Comex Market

29Sep

Comex Trading Signals and Market News – 29 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices fell on Monday, paring some of last week’s 2 percent rally, despite evidence of slowing U.S. production and a fourth  weekly increase in U.S. investor holdings of crude futures .High oversupply and concern about demand growth in key areas of consumption such as emerging markets have stripped 50 percent off the value of a barrel of oil over the last year and kept the price below $50 a barrel for most of the past nine weeks.
  • Gold prices dropped in European morning hours on Monday, as expectations for a U.S. rate hike in the near future continued to weigh on the precious metal and as investors eyed speeches by several Federal Reserve officials scheduled later in the day. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery lost 0.72% to $1,137.30.
  • Crude oil prices dipped in Asia on Monday as investors took advantage of U.S. gains last week .On the New York Mercantile Exchange, crude oil for delivery in November fell 0.98% to $45.25 a barrel. Crude oil prices have been under heavy selling pressure in recent months, as ongoing worries over the health of the global economy fueled concerns that a global supply glut may stick around for longer than anticipated.

ECONOMY NEWS :

  • The Reserve Bank of India is expected cut its key repo rate to a four-year low on Tuesday to help support the domestic economy at a time when consumer inflation is at a record low, but may express caution about easing further as price risks still loom. A Reuters poll last week showed 45 of 51 economists expect the RBI to cut the repo rate INREPO=ECI by 25 basis points to 7.00 percent, its lowest since May 2011. The RBI has already eased the policy rate by 75 bps so far this year.
  • The European Central Bank has found that a number of banks under its watch do not comply with international governance best practices, such as separating the audit and risk functions, an ECB executive board member said on Monday. “Our initial findings indicate that a number of banks, while meeting national requirements, do not comply with international best practices with regard to governance,” Sabine Lautenschlaeger, who represents the ECB’s supervisory arm on the bank’s board, said in remarks for a speech to be delivered in Milan.
  • A flurry of planned appearances this week by Federal Reserve officials began on Monday, but conflicting views by policymakers raised more questions about the U.S. central bank’s ability to manage its message at a critical juncture. William Dudley, head of the New York Fed, and John Williams, head of the San Francisco Fed, both signaled the likelihood of an interest rate hike this year, as they cited expectations of the inflation rate moving up toward the Fed’s 2 percent target.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1134 TARGET 1139 1145 SL 1128
  • SELL GOLD BELOW 1128 TARGET 1123 1117 SL 1134

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

28Sep

Comex Trading Signals and Market News – 28 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Natural gas futures fell to session lows on Thursday after data showed that U.S. natural gas supplies rose more than expected last week.On the New York Mercantile Exchange, natural gas for delivery in October was last down 1.24% to $11.990 per million British thermal units. Prices were at around $2.556 prior to the release of the supply data.
  • Gold prices fell in Asia on Friday after Fed Chair Janet Yellen said that an interest rate hike this year is still very much on the cards.Yellen said she anticipates that it will be appropriate to raise short-term interest rates by the end of the year. Overnight, gold futures surged more than $20 an ounce as weak economic data weighed on the dollar, ahead of Janet Yellen’s first public appearance on Thursday night since the Federal Reserve held short-term interest rates at its current near-zero level last week.
  • Oil prices were steady at about $48 per barrel on Friday, pressured by a rise in the dollar, weak consumer data from Japan and after analysts from Standard & Poor’s ratings cut their oil price assumptions. Globally traded Brent futures were at $48.19 per barrel at 1124 GMT, up just 2 cents from their last close and erasing earlier Friday gains. U.S. West Texas Intermediate (WTI) futures were up 23 cents at $45.14 a barrel.

ECONOMY NEWS :

  • The U.S. central bank remains on track to begin raising interest rates later this year as long as inflation remains stable and the economy is strong enough to boost employment, said Federal Reserve Chairwoman Janet Yellen, Reuters reported Thursday. Yellen’s statements came just one week after Fed policymakers delayed a rate hike and voted to keep interest rates near zero.
  • Euro zone inflation and U.S. jobs data will offer clues to the health of major developed economies in the coming week while the malaise gripping emerging markets is expected to prompt India to cut interest rates. China may release monthly foreign exchange reserve data indicating how much more the central bank has spent on steadying the yuan following Aug.
  • The shock resignation of U.S. House Speaker John Boehner on Friday reduces the chances of a government shutdown next week, potentially removing one source of investor anxiety as Wall Street gears up for a week heavy with economic data and commentary by Federal Reserve policymakers. “This significantly reduces the probability of a government shutdown next week,” Goldman Sachs (NYSE:GS) economists said in a note to clients on Friday.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1148 TARGET 1153 1159 SL 1142
  • SELL GOLD BELOW 1140 TARGET 1135 1129 SL 1146

