20Sep

Oil Inventories and US Housing Data in Focus

Financial markets are expected to remain relatively subdued on Tuesday as tomorrow’s Bank of Japan and Federal Reserve meetings push traders to the sidelines in anticipation of some very volatile markets.

As is often the case ahead of a major central bank event, traders can get a little nervous and sit on the fence. The fact that we have two on the same day is only exacerbating the problem. While there is scope for intraday volatility I don’t expect to see many major swings ahead of the BoJ decision tomorrow.

Commodity markets have been a good source of volatility over the last week, particularly oil which has come off again after last weeks’ rally. It is coming under pressure again today although it is struggling to gather any real momentum, with $45.50-46 providing support in Brent Crude and $43 in WTI. The API inventory data could be the catalyst to take it below these levels when it’s released later in the session, although it is worth noting that the last two weeks have reported a build in inventories. The suggestion by Venezuelan oil minister Eulogio Del Pino that supply needs to drop by around 10% to match demand did appear to weigh on oil earlier in the session, although this wasn’t quite enough to see oil through this key support zone.

US housing data is also being released on Tuesday which may have provided a spark for the markets but for the Fed stealing the spotlight. The data has more than likely come too late to impact the outcome of the meeting, not to mention the fact that it isn’t something that policy makers have flagged as being particularly influential in their decision making. Still, it could spark some life into the dollar, which is currently trading marginally lower on the session.

13Sep
klse

Financial Klse Malaysia Stock Market Trading Picks And News –13 September 2016

Malaysia Stock Market:

  • The FBM KLCI index lost 4.94 points or 0.29% on Friday. The Finance Index fell 0.36% to 14511.25 points, the Properties Index dropped 0.30% to 1205.32 points and the Plantation Index rose 0.06% to 7888.52 points. The market traded within a range of 8.49 points between an intra-day high of 1691.12 and a low of 1682.63 during the session.
  • Actively traded stocks include DNEX-WD, XDL, DNEX, CONNECT-PA, DNONCE, THHEAVY, VIVOCOM, YKGI-WB, CENTURY and VIVOCOM-WB. Trading volume decreased to 1342.71 mil shares worth RM1364.03 mil as compared to Thursday’s 1693.32 mil shares worth RM1577.44 mil.
  • Leading Movers were SKPETRO (+1 sen to RM1.62), YTL (+1 sen to RM1.73), AXIATA (+3 sen to RM5.65), IOICORP (+2 sen to RM4.50) and HLFG (+6 sen to RM15.70). Lagging Movers were GENTING (-19 sen to RM7.94), RHBBANK (-7 sen to RM4.98), ASTRO (-3 sen to RM2.90), TENAGA (-12 sen to RM14.44) and BAT (-34 sen to RM50.58). Market breadth was negative with 324 gainers as compared to 401 losers.
  • The KLCI ended the week with a negative note, closed lower at 1686.44 points amid overnight losses in Wall Street. Investors were taking profit amid absence of fresh positive leads.

STOCK RECOMMENDATION :

  • BUY MEXTER ABOVE 0.290 TGT 0.305 0.350 SL 0.275.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

 

13Sep
index

IForex Market Trading Signals and News – 13 September 2016

INTERNATIONAL CURRENCY BUZZ

  • Forex – Yen stronger in Asia as data supports, Fed rate views uncertain.
  • Forex – USD/CAD hits more than 1-week highs on dropping oil prices.
  • Forex – Global Stocks sell off bolsters yen, dollar supported by Fed rate hike.

EUR/USD

The dollar little changed against the other major currencies in quiet trade on Monday, as comments by a Federal Reserve official sparked fresh speculation over a potential rate hike in the near future. EUR/USD slipped 0.12% to 1.1222. The dollar found support late Friday after Boston Fed President Eric Rosengren said that low interest rates are increasing the chance of overheating the U.S. Economy. He added that gradually tightening monetary policy is appropriate to maintaining full employment. Market participants were looking ahead to a speech from FOMC voting member Lael Brainard due later on Monday for further hints on a potential interest rate increase.Meanwhile, the single currency remained mildly supported after the European Central Bank held back from adding additional stimulus measures last week and left interest rates on hold.

GBP/USD

The dollar held steady against the other major currencies on Monday, as comments by a Federal Reserve official sparked fresh speculation over a potential rate hike in the near future. The dollar gained some strength late Friday after Boston Fed President Eric Rosengren said that low interest rates are increasing the chance of overheating the U.S. economy.He added that gradually tightening monetary policy is appropriate to maintaining full employment.Market participants were looking ahead to a speech from FOMC voting member Lael Brainard due later on Monday for further hints on a potential interest rate increase.Meanwhile, the single currency remained mildly supported after the European Central Bank held back from adding additional stimulus measures last week and left interest rates on hold.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3290 TGT 1.3270 1.3240 SL 1.3320.
  • SELL GBP/USD BELOW 1.3235 TGT 1.3215 1.3185 SL 1.3265.

