6Jun

StanChart wants to make new center points in Singapore, HK for Asia tasks

Standard Chartered Plc wants to make two new center points for its Asian tasks in Singapore and Hong Kong to disentangle the developing business sector loan specialist’s broad system and decrease costs, individuals comfortable with the arrangement said. The bank has attracted up plans to merge upwards of 10 Southeast and South Asian nations — conceivably including Indonesia and India — under another Singapore auxiliary when one year from now, said the general population, who requested that not be recognized as the points of interest aren’t finished. Its proposed to enable the bank to deal with its advantages and capital all the more effectively and could conceivably decrease the measure of the crisis cradles controllers require the firm to keep up, one individual said. Standard Chartered is likewise combining a portion of its non-China North Asian nations, for example, South Korea into a different Hong Kong backup, said the general population.

standard chartered bank

The designs aren’t last and could change, the general population said. “The gathering is firmly promoted and is exceptionally fluid, and as you would expect, we consistently take a gander at methods for streamlining the gathering’s capital and liquidity structures,” Standard Chartered said in an announcement on Tuesday. CEO Bill Winters is as yet trying to persuade financial specialists he can reestablish income development and produce a worthy level of benefit while cutting expenses. Winters has spent quite a bit of his three-year residency tidying up the monetary record and culture of the firm after an ineffectively oversaw development by his ancestors saddled the manage an account with awful advances. The bank experiences high consistence and administration costs since it works in around 60 markets.

The rebuild could prepare for an incomplete deal or posting of the new units later on, said the general population. Be that as it may, this isn’t on the prompt skyline, the general population said. Standard Chartered will have the capacity to merge its liquidity and capital by joining a few nations in a move administrators expectation will decrease its administrative necessities, one of the general population said. Right now, the bank’s monetary record is divided and that is obliging loaning and development, the general population said.

 

The arrangement is an augmentation of the declaration in February that said it would assimilate its retail, business and speculation bank in Singapore into one unit, the individual said. Singapore’s state-claimed venture finance Temasek Holdings Pte. is among Standard Chartered’s speculators, with a stake of in excess of 15 percent, as per the bank’s yearly report. The London-based loan specialist as of now has optional postings in Hong Kong and India. Standard Chartered is overwhelmingly dependent on Asia for income, producing 66% of its income and the vast majority of its benefit a year ago. More noteworthy China and North Asia represented around 40 percent of the bank’s 2017 income and 82 percent of its benefit, while the Southeast and South Asia fragment contributed just about 27 percent of income, yet just 14 percent of benefit, to a great extent due to high misfortunes on terrible advances.

6Jun

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

Comex Gold Signal

                                                                                      Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices traded slightly lower in mid-morning trade on Tuesday as positive economic data sent the dollar to its best level of the day against major rivals. At 10:30AM ET (14:30GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 70 cents, or 0.05%, to $1,296.60 a troy ounce. Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.26% to 94.26, just off its intraday high of 94.29.
  • Oil prices were lower on Tuesday, amid news that the U.S. had asked OPEC to increase its supply output. Crude oil futures decreased 0.25% to $64.59 a barrel as of 10:50 AM ET (14:50 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., slumped 159% to $74.09. The price of oil was held back after reports that the U.S. had unofficially asked the Organization of the Petroleum Exporting Countrie and Russia to raise its oil output, with no specific figure cited.
  • The United States government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, three OPEC and industry sources said on Tuesday, although it has not requested a specific figure. Earlier on Tuesday, Bloomberg reported that the U.S. government had asked them to increase oil production by about 1 million barrels per day (bpd).

ECONOMY NEWS

  • Conservative billionaire industrialist David Koch is retiring from his roles at Koch Industries and associated companies due to poor health, according to an internal memo seen by Reuters. David Koch, 78, along with his elder brother Charles, owns the second largest private U.S. company, whose operations range from refining and chemicals to ranching and forest products.
  • President Donald Trump “generally tweets positive things about the economy (and negative things about regulations), so the market is left determining degrees of positivity,” says Evan Schnidman, an expert in sentiment analysis and decoding the language of Federal Reserve statements who’s taught at Harvard and Brown.
  • Britain has officially applied to join the World Trade Organization’s government procurement agreement, a legal step it needs to take to maintain trading relationships after it leaves the European Union on March 29, 2019. Staying in the WTO is potentially important so that British companies can still bid for government work in the United States, European Union and Japan. Britain is a member of the agreement now only by virtue of its EU membership.

