Monthly Archives: April 2016

29Apr
gold-bars

Comex Trading Signals and Market News – 29 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices rose by 0.64 per cent on Thursday after housing starts in Japan rose unexpectedly in the last quarter signaling improving housing market in the region which raised the demand for the fuel.In a report Ministry of Land Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 8.4 per cent from 7.8 percent in the preceding quarter.
  • Gold prices gained 0.18 per cent on Thursday after the Bank of Japan surprised markets by keeping monetary policy steady. The BoJ held monetary policy steady quashing speculation that it would ramp up its already extensive easing program. At the MCX Gold futures for June 2016 contract is trading at Rs 29435 per 10 gram up by 0.18 per cent after opening at Rs 29350 against the previous closing price of Rs 29383. It touched the intra-day high of Rs 29480.
  • Silver futures rose by 1.20 per cent on Wednesday afternoon market at the Multi Commodity Exchange (MCX) due to firm global trend. At the MCX Silver futures for May 2016 contract is trading at Rs. 40671 per Kg up by 1.20 per cent after opening at Rs. 40350. It touched the intra-day high of Rs. 40899.Mexico is the largest producer of silver whereas major consumers are USA India and Canada.

ECONOMY NEWS :

  • Japan’s unemployment rate dropped to 3.2 percent in March from 3.2 percent in prior month, the Ministry of Communications and Internal Affairs said Thursday. The number of unemployed people fell to 2.11 million in March from 2.16 million a month earlier. A year ago, the jobless figure totaled 2.22 million.
  • The MNI India Business Sentiment Survey for April showed that business confidence fell for the second consecutive month, albeit marginally, as firms’ financial position deteriorated. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell to 62.4 in April from 62.7 in March. The decrease in sentiment this month was led by construction and service sector firms while sentiment among manufacturing companies increased.
  • South Korea has increased its planned spending for this year, the finance ministry said on Thursday, in its latest bid to jump-start the economy and pre-emptively address risks to growth.At the same time, the country’s central bank will keep monetary policy “flexible” to support economic activity and maintain financial stability, the finance ministry said in a statement.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1258.8 TARGET 1263.8 1269.8 SL BELOW 1253.8
  • SELL GOLD BELOW 1253.8 TARGET 1248.8 1242.8 SL ABOVE 1258.8

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

29Apr
Stacks of coins with the word FOREX isolated on white

IForex Market Trading Signals and News – 29 April 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Yen gains most in 5 years vs euro on BOJ surprise
  • Forex -Dollar drops against rivals after Fed decision
  • Forex-Kiwi and Aussie gain ground after RBNZ and Fed hold

EUR/USD
The Euro to dollar exchange rate managed to gain strength recently and traded higher, but EUR/USD is currently facing a major resistance.The US Dollar buyers did not like the fed outcome and that is the reason why there was a minor decline in the greenback. The Euro climbed higher and broke the 200 simple moving average on the 4-hours chart.Earlier today, the German Unemployment Change report was released by the German Statistics Office. The forecast was slated for no change in April 2016, but as per the report, the German Unemployment Change came in at -16K. The report added that “According to provisional results of the employment accounts, the number of persons in employment increased by 150,000, or 0.3%, from February to March 2016, one of the reasons being the spring upturn. The increase on February was higher than the relevant average of the past five years (124,000 people)”.

GBP/USD
The GBP/USD pair advanced modestly after the London opening, spiking up to 1.4617, but is still unable to firmly settle above the 1.4600 mark, and once again retreated. The dollar is generally lower across the board, as BOJ’s inaction during Asian trading hours, fueled demand of the JPY, and put the USD under selling pressure.From a technical point of view, the 4 hours chart shows that the price has managed to bounce from a bullish 20 SMA tested earlier today, and currently at 1.4535. The technical indicators hold above their mid-lines but lack directional strength, reflecting the absence of volume in the ongoing session. the pair can rally up to the 1.4680/1.4700 region, whilst some steady gains beyond this last expose the 1.4770 price zone for the upcoming sessions.Declines towards the 1.4530/40 region should be seen as buying opportunities, with the next intraday low and a line in the sand for today, at 1.4290.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4638 TARGET 1.4658 1.4688 SL BELOW 1.4608
  • SELL GBP/USD BELOW 1.4544 TARGET 1.4524 1.4494 SL ABOVE 1.4574

