Comex Signals

22Feb
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Comex Trading Signals and Market News – 22 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Silver futures were trading unchanged in the domestic market during noon trade on Friday as investors and speculators shied away from booking fresh positions in the precious metal amidst a tepid global trend even as a weaker dollar supported the lure for the bullion as an alternative asset.Caution ahead of January US consumer inflation data which may offer some cues over the pace of US monetary tightening also weighed on sentiment.
  • Natural Gas futures fell over 3 per cent in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as warmer than average temperatures across parts of the US curbed the demand for the heating fuel in the world’s biggest gas consuming nation overshadowing a big storage withdrawal.
  • Gold was little changed in European morning hours on Friday, but it still remained supported as concerns over declining oil prices persisted and as investors remained cautious ahead of U.S. inflation data due later in the day. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were down 0.20% at $1,223.90.

ECONOMY NEWS :

  • National Australia Bank NAB.AX said on Friday that chief financial officer Craig Drummond has resigned after just about 2-1/2 years in the role.NAB has promoted Gary Lennon, executive general manager finance, as new chief financial officer to replace Drummond who played a key role in helping NAB exit its underperforming and low returning assets in the U.S. and the UK while also leading a A$5.5 billion capital raising last year.
  • Bank of England policymaker Martin Weale has said he would be surprised if Britain’s central bank took as long to hike interest rates as markets expect.Weale’s comments, in a newspaper interview published on Friday, add to signs of unease among BoE policymakers about markets pricing in an interest rate hike only by mid-2019, a view described as unwarranted by Deputy Governor Jon Cunliffe a day earlier.
  • Britain recorded the largest public finances surplus for any January since 2008, while retail sales growth surged at a much faster rate than expected, according to official figures published on Friday. The Office for National Statistics said the January surplus, excluding banks, rose to 11.210 billion pounds from 10.217 billion pounds a year earlier. Still, the surplus was some way short of 12.65 billion pound forecast in a Reuters poll.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1225 TARGET 1245 12275SL 1195
  • SELL GOLD BELOW 1220 TAGRET 1200 1170 SL 1250

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

18Feb
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Comex Trading Signals and Market News – 18 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold futures edged lower in Europe trade on Wednesday, but held above the $1,200-level as market players looked ahead to minutes of the Federal Reserve’s January policy meeting for fresh indications on whether the U.S. central bank will raise interest rates at all this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange shed $2.90, or 0.24%, to trade at $1,205.30 by 08:55GMT, or 3:55AM ET.
  • Oil prices extended losses from the prior session in Europe trade on Wednesday, as OPEC members travel to Tehran in an attempt to convince Iran to join an oil production freeze deal.Venezuelan Oil Minister Eulogio Del Pino and Iraqi Oil Minister Adel Abdel Mahdi were to travel to Tehran for talks with their Iranian counterpart Bijan Zanganeh scheduled for 10:30GMT, or 5:30AM ET, in a bid to reach a deal to restrain output and prop up sagging prices.
  • Natural Gas futures were trading higher during noon trade in the domestic market on Wednesday as traders took advantage of cheaper valuations amidst the recent drop in prices of the energy commodity.The fuel has been hit by worries that warmer weather across the US in the coming weeks may curb the demand for the heating fuel in the world’s biggest gas consuming nation.

ECONOMY NEWS :

  • Chinese policymakers emerged from the Lunar New Year hiatus with one collective message for nervous investors at home and abroad – Beijing will put a floor under the slowing economy, keep its currency steady and ensure employment remains stable even as bloated industries undergo restructuring.The string of assurances comes ahead of two high-profile political events for China: a meeting of G20 finance chiefs in Shanghai later this month and next month’s annual gathering of China’s legislature – where the next five-year economic development plan will be finalised.
  • India’s top court has asked the central bank to provide the names of corporate loan defaulters with outstanding debt of at least 5 billion rupees ($73.11 million), as well as details of restructured assets.The Reserve Bank of India would need to provide the information within two months, though it could keep details under “sealed cover”, a directive from the Supreme Court said.
  • Financial markets that predicted eight of the last six recessions may be yet be wrong again, but market stress itself is now part of the calculus and leaves the world more open to left-field shocks.Given the violence of this year’s slump in equities, where more than $8 trillion has been wiped off global stock market values, it is remarkable how few economists still see recession as the most likely outcome.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1205 TARGET 1210 1216 SL 1199
  • SELL GOLD BELOW 1098 TAGRET 1093 1087 SL 1104

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

17Feb
comex

Comex Trading Signals and Market News – 17 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold futures tumbled below the $1,200-level in Europe trade on Tuesday, as safe-haven buying in the precious metal dried up amid a recovery in global equity markets.Gold for April delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,191.50 a troy ounce, before paring some losses to trade at $1,199.80 by 08:45GMT, or 3:45AM ET, down $39.60, or 3.2%.
  • Silver futures retreated during noon trade in the domestic market on Tuesday as investors and speculators shunned safe haven assets in favour of high-yielding riskier assets such as stocks as a rebound in oil prices and hopes of a global central bank stimulus boost bolstered risk taking appetite.At the MCX Silver futures for March 2016 contract is trading at Rs 36900 per kg down by 0.51 per cent after opening at Rs 36900 against the previous closing price of 37088. It touched the intra-day low of Rs 36777.
  • Copper futures soared by 1 per cent during late morning trade in the domestic market on Tuesday as a pickup in new lending in China the world’s biggest metals consumer eased worries over the country’s economic slowdown lifting the demand outlook for Copper.New loans issued by China’s banks and financial institutions jumped to 2.51 trillion Yuan in January 2016 comfortably topping estimates of 1.9 trillion Yuan and above the 597.8 billion Yuan in the previous month.

