 cents, or 0.06%, to trade at $1,083.50 a troy ounce during European morning hours.

ECONOMY NEWS :

  • Indian regulators have launched an unprecedented drive to boost corporate transparency, bombarding firms with disclosure demands, but clumsy execution has created suspicions of a box-ticking exercise that may not entirely achieve its aim.Poor disclosure among India-listed firms is a turnoff for foreign investors, a weakness Asia’s third-largest economy can ill afford as competition for overseas capital heats up among emerging markets in expectation of higher U.S. interest rates.
  • Germany’s industrial production rose a calendar-and-seasonally adjusted 0.2 percent from September, when it declined 1.1 percent, preliminary data from Destatis showed Monday. Excluding energy and construction, industrial production grew 0.7 percent monthly in October. Capital goods output increased 2.7 percent, while production of intermediate goods decreased 1.1 percent. Consumer goods output fell 0.1 percent. Energy output decreased 5.9 percent, while construction rose 0.7 percent.
  • Prime Minister Malcolm Turnbull on Monday unveiled a A$1.1 billion ($806 million) package to boost innovation in Australia, using his first major economic policy statement since becoming leader to map out a pathway beyond the country’s fading resources boom.The plan’s incentives include reductions in the capital gains tax for startups, generous income tax rebates for retail investors, changes to bankruptcy laws to encourage more risk-taking by entrepreneurs and immigration changes to lure top talent.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1085 TARGET 1090 1096 SL 1079
  • SELL GOLD BELOW 1080 TARGET 1075 1069 SL 1085

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

7Dec

Comex Trading Signals and Market News – 07 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper prices fell 0.48% in futures trade today amid a weak trend in the global market and subdued domestic demand.At the Multi Commodity Exchange, copper for delivery in far-month April next year shed Rs 1.50, or 0.48%, to Rs 308.35 per kg in a business turnover of one lot.On similar lines, metal for delivery in February was down by Rs 1.40, or 0.45%, to Rs 308.35 per kg in 330 lots.
  • Silver prices recovered by Rs 52 to Rs 33,529 per kg in futures trade today after speculators enlarged positions amid firming global trends.At the Multi Commodity Exchange, silver for delivery in December was up by Rs 52, or 0.16%, to Rs 33,529 per kg in a business turnover of four lots.Similarly, the white metal for delivery in far-month March next year was trading higher by Rs 19, or 0.06%, to Rs 34,275 per kg in 884 lots.
  • Gold prices slipped to fresh six-year lows in European morning hours on Friday, as expectations for a U.S. rate hike this month overshadowed the previous session’s policy statement by the European Central Bank and sent the dollar higher.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.15% at $1,059.50.

ECONOMY NEWS :

  • U.S. job growth likely remained solid in November in a show of the economy’s resilience, which could pave the way for the Federal Reserve to raise interest rates this month for the first time in nearly a decade. A Reuters survey of economists forecast nonfarm payrolls rising 200,000, adding to the 271,000 jobs created in October.
  • Japan’s defense budget for the next fiscal year is likely to top 5 trillion yen ($40.8 billion) for the first time ever, according to media reports. The budget, which is expected to be finalized later this month, will provide the Shinzo Abe-led government a significant boost toward strengthening the role of its armed forces — a sensitive issue for its neighbors China and South Korea because of the aggression they faced during World War II.
  • India’s mines ministry has written to the finance ministry proposing a hike in the import duty on aluminium to 7.5 percent from 5 percent to protect local producers suffering from rising inbound shipments, Mines Secretary Balvinder Kumar told Reuters. “Domestic companies are reporting operating losses as imports are rising,” Kumar said on Friday, but added he could not be certain that the finance ministry would accept the proposal.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1065 TARGET 1070 1076 SL 1059
  • SELL GOLD BELOW 1055 TARGET 1050 1044 SL 1061

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

4Dec

Comex Trading Signals and Market News – 04 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil futures recovered on Thursday, with West Texas Intermediate prices reclaiming the $40-level as market players looked ahead to Friday’s highly-anticipated OPEC meeting in Vienna.Media reports said that Saudi Arabia, which has so far resisted pressure to waver from its no-cut policy, will propose a supply cut of 1 million barrels per day, as long as other producers like Iran, Iraq and Russia join them.
  • Gold prices sank to the lowest level in almost six years on Thursday, amid mounting expectations that the Federal Reserve will raise interest rates at its December policy meeting.Fed Chair Janet Yellen said on Wednesday that the central bank was still on track to hike rates this month, citing “continued improvement in the labor market” and “confidence that inflation will move back to our 2% objective over the medium term.”
  • Copper prices fell to two-week lows on Thursday, as ongoing strength in the U.S. dollar weighed on the red metal. Dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains.The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.25% to 100.30, re-approaching the prior session’s eight-month peak of 100.54.