Comex Gold Signal

Comex Gold Signal

5Jun
best-times-to-day-trade-the-eurusd-589e2b393df78c4758e7a996

Assumption Gives EURUSD Mixed Signal

5

 

Dealers NET-LONG UP BY 22.8%

EURUSD: Retail dealer information indicates 56.2% of merchants are net-long with the proportion of brokers long to short at 1.29 to 1. Truth be told, merchants have stayed net-since a long time ago Apr 30 when EURUSD exchanged close to 1.21686; cost has moved 3.9% lower from that point forward. The quantity of brokers net-long is 22.8% higher than yesterday and 3.4% higher from a week ago, while the quantity of dealers net-short is 0.1% higher than yesterday and 8.6% higher from a week ago.

EURUSD PRICE UNCLEAR BASED ON SENTIMENT

We ordinarily take a contrarian view to swarm conclusion, and the reality merchants are net-long proposes EURUSD costs may keep on falling. Situating is more net-long than yesterday however less net-long from a week ago. The blend of current supposition and late changes gives us a further blended EURUSD exchanging inclination.

4Jun

Singapore stocks: STI resumes Monday evening exchanging higher at 3,458.92, up 0.9% on day

SINGAPORE stocks continued exchanging higher on Monday, with the Straits Times Index rising 31.41 focuses, or 0.9 for every penny to 3,458.92 as at 1pm.

Gainers dwarfed washouts 196 to 158, after around 699.6 million offers worth S$369.2 million changed hands.

The most effectively exchanged counter by volume was Disa, which was level at S$0.01 with 50.9 million offers exchanged.

Other dynamic stocks included Venture Corp, which was up 2.4 for every penny to S$21.65; and OCBC Bank, which rose 1.4 for each penny to S$12.71

Europe: Stock markets move at open

European securities exchanges moved at the open on Monday, with London’s benchmark FTSE 100 file up 0.2 for every penny to 7,718.90 focuses.

In the eurozone, Frankfurt’s DAX 30 increased 0.9 for every penny to 12,839.44 focuses and the Paris CAC 40 won 0.6 for every penny to 5,497.74 contrasted and Friday’s end levels.

4Jun

TODAY’S COMEX GOLD SIGNAL AND DAILY Technical REPORT

Comex Gold Signal

                                                                                Comex Gold Signal

Comex Gold Signal

Comex Gold signal

INTERNATIONAL COMEX NEWS

  • Gold prices inched down on Friday, as the U.S. dollar strengthened ahead of the monthly nonfarm payrolls data and trade worries lingered. Comex gold futures for June delivery were down 0.08% to $1,299.10 a troy ounce as of 4:38 AM ET (8:38 GMT). The nonfarm payrolls data, often seen as an indicator of the health of the U.S. economy, is expected at 8:30 AM ET (12:30 GMT).
  • Oil prices were slightly higher in early morning European trade on Friday as investors continued to weigh record levels of production from the U.S. New York-traded West Texas Intermediate crude futures gained 18 cents, or about 0.3%, to $67.22 a barrel by 4:09AM ET (8:09GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., was last up 22 cents, or 0.3%, to $77.88. U.S. crude sank around 1.7% a day earlier, although Brent managed to eke out limited gains of 0.2% after the Energy Information Administration (EIA) said that U.S. crude production jumped 215,000 barrels per day (bpd) to 10.47 million bpd in March, a new monthly record.
  • After all the condemnation of U.S. tariffs on EU metal exports and calls for unity, the European Union still has two decisions to make – how hard to hit back at the United States and whether to engage in trade talks with Washington. Neither is a given. The EU can act only by consensus, and its 28 members have different interests. Germany, by far the largest European exporter to the United States, is the most fearful of a trade war.

ECONOMY NEWS

  • The Trump administration is examining ways American industries could hire more immigrant workers on a temporary basis, White House economic adviser Larry Kudlow told CNBC in an interview on Friday. “We are looking at ways to bring temporary immigrants with temporary visas legally into the United States in a number of industries,” Kudlow said, adding that he did not want to say more that would “get ahead of the curve.”
  • U.S. construction spending rebounded more than expected in April as investment in private construction projects notched its biggest gain since 2012, offsetting a drop in public outlays. The Commerce Department said on Friday construction spending surged 1.8 percent, the largest increase since January 2016, after an unrevised 1.7 percent decline in March.
  • A solid May employment report released on Friday kept a rate hike in June on the table and ticked up bets for a third in September and a fourth at the end of the year. Nonfarm payrolls (NFP) rose by 223,000 in May, beating forecasts for the creation of 183,000 jobs, while the unemployment rate surprised with a drop to a fresh 17-year low of 3.8%. Market reaction got the jump on the release thanks to a tweet from U.S. President Donald Trump about an hour ahead of publication. “Looking forward to seeing the employment numbers at 8:30 this morning,” the President said.

