Comex Signals

7Apr
comex

Comex Trading Signals and Market News – 07 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices were trading flat on Wednesday with investors keyed to Federal Reserve remarks ahead. Investors also await a wave of public comments from key Federal Reserve policymakers including Yellen on Thursday for further signals on the pace of the Fed’s current tightening cycle.
  • Crude oil prices rose by 3.19 per cent on Wednesday after a bullish US industry group inventory estimate showed a sharp drop in stocks and an upbeat services PMI from China. The American Petroleum Institute said crude oil stock fell 4.3 million barrels at the end of last week while distillates stocks rose 2.7 million barrels and gasoline stock fell 116000 barrels.
  • Natural Gas futures fell by 3 per cent in the domestic market on Tuesday reversing Monday’s rally which was driven by hopes that a surprise cold snap may bolster the demand for the heating fuel in the US the world’s biggest gas consumer.Traders were cautious ahead of the weekly US supplies data which may offer a further insight into the state of demand for the energy commodity in the US.

ECONOMY NEWS :

  • China’s exports likely returned to growth for the first time in nine months in March while the pace of bank lending may have picked up, adding to signs that the world’s second-largest economy may be stabilizing. Chinese leaders have pledged to make monetary policy more flexible this year even as it leans more on increased fiscal spending and tax cuts to support economic growth and cushion the pain from structural reforms.
  • Conditions are in place for the Indian economy to start growing faster in the next few quarters as banks pass on its rate cuts to their borrowers, Reserve Bank of India Governor Raghuram Rajan told Bloomberg TV in an interview on Wednesday.Still, Rajan left open the prospect for more easing should inflation conditions allow it, though he added that inflation in services, education and health care had not yet eased “dramatically.”
  • A top Australian central banker on Wednesday reiterated that a wide range of information suggested inflation was likely to remain low over the next couple of years, in part due to spare capacity globally. The comments underline the message from the Reserve Bank of Australia’s (RBA) April policy meeting that the country’s low inflation would provide scope for a further cut in interest rates if needed to support the economy.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1228 TARGET 1233 1239 SL 1223
  • SELL GOLD BELOW 1223 TARGET 1218 1212 SL 1228

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

6Apr
gold-bars

Comex Trading Signals and Market News – 06 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices rose by 0.82 per cent on Tuesday as investors await clearer signals on interest rates this week. Investors in Asia await the release of China’s monthly Caixin Services PMI index in March for further indications on the health of the struggling manufacturing sector in the world’s second-largest economy.
  • Crude oil prices fell by 1.38 per cent on Tuesday as a bearish drumbeat of oversupply weighs on sentiment. Traders responded to a bearish note from BNP Paribas on the increased likelihood that oil could retest yearly lows amid signals of mounting stockpiles worldwide. At the MCX crude oil futures for April 2016 contract were trading at Rs. 2367 per barrel down by 1.38 per cent after opening at Rs. 2380 against the previous closing price of Rs. 2400.
  • Natural Gas futures jumped by more than 3 per cent in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend internationally where prices rose to an eight-week high on hopes that unseasonably cold weather in parts of the US may bolster demand for the heating fuel and ease a supply glut.

ECONOMY NEWS :

  • Reserve Bank of India Governor Raghuram Rajan said on Tuesday the focus should be on how to ensure banks bring down their lending rates, rather than on debating how many rate cuts the central bank should be delivering.”It’s important not to fixate with the 25 basis point or 50 basis point (rate cut) or whatever number one thought was possible, but to focus on the process by which lower rates are being transmitted into the market which should be extremely helpful,” Rajan told analysts during a teleconference.
  • Australia’s student housing market is shaping up to be the next big thing as an influx of foreign scholars entices investors into a neglected sector, reinvigorating a home building boom that is providing vital support to the wider economy.An English-speaking country at the doorstep of Asia and offering an enviable quality of life, Australia now sits with the United States and United Kingdom as a top destination for foreign students.
  • Germany has failed to take advantage of cheap borrowing costs to boost investment that is essential to longer-term economic growth, the Organisation for Economic Cooperation and Development (OECD) said on Tuesday. In an economic survey, the Paris-based OECD also said weakness among Germany’s trading partners could weigh on consumer confidence, which is crucial to supporting the private consumption on which the economy is increasingly reliant.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
  • SELL GOLD BELOW 1228 TARGET 1223 1216 SL 1234