ECONOMY NEWS :

  • Asian Development Bank President Takehiko Nakao said on Thursday he did not expect U.S. interest rate rises to trigger a financial crisis in Asia, but the bank remains ready to lend support to vulnerable countries.The U.S. Federal Reserve is widely expected to raise interest rates for the first time in almost a decade at its next meeting Dec.15-16, raising some concern about capital flows out of Asia and emerging economies.
  • Japan services sector continued to expand in November, but at a slower rate, with a PMI score of 51.6, the latest survey from Nikkei revealed on Thursday. That’s down from 52.2 in October, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction. Among the individual components, new orders expanded at a slower rate, while employment fell for a second straight month – although business sentiment strengthened. The composite PMI was steady at 52.3.
  • China’s services Purchasing Managers’ Index fell to 51.2 in November from October’s three-month high of 52.0, survey data published by Markit showed Thursday. The Caixin composite output index rose to 50.5 in November from 49.9 in October. The score exceeded the neutral 50 mark for the first time in four months. Meanwhile, manufacturing production stabilized in November, following a six-month sequence of reduction.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1055 TARGET 1060 1066 SL 1049
  • SELL GOLD BELOW 1045 TARGET 1040 1034 SL 1051

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

3Dec

Comex Trading Signals and Market News – 03 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold prices inched higher on Wednesday, as investors awaited key U.S. data later in the day for further indications on the strength of the economy and the likelihood of a near-term interest rate hike.The U.S. was to release the ADP jobs report for November at 8:15AM ET. Market players will also pay close attention to a speech by Federal Reserve Chair Janet Yellen on the U.S. economic outlook at 12:25PM ET.
  • Copper prices traded near a one-week high on Wednesday, after Chinese metal producers pledged to cut production of the red metal to combat falling prices.Copper for March delivery on the Comex division of the New York Mercantile Exchange dipped 0.2 cents, or 0.08%, to trade at $2.072 a pound during morning hours in London. It earlier rose to $2.085, the highest since November 27.
  • Oil prices fell on Wednesday as an unexpected rise in inventories pulled down U.S. crude contracts, while Brent was weighed down by China’s bleak economic outlook and a widespread expectation that OPEC will maintain high production.U.S. crude (CLc1) was trading down 22 cents at $41.63 per barrel at 0628 GMT (0128 ET), more than 10 percent below the start of November.

ECONOMY NEWS :

  • Chinese Consumer confidence towards the car market slipped further again in November.Chinese consumers were slightly more enthusiastic about the car purchasing environment,although a rise in expected running costs dragged overall sentiment down. That said, aslight improvement in car purchase expectations, though still below the neutral 100 levelthat separates pessimists from optimists, may suggest car sales will help underpin overall-market sentiment in the near term.
  • Eurozone unemployment rate dropped marginally to 10.7 percent in October from 10.8 percent in September, Eurostat reported Tuesday. This was the lowest rate since January 2012. It was forecast to stay at 10.8 percent in October. Meanwhile, German unemployment dropped to a record low even as rising fears of joblessness due to the huge influx of migrants hurt consumer sentiment in the biggest euro area economy.
  • The US Federal Reserve should move gradually and cautiously to raise interest rates given the state of the economy, Federal Reserve Governor Lael Brainard stated yesterday. In a speech at Stanford University, Brainard noted that three factors – the poor outlook for the global economy, investor caution in the wake of the crisis and low productivity growth translate into a low-interest-rate economic environment.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1070 TARGET 1075 1086 SL 1064
  • SELL GOLD BELOW 1065 TARGET 1060 1054 SL 1071

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

2Dec

Comex Trading Signals and Market News – 02 December 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold prices rose on Tuesday, as the U.S. dollar pulled back from the prior session’s eight-month high.The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.4% to 99.87, off Monday’s eight-month peak of 100.35.Gold prices often move inversely to the U.S. dollar, as the precious metal becomes less expensive for buyers using other currencies.
  • Copper prices edged higher on Tuesday, after a pair of disappointing manufacturing reports underlined concerns over the health of China’s economy.The downbeat data reinforced the view that the economy remains in the midst of a gradual slowdown which will require Beijing to roll out more support in coming months.Copper for March delivery on the Comex division of the New York Mercantile Exchange tacked on 1.2 cents, or 0.6%, to trade at $2.060 a pound during morning hours in London.
  • Crude oil prices rose on Tuesday as the dollar eased slightly, but concerns about oversupply remained front of mind with OPEC expected to keep its output target unchanged at a policy meeting on Friday.U.S. crude was trading up 34 cents at $41.99 a barrel at 0226 ET, but was still down more than 10 percent since the start of November.

ECONOMY NEWS :

  • Cash conditions in the Indian banking system are balanced and the central bank will inject long-term funds if needed, said Governor Raghuram Rajan on Tuesday.Interbank liquidity tightened sharply in November with banks seeing large amount of deposit withdrawals by the public for festival spending. That has created a shortage of funds as this cash typically comes back to banks after a lag of few months.
  • Factory activity deteriorated across much of Asia in November, with China sinking to a three-year low, as policymakers braced for an expected rise in U.S. interest rates later this month that could jolt the global economy.Business surveys showed few signs of vigour across the trade-reliant region apart from Japan, with sluggish demand at home and abroad forcing manufacturers from China to Indonesia to throttle back production, cut selling prices and shed more jobs.
  • Stable manufacturing and auto sales data are expected Tuesday after Monday’s weak Chicago-area manufacturing data, one of the few disappointing reports released in the lead-up to the impending interest rate hike by the U.S. Federal Reserve. The Institute of Supply Management (ISM) issues its purchasing managers index at 10 a.m. EST, 15 minutes after Markit Economics releases its own PMI. On Monday, a report showed Chicago-area manufacturing contracted in November.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1070 TARGET 1075 1086 SL 1064
  • SELL GOLD BELOW 1065 TARGET 1060 1054 SL 1071

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

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