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

25Sep

Comex Trading Signals and Market News – 25 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Copper futures fell to a three-week low on Thursday, as concerns over the health of China’s economy dampened appetite for the red metal.Copper for December delivery on the Comex division of the New York Mercantile Exchange inched hit an intraday low of $2.294 a pound, a level not seen since September 2, before trading at $2.302 during morning hours in London, up 0.6 cents, or 0.28%.
  • Gold futures edged higher early Thursday, as investors looked ahead to a speech by Federal Reserve Chair Janet Yellen scheduled later in the day for additional clarity on the bank’s decision last week to leave interest rates on hold. Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $3.70, or 0.33%, to trade at $1,135.20 a troy ounce during European morning hours.
  • Crude oil prices gained in Asia on Thursday as investors took advantage of an overnight dip.On the New York Mercantile Exchange, WTI crude for November delivery traded up 0.67% to $44.77 a barrel.Overnight, U.S. crude futures reversed territory on Wednesday afternoon, falling by nearly 4%, as a considerable build in gasoline inventories offset a second consecutive weekly draw in crude stockpiles.

ECONOMY NEWS :

  • In addressing the public for the first time since the Federal Open Market Committee held its benchmark Federal Funds Rate at its current near-zero level last week, Janet Yellen said she anticipates that it will be appropriate to raise short-term interest rates by the end of the year.
  • Lockheed Martin (NYSE:LMT) said on Thursday that U.S. officials have approved its $9 billion takeover of Black Hawk helicopter maker Sikorsky Aircraft from United Technologies (NYSE:UTX).In a filing with the U.S. Securities and Exchange Commission, the company said authorities in Japan and South Korea had also approved the deal, but it was waiting for other regulatory approvals.The number of people who filed for unemployment assistance in the U.S. ticked higher last week, but remainied in territory consistent with a strengthening labor market.
  • Initial claims for state unemployment benefits rose by 3,000 to a seasonally adjusted 267,000 for the week ended September 19, the Labor Department said on Thursday. Analysts had expected jobless claims to rise by 7,000.t was the 29th straight week that claims remained below the 300,000 threshold, which is usually associated with a strengthening labor market .

TRADING STRATEGY :

  • BUY GOLD ABOVE 1147 TARGET 1152 1158 SL 1141
  • SELL GOLD BELOW 1140 TARGET 1135 1129 SL 1146

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

24Sep

Comex Trading Signals and Market News – 24 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices reversed early gains in Asia on Wednesday as weak China manufacturing estimates trumped U.S. industry data that showed a much larger than expected draw in U.S. stockpiles last week. On the New York Mercantile Exchange, WTI crude for November delivery traded down 0.33% to $46.20 a barrel.
  • Gold prices edged higher in European morning hours on Wednesday, as the stronger U.S. dollar continued to weigh on the precious metal, but disappointing Chinese manufacturing data increased safe-haven demand.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.14% at $1,126.30.
  • Brent crude oil rose toward $50 a barrel on Wednesday as a draw down in U.S. crude oil stocks outweighed the negative impact of weak economic manufacturing data from China. Oil prices have been depressed for more than a year and are now trading at less than half their peak levels in 2014 thanks to massive oversupply by oil producers in the Middle East and North America.

ECONOMY NEWS :

  • Greek Prime Minister Alexis Tsipras appointed two respected bailout negotiators to head his economic team on Tuesday, moving to assure wary European partners that the new government will not backtrack on its cash-for-reform deal.Tsipras reappointed Euclid Tsakalotos as finance minister and made George Chouliarakis deputy finance minister.
  • The outlook for the global economy became bleaker on Wednesday as signs of a deeper downturn in China emerged, despite massive policy stimulus, coupled with weak growth at best in Europe.China’s vast factory sector shrank at its fastest rate in 6-1/2-years in September, a private survey showed, sending investors worried about sagging global growth scurrying out of risky assets.
  • Wall Street stock prices fell on Wednesday, dragged down by economic reports portraying U.S. factories growth as tepid and China in its worst manufacturing contraction since the global financial crisis. The United States has accused Volkswagen of rigging its cars to conceal their emissions when the engines were tested.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1136 TARGET 1141 1147 SL 1130
  • SELL GOLD BELOW 1130 TARGET 1125 1119 SL 1136

