24Jul
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Forex Market Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Steadies, Yen Pares Back Early Gains
Forex – EUR/USD bounces off lows, reclaims 1.1720
Forex – Trump Comments Knock Dollar, Yen Up on BoJ Speculation

EUR/USD

EUR/USD now alternates gains with losses ahead of the opening bell across the pond, managing to stage a rebound from 1.1690 to the vicinity of 1.1730, where met some decent hurdle. Spot keeps navigating the upper end of the recent range above 1.1700 the figure amidst a generalized sideline theme in the global markets. On the USD-side, the greenback stays trapped within a tight range against the backdrop of rising yields in the US 10-year note and always wary of headlines coming from the US-China trade dispute. In the docket, US Chicago Fed index rebounded to 0.43 in June, while Existing Home Sales during the same period are due later. At the moment, the pair is losing 0.05% at 1.1714 and a breakdown of 1.1690 (10-day sma) would target 1.1676 (21-day sma) and then 1.1575 (low Jul.19). On the flip side, the next hurdle at 1.1748 (high Jul.17) followed by 1.1792 (high Jul.9) and finally 1.1853 (high Jun.14).

GBP/USD

The GBP/USD pair quickly reversed an early European session dip to 1.3113, albeit continued with its struggle to make it immediate barrier near mid-1.3100s. Despite a bearish development, wherein the EU leaders rejected the UK PM Theresa May’s current Brexit plan, the pair continued gaining positive traction at the start of a new trading week and was supported by a follow-through US Dollar selling bias. The US President Donald Trump’s comments on Friday, showing displeasure over the Fed’s
monetary tightening and the recent dollar strength, kept the USD bulls on the defensive and helped the pair to build on last week’s goodish rebound from YTD lows. The bullish momentum, however, lacked any strong conviction, with easing USD bearish pressure capping the pair near a confluence resistance comprising of 200-hour SMA and 50% Fibonacci retracement level of the 1.3363-1.2957 recent downfall.

 

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24Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

    COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • U.S. crude oil prices were steady on Monday after U.S. President Donald Trump warned Iran over Twitter on Sunday night. West Texas Crude oil futures rose 0.31% to $68.47 a barrel as of 10:42 AM ET (14:42 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.63% to $73.53. Prices surged earlier in the session after Trump warned Iranian President Hassan Rouhani on Sunday to “never, ever threaten the U.S. again,” or Iran would “suffer the consequences.”
  • Oilfield services provider Halliburton Co (N:HAL) on Monday reported a 24 percent increase in quarterly revenue, narrowly beating analysts’ estimates, as higher oil prices sparked a surge in U.S. crude production activity. Halliburton has benefited from soaring U.S. oil production, which reached a record 11 million barrels per day in July, according to a government estimate.
  • The world’s largest oil companies are pumping more natural gasthan ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions. This marks a shift over the past decade for an industry that once focused predominantly on crude oil, with gas in most cases an after-thought. Now, the rise of gas-powered electric generation, surging production from U.S shale fields and the burgeoning liquefied natural gas (LNG) industry that makes shipping the fuel possible, have conspired to create a boom.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Real gross-domestic-product growth in the country slipped 0.1 percentage points to 6.7% in the second quarter, the statistics bureau reported Monday, a pace not seen since 2016. That is still over the government’s target of around 6.5%, and year-over-year growth remained at 6.8%. The fall was widely expected after Chinese policymakers began a campaign to curb financial leverage last year, which analysts say has weighed heavily on growth.
  • Canada’s economic growth is strong and some housing market vulnerabilities have improved, but trade policy is a big risk to the outlook and the government should reform taxes to boost corporate competitiveness, the OECD said on Monday. The Paris-based Organisation for Economic Co-operation and Development said while GDP growth is projected to remain robust, with exports underpinned by strong global demand, rising rates will sap some consumer strength.
  • China will adopt a more vigorous fiscal policy to help tackle external uncertainties without resorting to strong policy stimulus, state radio said on Monday, citing the cabinet. Slowing economic growth has sparked a heated debate among government researchers on whether fiscal policy should play a bigger role in softening the impact of a trade war with the United States. “The proactive fiscal policy will become more active,” state radio cited a statement issued after a cabinet meeting, chaired by Premier Li Keqiang, as saying.

