Comex Signals

22Mar
comex

Comex Trading Signals and Market News – 22 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Silver futures retreated during noon trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking weakness in the bullion internationally as a slightly stronger dollar curbed the lure for silver as an alternative asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming bullion demand.
  • Gold futures were lower in European trade on Monday, falling for the second straight session as the U.S. dollar recovered from losses suffered in wake of the Federal Reserve’s dovish statement.The dollar continued to recover from five-month lows as investors closed out bearish bets following an aggressive selloff late last week.
  • Oil prices slid for a second day on Monday, under pressure from signs that some of the nimbler U.S. producers increased drilling last week and from uncertainty surrounding a meeting of the world’s major exporters next month to discuss freezing output.U.S. energy firms last week added one oil rig after 12 weeks of cuts, according to data from industry firm Baker Hughes.

ECONOMY NEWS :

  • China has many policy tools at its disposal to fend off financial risks and will improve its communication with markets, Premier Li Keqiang said on Monday.Li told the visiting International Monetary Fund Managing Director Christine Lagarde that China will not rely on yuan depreciation to spur exports.
  • China agreed on Monday to consider building a railway into Nepal and to start a feasibility study for a free trade agreement with the impoverished, landlocked country, which has been trying to lessen its dependence on its big neighbour to the south, India.The Himalayan nation, that serves as a natural buffer between China and India, adopted its first post-monarchy constitution in September hoping this would usher in peace and stability after years of conflict.
  • U.S. inflation is likely to accelerate in coming years and move toward the Federal Reserve’s 2 percent target, Richmond Fed President Jeffrey Lacker said on Monday, flagging upside risks to price growth.Inflation has been unusually sluggish since the 2007-2009 recession.The Fed has kept interest rates low in part to foster faster price gains and said last week it was likely to raise interest rates more slowly than policymakers had expected in December.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1250 TARGET 1270 1300 SL 1220
  • 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.

21Mar
gold-bars

Comex Trading Signals and Market News – 21 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Natural Gas prices extended gain over 1 per cent on Friday at the Multi Commodity Exchange (MCX) as traders widened their position tracking a rally in the energy commodity internationally as forecasts for cooler weather across the eastern parts of the US next week raised hopes of a pickup in gas-fired heating demand in the world’s biggest fuel consuming nation.
  • U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.U.S. crude (CLc1) was up 3 cents at $40.23 barrel at 0653 GMT, after rising to as much as $40.55 – higher than the previous peak of $40.36 reached on Thursday.
  • Gold slid lower in European morning hours on Friday, but remained within close distance of a one-year high as sentiment on the U.S. dollar remained vulnerable after the Federal Reserve’s most recent policy statement. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were down 0.43% at $1,259.60.

ECONOMY NEWS :

  • The Philippines’ financial system is facing a risk because of the $81 million that was stolen by hackers from the New York Fed account of Bangladesh’s central bank and then transferred to Manila, the country’s central bank governor said on Friday.”If you look at the behavior of the financial markets over the last several days there has been no indication that there is a negative impact. But we have to recognize there is a risk,” Amando Tetangco told reporters.
  • The European Central Bank can cut interest rates again if the euro zone’s economy fails to pick up and, under extreme circumstances, it might even consider printing money and giving it out directly to people, its chief economist said in a newspaper interview published on Friday.The ECB upset investors last week when its president, Mario Draghi, said he did not expect further rate cuts, raising questions about his pledge in 2012 to do “whatever it takes” to save the euro.
  • An international review by creditors of Greece’s reform program is advancing and it could be wrapped up by May 1, the head of the European Stability Mechanism (ESM) rescue fund told the Swiss newspaper Neue Zuercher Zeitung.”There is progress but it is too early to say when exactly the review will conclude,” Klaus Regling was quoted as saying in an interview, adding that the ESM assumed Greece would need “significantly less” than the 86 billion euros ($97 billion)being discussed for a third assistance program.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1265 TARGET 1270 1280 SL 1253
  • SELL GOLD BELOW 1248 TARGET 1243 1233 SL 1255

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

18Mar
comex1

Comex Trading Signals and Market News – 18 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Copper prices fell by 0.13 per cent on Wednesday after the US retail sales fell less than expected in February but a sharp downward revision to January’s data could reignite concerns about the economy’s growth prospects which reduced the demand outlook for the metal. Retail sales dipped 0.1 percent last month as automobile purchases fell and cheaper gasoline undercut receipts at service stations.
  • Oil rose above $41 a barrel on Thursday, trading close to a 2016 high, bolstered by a plan among some of the world’s biggest producers to meet next month to discuss supporting the market.OPEC and non-OPEC producers including the top two exporters, Saudi Arabia and Russia, will meet on April 17 in Qatar over a plan to freeze output, increasing the likelihood of the first global supply deal in 15 years.
  • Gold futures held on to strong overnight gains in European trade on Thursday, after the Federal Reserve kept    interest rates unchanged and indicated just two more rate hikes this year instead of the four expected. Gold for April delivery on the Comex division of the New York Mercantile Exchange jumped $37.00, or  3.01%, to trade at $1,266.80 a troy ounce by 08:05GMT, or 4:05AM ET.

