Daily Archives: March 30, 2016

30Mar
comex1

Comex Trading Signals and Market News – 30 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices fell by 0.06 per cent on Tuesday in the midst of speculation the Federal Reserve could give serious consideration to a rate hike at its April meeting boosting the US dollar.Federal Reserve Bank of San Francisco President John Williams reiterated that rate hikes this year are expected if data trends continue to show sold US economic growth.
  • Crude oil prices dropped by 0.46 per cent on Tuesday with US industry data ahead on stockpiles. The American Petroleum Institute will release its estimates of crude gasoline and distillates stocks late Tuesday. That will be followed by more closely-watched data from the US Department of Energy.
  • Natural Gas futures jumped by nearly 2 per cent in the domestic market on Monday tracking a bullish trend in the overseas market as investors and speculators booked fresh positions in the energy commodity amid expectations for gas-fired heating and cooling demand across parts of the US in the coming weeks.

ECONOMY NEWS :

  •  The Bank of England said on Tuesday that risks around Britain’s referendum on the European Union could push up borrowing costs and weaken sterling, and tightened rules for mortgage lending to landlords. The central bank said the outlook for financial stability had worsened since its last quarterly report in November, and also moved ahead with plans to require some banks to hold extra capital as lending growth started to pick up.
  • Japan’s parliament approved on Tuesday a record 96.72 trillion yen ($851.5 billion) state budget for fiscal 2016, paving the way for a fully-fledged debate on additional stimulus spending to spur the flagging economy. Prime Minister Shinzo Abe seeks to front-load spending for the annual budget for the coming fiscal year from April and to adopt a fresh extra budget, while speculation is rife that he may again delay a sales tax increase planned for April 2017.
  • John Williams, president of the San Francisco Fed, stated that the U.S. economy was in good shape with global risks abating and reiterated that future rate hikes by the U.S. central bank would be gradual. In a speech given Tuesday in Singapore, Williams commented that “things are looking very good” with regard to U.S. employment and said that he expects the jobless rate to continue to edge down.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1224 TARGET 1229 1235 SL BELOW 1219
  • SELL GOLD BELOW 1215 TARGET 1210 1204 SL ABOVE 1220

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

30Mar
forex-trading-tips

IForex Market Trading Signals and News – 30 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Aussie holds steady, kiwi gains ground with Yellen in focus
  • Forex -Dollar pushes higher ahead of Yellen speech
  • Forex-Yen under pressure, U.S. data disappoints dollar bulls

EUR/USD
EUR/USD is showing limited movement on Tuesday, as the pair trades at 1.1180 in the European session. On the release front, Eurozone M3 Money Supply remained steady at 5.0%, while Private Loans improved to 1.6%. Over in the US, CB Consumer Confidence is forecast to climb to 93.9 points. Federal Reserve Janet Yellen will deliver remarks at the Economic Club in New York City. US economic growth in the fourth quarter was respectable, but there are signs that we could see softer numbers for the first quarter of 2016. The Atlanta Fed downgraded its forecast for Q1 from 1.4 percent to 0.6 percent. The original forecast, released just last week, was lowered in response to a downgraded forecast of personal income and outlays by the US Bureau of Economic Analysis.

GBP/USD
The recovery back above the rising March trendline might mark the end of the pullback from $1.45. We have certainly seen a steady march higher, with $1.41 providing support for the pair.Today’s dip below the trendline may mark another possible buying opportunity, and a breakout above $1.4270 should see gains towards $1.4330 and then $1.4450. Currency pair GBP/USD began to increase, the pound rose above the level of 1.4250. The RSI indicator is rising after a rebound from the support level. The main aim to strengthen the sterling remains at the upper boundary of the descending channel. Thus, the forecast GBP/USD on 29.03.2016 includes securing the pair above the 1.4300 mark and continued growth.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4298 TARGET 1.4318 1.4348 SL BELOW 1.4268
  • SELL GBP/USD BELOW 1.4215 TARGET 1.4195 1.4165 SL ABOVE 1.4245

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30Mar
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 30 March 2016

MARKET UPDATES :

  • The FBM KLCI index gained 12.63 points or 0.74% on Tuesday. The Finance Index increased 1.01% to 14639.83 points, the Properties Index up 0.17% to 1181.9 points and the Plantation Index rose 0.51% to 7905.01 points. The market traded within a range of 16.39 points between an intra-day high of 1715.69 and a low of 1699.30 during the session.
  • Actively traded stocks include SONA-WA, AIRASIA, BISON, EKA, ANZO, YKGI-WB, AAX- WA, CHINHIN, PESONA and JADI. Trading volume increased to 1645.01 mil shares worth RM2164.31 mil as compared to Monday’s 1538.85 mil shares worth RM1302.93 mil.
  • Leading Movers were GENTING (+41 sen to RM9.69), AMMB (+15 sen to RM4.66), GENM (+12 sen to RM4.60), CIMB (+10 sen to RM4.77) and HLFG (+22 sen to RM15.30). Lagging Movers were PETDAG (-20 sen to RM24.00), ASTRO (-1 sen to RM2.98), MAXIS (-2 sen to RM6.31), PETGAS (-4 sen to RM21.86) and KLCC (-1 sen to RM7.15). Market breadth was positive with 417 gainers as compared to 376 losers.
  • The KLCI soared and closed higher at 1715.04 points despite overnight mix performance in US market. The performance of our local bourse was buoyed by buying interest in heavy weight counters such as Genting, Genting Malaysia and CIMB.

STOCK RECOMMENDATION :

  • BUY EKA NOODLES AT CMP 0.140-0.145 TARGET 0.150 0.160 SL 0.130

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