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

13Sep
comex 2

Comex Trading Signals and Market News –13 Sep 2016

INTERNATIONAL COMMODITY NEWS

  • Oil fell for a second trading day in a row on Monday, after speculators cut their bullish bets by the most in three months last week and U.S. crude drillers added more rigs for a tenth week running. Brent crude oil futures (LCOc1) fell 53 cents on the day to £47.48 a barrel, by 0830 GMT (04:30 a.m. EDT), while U.S. West Texas Intermediate futures
    (CLc1) fell 66 cents to $45.22 a barrel.
  • Gold prices slipped lower on Friday, following remarks from a Federal Reserve official signaling the possibility for a near   term U.S. rate hike. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery
    were down 0.12% at $1,332.90. The December contract ended Thursday’s session 0.53% lower at $1,334.50 an ounce.
  • Copper futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal on fall in demand from consuming industries in the spot market and tracking weak trend in base metals overseas Copper futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators exited positions in the industrial metal on fall in demand from consuming industries in the spot market and tracking weak trend in base metals overseas.

ECONOMY NEWS

  • The Federal Reserve should avoid removing support for the U.S. economy too quickly, Fed Governor Lael Brainard said
    on Monday in comments that solidified the view the central bank would leave interest rates unchanged next week.Brainard said she wanted to see a stronger trend in U.S. consumer spending and evidence of rising inflation before the Fed raises rates, and that the United States still looked vulnerable to economic weakness abroad.
  • California state revenue exceeded official projections in August by 5.2 percent, after four straight months of missed budget projections, thanks to strong personal income tax receipts, the state said on Monday.State Controller Betty Yee  said in a statement that “under our outdated tax structure, revenues fluctuate greatly from month to month.”California’s August revenue of $8.56 billion outpaced expectations by $425.2 million or 5.2 percent.
  • U.S. interest rate futures prices rose on Monday, diminishing the implied probability of a rate hike by the U.S. central  bank next week, after Federal Reserve Governor Lael Brainard warned against a rush to raise interest rates.The comments from Brainard had been highly anticipated through the day as she will be among the last Fed officials to speak before they enter their quiet period ahead of their next policy meeting on Sept 20-21.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1330 TARGET 1335 1341 SL BELOW 1325.
  • SELL GOLD BELOW 1325 TARGET 1320 1314 SL ABOVE 1330.

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

12Sep
9mr68gds-1386216261

Asian shares look set to skid on Monday

  • Asian shares looked set to skid on Monday with investors rattled by rising bond yields and talk the Federal Reserve might be serious about lifting U.S. interest rates as early as next week.

 

  • Nikkei futures pointed toward a starting loss of at least 2 percent, while EMini futures for the S&P 500 were off 0.2 percent after the index suffered its sharpest daily loss since the Brexit vote on Friday.

 

  • Reports the Bank of Japan was considering ways to steepen the Japanese yield curve, along with speculation that central banks more generally were running short on fresh stimulus measures, slugged sovereign debt and risk appetite globally.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

12Sep
oil rig Aug2016.png

Oil prices fall early Monday as US drillers add new rigs

  • Oil prices fell on Monday after U.S. oil drillers added rigs to look for new production as producers adapt to cheaper crude, and speculators cut positions betting on further price rises.

 

  • Brent crude futures were trading at $47.58 per barrel at 0041 GMT, down 43 cents, or 0.9 percent, from their last settlement.

 

  • U.S. West Texas Intermediate futures were down 50 cents, or 1.1 percent, at $45.38 a barrel.

 

  • Traders said the price falls on Monday and Friday were a result of increasing oil drilling activity in the United States, which indicated that producers can operate profitably around current levels.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

8Sep
wah seong pipe

Wah Seong climbs to April high on RM2.73b contract

  • Wah Seong Corporation Bhd’s (WSC) share price rose to a high of 94 sen on Thursday as buying interest in the oil and gas services company perked after it announced the value of its contract with Nord Stream 2 AG at 600mil Euro (RM2.73bil).

 

  • At 10.40am, it was up three sen to 92 sen. There were 3.63 million shares traded at prices ranging from 91.5 sen to 94 sen.

 

  • The FBM KLCI rose 0.37 of a point or 0.02% to 1,689.94. Turnover was 498.42 million shares valued at RM282.39mil. There were 256 gainers, 248 losers and 326 counters were unchanged.

 

  • Maybank Investment Bank Research said the contract value was within its expectations of 500mil Euros to 700mil Euros. This job alone lifts WSC’s order backlog by 4.4 times to RM3.5bil and offers a three-year earnings visibility.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

8Sep
forex-trading-secret-595x340

IForex Market Trading Signals and News – 8 September 2016

INTERNATIONAL CURRENCY BUZZ

  • Forex – Dollar broadly weaker on Fed rate hike doubts.
  • Forex – GBP/USD slides lower after U.K. data disappoints.
  • Forex – Aussie edges lower after GDP data, kiwi hits 16-month high.