ECONOMY NEWS :

  • Bank of Japan Governor Haruhiko Kuroda said on Thursday that inflation had slowed temporarily due to declines in oil prices but that the overall price trend was improving excluding oil.Kuroda, speaking in the upper house budget committee, also said the BOJ was still only about halfway towards meeting its 2 percent price target.
  • Federal Reserve policymakers urging caution over interest rate hikes have gained the upper hand in the central bank’s internal debate, but the risk for the U.S. economy is that they are wrong to downplay a recent rise in inflation. In words that echo those of colleagues on the Fed’s dovish wing, Fed Chair Janet Yellen told a news conference on Wednesday that “caution is appropriate” when it comes to raising interest rates. She said she was not convinced underlying inflation had accelerated.
  • Declines in China’s foreign trade will ease after March, though trade conditions are expected to be more severe this year than in 2015, a spokesman at the Commerce Ministry said on Wednesday, “There is increasing growth momentum in foreign trade,” Shen Danyang told reporters in Beijing. “We expect declines in trade will gradually ease after March.”

TRADING STRATEGY :

  • BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1264
  • SELL GOLD BELOW 1263 TARGET 1258 1252 SL 1269

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

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.

16Mar
gold-bars

Comex Trading Signals and Market News – 16 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Silver futures retreated during noon trade in the domestic market on Tuesday as investors and speculators stuck to a cautious stance ahead of the start of the two-day US Federal Reserve monetary policy meet in which the world’s top central bank may offer some cues over the path to raising interest rates further following a maiden rise in borrowing costs since 2006 in December.
  • Copper futures prices slipped by 0.34 per cent on Tuesday at the Multi Commodity Exchange (MCX) as traders trimmed their bets amid subdued demand from consuming industries at the spot market. The weak cues from global markets also weighed on market sentiments.
  • Crude oil prices dropped by 0.84 per cent on Tuesday ahead of industry estimates of US stockpiles and continued back-and-forth over prospects for an output freeze by key producers. Ahead the American Petroleum Institute will detail estimates of crude oil and refined product stockpiles as of last week. On Wednesday more closely-watched figures from the US Department of Energy are due.

ECONOMY NEWS :

  • China’s central bank is studying the introduction of a tax on currency transactions in an effort to curb speculation in the foreign exchange markets, Bloomberg reported on Tuesday citing unnamed sources. The rate of the so-called Tobin tax could be kept at zero initially while the new rule awaits central government approval, Bloomberg reported.
  • Indonesia’s growth rate will modestly accelerate in 2016 after slowing for several years amid higher public investment spending and improved sentiment towards reforms in Southeast Asia’s largest economy, the International Monetary Fund said on Monday.In its annual policy review, the IMF forecast Indonesia’s 2016 real gross domestic product growth at 4.9 percent, up from 4.7 percent in 2015 and 5.0 percent in 2014.
  • Australia’s Prime Minister Malcolm Turnbull said on Tuesday his government will this week introduce legislation to stimulate greater investment in startups – as Australia looks to transition its economy away from a slowing mining sector.Australia has proposed amended tax laws that would allow retail investors a 20 percent income tax rebate, capped at $200,000 per year on any startup investments, while a 10 percent tax rebate for venture capital investors in established start-ups wishing to expand will also be permitted.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1250 TARGET 1255 1261 SL 1244
  • SELL GOLD BELOW 1230 TARGET 1225 1219 SL 1236

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

15Mar
comex1

Comex Trading Signals and Market News – 15 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Natural Gas futures fell during noon trade in the domestic market on Monday as investors and speculators exited positions in the energy commodity as forecasts for warmer weather across the US for the remainder of March threatened to curb heating demand for the fuel in the world’s biggest fuel consuming nation.
  • Silver futures advanced in the domestic market during noon trade on Monday as investors and speculators booked fresh positions in the precious metal amid speculation that the US Federal Reserve which meets this week may sing a more cautious tune over further interest rate hikes in the world’s biggest economy bolstering the lure for the bullion as a store of value.
  • Gold futures struggled for direction in European trade on Monday, flipping between small gains and losses as investors looked ahead to central bank meetings in Japan and the U.S. later this week for further clues on monetary policy.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $3.70, or 0.29%, to trade at $1,255.70 a troy ounce by 07:45GMT, or 3:45AM ET.

