22Feb

IForex Market Trading Signals and News – 22 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar edges lower vs. yen, euro in cautious trade
  • Forex – Dollar holds steady vs. rivals, U.S. data on tap
  • Forex – USD/CAD moves higher after U.S., Canadian data

EUR/USD
The euro held steady near two-week lows against the U.S. dollar on Friday, as positive U.S. inflation data lent broad support to the greenback, while growing expectations for further easing by the European Central Bank dampened demand for the single currency. EUR/USD hit 1.1067 during U.S. morning trade, the pair’s lowest since February 3; the pair subsequently consolidated at 1.1104.The pair was likely to find support at 1.0987, the low of October 6 and resistance at 1.1153, Thursday’s high. Data showed that the U.S. consumer price index was flat in January, compared to expectations for a 0.1% downtick and after a 0.1% fall the previous month. Year-on-year, consumer prices increased by 1.4% last month. Core CPI, which excludes food and energy, rose 0.3% in January, more than the expected 0.2% gain and after an increase of 0.2% in December.Meanwhile, sentiment on the single currency remained vulnerable after the minutes of the European Central Bank’s January meeting, released on Thursday, signaled that the bank is prepared to inject further monetary easing next month if necessary to bolster growth.

GBP/USD
The pound slipped lower against the U.S. dollar on Friday, after the release of mixed economic reports from the U.K. and as investors continued to focus on discussions over Britain’s European Union membership. GBP/USD hit 1.4297 during European morning trade, the session low; the pair subsequently consolidated at 1.4304, shedding 0.23%.Cable was likely to find support at 1.4233, Wednesday’s low and resistance at 1.4517, Tuesday’s high.The U.K. Office for National Statistics said that retail sales rose 2.3% in January, beating expectations for a 0.8% gain. Retail sales declined by 1.4% in December, whose figure was revised from a previously estimated 1.0% fall.Year-on-year, retail sales climbed 5.2% last month, exceeding expectations for a 3.6% riseCore retail sales, which exclude automobiles and fuel, increased by 2.3% in January, compared to expectations for an uptick of 0.7%. Core retail sales slipped 1.3% in December, whose figure was revised from a previously estimated 0.9% decline.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4340 TARGET 1.4360 1.4390 SL 1.4310
  • SELL GBP/USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PTE LTD.

22Feb
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 22 February 2016

MARKET UPDATES :

  • The Straits Times Index (STI) ended 0.7 points or 0.03% lower to 2656.87, taking the year-to-date performance to -7.83%.
  • The top active stocks today were DBS, which declined 1.51%, CapitaLand, which declined 1.38%, SingTel, which declined 0.80%, CapitaMall Trust, which gained 0.95% and OCBC Bank, with a 0.76% advance.
  • The FTSE ST Mid Cap Index gained 0.05%, while the FTSE ST Small Cap Index rose 0.35%.
  • The outperforming sectors today were represented by the FTSE ST Utilities Index, which rose 2.90%. The two biggest stocks of the Index – Keppel Infrastructure Trust and SIIC Environment Holdings – ended unchanged and 8.20% higher respectively.
  • The underperforming sector was the FTSE ST Telecommunications Index, which slipped 0.76%. SingTel shares de-
    clined 0.80% and StarHub declined 0.86%.
  • The three most active Exchange Traded Funds (ETFs) by value today were : SPDR Gold Shares (+1.27%), Ishares USD Asia Hy Bond ETF (+0.30%), IS MSCI India 100 (-0.17%)
  • The three most active Real Estate Investment Trusts (REITs) by value were : Capitamall Trust (+0.95%), Ascendas REIT (-1.65%), Suntec REIT (+0.91%)
  • The most active index warrants by value today were : HSI18400MBePW160330 (-2.80%), HSI19800MBeCW160330 (+4.85%), HSI19600MBePW160226 (-13.33%)
  • The most active stock warrants by value today were : DBS MB eCW161004 (-7.45%), NKY 15500MBePW160311 (unchanged), KepCorp MBeCW161212 (+1.06%)

STOCK RECOMMENDATION :

  • BUY GLOBAL LOGISTIC ABOVE 1.720 TARGET 1.820 2.000 SL 1.610

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

22Feb
sgx-asx

SGX : Singapore shares open higher on Monday

Market Update :

  • Singapore shares open higher on Monday with the buying interest shifting into several penny stocks that were on active trade.
  • At 9.22am, the Straits Times Index rose 6.07 points or 0.23 per cent to 2,662.94.
  • Some 214 million shares worth S$171.3 million changed hands. Gainers outpaced losers 116 to 56.
  • Among active stocks were QT Vascular, which was up 5.2 per cent at 12.1 cents, Spackman Entertainment Group up 5.4 per cent at 11.7 cents and China Sports International up 6.3 per cent at 1.7 cents.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