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

23Sep

Comex Trading Signals and Market News – 23 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold futures struggled for direction in subdued trade on Tuesday, as expectations for a Federal Reserve rate hike later this year weighed.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.40, or 0.12%, to trade at $1,134.20 a troy ounce during European morning hours.
  • Copper futures re-approached a two-week low on Tuesday, as investors looked ahead to key Chinese manufacturing data later in the week for a fresh indication on the strength of the world’s second largest economy. A day earlier, copper fell to $2.362, the lowest level since September 8, before turning higher to end up 0.2 cents, or 0.1%, at $2.388.
  • U.S. natural gas prices struggled near the lowest level in almost five months on Tuesday, as forecasts for warm weather across key consumption regions of the U.S. in the week ahead dampened demand expectations for the fuel. Natural gas for delivery in October on the New York Mercantile Exchange inched up 0.7 cents, or 0.29%, to trade at $2.580 per million British thermal units during U.S. morning hours.

ECONOMY NEWS :

  • Upper middle-class shoppers spooked by a whipsawing stock market and shoppers waiting till the last minute for the best deals could result in the weakest U.S. holiday sales season for retailers since the recession, AlixPartners said. “A lot of the ingredients that drive retail revenue…aren’t there,” he said pointing to slow U.S. economic growth, low inflation and population growth.
  • Greek Prime Minister Alexis Tsipras appointed two respected bailout negotiators to head his economic team on Tuesday, moving to assure wary European partners that the new government will not backtrack on its cash-for-reform deal.
  • Bond fund giant Pacific Investment Management Co said on Tuesday the pace of Federal Reserve interest-rate increases is likely to be even more gradual than the firm expected in March and that the U.S. central bank may find it impossible to escape the effective lower bound of policy rates.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1126 TARGET 1131 1137 SL 1120
  • SELL GOLD BELOW 1120 TARGET 1115 1109 SL 1126

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

22Sep

Comex Trading Signals and Market News – 22 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Gold futures traded near the highest level in nearly three weeks on Monday, as the Federal Reserve’s decision not to hike interest rates boosted demand for the precious metal.Gold for December delivery on the Comex division of the New York Mercantile Exchange inched up $1.10, or 0.1%, to trade at $1,138.90 a troy ounce during European morning hours.
  • Copper futures edged higher on Monday, as investors turned their attention to an index of manufacturing activity from China due later in the week for a fresh indication on the strength of the global economy.
  • Oil rose by more than 1 percent on Monday after data showed U.S. drilling slowed and a report said $1.5 trillion worth of planned production was uneconomic at current prices.Crude has halved in value over the last year as soaring global production overwhelmed slowing demand and the much lower prices have now begun to hit drilling, particularly in the United States.

ECONOMY NEWS :

  • Greece’s Alexis Tsipras said his left-wing Syriza party now has a “clear mandate” after a winning a sweeping re-election victory on Sunday, for the second time in less than nine months. The previous Syriza-led coalition government was elected in January on an anti-austerity mandate, but was forced to accept tough conditions for Greece’s third international bailout.
  • The former owner of a peanut company in Georgia was sentenced to 28 years in prison on Monday for his role in a salmonella outbreak that killed nine people and sickened hundreds, a rare instance of jail time in a food contamination case.
  • The U.S. business lobby expressed disappointment on Monday at the pace of negotiations on a bilateral investment treaty with China and said it was important that President Xi Jinping address the growing concerns of U.S. firms when he visits the United States this week.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1136 TARGET 1141 1147 SL 1130
  • SELL GOLD BELOW 1130 TARGET 1125 1119 SL 1136

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

21Sep

Comex Trading Signals and Market News – 21 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices dipped early on Friday on fresh signs the Middle East will continue to prioritise market share over prices, while the United States kept interest rates at historic lows on worries over the health of the global economy.
  • Gold jumped in Asia on Friday after a tepid start as the Federal Reserve kept its benchmark interest rate steady in the face of global economic volatility.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery rose 1.20% to $1,130.40 a troy ounce.
  • U.S. crude futures fell sharply on Friday erasing massive gains from earlier in the week, even as oil rig totals nationwide extended a streak of minor declines. Dollar-denominated commodities such as crude become more expensive for foreign purchasers when the dollar appreciates.