Comex Gold Signal

1Jun
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Epic Research : FX Strategy

US DOLLAR PULLBACK CONTINUES AS RATE EXPECTATIONS SOFTEN

As a thump on impact of the showy behavior in European legislative issues, rate desires have begun to get pushed-out around the US and the Federal Reserve. While a climb in half a month at the bank’s June meeting is still high likelihood, the possibility of an aggregate of four climbs this year out of the Fed looks a lot more faulty, with chances as of at the beginning of today down to 27%. This has assisted the US Dollar with continueing pulling back after the fizzled endeavor at 95.00 before in the week; and as we saw on shorter-term diagrams, there’s a case to be made for short-side procedures in the US Dollar. Coming into this week, we had set up AUD/USD and NZD/USD for that situation, and with those business sectors indicating fluctuating degrees of improvement, we kept on looking to an adjusted approach around the US Dollar as we approach tomorrow’s NFP report.

EUR/USD TESTING KEY RESISTANCE

The drop in EUR/USD was quick and fierce, and when we re-experienced this key help zone in transit down, this was an insignificant hindrance that moderated the move over several days. In any case, – this level had played out a lot in the last third of a year ago with various articulations, and prior at the beginning of today, costs ricocheted up to this zone to discover a touch of opposition. This zone keeps running from 1.1685-1.1736, as bound by several more extended term Fibonacci levels, and this region can substantiate short-side plays. On the off chance that costs don’t remain beneath 1.1750, another potential region of obstruction exists from 1.1821-1.1855, and this could likewise be a region to arrange short-side plays should the present zone of opposition not hold.

EUR/USD FOUR-HOUR CHART: FINDS RESISTANCE AT A FAMILIAR AREA

1-6

GBP/USD HOLDS THE LOWS, FOR NOW

A component of help at last began to appear in Cable (GBP/USD), and this is the zone that we’ve been following that keeps running from 1.3269-1.3321. The recent days have seen costs firm inside this zone, and the match has bumped back towards the 1.3300 zone. In any case, merchants have stayed dynamic, and given how oversold the combine was coming into this week, we could be seeing all the more a short-press than a genuine bullish move. This features a similar zone of potential obstruction that we were taking a gander at prior in the week around 1.3400, and this is something that would benefit from outside assistance by Non-Farm Payrolls tomorrow. On the off chance that we see a whirlwind shortcoming, this could push GBP/USD somewhat higher, and in the event that we do see bring down high opposition set-in at or around that 1.3400-zone, the entryway opens for short-side setups.

USD/CHF CONTINUES TO TURN LOWER

We had taken a gander at the short-side of USD/CHF on Tuesday as a bearish-USD play, and that move has kept on demonstrating guarantee as Franc-quality has tilted the match further beneath the equality level. This keeps the short-side of USD/CHF of enthusiasm insofar as costs stay beneath 1.0000, and longer-term targets could be coordinated towards the blended region of potential help around the .9700-handle.

USD/CAD WITH A HEAVY TWO DAYS OF VOLATILITY

Yesterday’s BoC expedited a solid Canadian Dollar, and after that the present tax talk switched that move. We took a gander at the possibility of playing inversions, concentrating on CAD quality and hoping to blur this current morning’s feature driven pop. For whatever length of time that costs stay underneath 1.3000, short-side swings remain an appealing choice.

USD/JPY BECOMES MESSY

The combine keeps on enticing the help zone that we’ve been following that keeps running from 108.62-109.19. Shorter-term value activity demonstrates a lacking reaction from bears, be that as it may, and this makes the short-side of the combine somewhat less appealing. The long side of the combine isn’t very appealing either, as bulls have been not able push the match with much observable quality over the previous week. This could, be that as it may, be utilized to base into different exchanges, addressing the potential for short-side EUR/JPY and GBP/JPY situations.

NZD/USD FOR SHORT-USD STRATEGIES

This was the second combine we were following for USD-shortcoming this week, to a great extent looking to the more drawn out term extend that remaining parts in the match. This was our favored match for USD-quality in April as we hoped to play the short-side of that range. With that bearish subject presently evaluated in, we began to take after the long side for USD shortcoming as one of our FX Setups during the current week. With the match currently exchanging back over the .7000 level, that topic stays feasible. We took a gander at a few distinctive methods for working with this move.