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

5Apr
gold-bars

Comex Trading Signals and Market News – 05 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices rose by 0.14 per cent on Monday as a weaker dollar raised the appeal of gold as an alternative asset. Weaker greenback makes the bullion cheaper for those holding other currencies thus increasing demand. At the MCX Gold futures for April 2016 contract is trading at Rs 28080 per 10 gram up by 0.14 per cent after opening at Rs 28080 against the previous closing price of Rs 28040. It touched the intra-day high of Rs 28123.
  •  Copper futures retreated during noon trade in the domestic market on Monday tracking a bearish global trend as robust US jobs data for March raised concerns that the US Federal Reserve may hike interest rates in the near-term while worries over the demand outlook from China the world’s biggest metals consuming nation remained.
  • Crude oil prices fell by 1.83 per cent on Monday as the chances of Middle East producers agreeing to curb overproduction appeared to fade while stubbornly high US output and worries about Asia’s economic outlook also dragged on prices. At the MCX crude oil futures for April 2016 contract were trading at Rs. 2418 per barrel down by 1.83 per cent after opening at Rs. 2457 against the previous closing price of Rs. 2463.

ECONOMY NEWS :

  • Foreign direct investment (FDI) in Myanmar in the fiscal year ending in March grew to nearly $9 billion, a government official said on Monday, after a rush of last-minute approvals before the handover of power to Aung San Suu Kyi’s administration.The figure, a record high, rose by about $1 billion compared with the previous fiscal year, fueled by investment in the energy, manufacturing and telecoms sectors, San Myint, an official at the Directorate of Investment and Company Administration, told Reuters.
  • Standard and Poor’s (S&P) chief sovereign ratings officer Moritz Kraemer repeated his warning that if the U.K. decided to leave the European Union (EU), known as a Brexit, in the June 23 referendum, the country’s triple-A rating would be at risk.“Given the U.K.’s deep political, financial and trading ties in Europe, an exit would be much more fraught, and the risks, when it comes to its credit worthiness, are therefore considerably higher,” Kraemer explained in an opinion piece written for Politico.
  • Greece’s bailout review must be concluded immediately, Greek Prime Minister Alexis Tsipras’ office said on Monday, as talks on the country’s fiscal progress resumed amid tension after a leaked transcript detailing IMF mooted tactics to get a deal.”The negotiation must be concluded immediately, without unrealistic demands for additional measures beyond those set out in the July bailout agreement,” Tsipras’ office said.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1218 TARGET 1223 1229 SL 1212
  • SELL GOLD BELOW 1214 TARGET 1209 1203 SL 1220

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

4Apr
comex1

Comex Trading Signals and Market News – 04 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures were trading lower during noon trade in the domestic market on Friday as investors and speculators took a cautious approach ahead of March jobs data from the US which may dictate the timing of the US Federal Reserve’s next interest rate hike.The US economy may have added 205000 jobs in March down from 242000 in February analysts estimated.
  • Gold prices rose by 0.15 per cent on Friday ahead of a closely-watched US employment report for the month of March. The second quarter will kick off with March’s critical US jobs report which could provide key insight into the Federal Open Market Committee’s (FOMC) decision-making process when it meets next in late-April.
  • Crude oil prices fell by 1.52 per cent on Friday as investors brushed off manufacturing PMI surveys out of China for signals on demand and waited rig count data from the US services firm Baker Hughes. The Caixin manufacturing PMI for March came in at 49.7 compared with a level of 48.2 seen and 48.0 for the final in February. A level below 50 denotes contraction.

ECONOMY NEWS :

  • Bank of Japan’s (BOJ) new board member, Makoto Sakurai, on Friday flagged strong support for Governor Haruhiko Kuroda’s aggressive monetary easing and argued the case for bold policy measures to tackle deflationary challenges. But he also said the central bank should not expand stimulus recklessly to quicken the timing for achieving its 2 percent inflation target, indicating that there was no pressing need for immediate measures.
  • Investors ended a tough first quarter on a cautious footing, pulling cash out of equity, fixed income and money market funds in the final week, Bank of America Merrill Lynch (NYSE:BAC) said on Friday. The main beneficiaries in the week to March 30 were a range fixed income funds – investment-grade, emerging markets and inflation-protected bonds – but that was outweighed by a sizeable outflow from Treasury and government debt funds.
  • India hopes to receive one of the first loans issued by the China-led Asian Infrastructure Investment Bank (AIIB) later this year, as it looks to raise $500 million for solar power projects from the newly created lender, Indian officials said.Funding for clean energy projects would allay fears of environmental lobbyists that the bank’s relaxed lending criteria could promote dirty fuels like coal in developing economies, like India, that are in a hurry to ramp up energy output.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1243 TARGET 1248 1254 SL BELOW 1238
  • SELL GOLD BELOW 1230 TARGET 1225 1219 SL ABOVE 1235

