Daily Archives: March 3, 2016


Comex Trading Signals and Market News – 03 March 2016


  • Oil prices fell on Wednesday after industry data showing a huge build inU.S. crude stockpiles that were already at record highs.U.S. crude inventories jumped by 9.9 million barrels last week the American Petroleum Institute said after Tuesday’s settlement.That was well above a 3.6-million barrel increase expected by analysts.
  • Gold futures were slightly lower in European trade on Wednesday, as investors looked ahead to key U.S. data later in the day to gauge if the world’s largest economy is strong enough to withstand further rate hikes this year. The U.S. was to release the ADP employment report for February at 13:15GMT, or 8:15AM ET, amid expectations for a gain of 190,000 jobs.
  • Natural Gas futures sank more than 2 per cent during noon trade in the domestic market on Wednesday as investors and speculators shunned the energy commodity as forecasts for above normal temperatures threatened to cut demand for the heating fuel in the world’s biggest fuel consuming nation.Updated weather forecasting models called for the arrival of mild spring weather across parts of the US in the next ten days which may curb demand for gas-fired heating at offices and homes.


  • Parts of Australia’s Great Barrier Reef face permanent destruction if the current El Nino, one of the strongest in two decades, does not ease this month, scientists said on Wednesday.The El Nino is a result of a warming of the ocean in the western Pacific — ideal conditions for coral bleaching, where coral expels living algae, causing it to calcify. Coral can only survive within a narrow band of ocean temperature.
  • Euro zone banks have dealt well with rock bottom interest rates and their biggest problems are not caused by loose monetary policies, a top European Central Bank official said on Wednesday, paving the way for more policy easing next week.Bank earnings may be weak, constraining their ability to generate capital, but many have overcome negative central bank rates and the ECB’s commitment to price stability has actually supported banking profitability, Executive Board member Benoit Coeure said.
  • The Group of 20′s agreement that monetary policy alone cannot lead to balanced growth does not place any restrictions on the Bank of Japan’s ability to expand its negative interest rate policy, an adviser to Japan’s prime minister said on Wednesday.The BOJ should calmly study the impact of its negative rate policy, which came into effect last month, when deciding its next move, Masahiko Shibayama told Reuters in an interview.


  • BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
  • SELL GOLD BELOW 1222 TARGET 1217 1211 SL 1228

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IForex Market Trading Signals and News – 03 March 2016


  • Forex -Dollar rises against yen as risk appetite sharpens
  • Forex -Aussie rises on strong GDP data, kiwi holds steady
  • Forex -Yen sours as risk appetite returns, Aussie focused on GDP

The EUR/USD pair keeps its stability below 1.0890 level, showing slight bearish bias in attempt to move away from the mentioned level, noticing that stochastic loses its positive momentum gradually approaching from the overbought levels, which represents negative factor that we wait to push on the price to continue the bearish bias in the upcoming period. Therefore, our bearish trend expectations will remain valid efficiently on the intraday and short term basis, supported by the negative pressure that comes from the EMA50, waiting for visiting 1.0750 level as a next main target, pointing that breaching 1.0890 level will stop the suggested negative scenario temporarily and pushes the price to test 1.1005 level initially.

The pound slid to the day’s lows against the dollar on Wednesday after data showing that growth in the U.K. construction sector slowed to 10-month lows in February, on a drop in housebuilding.GBP/USD eased to 1.3932 from around 1.3945 ahead of the data. The Markit construction purchasing managers’ index fell to 54.2 from January’s 55.0. Economists had ex- pected the index to tick up to 55.5.It was the slowest increase in overall construction output since April 2015.Housebuilding expanded at the slowest pace since June 2013 and construction firms hired staff at the weakest rate in two-and-a-half years.The report came a day after a similar survey of the manufacturing sector, which showed that activity slumped to the lowest in almost three years in February.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was close to one-month highs at 98.48.


  • BUY GBP/USD ABOVE 1.4040 TARGET 1.4060 1.4090 SL 1.4010
  • SELL GBP/USD BELOW 1.3880 TARGET 1.3860 1.3830 SL 1.3910

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Financial Klse Malaysia Stock Market Trading Picks And News – 03 March 2016


  • The FBM KLCI index gained 20.21 points or 1.21% on Wednesday. The Finance Index increased 0.91% to 14268.24 points, the Properties Index up 0.11% to 1136.99 points and the Plantation Index rose 0.35% to 7848.88 points. The market traded within a range of 16.38 points between an intra-day high of 1691.03 and a low of 1674.65 during the session.
  • Actively traded stocks include AIRASIA, AAX, APFT, SKH, SKPETRO, GENETEC, MINETEC, XOX, TIGER and JADI. Trading volume decreased to 1664.69 mil shares worth RM2278.63 mil as compared to Tuesday’s 1673.90 mil shares worth RM1648.28 mil.
  • Leading Movers were SKPETRO (+8 sen to RM2.05), MAXIS (+22 sen to RM6.42), DIGI (+15 sen to RM5.08), SIME (+20 sen to RM7.90) and GENTING (+17 sen to RM8.39). Lagging Movers were UMW (-8 sen to RM6.97), KLCC (-3 sen to RM7.02), KLK (-2 sen to RM23.88), GENM (-0 sen to RM4.31) and PET- DAG (-2 sen to RM25.00). Market breadth was positive with 478 gainers as compared to 375 losers.
  • The KLCI closed higher at 1691.03 points with last minute spike before the closing bell amid overnight gains in US Market following the better-than-expected manufacturing data. The performance of our local bourse was in tandem with our regional peers and lifted by buying interest in heavy weight counters such as SapuraKencana Petroleum, Maxis and Digi.com.


  • BUY IFCAMSC ABOVE 0.760 TARGET 0.800 0.850 SL 0.700

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