NZD/USD WEEKLY CHART: PRICES BOUNCE FROM RANGE SUPPORT

1-6-1

30May

Singapore Exchange to postpone beginning of new India fates after claim

Singapore Exchange Ltd. said it will postpone the beginning of its new Indian stock prospects contracts, as a court question in Mumbai heads to discretion. SGX, which is doing combating with National Stock Exchange of India Ltd. over Indian subordinates in the city-state, had been because of dispatch the SGX India Futures on June 4. The items were outlined as a trade for the prevalent Nifty 50 Index contracts, which are because of end in August after NSE drop its permitting and information manage its Singapore partner.

The question between two of Asia’s greatest bourses has been stewing for a considerable length of time and debilitates to leave global speculators without a simple method to fence their presentation to India’s $2.2 trillion securities exchange. Indian authorities are endeavoring to make inland exchanging more available, and the nation’s business sectors controller a week ago said nonnatives would be permitted to exchange without enrolling on trades in the Gujarat tax-exempt zone known as Gift City.

SGX

 

“The Monetary Authority of Singapore asks all gatherings worried to cooperate to locate a neighborly arrangement that will keep on encouraging interests in the Indian market,” the Singapore controller said in a messaged explanation. “An expedient determination to the debate will be to the greatest advantage of all gatherings concerned.” SGX said in an announcement Tuesday that it saves all rights in regard of harms caused by the claim. SGX shares fell 1.1 percent to S$7.29, the least since April 10. “Financial specialists should utilize authorized and legitimately allowable items to get to Indian markets,” NSE said in an announcement, adding that it stays focused on giving universal speculators great access to Indian markets. The two gatherings will have a gathering with the referee, who will endeavor to choose the case by June 16, as indicated by a Bombay High Court arrange on Tuesday. The gatherings can raise issues including ward and whether the debate is liable to discretion, the judge said.

The court a week ago issued a break directive against SGX. Strains between the organizations emitted in January, when NSE requested that its partner postpone plans to present single-stock fates that would track a portion of India’s biggest organizations. SGX repelled the demand, and on Feb. 9 India’s three national trades said they’d cross out their concurrences with abroad bourses. NSE sued SGX a week ago, guaranteeing the subsidiaries anticipated the June 4 begin were “unlicensed items” and “indistinguishable” to the Nifty-marked prospects. “The scope of accessible budgetary instruments for financial specialists to support exposures and oversee chances in Indian values will be lessened,” on account of the battle between the trades, MAS said. “A drawn out question will affect the openness of the Indian values market to worldwide speculators.” The debate has scuppered talks amongst SGX and NSE about making a cross-outskirt exchanging join, as per individuals acquainted with the issue. SGX said in its Tuesday articulation that it “stays open to a community long haul arrangement that will profit Indian markets.”

28May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                        Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices oscillated around the psychologically important $1,300 level shrugging off dollar strength and easing geopolitical uncertainty following Trump’s reverse ferret on the North Korea summit. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $1.60 or 0.12%, to $1,302.80 a troy ounce. Gold remained resilient in the wake of a resurgent dollar on the back of positive economic data as durable goods orders topped expectations reaffirming investor confidence in the U.S. economy.
  • As it battles to remain the world’s biggest copper producer, Codelco just achieved a new, less enviable mantle — the only major mining company with an all-male board and senior management team. On Friday, Chilean President Sebastian Pinera appointed executive Juan Benavides as chairman of the state-owned company. Earlier this month, he appointed Hernan de Solminihac and Patricio Briones as directors, replacing Dante Contreras and Laura Albornoz, then the only woman on the nine-member board. Chile is the biggest copper-mining nation.
  • The United States has called at a meeting in Geneva for a “reset” of agricultural trade negotiations, rejecting calls from other states to push on with long-drawn-out talks on reform, a trade official said. Traditional subsidisers such as the United States, Japan and the European Union have long resisted pressure to wean their farmers off handouts, while the United States has accused both China and India of paying far greater subsidies than allowed.

ECONOMY NEWS

  • As Japan gears up to host the Rugby World Cup and Olympic Games in consecutive years, many businesses are seizing on the opportunity to capitalize on the influx of tourists, media and athletes for both big events. The Rugby World Cup kicks off in September 2019 followed by the Tokyo Games 10 months later, giving businesses a unique chance to reach an international and diverse customer base that may be encountering Japanese products for the first time.
  • The Federal Reserve plans to continue tightening monetary policy gradually for now, but it faces a much tougher decision as U.S. interest rates near a “neutral” level where they neither boost nor slow the economy, several policymakers indicated on Friday. “I’m not yet there on what we should do once we get to neutral,” Dallas Fed President Robert Kaplan said at a conference where Atlanta Fed President Raphael Bostic and Chicago Fed President Charles Evans also spoke.
  • Traders could be forgiven if flashbacks of the euro zone crisis come back to haunt them as the euro slid to a six-month low and risk premiums on Spanish and Italian bonds soared amid rising political risks. European risk assets took a massive pounding on Friday ahead of a long weekend in London as investors fled from riskier bonds, stocks and credit securities to the safety of German bunds that were set for their biggest gain since 2012.