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

29Apr
klse

Financial Klse Malaysia Stock Market Trading Picks And News – 29 April 2016

MARKET UPDATES :

  • The FBM KLCI index lost 17.58 points or 1.04% on Thursday. The Finance Index fell 0.31% to 14636.28 points, the Properties Index dropped 0.08% to 1170.86 points and the Plantation Index rose 0.13% to 7712.9 points. The market traded within a range of 24.52 points between an intra-day high of 1695.73 and a low of 1671.21 during the session.
  • Actively traded stocks include SGB-PA, SKPETRO, SONA-WA, AAX-WA, AAX, VIVOCOM, HHHCORP, HSI-HW, EKA and TENAGA. Trading volume increased to 1782.36 mil shares worth RM2311.41 mil as compared to Wednesday’s 1728.09 mil shares worth RM1868.70 mil.
  • Leading Movers were BAT (+440 sen to RM47.70), SKPETRO (+13 sen to RM1.64), AXIATA (+24 sen to RM5.56), MAXIS (+13 sen to RM5.62) and CIMB (+10 sen to RM4.74). Lagging Movers were HLFG (-18 sen to RM15.18), PPB (-12 sen to RM16.24), AMMB (-3 sen to RM4.54), RHBCAP (-3 sen to RM6.10) and HLBANK (-6 sen to RM13.54). Market breadth was negative with 274 gainers as compared to 570 losers.
  • The KLCI extended its midday losses and closed lower at 1674.76 points amid overnight mixed performance in Wall Street after the Federal Reserve signalled it was in no hurry to change policy.

STOCK RECOMMENDATION :

  • BUY HIAPTEK[S] ABOVE 0.495 TGT 0.515 0.530 SL 0.470

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

28Apr
MYR

Ringgit opens higher against US$ and other major currencies

KUALA LUMPUR:

  • The ringgit extended yesterday’s gains to open higher against the US dollar thursday morning as demand emerged for Asian currencies, including the ringgit, dealers said.
  • At 9 am(0100gmt), the local note stood at 3.8950/9030 against the US dollar from 3.9110/9180 on Wednesday.
  • Against other major currencies, the ringgit was also traded higher.
  • It strengthened against the Singapore dollar to 2.8871/8952 from Wednesday’s 2.8975/9037 and appreciated against the yen to 3.4851/4939 from 3.5171/5237 previously.
  • It advanced against the euro to 4.4037/4143 from 4.4273/4367 and went up against the British pound to 5.6587/6714 from 5.7054/7171 on Wednesday.

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

28Apr
BURSA

Nikkei plunges 3.6% after BOJ inaction stuns investors

TOKYO :

  • Japanese stocks gave up early gains and took a u-turn that wiped out much of the previous week’s four-day rally in a single afternoon after the Bank of Japan disappointed investors by holding off on expanding monetary stimulus.
  • The Nikkei share average shed 3.6 percent to end the day at 16,666.05, resulting in a 5.1 percent decline for the shortened trading week, with the market closed for a national holiday on Friday.
  • The yen soared against the dollar and the euro after the BOJ’s announcement, adding to the discomfort of Japanese exporters.
  • “The market had clearly worked itself into a frenzy of expectations demanding that the BOJ take action, and in retrospect that looks like a misguided view that failed to recognise the dilemma that recent economic dynamics have presented for the BOJ,” said Stefan Worrall, director of Japan equity sales at Credit Suisse.