EUR/USD

EURUSD closed above 1.1200 yesterday with price action now likely to stay flat within 1.1300 – 1.1270 price level into tomorrow’s ECB meeting. In the near term, expect the price to dip towards 1.1200 on the minor bearish divergence that is formed on the chart. Resistance at 1.1270 – 1.1280 remains key to the upside, and a break out above this resistance could keep the bullish momentum send EURUSD to test 1.1300 followed by 1.1341.A possible reversal near the resistance level could, however, signal a near-term weakness ,
which could be confirmed if EURUSD breaks down below 1.1200.

GBP/USD

The pound slid lower against the U.S. dollar on Wednesday, after data showing that U.K. manufacturing production fell more than expected in July dampened optimism over the strength of the economy.GBP/USD hit 1.3378 during European morning trade, the session low; the pair subsequently consolidated at 1.3388, shedding 0.36%.Cable was likely to find support at 1.3292, Tuesday’s low and resistance at 1.3446, Tuesday’s high and a one-and-a half month peak.The U.K. Office for National Statistics said that manufacturing production decreased by 0.9% in July, worse than expectations for a decline of 0.4% and following a drop of 0.2% a month earlier that was revised from an initial 0.3% decline.On an annualized basis, manufacturing production rose 0.8% in July, worse than forecasts for a 1.7% increase.However, the report also showed that industrial production inched up by 0.1% in July, better than forecasts for a 0.2% decrease and following the 0.1% gain in the preceding month.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3445 TGT 1.3465 1.3495 SL 1.3415.
  • SELL GBP/USD BELOW 1.3355 TGT 1.3335 1.3305 SL 1.3385.

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

 

 

8Sep
klse

Financial Klse Malaysia Stock Market Trading Picks And News –8 September 2016

Malaysia Stock Market:

  • The FBM KLCI index lost 0.35 points or 0.02% on Wednesday. The Finance Index increased 0.26% to 14550.55 points, the Properties Index up 0.65% to 1206.69 points and the Plantation Index down 0.84% to 7845.25 points. The market traded within a range of 11.52 points between an intra-day high of 1691.61 and a low of 1680.09 during the session.
  • Actively traded stocks include SANICHI, SANICHI-WD, M3TECH-WA, IRIS, CENTURY, FGV-C16, NWP, KRONO, VIVOCOM and FGV. Trading volume decreased to 1565.07 mil shares worth RM1578.42 mil as compared to Tuesday’s 1733.30 mil shares worth RM1570.06 mil.
  • Leading Movers were GENM (+8 sen to RM4.58), CIMB (+7 sen to RM4.90), SKPETRO (+1 sen to RM1.57), DIGI (+3 sen to RM5.08) and HLBANK (+6 sen to RM13.20). Lagging Movers were IOICORP (-6 sen to RM4.45), WPRTS (-5 sen to RM4.45), AMMB (-4 sen to RM4.36), TENAGA (-12 sen to RM14.56) and HLFG (-12 sen to RM15.88). Market breadth was positive with 411 gainers as compared to 354 losers.
  • The KLCI inched down and closed lower at 1689.57 points despite overnight gains in US market.The performance of our local bourse was limited as profit taking kicked in.

STOCK RECOMMENDATION :

  • BUY KRONO ABOVE 0.275 TGT 0.290 0.300 SL 0.260.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

 

 

7Sep
klse

Financial Klse Malaysia Stock Market Trading Picks And News –7 September 2016

Malaysia Stock Market:

  • The FBM KLCI index gained 11.84 points or 0.71% on Tuesday. The Finance Index increased 0.53% to 14512.94 points, the Properties Index up 0.40% to 1198.87 points and the Plantation Index rose 0.86% to 7911.79 points. The market traded within a range of 16.82 points between an intr-day high of 1689.92 and a low of 1673.10 during the session.
  • Actively traded stocks include SANICHI, M3TECH-WA, IRIS, M3TECH, BORNOIL, AAX, REACH-WA,SANICHI-WD, MYCRON and YKGI-WB. Trading volume increased to 1733.30 mil shares worth RM1570.06 mil as compared to Monday’s 1555.51 mil shares worth RM1396.64 mil.
  • Leading Movers were BAT (+140 sen to RM51.12), GENTING (+18 sen to RM8.00), WPRTS (+9 sen to RM4.50), CIMB (+9 sen to RM4.83) and AMMB (+8 sen to RM4.40). Lagging Movers were MAYBANK (-2 sen to RM7.87), MAXIS (-1 sen to RM6.24), TENAGA (-0 sen to RM14.68), PETDAG (-2 sen to RM23.36) and HAPSENG (-1 sen to RM7.77). Market breadth was positive with 412 gainers as compared to 341 losers.
  • The KLCI closed higher with last minute spike before the closing bell at 1689.92 points amid overnight positive performance in Europe market. The performance of our local bourse was lifted by buying interest in heavy weight counters such as Getting, Westsports Holdings and CIMB.

STOCK RECOMMENDATION :

  • BUY AEMULUS ABOVE 0.285 TGT 0.300 0.310 SL 0.265.

For more information about KLSE stock market please feel free to visit EPIC RESEARCH MALAYSIA.

 

 

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