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

1Apr
comex

Comex Trading Signals and Market News – 01 April 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures climbed during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal after Chicago Fed President Charles Evans backed Fed Chair Janet Yellen as he expressed concerns over global volatility that could slow US growth diminishing the chances of further rate tightening in the near-term bolstering the lure for the bullion as a store of value.
  • Copper futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid uncertainty over demand from China the world’s biggest metals consuming nation.According to a Bloomberg Intelligence analysis of property data China’s non-industrial use of copper mainly construction has been overstated by nearly 15.5 million metric tons since 2011.
  • Crude oil prices fell by 1.06 per cent on Thursday with US crude hitting the lowest level in more than two weeks amid renewed worries of global oversupply after US crude inventories rose to a record high. That increase came despite seasonal refinery utilization hitting an 11-year high while a rise in the dollar index put further pressure on oil prices.

ECONOMY NEWS :

  • Aboriginal Australians demanded a halt on a A$2.1 billion ($1.6 billion) tram construction project in Sydney after excavators found 20,000 objects potentially linked to one of the country’s first conflicts between its original inhabitants and Europeans.Within months of starting work on the three-year project, a government archaeological consultant said on Thursday that excavators found the trove of stone relics in a small patch of land where a new tram station is planned.
  • India hopes to receive one of the first loans issued by the China-led Asian Infrastructure Investment Bank (AIIB) later this year, as it looks to raise $500 million for solar power projects from the newly created lender, Indian officials said.Funding for clean energy projects would allay fears of environmental lobbyists that the bank’s relaxed lending criteria could promote dirty fuels like coal in developing economies, like India, that are in a hurry to ramp up energy output.
  • Argentina’s Senate gave the green light to a landmark deal to repay creditors holding defaulted debt in the early hours of Thursday, marking the end of a 14-year legal battle that had made the country a global financial pariah. The deal, which had already been approved by the lower house of Congress, is the cornerstone of new President Mauricio Macri’s plan for revitalizing an economy hobbled by low investment, high inflation and precarious central bank reserves.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1237 TARGET 1242 1248 SL BELOW 1232
  • SELL GOLD BELOW 1231 TARGET 1226 1220 SL ABOVE 1236

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

31Mar
comex1

Comex Trading Signals and Market News – 31 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold prices were trading on a flat note on Wednesday in the midst of Fed Chair Janet Yellen’s signal of taking a cautious approach to raising US borrowing costs further dented the safe have appeal for the yellow metal. Yellen called for a slower pace of US interest rate tightening as she stressed that the rate of inflation in the US hasn’t yet proven to be sustainable in the wake of rising global risks that could slow growth in the American economy bolstering risk taking appetite.
  • Copper futures fell during noon trade in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the domestic spot market. Further fears of weak demand from China the world’s biggest metals consumer after the country’s biggest cities including Shanghai and Shenzhen introduced property curbs weighed on the industrial metal.
  • Crude oil prices rose by 0.39 per cent on Wednesday buoyed by a forecast for a less than expected build in crude oil stockpiles last week. The EIA is due to release official crude inventory data later on Wednesday. US crude stocks rose last week by 2.6 million barrels to 534.4 million barrels data from industry group the American Petroleum Institute showed on Tuesday.

ECONOMY NEWS :

  • Chinese President Xi Jinping said on Wednesday his country’s economy was at a new normal and shifting to a slower pace of growth than in the past.”The world economy is in the current situation going through a time of deep modifications and the situation is complicated and unstable,” he told a Czech-Chinese business forum in Prague in comments broadcast through a Czech interpreter.
  • Japanese lending rates hit a record low in February, the first month in which the central bank’s negative interest rate policy was applied, offering signs of hope for the ailing economy but underscoring the hit to commercial banks’ profit margins.The average lending rate for the balance of loans made by domestic banks stood at 1.098 percent in February, extending a record low for a fourth straight month, data released by the Bank of Japan showed on Wednesday.
  • The Asian Development Bank slashed its economic growth forecast for developing Asia this year, citing global headwinds and a weaker outlook for China.Developing Asia will expand 5.7 percent this year and in 2017, the Manila-based lender said in its latest Asian Development Outlook released on Wednesday.In its December outlook report, the ADB had forecast 2016 growth for the region at 6.0 percent. region, which groups 45 countries in the Asia Pacific, grew 5.9 percent last year.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1244 TARGET 1249 1255 SL BELOW 1239
  • SELL GOLD BELOW 1234 TARGET 1229 1223 SL ABOVE 1239

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

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.