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

28Apr
BURSA1

KLCI falls for fifth day, down nearly 18pts

KUALA LUMPUR :

  • Blue chips extended their losing streak for the fifth day on Thursday, tracking the decline in key regional markets especially Japan when the central bank held off expanding its  monetary surplus.
  • Despite the decline in the equities market, the ringgit held firm as the new Bank Negara Malaysia Governor Datuk Muhammad Ibrahim was expected to ensure the continuity of Tan Sri Dr Zeti Akhtar Aziz who retires on April 30 after her 16-year tenure.
  • At 5pm, the FBM KLCI was down 17.58 points or 1.04% to 1,674.76 and pushed the index deeper into the red with year-to-date losses of 1.05%, dragged down by losses in Axiata, BAT and Tenaga Nasional.
  • Turnover was 1.78 billion shares valued at RM2.31bil. Decliners beat advancers 570 to 274 while 332 counters were unchanged.
  • Key Asian markets were mostly lower, with Japan’s Nikkei 225 the worst hit as it tumbled 3.6% after the Bank of Japan disappointed investors decided against expanding its monetary stimulus.
  • The ringgit strengthened to 3.8970 to the US dollar from 3.9150 and it was at 5.6904 to the pound sterling from 5.7128. It slipped against the Singapore dollar to 2.9012 from 2.9011 but firmed up against the euro to 4.4258 from 4.4323.
  • At Bursa Malaysia, BAT was the top loser, down as much as RM4.40 to RM47.70 while Dutch Lady lost 34 sen but F&N gained 40 sen to RM23. Heneiken (formerly GAB) rose 20 sen to RM15.18.

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

28Apr
gold-bars

Comex Trading Signals and Market News – 28 April 2016

INTERNATIONAL COMMODITY NEWS :

  • West Texas Intermediate oil prices rallied to a five-month high in European trade on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose at a slower pace than expected last week.The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, amid expectations for a gain of 2.4 million barrels.
  • Gold futures ticked higher in European trade on Wednesday, as investors looked ahead to the Federal Reserve’s rate decision due later in the day for fresh guidance on the future path of U.S. interest rates.While the Fed is widely expected to leave interest rates unchanged at the conclusion of its policy meeting at 18:00GMT, or 2:00PM ET, Wednesday, the U.S. central bank could provide guidance on its pace of tightening over the next several months.
  • Copper prices fell by 0.70 per cent on Wednesday after Japan’s all industries activity index fell last month official data showed on Wednesday signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report Japanese Ministry of Economy Trade and Industry said that Japan’s All Industries Activity Index fell to a seasonally adjusted -1.2 per cent from 1.2 per cent in the preceding month whose figure was revised down from 2.0 per cent.

ECONOMY NEWS :

  • Euro zone finance ministers should meet on Greece within days to avoid renewed uncertainty over the country’s ability to finance itself, European Council President Donald Tusk said on Wednesday.Tusk said he spoke on the matter with Greek Prime Minister Alexis Tsipras, who on Tuesday had said he wanted a special summit of euro zone leaders to discuss Greece’s third bailout. Tusk chairs EU summits and would be responsible for calling one.
  • Any further European Central Bank monetary policy action will be entirely data-driven and something “genuinely new” would be required to revise the current stance, ECB’s governing council member Philip Lane said on Wednesday. “It’s entirely going to be data-driven, the reduction of the inflation forecasts in March was sufficiently substantial to trigger the extra measures. Let’s see what next wave of forecasts have,” Ireland’s central bank governor told a news conference.
  • China needs to create more employment to compensate for anticipated job losses as a result of supply-side reforms, President Xi Jinping was quoted as saying on Wednesday by state news agency Xinhua.Downward pressure  on China’s economy and social problems are both increasing, Xi was reported as saying during a trip to the eastern province of Anhui.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1248 TARGET 1253 1259 SL BELOW 1243
  • SELL GOLD BELOW 1242.5 TARGET 1237.5 1231.5 SL ABOVE 1247.5

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

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

IForex Market Trading Signals and News – 28 April 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Sterling pares back gains as U.K. first quarter growth slows
  • Forex -Dollar lower as central bank meetings eyed
  • Forex-Aussie plunges, Fed eyed for dollar direction

