Comex Market

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.

3Aug

Comex Trading Signals and Market News – 03 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Zinc futures rose during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the spot market.However the gains in the base metal were curbed by weak global factory growth which threatened to cut demand as manufacturing in the US China and Euro area slowed in July.
  • Oil edged higher on Tuesday after falling by up to 10 percent in just one week, but investors remained concerned about oversupply weighing on prices.Global benchmark Brent crude was trading up 49 cents at $42.63 a barrel at 1031 GMT (0631 EDT). U.S. West Texas Intermediate (WTI) crude was up 38 cents at $40.44 a barrel, after briefly dipping below$40.
  • Gold prices held steady at a three-week high in European trade on Tuesday, as investors awaited fresh signals about the timing of a possible U.S. interest rate increase this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped 40 cents, or 0.03% to trade at $1,359.20 a troy ounce by 06:56GMT, or 2:56AMET, just below a three-week peak of $1,362.00 scaled last Friday.

ECONOMY NEWS :

  • China will find an appropriate time to cut interest rates and the reserve ratio requirement, the country’s state planner said in a statement posted on its website on Wednesday, without giving further details.It also said it will lower costs for firms and actively encourage private enterprises to raise capital by issuing bonds.The state planner said it would encourage cities with an oversupply of housing to further shed inventory and continue to push forward supply-side reform.
  • At least two members of the Bank of Japan’s board questioned its actions at their June meeting, minutes show, highlighting doubts about the sustainability of its policies.At the June meeting one board member called for the BOJ to reduce its bond buying while another said the BOJ had switched its focus to interest rates away from buying assets. At a subsequent meeting on July 29 the BOJ surprised investors by saying it would release a comprehensive review of its quantitative easing in September, further reinforcing the view that the BOJ’s current policy may be reaching its limit.
  • Federal health officials, scrambling to fund efforts to combat the spread of the Zika virus in the United States, said on Tuesday they have provided more stopgap money to various locales while calls grew for Congress to cut short its recess and act. Concern is mounting about the threat posed by the mosquito-borne virus after authorities in Florida last weekreported the first signs of local transmission of Zika in the continental United States.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1360 TARGET 1365 1371 SL BELOW 1355
  • SELL GOLD BELOW 1355 TARGET 1350 1344 SL ABOVE 1360

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

2Aug

Comex Trading Signals and Market News – 02 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices fell back towards April lows in North American trade on Monday, reapproaching bear market territory as signs of increasing production in the U.S. and rising output among members of the Organization of the Petroleum Exporting Countries weighed.Crude oil for September delivery on the New York Mercantile Exchange fell to a session low of $40.88 a barrel.
  • Gold prices edged lower in European trade on Monday, as investors looked to buy into rising equity markets rather than purchasing safe-haven assets, but prices held near three-week highs amid waning expectations that the Federal Reserve will raise interest rates anytime soon.
  • Silver futures were trading higher during the afternoon trade in the domestic market on Monday as traders widened their bets tracking a firm trend at global markets. Silver rallied as speculative position created by participants driven by firm global trend as the dollar weakened and the US economy grew less-than-expected in the second quarter boosting demand for the precious metals as a store of value supported the prices of white metal at the futures trade.

ECONOMY NEWS :

  • Prime Minister Theresa May will on Tuesday outline her bid to reshape the British economy for a post-Brexit world, reviving the once unfashionable concept of industrial policy 30 years after Margaret Thatcher killed it off. May will chair the first meeting of the “Cabinet Committee on Economy and Industrial Strategy” in her Downing Street Offices, bringing together the heads of 11 other ministries to set out her vision for a state-boosted industrial renaissance.
  • Banks tightened lending standards for commercial and industrial loans in the second quarter, according to a survey of loan officers released on Monday by the Federal Reserve.At the same time, lending standards to households were little changed overall compared to the previous quarter.Most banks said their reasons for more stringent standards in lending to businesses were “a less favorable or more uncertain economic outlook, worsening of industry-specific problems, and reduced tolerance for risk,” the survey said.
  • Japanese Prime Minister Shinzo Abe’s cabinet is set to approve on Tuesday 13.5 trillion yen ($132.04 billion) in fiscal steps as part of efforts to revive the flagging economy with cash payouts to low-income earners and infrastructure spending. The package is expected to include 7.5 trillion yen in spending by the national and local governments, and earmarks 6 trillion yen from the Fiscal Investment and Loan Programme, which is not included in the government’s general budget.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1350.2 TARGET 1355.2 1361.2 SL BELOW 1345.2
  • SELL GOLD BELOW 1346.5 TARGET 1341.5 1335.5 SL ABOVE 1351.5

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

1Aug

Comex Trading Signals and Market News – 01 August 2016

INTERNATIONAL COMMODITY NEWS :

  • Natural Gas futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking weakness overseas where prices fell on profit taking after a stellar rally in the previous session.The fuel had rallied 8 per cent in the international market on Thursday after a smaller than expected build in US storage levels signaled a pickup in demand for the fuel in the world’s biggest gas consuming nation.
  • Gold prices held steady at three-week highs on Friday, as the Bank of Japan’s stimulus measures disappointed market expectations and as the Federal Reserve’s decision to leave its monetary policy unchanged continued to support. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were little changed at $1,341.75.The August contract ended Thursday’s session 0.50% higher at $1,341.20 an ounce.
  • U.S. oil futures fell to fresh three-month lows on Friday, as concerns over a global glut of oil and refined products continued to dominate sentiment.U.S. crude futures for September delivery dropped 0.80% to a three-month low of $40.83 a barrel. On the ICE Futures Exchange in London, the October Brent contract tumbled 0.99% to $42.80 a barrel, the lowest since April.

ECONOMY NEWS :

  • The euro zone’s biggest banks would fare better in case of stress than two years ago as they have amassed capital and made headway in fixing their balance sheets, the European Central Bank said on Friday after a stress test of the bloc’s 37 biggest banks.The banks entered the test with an average Common Equity Tier 1 capital ratio of 13 percent, above the 11.2 percent two years ago, and would still hold a 9.1 percent capital ratio in case of an adverse scenario, above the 8.6 percent seen in 2014, the ECB said.
  • Dallas Federal Reserve Bank President Robert Kaplan said on Friday that the U.S. economy is making slow progress toward meeting the central bank’s objectives.”I’d say we are making slow but … sluggish progress to meeting our objectives,” Kaplan told a community bankers association in New Mexico.The Fed has a dual mandate of full employment and an inflation target of 2 percent.
  • Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros capital increase, the lender said in a statement on Friday. The country’s third-largest lender said it had signed a pre-underwriting agreement with a consortium of Italian and international banks for the capital raising, and that a state-backed banking bailout fund, Atlante, had agreed to underwrite the sale of a portion of the bank’s riskier bad debts.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1355 TARGET 1360 1366 SL BELOW 1350
  • SELL GOLD BELOW 1351 TARGET 1346 1340 SL ABOVE 1356

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

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