20Feb
sgx2

S&P warns it may cut Icahn Enterprises to junk status, stock falls

BOSTON:
  • U.S. ratings agency Standard & Poor’s warned on Friday it may cut the credit rating of billionaire investor Carl Icahn’s Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months.
  • S&P placed its triple-B-minus issuer credit rating and senior unsecured debt rating of Icahn Enterprises on “CreditWatch with negative implications,” the agency said in a statement.
  • The news weighed on Icahn Enterprises’ stock price, pushing it down nearly 11 percent in afternoon trading to $48.75. In the last 12 months the stock price has been cut in half mainly because its energy investments have been hit by falling commodity prices.
  • Icahn Enterprises has lost “at least $1.4 billion in value” since the end of September, S&P wrote in the statement, adding it thought Icahn’s hedge fund had lost money this year because of bets on energy companies including Chesapeake Energy Corp. and Cheniere Energy Inc., along with miner Freeport-McMoRan Inc., which have fallen. Chesapeake is down 56 percent this year.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

20Feb
SGX

UIC sees 35% fall in full-year earnings to $261 million

SINGAPORE :

  • Property group United Industrial Corp (UIC) registered a 35% fall in FY15 earnings to $260.6 million from a year ago on lower share of results of associated companies and joint ventures.
  • Share of results of associated companies decreased by 25% to $31.6 million due mainly to lower fair value gain on Novena Square investment property held by an associated company of $4.6 million.
  • Share of results of joint ventures decreased by 22% attributable mainly to lower progressive revenue recognised for the Archipelago residential project which was completed in September 2015.
  • Full-year revenue rose by 16% to $807.2 million due mainly to higher revenue recognised on the sales of trading properties.
  • UIC closed 0.68% higher at $2.96 on Friday.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

20Feb
sgx-asx

SGX : PACC Offshore sinks into full-year net losses of US$131 million

Market Updates :

  • SINGAPORE (Feb 19): PACC Offshore Services Holdings, the offshore support vessel operator, reported net losses of US$131 million ($184 million) for FY2015, compared with the earnings of US$53.2 million recorded in FY2014 on higher expenses and goodwill impairment.
  • Group revenue rose 20% to US$280.8 million, with the increased contribution from the offshore accommodation business segment which more than doubled to US$93.2 million.
  • The OSV segment reported a 2% decline to US$136.2 million and the transportation and installation segment recorded a 34% decline to US$27.3 million.
  • The group also recorded other expenses of US$135.6 million during the full year period, which comprised an impairment of goodwill of US$127 million and fixed assets of US$21.4 million. In comparison, the group reported other income of US$58 million in FY2014, largely from the gain on disposal of vessels.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

19Feb
PalmOil

Singapore : Oil prices fall on oversupply concerns after US crude stocks hit record

SINGAPORE:

  • Oil futures fell in Asian trade on Friday as a record build in U.S. crude stocks stoked concerns about global oversupply, outweighing moves by oil producers including Saudi Arabia and Russia to cap oil output.
  • U.S. crude inventories rose by 2.1 million barrels last week, to a peak of 504.1 million barrels, the third week of record highs in the past month, data from the U.S. government’s Energy Information Administration (EIA) showed on Thursday.
  • That came as Iraq’s oil minister Adel Abdul Mahdi said on Thursday that talks would continue between OPEC and non-OPEC members to find ways to restore “normal” oil prices following a meeting on Wednesday.
  • “The market is expecting continuing inventory builds,” said Tony Nunan, oil risk manager at Japan’s Mitsubishi Corp in Tokyo.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

 

19Feb
SGX

Kuala Lumpur : Genting Singapore’s results within expectations

KUALA LUMPUR :

  • Maybank Kim Eng said Genting Singapore Plc’s fourth quarter to Dec 31, 2015 financial results was within its expectations and maintains a “hold” call and target price of 78 Singapore cents.
  • “Fourth quarter 2015 results were within our expectations. While the final dividend per share of 1.5 cents was 50% higher than our estimate, the dividend yield remains lukewarm at 2.1%. Fourth quarter VIP volumes continue to ease, but to be fair, we note that the fourth quarter provision for doubtful debts was an intra-year low.
  • “More importantly, the high margin mass market remains resilient. Genting Singapore also disposed substantially all of its portfolio investments that generated exceptional losses in the past,” Maybank Kim Eng said.
  • For the fourth quarter ended Dec 31, Genting Singapore posted S$21.96mil in net profit, 82% down from S$118.81mil in the previous corresponding period. Revenue for the quarter fell 14% to S$547.4mil from S$637.87mil previously.
  • Genting Singapore,  which is 53%-owned by Genting Bhd, said its net profit fell 70% to S$193.06mil for the financial year ended Dec 31, 2015 (FY15) from S$635.21mil a year ago. Revenue for the year fell 16% to S$2.4bil from S$2.86bil in FY14.
  • Maybank Kim Eng said Genting Singapore reported a fourth quarter net loss of S$7.8mil due to S$70.2mil in exceptional losses. That said, fourth quarter FY15 core net profit of S$62.5mil brought 2015 core net profit to S$267.6mil, which was within expectations at 92% of Maybank’s full year estimate.