29Mar
gold-bars

Comex Trading Signals and Market News – 29 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices rose in holiday-thinned European trade on Monday, amid indications U.S. shale oil producers are cutting back on drilling activity. Crude oil for May delivery on the New York Mercantile Exchange tacked on 64 cents, or 1.62%, to trade at $40.10 a barrel.
  • Gold futures extended losses from last week in holiday-thinned European trade on Monday, falling to a five-week low amid speculation the Federal Reserve could give serious consideration to a rate hike at its April meeting, boosting the U.S. dollar.
  • Crude oil posted early gains in Asia with a key meeting on a proposal to freeze output by major producers looming next month. On the New York Mercantile Exchange, crude oil for delivery rose 0.81% to $39.77 a barrel. In the week ahead, oil traders will be focusing on U.S. stockpile data on Tuesday and Wednesday for fresh supply and -demand signals.

ECONOMY NEWS :

  • Japan’s parliament is set to approve 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.
  • California Governor Jerry Brown announced a deal with legislative and labor leaders on Monday to raise the minimum wage to $15 an hour by 2023, saying the nation’s most-populous state would lead the way toward higher pay for the working poor.
  • Former Brazilian President Luiz Inacio Lula da Silva urged a return to pro-growth economic policies like tax breaks and more consumer credit on Monday, doubling down on a strategy that has strained public accounts in recent years.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1219 TARGET 1224 1230 SL BELOW 1214
  • SELL GOLD BELOW 1212 TARGET 1207 1201 SL ABOVE 1217

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

 

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.

23Mar
comex

Comex Trading Signals and Market News – 23 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Natural Gas futures plunged by more than 3 per cent in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking weakness in the fuel overseas as forecasts for late winter cold across the eastern parts of the US failed to live up to expectations dimming the demand for gas-fired heating at offices and homes.
  • Copper prices fell by 0.27 per cent on Tuesday as speculators cut down their bets after select base metals weakened in global markets.Market analysts said most base metals retreated at the London Metal Exchange (LME) as the prospect of acceleration in US rate hikes supported the dollar dampening demand for metals and other commodities put weighed on copper futures.
  • Gold prices rose by 0.16 per cent on Tuesday as markets weighed fresh comments from Fed policymakers on the track for rate hikes in 2016. Atlanta Fed President Dennis Lockhart said that despite risks to the downside that have arisen since the beginning of the year the US economy continues to grow about as he expected. Gold futures for April 2016 contract at MCX were trading at Rs. 28987 per 10 grams up by 0.16 per cent after opening at Rs. 28961 against the previous closing price of Rs. 28941.

ECONOMY NEWS :

  • China is studying a Tobin tax as a possible policy tool to curb capital outflows, an official at the country’s foreign exchange regulator said on Tuesday, even though he added that such flows have eased in recent months.Wang Yungui, head of the policy and regulation department at China’s State Administration of Foreign Exchange (SAFE), did not mention a time frame or other details about when such a tax might be rolled out in the world’s second largest economy.
  • Japan’s lower house of parliament gave its approval on Tuesday for academic and reflationist Makoto Sakurai to join the Bank of Japan’s divided policy board, a move seen as tipping the balance more in favor of Governor Haruhiko Kuroda’s push for radical stimulus.Sakurai, a think tank executive, would replace Sayuri Shirai, a former International Monetary Fund economist who voted against the BOJ’s decision in January to adopt negative interest rates. Shirai’s five-year term ends on March 31.
  • The growth outlook for ASEAN economies is likely to be mixed in the next two years, with domestically focused economies such as Indonesia and the Philippines on relatively better footing than their more trade-reliant neighbors, Moody’s Investor Service said on Tuesday.The cautious view from the ratings agency is a warning sign for global policymakers who are relying on emerging economies, particularly in Asia, to drive global growth in the coming years.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1255 TARGET 1275 1305 SL 1225
  • SELL GOLD BELOW 1240 TARGET 1220 1190 SL 1270

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

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