ECONOMY NEWS :

  • The Bank of Japan is unlikely to ease policy further for the moment as it gauges the impact of its surprise adoption of a negative interest rate, a move that roiled markets, a key economic adviser to Prime Minister Shinzo Abe said on Monday.Given a variety of changing external factors, “I think the BOJ wouldn’t take further action right now,” Koichi Hamada, special adviser to the Cabinet, told Reuters in an interview. “Probably it will be a wise decision.”
  • India’s retail inflation is expected to have eased in February helped by falls in prices of some food items, after edging up for six straight months, raising expectations of a central bank rate cut next month.Analysts say Raghuram Rajan, Governor of the Reserve Bank of India, could soften monetary stance after Finance Minister Arun Jaitley stuck to a fiscal deficit target of 3.5 percent of GDP for next fiscal year in his third budget last month.
  • Alarm that parts of China’s housing market are overheating, raised at the ongoing annual parliament meeting, highlights concern about unregulated, online-based financing that can fuel a property bubble. Officials vowed to crack down on players in the property business illegally lending home-buyers the money to make downpayments.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1260 TARGET 1265 1271 SL 1254
  • SELL GOLD BELOW 1250 TARGET 1245 1239 SL 1256

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

14Mar
comex

Comex Trading Signals and Market News – 14 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Natural Gas futures rose handsomely during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity amid speculation that lower prices of the fuel which has witnessed a bearish ride off late may encourage low production and boost demand.
  • Oil prices jumped on Friday supported by fresh investment and a weaker dollar, which makes fuel cheaper for importers using other currencies, but analysts warned that a stronger price rally was premature as a global glut remained in place.U.S. crude futures (CLc1) were trading at $38.64 a barrel at 0749 GMT, up 80 cents and over 2 percent from their last close.
  • Gold held steady at a 13-month high in European morning hours on Friday, as increased safe-haven demand following the announcement of fresh stimulus measures by the European Central Bank continued to support the precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were little changed at $1,272.10.

ECONOMY NEWS :

  • Japanese banks have expressed concern that the Bank of Japan’s negative interest rate policy is hurting their earnings, which could lead them to charge higher fees on corporate accounts, according to a presentation by the Cabinet Office.However, companies welcomed negative rates because these have lowered borrowing costs, and some companies even say they plan to increase their capital expenditure, the presentation on Friday showed.
  • Germany’s wholesale prices dropped 1.9 percent year-on-year versus 1 percent decrease in January, Destatis said Friday. The index has been falling since July 2013. It was the biggest decline since February 2015. A sharp 15.1 percent decrease in solid fuels and related product prices contributed to the annual fall in February. On a monthly basis, wholesale prices slid 0.5 percent in February, slightly faster than January’s 0.4 percent drop.
  • Britain’s economic growth rate would be higher if its official statistics properly reflected the explosive growth in online activity, former Bank of England Deputy Governor Charlie Bean, who is leading a review into British statistics, said. If the digital economy was fully captured in economic statistics it could add between one third and two thirds of a percent to the growth rate of the British economy, a report drawn up by Bean and published on Friday said.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1270 TARGET 1275 1281 SL 1265
  • SELL GOLD BELOW 1263 TARGET 1258 1252 SL 1268

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

11Mar
gold-bars

Comex Trading Signals and Market News – 11 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices slid on Thursday after U.S. crude hit 2016 highs the day before and Brent shot back over $40 per barrel. But analysts warned that larger gains would be unlikely as a global glut continues to outweigh strong demand. Prices rose as much as 5% on Wednesday, as a big gasoline inventory drawdown overshadowed record-high crude stockpiles. But analysts warned that a global crude production overhang of over 1 million barrels per day showed few signs of abating.
  • Copper futures prices slipped by 0.63 per cent on Thursday at the Multi Commodity Exchange (MCX) as participants trimmed their bets as rise in Chinese consumer inflation dented hopes of further monetary policy easing in the economy of the world’s biggest metals consuming nation clouding demand prospects.
  • Silver futures fell during noon trade in the domestic market on Thursday tracking weakness in the precious metal internationally as a rally in most Asian equities and higher oil prices eroded investment appeal while a stronger dollar curbed the lure for Silver as an alternative asset.Stronger greenback makes silver more expensive for those holding other currencies thus dimming demand.