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

19Feb

Comex Trading Signals and Market News – 19 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil rose towards $35 a barrel on Thursday after Iran welcomed plans by Russia and Saudi Arabia to freeze output and an industry report showed a surprise drop in U.S. inventories.The gain added to a more than 7 percent surge in the previous session, which came even though analysts said the market had overreacted to Iran’s support for the caps and the Russian-Saudi move would not likely reduce the global surplus.
  • Gold futures edged lower in Europe trade on Thursday, but held above the $1,200-level amid indications the Federal Reserve could slow the pace of U.S. interest rate hikes.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $4.10, or 0.34%, to trade at $1,207.30 by 08:55GMT, or 3:55AM ET.
  • Natural Gas futures surged by over 2 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity tracking a firm trend in the overseas market as short-term weather forecasts suggested cooler weather across parts of the US bolstering the demand outlook for the heating fuel in the world’s biggest gas consuming nation.About 49 per cent of US households use natural gas for heating purposes.

ECONOMY NEWS :

  • Bank of England Deputy Governor Jon Cunliffe said on Thursday he had seen nothing to justify market moves in the last month that have pushed back expectations for the BoE’s first interest rate hike towards the end of the decade. Cunliffe said market pricing of the BoE’s first rate hike had been pushed out by two years compared with only a month ago, into the second quarter of 2019.
  • International lenders are concerned with the quality of reforms in Greece, in exchange for which Athens is getting loans, the chairman of euro zone finance ministers Jeroen Dijsselbloem told the European Parliament’s economic committee on Thursday.Dijsselbloem said that while politically difficult for the Greeks, the government still needed to implement a reform of the pension system and tackle a number of fiscal issues as agreed under a first batch of reforms.
  • India is preparing to pump in a higher-than-anticipated capital sum into poorly performing state banks, government sources said, a move that could see New Delhi infuse as much as $34 billion additionally and make it harder to hit planned deficit targets.Prime Minister Narendra Modi’s government in August pledged to put in 700 billion
    rupees ($10.2 billion) into state-run banks through four years to March 2019 as part of a broader banking reforms
    programme It had then said the lenders would raise another 1.1 trillion rupees from the financial markets.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1210 TARGET 1215 1221 SL 1204
  • SELL GOLD BELOW 1200 TAGRET 1195 1189 SL 1230

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

19Feb

IForex Market Trading Signals and News – 19 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar slips lower against yen, euro steady
  • Forex – Aussie drops on weak jobs data, kiwi edges higher
  • Forex – Loonie leads commodity currencies higher, dollar subdued

EUR/USD
The EUR/USD pair found fresh bids near 1.1125 region and now crawls higher towards daily highs, mainly backed by broad based US dollar weakness. EUR/USD trades 0.13% higher at 1.1141, heading for a retest of daily highs reached at 1.1150 in late-Asia. The main currency pair was caught by a fresh bid wave after the US dollar fell further into the red against its major peers as the European traders continue to assess the dovish Fed minutes heading into the ECB Jan meeting accounts release.Further, the bulls continue its fight to take-out 1.1150 barrier, as the renewed optimism in the European indices weigh on the safe-haven currency EUR. Germany’s DAX erased losses and now rises 0.40%, while the pan- European benchmark, the Euro Stoxx also regains momentum and advances 0.60%.

GBP/USD
The British pound is now picking up pace vs. the greenback, sending GBP/USD to session highs beyond the 1.4300 barrier.Spot has managed to retake levels above 1.4300 the figure after BoE’s Jon Cunliffe has argued he sees no reason to change his outlook on a rate hike by the central bank.The comments have brought in some relief to the sterling, which was trading in lows near 1.4260 area vs. the US dollar.Ahead in the day, US Initial Claims and the Philly Fed Survey will take centre stage later in the NA session, while Retail Sales are next on tap in the UK economy tomorrow.As of writing the pair is up 0.14% at 1.4309 facing the next hurdle at 1.4399 (20-day sma) followed by 1.4522 (38.2% Fibo of 1.5240- 1.4079) and finally 1.4621 (55-day sma). On the other hand, a breach of 1.4200 (psychological level) would aim for 1.4171 (low Jan.26) and then 1.4147 (low Jan.29).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4330 TARGET 1.4350 1.4380 SL 1.4300
  • SELL GBP/USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH PTE LTD.

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.