COMEX GOLD SIGNAL

23Jul

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Metal prices were higher Friday as the dollar moved sharply lower after President Donald Trump said higher interest rates and the strength of the greenback were hampering economic growth. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $8.10, or 0.66%, to $1,232.30 a troy ounce from a session low of $1.215.50.
  • The U.S. oil and gas industry is lobbying against tighter sanctions on Russia that could impact U.S. investments there, congressional sources said on Friday. The U.S. Senate has revived a bill, called DETER, that would allow for swift sanctions if Moscow was found meddling in future U.S. elections. Both Democrats and Republicans are looking to redress what they consider President Donald Trump’s weak stance on accusations of Russian interference in the 2016 election when he met Russian President Vladimir Putin on Monday.
  • President Donald Trump said he was ready to impose tariffs on all $500 billion of goods the U.S. imports from China, remarks that sent financial markets retreating and threatened to escalate a trade clash with the Asian giant. “We’re down a tremendous amount,” Trump said in an interview about trade imbalances with China on CNBC broadcast on Friday.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The United States is monitoring the recent weakness in China’s yuan currency and will review whether the currency has been manipulated, Treasury Secretary Steven Mnuchin told Reuters on Friday. Mnuchin said in an interview in Sao Paulo, Brazil, that the yuan’s weakness would be reviewed as part of the U.S. Treasury’s semi-annual report on currency manipulation. The report is due on Oct. 15 and will be based on activity for the first six months of 2018.
  • U.S. President Donald Trump may not be happy about the strength of the U.S. dollar, but the greenback’s recent rally may partly be a product of his own making. The U.S. dollar has been climbing against major currencies for several months, with thedollar index (DXY) up nearly 7.0 percent over the last three months and on Thursday hit a one year high.
  • The U.S. Securities and Exchange Commission said on Friday that Deutsche Bank (DE:DBKGn) (N:DB) has agreed to pay nearly $75 million to settle an investigation into the mishandling of pre-release American Depositary Receipts (ADR). Deutsche Bank did not admit or deny the SEC’s findings but agreed to return its “ill-gotten gains” and comply with the SEC’s fine, the regulator said. The SEC said its investigation has revealed “industrywide abuses” in pre-released ADRs, said Stephanie Avakian, of the SEC’s Enforcement Division.

GOLD TRADING FORECAST TODAY

20Jul

Golden Springs offers 75% stake in Singapore creature feed maker Gold Coin to Aboitiz unit

Golden Springs Group has sold a 75 for each penny stake in Gold Coin Management Holdings to Pilmico International, an auxiliary of Aboitiz Equity Ventures (AEV), in an arrangement which esteems the domesticated animals feed maker at US$550 million.

Sabin M Aboitiz, AEV’s head working officer and Pilmico’s leader and CEO, said the acqusition will include three million metric huge amounts of feed volume, notwithstanding quadrupling AEV’s general feeds generation limit.

The exchange denotes the beginning of a “long haul organization” between the Aboitiz Group and Golden Springs, which will keep on retaining a 25 for every penny stake in Gold Coin.

Set up in Singapore in 1953, Gold Coin is presently one of the biggest creature feed makers in the Asia Pacific, working crosswise over 11 nations. It is the “main unadulterated play creature nourishment maker” dynamic in the dominant part of key animals feed advertises in South-east Asia, said Golden Springs.

It at present utilizes more than 3,000 individuals crosswise over 21 generation creation offices, and offers items for both the domesticated animals and the water ventures, including youthful creatures and incubation facility feed, premixes, focuses and compound feed.

Golden Springs is an agribusiness claimed by Peter Zuellig, a scion of Switzerland’s well off Zuellig family, who said on Friday that “the Zuellig and Aboitiz families have known each other for ages”.

Said Mr Zuellig: “Gold Coin, as one of the main creature nourishment stages in Asia Pacific, is very much ready to gain by rising proteinconsumption. GSG has chosen to keep on retaining a minority stake to guarantee that we can take part in Gold Coin’s solid development potential as it executes on its extension systems together with Pilmico.”

20Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

    COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Metal prices continued to falter on Thursday amid trade concerns and a strengthening U.S. dollar. Comex gold futures for August delivery decreased 0.88% to a one-and-a-half-year low of $1,217.10 a troy ounce as of 10:58 AM ET (14:58 GMT). The precious metal was held back as trade tensions continued after China said the White House was wrong to blame Chinese President Xi Jinping for blocking progress on a trade deal.
  • Oil prices rose on Thursday, as a Saudi Arabian official indicated that the country’s exports will be little changed despite a large increase in production. New York-traded West Texas Intermediate crude futures gained 53 cents, or 0.8% to $68.28 a barrel by 11:29 AM ET (15:29 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up 38 cents, or 0.5%, to $73.28.
  • The U.S. Energy Information Administration said in its weekly report thatnatural gas storage in the U.S. increased by 46 billion cubic feet in the week ended July 13, compared to forecasts for a build of 58 billion. Thursday’s data compared with a gain of 51 billion cubic feet (bcf) in the preceding week and represented a decline of 710 billion from a year earlier and was also 535 bcf below the five-year average.20july4

ECONOMY NEWS

  • European Union countries will suffer long-term damage equivalent to about 1.5 percent of annual economic output if Britain leaves the bloc without a free trade deal next year, the International Monetary Fund said on Thursday. Britain is due to leave the EU on March 29 next year, and Prime Minister Theresa May has yet to reach a consensus within her own Conservative Party on what future ties with the EU should look like, let alone broker a final deal with the EU.
  • Commerce Secretary Wilbur Ross said Thursday it was “too early” to say if the United States would impose tariffs of up to 25 percent on imported cars and parts, a suggestion that has been met with harsh criticism from the industry. The department opened an investigation in May into whether imported autos and parts pose a national security risk and was holding a hearing on the probe on Thursday, taking testimony from auto trade groups, foreign governments and others.
  •  Russian lawmakers backed a proposal on Thursday to raise the retirement age in a preliminary vote, part of an unpopular budget package designed to shore up government finances which has already dented President Vladimir Putin’s approval ratings. Looking for extra money for the budget, the government proposed raising the retirement age. It made the announcement on June 14, the day Russia hosted the first match of the soccer World Cup, leading some critics to suggest the authorities were using the tournament to deflect attention from unpopular news.

COMEX GOLD SIGNAL

20Jul
buy-sell

Forex Market Report| Epic Research

INTERNATIONAL CURRENCY BUZZ
Forex – Firmer U.S. dollar boosts corporate interest in currency hedging
Forex – Sterling Falls Below 1.30 for First Time in 10 Months
Forex – EUR/USD off lows, still looking vulnerable

EUR/USD

The EUR/USD pair bottomed after the release of US data (jobless claims and Philly Fed) at 1.1574, hitting he lowest level in three weeks. From the lows bounced to the upside recovering almost 50 pips. The recovery was capped by 1.1620 and at the time of writing was hovering around 1.1600/05, headed toward the third decline in a row. EUR/USD moves followed the US Dollar Index that hit fresh 1-year highs and then pulled back trimming daily gains. A retreat in US yields weakened the US dollar during the last hours. Earlier today the 1-year yield reach the highest level since June 2008. The pair rose from the 1.1580 area amid a correction of the US dollar, particularly against European currencies. The strength of the greenback versus commodity currencies remained intact at all times today. Despite the move off lows, the tone remains bearish for the EUR/SUD and a decline back below 1.1600 could add more pressure, opening the way for a test of the daily low at 1.1575. On the upside, a recovery above 1.1630 could remove the intraday downside bias.

GBP/USD

The pound dropped below the $1.30 level on Thursday as a result of an unexpected drop in consumer spending in June, further slimming the chances of a Bank of England rate hike in August. At 10:35 GMT, GBP/USD was 1.2997, down 0.55%, the lowest level for the cable since September 2017. Retail sales month over month fell by 0.5% in June, lower than the expected increase of 0.1%. Sales for May were revised upward from 1.3% to 1.4%. The core retail sales figure, which excludes automobiles and fuel, fell by 0.6% – lower than the expected drop of 0.3%. Overall retail sales
growth for the second quarter came in at the strongest level since 2004 despite the fall in June. The month of June is purported to have been weaker as a result of hotter weather and England’s unexpected success in the World Cup. The combination of wage growth, soft inflation and now disappointing retail sales for the month of June may give the Bank of England food for thought when the Monetary Policy Committee meet in August to set interest rates.

 

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19Jul

Singapore’s GeTS dispatches cross-outskirt blockchain for exchange connecting Asean and China’s advanced Silk Road

Worldwide eTrade Services (GeTS), an auxiliary of CrimsonLogic, has propelled Open Trade Blockchain (OTB), a comprehensive and extensible blockchain benefit worked for the exchange networks to help general effectiveness, security and straightforwardness for worldwide exchange.