ECONOMY NEWS :

  • Mexico’s central bank is pleased with the results of its surprise interest rate hike and new currency intervention policy and is prepared to act again “if necessary,” central bank Governor Agustin Carstens said on Thursday. Speaking at an annual banking conference in Acapulco, Carstens said the bank carefully thought through its bevy of actions on Feb. 17, when the Finance Ministry also announced budget cuts.
  • Japanese Finance Minister Taro Aso said on Friday he hoped the Bank of Japan would continue its efforts to achieve its 2 percent price target, while suggesting that specific monetary policy steps were up to the central bank to decide. The adoption of negative interest rates by the BOJ is already having an impact such as bringing down housing loan rates, Aso told reporters after a cabinet meeting.
  • U.S.-based stock funds attracted $4.6 billion in new cash during the week ended March 9, Lipper data showed on Thursday, breaking a nine-week streak of outflows.Taxable bond funds in the United States attracted $5.8 billion in new cash during the same weekly period, their seventh straight week adding new cash, the Lipper data showed.

TRADING STRATEGY :

  • BUY GOLD APR ABOVE 1263 TARGET 1268 1274 SL 1258
  • SELL GOLD APR BELOW 1254 TARGET 1249 1243 SL 1259

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

10Mar
gold-bars

Comex Trading Signals and Market News – 10 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices struggled for direction in choppy trade during European morning hours on Wednesday, as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products to gauge the strength of demand in the world’s largest oil consumer.
  • Gold futures were lower in European trade on Wednesday, as the dollar strengthened against the euro amid expectations the European Central Bank will almost certainly ease monetary policy this week. The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.2% to 97.36 during European morning hours, bouncing off the prior session’s more than two-week low of 96.88.
  • Natural Gas futures retreated in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity as forecasts for warmer weather across the US in the coming days threatened to curtail the demand for the heating fuel.

ECONOMY NEWS :

  • The German economy will grow at a slightly slower pace this year and next compared to 2015, the German banking association (BdB) said on Wednesday, citing a slowdown in China and other emerging markets as well as low oil prices as risk factors.The BdB said it expects Europe’s largest economy to grow by 1.6 percent this year and 1.5 percent in 2017, down from 1.7 percent last year.
  • The Bank of Japan is set to hold off cutting interest rates at next week’s rate review, sources say, as it scrambles to soothe market jitters caused by January’s surprise decision to adopt negative interest rates.Markets are rife with speculation the BOJ will expand monetary stimulus in coming months to reflate a stagnant economy, after January’s move failed to boost stock prices or arrest an unwelcome rise in the yen.
  • Assets of China’s sovereign wealth fund are not included in the country’s foreign exchange reserves and do not impact China’s reserves, China’s FX regulator said on Wednesday.China has ample FX reserves, the State Administration of Foreign Exchange said on its official microblog.

TRADING STRATEGY :

  • BUY GOLD APR ABOVE 1263 TARGET 1268 1274 SL 1258
  • SELL GOLD APR BELOW 1254 TARGET 1249 1243 SL 1259

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

9Mar
gold-bars

Comex Trading Signals and Market News – 09 March 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures were trading higher during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal amid hopes that the European Central Bank (ECB) will unleash further monetary easing measures to prop up the Euro area economic recovery when it meets this Thursday a move which could boost gold a hedge against the inflationary risk of monetary stimulus.
  • Copper futures fell during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal after a sharp fall in China’s exports and imports in the month of February signaled concerns over the economic outlook for the world’s biggest metals consuming nation clouding the demand outlook for copper.
  • Oil prices were lower on Tuesday, pulling back from the prior session’s three-month highs as risk appetite waned after the latest trade figures out of China added to concerns over the health of the world’s second-biggest economy. Exports plunged 25.4% from a year earlier in February, far worse than forecasts for a decline of 12.5% and the worst monthly performance since May 2009, while imports dropped 13.8%, compared to expectations for a fall of 10.0%.

ECONOMY NEWS :

  • Bank of England Governor Mark Carney on Tuesday backed Prime Minister David Cameron’s European Union deal ahead of a June referendum on membership, saying the agreement allowed the central bank to do its job. While Carney said he was not making any recommendation about how to vote in the June 23 referendum, he gave a positive assessment of Cameron’s EU settlement.
  • Japan’s gross domestic product was down an annualized 1.1 percent on year in the fourth quarter of 2015, the Cabinet Office said in Tuesday’s revised reading, following last month’s preliminary reading that suggested a contraction of 1.4 percent. GDP expanded 1.3 percent in the third quarter. On a quarterly basis, GDP dipped 0.3 percent – which also marked an upward revision from 0.4 percent. GDP added 0.3 percent in the three months prior.
  • China’s exports tumbled in February though the massive slide reflected the shift in the timing of Chinese New Year. Exports plummeted 25.4% year-on-year in February, the biggest fall since May 2009, the General Administration of Customs reported today. At the same time, imports also plunged by around 14%. As the decline in exports outpaced the fall in imports, the trade surplus narrowed sharply to $32.6 billion from $63.29 billion in the prior.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1276 TARGET 1281 1287 SL 1270
  • SELL GOLD BELOW 1272 TARGET 1268 1262 SL 1278

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

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