Daily Archives: March 17, 2016

17Mar
comex1

Comex Trading Signals and Market News – 17 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Oil prices rallied to the highest levels of the session in European trade on Wednesday, after OPEC and non OPEC producers agreed to hold their next meeting on a plan to freeze output levels in Doha, Qatar on April 17, even without the attendance of Iran.On the ICE Futures Exchange in London, Brent oil for May delivery rose 52 cents, or 1.34%, to $39.26 by 09:05GMT, or 5:05AM ET.
  • Gold futures struggled near the prior session’s two-week low in European trade on Wednesday, as investors looked ahead to the Federal Reserve’s decision due later in the day for fresh guidance on the future path of U.S. interest rates.Gold for April delivery on the Comex division of the New York Mercantile Exchange inched up $1.30, or 0.11%, to trade at $1,232.30 a troy ounce by 07:55GMT, or 3:55AM ET.
  • Copper futures advanced during late morning trade in the domestic market on Wednesday after the Chinese Premier Li Keqiang stressed that policymakers will undertake innovative measures to keep economic growth in the world’s biggest metals consuming nation on track bolstering demand outlook.Keqiang assured at the end of annual policy meetings that China will find new drivers if growth drops out of its normal range.

ECONOMY NEWS :

  • China’s Premier Li Keqiang defended the government’s economic policies on Wednesday, vowing there would be no mass layoffs and no hard landing for the world’s second-largest economy even as the government presses ahead with painful reforms.While conceding that downward pressure is increasing, Li and other top officials at the annual meeting of parliament this month have repeatedly tried to reassure jittery financial markets and China’s major trading partners that Beijing is able to manage the slowing economy.
  • Australia on Wednesday walked back from a planned tax hike on foreign travelers who work in the country, following concerns from farmers that their supply of “backpacker labor” at harvest times may dry up and undermine Australia’s ambitions of being Asia’s delicatessen.Australian fruit exports are set to hit a record A$2.27 billion ($1.69 billion) next season, up 10 percent from the previous 2014/15 season, and backpackers on working holiday visas make up the bulk of fruit pickers during harvests.
  • Japanese blue-chip firms on Wednesday announced wage hikes far below last year’s increases, a blow to “Abenomics ” stimulus policy at a time fears of a deepening global slowdown and jittery markets are denting business sentiment. Bellwether Toyota Motor Corp (T:7203) and some other leading manufacturers agreed to raise base pay for a third year in a row, under public pressure from Prime Minister Shinzo Abe.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
  • SELL GOLD BELOW 1225 TARGET 1220 1214 SL 1231

For more information about Commodity Market Trading or Commodity Trading Signals, Please visit- EPIC RESEARCH MALAYSIA.

17Mar
forex-market-hours

IForex Market Trading Signals and News – 17 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar rises vs. rivals ahead of U.S. data, Fed
  • Forex -Dollar pushes higher ahead of Fed meeting
  • Forex-Aussie slips lower, kiwi holds steady ahead of Fed statement

EUR/USD
The EUR to USD pair continues to drift lower, yet it still retains the majority of the gains registered following the ECB meeting from last week.Momentum indicators in a number of time frames are therefore still pointing higher and advocating for more gains.On the fundamental front guidance will be provided by the US Federal Reserve’s policy meeting due on Wednesday. With many arguing the ECB is at the limit of its abilities movement in EUR/USD could now be in the hands of US decision makers.Nevertheless, the charts reflect the technical structure of the markets and therefore hold real-life implications for future direction in the exchange rate. That is why we sound out the latest views of the leading technical analysts with the view of decoding where the most likely steps in the EUR to USD will be.As always views are mixed, but these views allow the reader to take on board different opinions and arrive at independent opinions.

GBP/USD
The pound was at two-week lows against the dollar on Wednesday after as investors awaited the U.K. annual budget later in the day, but losses were held in check after the latest employment report showed a pick-up in wage growth.GB/USD was down 0.36% at 1.4100 from around 1.4124 ahead of the release of the jobs data. The Office for National Statistics reported that Britain’s unemployment rate remained steady at a 10-year low of 5.1%, in line with forecasts. The claimant count, which measures the number of people receiving unemployment benefits, fell by 18,000 in February to 717,000.Wage growth picked up slightly, with earnings, including bonuses, up 2.1% from a year earlier in the three months to January from 1.9% in the three months to December.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4150 TARGET 1.4170 1.4200 SL 1.4120
  • SELL GBP/USD BELOW 1.4080 TAGET 1.4060 1.4030 SL 1.4110

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17Mar
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 17 March 2016

MARKET UPDATES :

  • The FBM KLCI index gained 2.51 points or 0.15% on Wednesday. The Finance Index increased 0.64% to 14461.59 points, the Properties Index up 0.69% to 1153.31 points and the Plantation Index down 0.45% to 7994.78 points. The market traded within a range of 7.91 points between an intra-day high of 1697.26 and a low of 1689.35 during the session.
  • Actively traded stocks include GAMUDA-WE, AIRASIA, RANHILL, AAX-WA, KGROUP, RSENA-WA, EKA, AAX, SONA-WA and COMPUGT. Trading volume decreased to 1432.52 mil shares worth RM1691.13 mil as compared to Tuesday’s 1524.54 mil shares worth RM1703.66 mil.
  • Leading Movers were GENTING (+22 sen to RM8.87), SKPETRO (+4 sen to RM2.12), IHH (+10 sen to RM6.52), HLBANK (+18 sen to RM13.20) and MAYBANK (+9 sen to RM8.82). Lagging Movers were UMW (-18 sen to RM6.50), GENM (-10 sen to RM4.28), KLK (-40 sen to RM24.14), ASTRO (-4 sen to RM2.91) and PPB (-14 sen to RM16.64). Market breadth was negative with 380 gainers as compared to 403 losers.
  • The KLCI extended its mid-day gains by ending higher at 1693.43 points, lifted by gains in heavyweight counters led by Genting Bhd and SapuraKencana. However, market breadth was negative as investors were cautious on absence of fresh positive leads.

STOCK RECOMMENDATION :

  • BUY VS INDUSTRY ABOVE 1.280 TARGET 1.310 1.360 SL 1.225

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