Comex Gold Signal

 

25May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                      Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices extended gains in midmorning trade on Thursday as U.S. President Donald Trump dashed hopes for a summit with North Korea leader Kim Jong Un At 10:40AM ET (14:40GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up $16.30, or around 0.6%, to $1,305.90 a troy ounce. That was close to an intraday high of $1,306.30, its highest level since May 14. Both leaders were set to meet in Singapore on June 12 to discuss the possibility of denuclearization.
  • Oil prices continued to fall on Thursday amid concern global supply and future output from the Organization of Petroleum Exporting Countries. Brent crude futures, the benchmark for oil prices outside the U.S., slumped 1.05% to $79.96 a barrel as of 10:27 AM ET (14:27 GMT). Meanwhile Crude Oil WTI Futures decreased 1.20% to $70.98 a barrel. Prices were pushed lower this week after an unexpected increase in weekly U.S. crude supplies.
  • The U.S. Energy Information Administration said in its weekly report thatnatural gas storage in the U.S. increased by 91 billion cubic feet in the week ended May 18, compared to forecasts for a build of 92 billion. Thursday’s data compared with a gain of 106 billion cubic feet (bcf) in the preceding week and represented a decline of 804 billion from a year earlier and was also 499 bcf below the five-year average.

ECONOMY NEWS

  • Italy is responsible for the economic health of the whole euro zone because it is part of it, Finnish Finance Minister Petteri Orpo said on Thursday, adding he was a bit worried by the economic plans of the new Italian government coalition. “We look very carefully at what is happening in Italy and of course I am a little bit worried by that,” Orpo told reporters on entering talks of euro zone finance ministers in Brussels.
  • Goldman Sachs (NYSE:GS) said on Thursday that any systemic spillovers from Italian political risks into peripheral Europe could push the euro down against the dollar by “around five big figures.” The prospect of a coalition government between the anti-establishment 5-Star Movement and far-right League, bent on big spending plans that would put Italy on a collision course with the European Union, have rattled markets in the past week.
  • National home values have increased 8.7 percent since last April to a median value of $215,600, according to Zillow. The pace of appreciation is the fastest since June 2006, when home values were rising nine percent annually. San Jose home values appreciated 26 percent year-over-year. Las Vegas, Seattle, Dallas-Fort Worth, San Francisco, Tampa, Atlanta, Charlotte and Orlando all saw double digit a growth.

Comex Gold Signal

Comex Gold signal

23May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices inched higher on Tuesday as increased risk appetite limited gains in the precious metal, keeping it close to the low for the year hit a day earlier. At 10:17AM ET (14:17GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up just $0.40, or around 0.03%, to $1,291.30 a troy ounce. In the previous session, it slid to as low as $1,281.20, its weakest level since December 27. News that China plans to slash auto import tariffs eased concerns over the possibility of a Sino-U.S. trade war.
  • Brent oil prices were higher on Tuesday, as investors remained concerned about global supply and future output from Iran and Venezuela. Oil prices rose on Monday after Secretary of State Mike Pompeo said in an interview that the U.S. would demand major changes in Iran following America’s withdrawal from the nuclear deal, with the possibility of even tougher sanctions.
  • A U.N. monitoring group wants to enlist the help of the world’s biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said. The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons. Under the restrictions, Pyongyang is limited to importing 4 million barrels of crude and 500,000 barrels of products a year.

ECONOMY NEWS

  • German prosecutors said on Tuesday that they had charged the first suspects in a widespread and long-running financial market tax scam that has cost taxpayers billions of euros. The 948-page indictment filed in Wiesbaden named the 67-year-old German lawyer Hanno Berger as one of the six charged, the court confirmed separately.
  • Prominent German economists opposed French President Emmanuel Macron’s euro zone reform proposals on Tuesday, dismissing them as risky and saying that the single currency bloc must not become a union in which liabilities were shared out. Macron wants to create a separate euro zone budget, appoint a finance minister and convert the bloc’s European Stability Mechanism emergency rescue fund into a European monetary fund.

Comex Gold Signal

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