It is additionally the district’s first cross-fringe blockchain stage that is lined up with China’s Belt Road Initiative (BRI) and the Southern Transport Corridor.

CrimsonLogic is a main supplier of eGovernment items and administrations situated in Singapore.

The OTB is a permissioned blockchain arrange kept running by confided in hubs which are facilitated by whitelisted licensed exchange consistence organizations. It upgrades the security of exchange related archives, from Certificate of Origin, to Commercial Invoice and improves the straightforwardness and trust between shippers, cargo forwarders and clients.

For OTB clients, the stage is based on a natural and easy to understand interface that makes it simple for all organizations whether carefully wise or not, to use.

The geolocation of existing and up and coming hubs gives a broad blockchain arrange crosswise over Asia. What’s more, with OTB connecting China to rest of the locale, it will give a vital edge to organizations needing to take part in China’s BRI activities as it offers more prominent availability with nation’s “Computerized Silk Road”.

GeTS is at present helping accomplices to arrangement blockchain hubs dynamically. This incorporates accomplices, for example, China-Asean Information Harbor, Suzhou Cross-E-Commerce and Commodities Intelligence Center.

Chong Kok Keong, CEO of Global eTrade Services (GeTS) says, “As we expand on OTB, we imagine a more straightforward and confided in condition for brokers to better lead their business. We see huge potential in the open foundation of OTB, and I empower the worldwide exchange and different networks to construct blockchain benefits on OTB to better make a more straightforward and secure condition for organizations.”

19Jul

COMEX MARKET IN SINGAPORE| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • West Texas Intermediate oil remained lower in North American trade on Wednesday after data showed that oil supplies in the U.S. registered a surprise inventory build and U.S. production reached record levels. But gasoline inventories registered a much larger-than-expected draw and distillate stockpiles unexpectedly declined. After an initial reaction extending losses, crude prices later recovered some lost territory.
  • Gold prices were steady near a one-year low on Wednesday as a higher dollar and comments from Federal Reserve Chair Jerome Powell continued to weigh. Comex gold futures for August delivery decreased 0.29% to $1,223.80 a troy ounce as of 10:46 AM ET (14:46 GMT). Powell reiterated the central bank should gradually increase interest rates at his hearing at Congress on Tuesday. Trade tensions and fiscal policy made the future uncertain, he added.
  • Copper’s slump amid a deepening global trade conflict offers a long-term buying opportunity, according to Citigroup Inc (NYSE:C)., which shrugged off fears for world growth to boost its long-term forecasts. “Prepare for a decade of Dr. Copper on steroids,” analysts including Max Layton and Tracy Liao wrote in a July 17 note. The bank sees average annual prices at $8,000 a metric ton in 2022, passing $9,000 a ton by 2028 under its baseline scenario.
  • GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • U.S. Commerce Secretary Wilbur Ross said on Wednesday that he has launched a new national security investigation into uranium imports that could lead to tariffs or quotas to limit them. The “Section 232” probe was prompted by a petition filed by two U.S. uranium mining companies, Ur-Energy Inc (A:URG) and Energy Fuels Inc (A:UUUU), complaining that subsidized foreign competitors have caused them to cut capacity and lay off workers.
  • European Commission President Jean-Claude Juncker said he was “upbeat and relaxed” ahead of his trip to Washington next week to discuss strained trade relations between the European Union and the United States. Juncker is due meet U.S. President Donald Trump on July 25 with a clear focus on trade after the United States imposed tariffs on EU steel and aluminum and Trump’s repeated threats to extend those measures to European cars. Trump’s top economic adviser, Larry Kudlow, said he expected Juncker to come with a “significant” trade offer.
  • U.S. President Donald Trump’s top economic adviser said on Wednesday that Chinese President Xi Jinping was holding up a deal to resolve a significant trade dispute between the United States and China. Larry Kudlow, head of the White House Economic Council, also said he expects European Commission President Jean-Claude Juncker to bring an important trade offer to Trump when he visits Washington next week. Kudlow said he believed lower-ranking Chinese officials want to put a stop to dueling U.S. and Chinese tariffs. These officials include Xi’s top economic adviser Liu He, Kudlow said, but Xi has refused to make changes to China’s technology transfer and other trade policies.