ECONOMY NEWS :

  • The U.S. Federal Reserve kept interest rates unchanged on Thursday in a bow to worries about the global economy, financial market volatility and sluggish inflation at home, but left open the possibility of a modest policy tightening later this year.
  • Wall Street stocks closed lower on Friday in heavy trading as the Federal Reserve’s decision to keep interest rates near zero fueled concerns about the potential impact of continuing weak global growth on U.S. corporate earnings.
  • The U.S. Federal Reserve’s decision not to raise interest rates on Thursday is giving investors a green light to buy bonds on the view that the central bank won’t move for some time.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1139 TARGET 1144 1150 SL 1133
  • SELL GOLD ABOVE 1136 TARGET 1131 1125 SL 1142

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

18Sep

Comex Trading Signals and Market News – 18 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices fell on Thursday after weak Japanese data sounded alarm bells over the prospects for global growth, outweighing the bullish impact of a bigger-than-expected decline in U.S.crude oil stocks.
  • Gold prices were trading close to their highest level in a week on Thursday as weak U.S. inflation data weighed on the dollar and raised hopes that the Federal Reserve would hold off hiking interest rates.
  • Crude oil gained on Thursday with investors looking ahead to the Federal Reserve’s view on interest rates and noting lower stocks in the U.S. On the New York Mercantile Exchange, WTI crude for October delivery rose 0.19% to $47.24 a barrel.

ECONOMY NEWS :

  • WASHINGTON (Reuters) – U.S. President Barack Obama urged Congress on Wednesday to avoid shutting down the government starting on Oct. 1, as Republicans in the House of Representatives struggled to get enough votes to pass a bill to fund it.
  • Greece’s leftist Syriza party has a 0.6 percentage point lead over the conservative New Democracy party, a Kapa Research poll for To Vima newspaper showed on Thursday.
  • European unease that Greece may falter on its bailout promises after elections on Sunday looks misplaced, at least initially, as its pressing need for money means that whoever wins is likely to toe the line.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1130 TARGET 1135 1141 SL 1124
  • SELL GOLD ABOVE 1126 TARGET 1121 1115 SL 1131

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

17Sep

Comex Trading Signals and Market News – 17 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil prices extended gains in early trading in Asia on Wednesday after U.S. prices were boosted by a stockpile draw, while a warning by OPEC producer Iraq that it may slow spending on new fields pushed up international crude contracts.
  • Gold struggled to break out of a tight range near its one-month low on Wednesday, as investors waited to hear on the outlook of U.S. interest rates from a Federal Reserve policy meet that kicks off later in the session.
  • Crude supplies fell 3.1 million barrels in the U.S. last week, according to the American Petroleum Institute late Tuesday, signalling that refineries are ramping up for winterheating oil demand. Data for refined products was not immediately available.

ECONOMY NEWS :

  • Organisation for Economic Co-operation and Development (OECD) updates key macroeconomic forecasts for major economies – 0900 GMT. SINGAPORE – Asian Development Bank President Take  hiko Nakao speaks on Asian economic outlook and role of ADB – 0130 GMT. Nakao will also be attending the inaugural international conference on Evolving Finance, Trade and Investment in Asia .
  • Emerging market currencies have tumbled, equities have fallen and bond yields have risen steadily since the middle of the year, when Fed officials flagged the possibility that they could lift their near zero rates in the second half for the first time in nine years.
  • World share markets rose on Wednesday and short-term U.S. bond yields held near 4 1/2-year highs as investors braced for the possibility of the first interest rate hike in the United States in almost a decade.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1125 TARGET 1130 1136 SL 1119
  • SELL GOLD BELOW 1118 TARGET 1113 1107 SL 1124

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

16Sep

Comex Trading Signals and Market News – 16 September 2015

INTERNATIONAL COMMODITY NEWS :

  • Oil edged further above $46 a barrel on Tuesday, supported by the prospect of lower U.S. inventories and production although concern about weaker Asian demand kept prices in check.While analysts expect reports this week to show no change in U.S.
  • Gold prices held steady in European morning hours on Tuesday, as markets were jittery ahead of the Federal Reserve’s policy statement this week amid growing uncertainty over a potential rate hike
  • Crude oil gained in early Asia on Tuesday with investors focused on U.S. stockpile estimates from the American Petroleum Institute later in the day.

ECONOMY NEWS :

  • On the New York Mercantile Exchange, WTI crude for October delivery rose 0.17% to $44.16 a barrel.A rise in market expectations for U.S. interest rates as the Federal Reserve starts to normalize policy could cut capital inflows to emerging markets by as much as 45 percent, World Bank economists said in a paper published on Tuesday.
  • Savun Sim looked dejected as a large plastic vacuum hose sucked 2,600 pounds of wild Gulf of Mexico shrimp from his trawler’s ice hold.
  • For the nation’s largest banks, it’s a $10 billion question: Will the U.S. Federal Reserve bump up interest rates in its upcoming meeting, or keep them scraping zero? If the Fed’s decision-makers opt to raise rates in the near term, it will be lucrative for banks’ central business of taking deposits and making loans.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1106 TARGET 1111 1117 SL 1101
  • SELL GOLD BELOW 1102 TARGET 1097 1091 SL 1108

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

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