Daily Archives: March 28, 2016

28Mar
gold-bars

Comex Trading Signals and Market News – 28 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Copper prices fell by 0.09 per cent on Wednesday after US home resales fell sharply in February in a potentially troubling sign for America’s economy signaling a weak housing market in US world’s largest economy which reduced the demand outlook for the metal.At the MCX copper futures for April 2016 contract were trading at Rs.338.85 per 1 kg down by 0.09 per cent after opening at Rs. 338.50 against the previous closing price of Rs. 339.15.
  • Crude oil prices drifted lower in light trade on Friday in Asia with many markets shut globally to mark Good Friday. On the New York Mercantile Exchange, WTI crude for May delivery was last quoted at $39.59 a barrel. Data on U.S. rig counts from Baker Hughes normally released on Friday is unlikely with the U.S. on a public holiday.
  • U.S. natural gas futures turned higher in North American trade on Thursday, reversing losses after data showed U.S. natural gas supplies in storage rose less than expected last week.Natural gas for delivery in April on the New York Mercantile Exchange tacked on 0.6 cents, or 0.33%, to trade at $1.800 per million British thermal units by 4:35GMT, or 10:35AM ET.

ECONOMY NEWS :

  • Japan’s consumer inflation was flat in the year to February as low energy costs and weak consumption put a lid on price growth, government data showed on Friday, keeping the central bank under pressure to top up stimulus although it eased policy less than two months ago.A separate BOJ index calculated by the central bank to strip out the effects of energy and fresh food prices showed consumer inflation at 1.1 percent in the year to February, unchanged from January.
  • Municipal authorities in Shanghai tightened mortgage down payment requirements for second home purchases on Friday, in a move to cool an overheating property market and reduce fears of a bubble.Senior Chinese leaders raised concerns about the country’s overheated housing market during an annual parliament meeting this month, and Shanghai is the biggest city to take action in the wake of the National People’s Congress, which ended a week ago.
  • China’s yuan will come under renewed downward pressure if the U.S. dollar rises significantly in coming months, a policy adviser to the People’s Bank of China said on Friday.Huang Yiping, a professor at Peking University and a  member of the central bank’s monetary policy committee, also said the central bank was managing the yuan against a basket of currencies including the dollar, not again the dollar alone, reaffirming the official stance.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1226 TARGET 1231 1240 SL 1220
  • SELL GOLD BELOW 1215 TARGET 1210 1200 SL 1222

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

28Mar
Stacks of coins with the word FOREX isolated on white

IForex Market Trading Signals and News – 28 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Yen weaker after CPI comes in flat for February
  • Forex -Dollar poised for weekly gain after Fed officials signal rate hikes
  • Forex-Dollar on track for 1 pct weekly gain, sterling down 2.4 pct

EUR/USD
EUR/USD fell mildly on Thursday to close lower for a fifth consecutive session, amid soft durable goods orders in the U.S. and further indications that the Federal Reserve could increase the pace of its first tightening cycle in nearly a decade.The currency pair traded in a tight range between 1.1146 and 1.1187, before closing at 1.1175, down 0.04% on the session. Since surging to five-month highs last week, the euro has fallen more than 1.25% against the dollar. At session-lows, the euro dropped to its lowest level since the Fed rattled currency markets worldwide last week by unexpectedly reducing its interest rate forecast for the next three years. More broadly, the euro is down by roughly 1% over the last six weeks. EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.

GBP/USD
GBPUSD is currently trading with a bearish bias. During the previous intraday, pound traded perfectly short as previous forecasted and ended up rebounding from the zone 1.4079-1.4059. In the meantime, we sit on the sidelines and wait for a clear break below 1.4059 for us to continue short with our target at 1.385. A clear rebound from this zone will mean looking for long positions with our target at 1.4270. This pair should be traded alongside EUR/USD. These pairs have a strong positive correlation of up to +0.89 and will thus likely move in a similar direction during this intraday. Only buy or sell Pound if the other positive correlated pair is giving the same signal. Conservative traders should wait for a clear breakout below 1.4059 to go short with their target at 1.385. A clear rebound from the zone 1.4079-1.4059 would mean looking for long positions with our ultimate target 1.4270. If the price rebounds from this zone, then its wise to wait for a break above 1.4176 to confirm the anticipated upward rally.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4180 TARGET 1.4200 1.4230 SL 1.4140
  • SELL GBP/USD BELOW 1.4100 TARGET 1.4080 1.4040 SL 1.4130

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

28Mar
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 28 March 2016

MARKET UPDATES :

  • The FBM KLCI index lost 9.02 points or 0.52% on Thursday. The Finance Index fell 0.38% to 14614.62 points, the Properties Index dropped 0.08% to 1187.52 points and the Plantation Index down 0.32% to 7967.31 points. The market traded within a range of 10.11 points between an intra-day high of 1720.98 and a low of 1710.87 during the session.
  • Actively traded stocks include EKA, POS-CV, SGB-PR, AIRASIA, AAX, GAMUDA-WE, HSI -HT, BORNOIL, AAX-WA and SONA-WA. Trading volume decreased to 1686.04 mil shares worth RM1882.18 mil as compared to Wednesday’s 1931.70 mil shares worth RM2443.84 mil.
  • Leading Movers were RHBCAP (+4 sen to RM5.84), IOICORP (+2 sen to RM4.83), PET- DAG (+6 sen to RM24.18), TM (+1 sen to RM6.58) and SIME (+1 sen to RM8.00). Lagging Movers were GENTING (-40 sen to RM9.50), HLFG (-44 sen to RM14.96), UMW (- 10 sen to RM6.90), PPB (-18 sen to RM16.68) and IHH (-6 sen to RM6.50). Market breadth was negative with 318 gainers as compared to 513 losers.
  • The KLCI closed lower at 1715.53 points amid overnight losses in Wall Street follow- ing lower oil prices, while investors awaited further clues on the US economy and direction of its monetary policy.

STOCK RECOMMENDATION :

  • BUY SUNCON ABOVE 1.680 TARGET 1.720 1.780 SL 1.610

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