GOLD TRADING FORECAST TODAY

 

18Jul

Singapore Stock Watch: UOB is top bank pick for RHB as NIM augmenting balance property checks

Singapore Stock Watch: RHB is keeping up UOB as its best pick in the Singapore managing an account part given future NIM (Net Interest Margin) enlarging would balance negative impacts from the as of late reported government measures to cool Singapore’s private property advertise.

What’s more, administration’s aim to bring down its CAR (compound yearly rate) could conceivably give financial specialists more profits.

“We trust the surge in UOB’s P/BV between 2003-2007 FFR (Federal assets rate) upcycle could be rehashed in the current FFR upcycle,” says investigator Leng Seng Choon in a Wednesday report, “We anticipate that 2Q18 profit will be in accordance with our desires, with advance extension supporting net premium salary development.”

For 2Q18, administration has demonstrated that more spotlight would be set on the corporate section, which creates bring down edge by and large. Furthermore, more top notch fluid resources because of the more hazardous worldwide condition could keep yields stifled. Notwithstanding, the higher Sibor (Singapore Interbank Offered Rate) will be a positive for NIM.

“Generally speaking, we gauge 2Q18 NIM to be possibly more extensive than 1Q18’s 1.84%, which was 3bps higher than 4Q17’s. We trust 2Q18 credit development will be couple with administration’s direction of high single-digit for FY18,” says Leng.

On a more extended term viewpoint, the continuous increments in the US FFR will likewise convert into more extensive NIM. RHB is estimating NIM to enlarge facilitate in consequent quarters, and are anticipating FY20 NIM of 1.97%.

 

Epic Research Singapore

The July 5 declaration by the legislature on measures to cool Singapore’s private property market could moderate advance development all the more clearly by 2020 and past.

Throughout the following 1-2 years, loaning to the property portion is probably going to be upheld by advances officially endorsed in 1H18 and before, as drawdown will be continuous throughout the following couple of quarters.

“We are guaging advance extension of 8% and 6.5% for FY18 and FY19 individually at UOB,” says Leng.

The exchange war between the US and China is relied upon to affect the riches administration business. Riches administration AUM is probably going to be influenced also. Be that as it may, advance development in 2Q18 should prompt more credit related charges.

“Look after ‘purchase’ with $33.30 target cost or 1.43 book esteem, which we apply to our gauge FY19 book estimation of $23.35. In the course of recent years, UOB has exchanged at a normal P/BV of 1.24x. We trust the higher P/BV target is sensible given the enhancing NIM condition.

As at 2.58pm, shares in UOB are exchanging 1 penny higher at $25.93.

18Jul
forex-trading-opciones-binarias-810x314

Forex Market Report| Epic Research

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Hits Day’s Highs on Powell Testimony
Forex – EUR/USD tumbles to sub-1.1700 area ahead of Powell
Forex – GBP/USD tumbles to lows, around mid-1.3100s on Brexit concerns

EUR/USD

After clinching fresh tops in the 1.1740/50 band in early trade, EUR/USD met a wave of selling orders and has now retreated to the 1.1700/1.1690 band. The pair gave away initial gains beyond 1.1700 the figure and is now remain under pressure in light of the upcoming semi-annual testimony by Fed’s J.Powell before the Senate Banking Committee. USD gathered extra traction after US June’s Industrial and Manufacturing Production expanded beyond consensus at a monthly 0.6% and 0.8%, respectively. On the not-so-bright-side, Capacity Utilization Rate came in at 78.0%. missing estimates albeit higher than May’s 77.7%. Looking ahead, investors expect Powell to deliver a message in line with the statement published at the June meeting, although attention has also shifted to the yield curve and the continuation of the gradual path when comes to raising rates. At the moment, the pair is losing 0.12% at 1.1696 facing the next support at 1.1663 (21-day sma) seconded by 1.1615 (low Jul.13) and finally 1.1527 (low Jun.29).

GBP/USD

The GBP/USD pair extended its sharp intraday slide and tumbled around 120-pips from the post-UK jobs data swing high level of 1.3269. The latest UK political headlines, wherein Labour party members were said to support the amendment offered by rebel Tory MPs to keep Britain in the customs union after Brexit raised concerns about the UK PM Theresa May’s future and prompted some aggressive selling around the British Pound. This coupled with resurgent US Dollar demand, amid expectations about an upbeat economic outlook from the Fed Chair Jerome Powell’s semiannual congressional testimony, added to the downward pressure surrounding the major. The ongoing sharp decline could also be attributed to some cross-driven weakness, steaming out of a sudden spike witnessed around the EUR/GBPcross.

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