EUR/USD
EUR/USD posted moderate gains in a cautious session, as investors continued to await the Federal Reserve’s latest monetary policy decision in intraday trading on Wednesday afternoon.The currency pair traded between 1.1256 and 1.1339, before settling at 1.1298, up 0.0032 or 0.28% on the session. Following a brief four-day losing streak last week, the euro has closed higher against the dollar in each of the last two trading days. Despite the slight gains, the euro has still closed below 1.13 against the dollar in the last six sessions. Nevertheless, the euro is still up against its American counterpart by 1% over the last month, amid dovish indications from the Fed of a delayed interest rate hike.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
The pound pared back early gains against the dollar on Wednesday after data showing that U.K. economic growth slowed in the first three months of the year. GBP/USD was last at 1.4573, off earlier highs of 1.4619. Sterling was also little changed against the euro, with EUR/GBP at 0.7750 off earlier highs of 0.7784. The U.K. economy grew 0.4% in the three months to March the Office of National Statistics said, in line with economists’ expectations, but slowing from 0.6% in the prior quarter.The service sector was the only part of the economy to grow in the first quarter, the data showed, with manufacturing, construction and agriculture all contracting. Service sector output grew by 0.6%, industrial production fell by 0.4% and construction contracted by 0.9%.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4640 TARGET 1.4660 1.4690 SL BELOW 1.4630
  • SELL GBP/USD BELOW 1.4566 TARGET 1.4546 1.4516 SL ABOVE 1.4596

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

28Apr
klse

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

MARKET UPDATES :

  • The FBM KLCI index lost 0.16 points or 0.01% on Wednesday. The Finance Index fell 0.13% to 14682.46 points, the Properties Index up 0.37% to 1171.79 points and the Plantation Index rose 0.10% to 7703.11 points. The market traded within a range of 12.43 points between an intra-day high of 1694.91 and a low of 1682.48 during the session.
  • Actively traded stocks include SGB-PA, AAX, AAX-WA, AIRASIA, SONA-WA, VIVOCOM, SGB, BORNOIL-WC, AWC and BORNOIL. Trading volume decreased to 1728.09 mil shares worth RM1868.70 mil as compared to Tuesday’s 2908.49 mil shares worth RM2330.64 mil.
  • Leading Movers were CIMB (+11 sen to RM4.84), WPRTS (+9 sen to RM4.24), SKPETRO (+3 sen to RM1.77), AXIATA (+8 sen to RM5.80) and SIME (+10 sen to RM7.83). Lagging Movers were BAT (-240 sen to RM52.10), DIGI (-8 sen to RM4.45), MAXIS (-10 sen to RM5.75), MISC (-14 sen to RM8.59) and RHBCAP (-7 sen to RM6.07). Market breadth was positive with 407 gainers as compared to 379 losers.
  • The KLCI extended its losing streak for the third day after closing lower at 1692.34 points amid overnight mixed performance in US market. Our benchmark index was dragged down by losses in heavyweight counters such as Digi and Maxis.

STOCK RECOMMENDATION :

  • BUY AIRASIA ABOVE 2.020 TGT 2.100 2.160 SL 1.920

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

 

27Apr
MYR

KLSE : Ringgit rebounds to open higher against US dollar

KUALA LUMPUR :

  • The ringgit rebounded to open higher against the US dollar, after Tuesday’s losses, on renewed buying interest for emerging currencies, including the ringgit, dealers said.
  • At 9.05 am, the local note stood at 3.9100/9160 against the US dollar from 3.9200/9330 on Tuesday.
  • Against other major currencies, the ringgit was traded mostly higher.
  • The ringgit strengthened against the Singapore dollar to 2.8982/9038 from Tuesday’s 2.8994/9077 and appreciated against the yen to 3.5165/5235 from 3.5360/5463 yesterday.
  • It advanced against the euro to 4.4195/4278 from 4.4261/4389 but weakened against the British pound to 5.7020/7119 from 5.7017/7276 on Tuesday.

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

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