ECONOMY NEWS :

  • The European Central Bank is ready to ease policy further in March, President Mario Draghi said on Monday, highlighting risks from financial market volatility, a global slowdown in growth and low oil prices. The ECB will examine risks emanating from weaker emerging market growth and look at whether plunging crude prices along with market turbulence could derail its efforts to boost inflation, Draghi told lawmakers in the European Parliament.
  • A loophole in Australian property rules has helped overseas developers invest what industry executives believe were record levels in the country in 2015, casting doubt over the efficacy of curbs intended to keep a lid on soaring prices. Newly built properties are exempt from rules on existing homes that restrict sales to foreigners,creating an opportunity for overseas investors to get into one of the world’s fastest growing housing markets.
  • The Bank of Japan said on Tuesday negative interest rates will apply to about 23 trillion yen ($201 billion) of total reserves, based on estimates of current account deposits held with the central bank in January. About 206 trillion yen of the deposits parked in BOJ accounts by financial institutions will be paid a 0.1 percent interest, while nearly 24 trillion yen will be charged zero interest rates, according to the BOJ’s estimate.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1215 TARGET 1220 126 SL 1221
  • SELL GOLD BELOW 1208 TAGRET 1203 1197 SL 1214

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

16Feb
comex

Comex Trading Signals and Market News – 16 February 2016

 

INTERNATIONAL COMMODITY NEWS :

  • Natural gas futures plummeted by nearly 2 per cent in the domestic market on Friday crashing to the lowest level in seven weeks overseas as investors and speculators shunned the energy commodity as forecasts for above normal temperatures later in February across the US threatened to curb the demand for the heating fuel in the world’s biggest gas consuming nation.
  • Oil prices gave back some of the previous session’s strong gains on Monday, with the U.S. benchmark falling back below the $29-level amid doubts over the likelihood of a collective OPEC cut happening anytime soon. Global oil prices surged more than 12% on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, though traders remained skeptical over the potential for an agreement.
  • Gold futures fell sharply in Europe trade on Monday, as the metal’s safe-haven appeal was dampened amid a recovery in global equity markets.Gold for April delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,212.50 a troy ounce before paring some losses to trade at $1,213.30 by 08:00GMT, or 3:00AM ET, down $26.10, or 2.11%.Gold soared to a one-year high of $1,263.90 late last week, boosted by a flight to safety.

ECONOMY NEWS :

  • Australia will move to a new process by the end of this year for setting its credit market reference rate, even as the corporate regulator reportedly prepares to launch its first civil action for attempted rate rigging. The changes, contained in a discussion paper from the Council of Financial Regulators (CFR), are intended to minimise the risk of manipulation facing Australia’s BBSW bank bill swap rate, which sets the price of money market funds.
  • Japan is poised to push for greater cooperation from its G7 partners to soothe market jitters but may struggle to produce measures that could meaningfully restore global market confidence, government sources say. As economic leaders from G20 nations prepare to meet in Shanghai next week, there is increasing market speculation that the world’s largest economies, notably G7 countries, may produce a coordinated policy response to global market ructions and slowing growth. This could include currency intervention.
  • A delegation from the International Monetary Fund will visit Tunisia on Thursday to begin talks on a new credit programme likely to be worth at least $1.7 billion (£1.17 billion), a Tunisian official said.Tunisia is seeking to revive an economy that has struggled since the 2011 uprising that sparked the Arab Spring revolutions across North Africa, with deadly attacks last year by Islamist militants hitting the tourism industry on which it relies for jobs and revenue.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1215 TARGET 1220 126 SL 1221
  • SELL GOLD BELOW 1205 TAGRET 1200 1194 SL 1211

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

15Feb
gold-bars

Comex Trading Signals and Market News – 15 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil prices gained further in Asia on Friday spurred by what appear to be a renewed effort by major producers to coordinate a cut in global output.On the New York Mercantile Exchange, WTI crude for March delivery soared 5.59% to $27.67 a barrel. Brent rose 5.56% to $31.73 a barrel.Minutes after the U.S. close, Dow Jones reported that OPEC members are preparing to cooperate on potential production cuts according to UAE’s energy minister.
  • Copper futures rallied smartly during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amidst a pickup in physical demand for copper in the domestic spot market. Further upbeat Euro area Q4 GDP data signaled a resilient recovery in the 19-member economy lifting the demand outlook for the industrial metal.
  • Natural Gas futures plunged by more than 1 per cent in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as a smaller than expected US storage withdrawal last week signaled weak demand for the heating fuel in the world’s biggest gas consuming nation.The EIA said that US gas supplies fell 70 billion cubic feet to 2.864 trillion cubic feet in the week ended February 5 compared to expectations of an 82 billion cubic feet drop.

ECONOMY NEWS :

  • The Federal Reserve’s carefully scripted decision to raise interest rates last December, and begin a return to “normal” policy, may now become a nightmare for the U.S. central bank if an economic downturn forces a return to unconventional methods. Fed chair Janet Yellen told lawmakers this week she was studying ways to “be prepared” in the event the current slide in world stock markets, concern about financial sector stress, and slowing economic growth all translate into a recession or another financial crisis.
  • Greek police fired tear gas to disperse farmers protesting against pension reforms who threw stones at the Agriculture Ministry building in central Athens on Friday, ahead of a major demonstration expected later in the day.Farmers from all over Greece were heading to the capital to demonstrate their fury at the government’s plans to raise pension contributions and taxes.About 800 farmers from Crete, Greece’s biggest island, scuffled with police guarding the entrance to the ministry, throwing stones and breaking windows.
  • Australia and New Zealand Banking Group ANZ.AX failed to see that some Asian nations would grow hostile to foreign banks after the 2008 financial crisis, which stymied its growth in the region, the bank’s chief executive said in a newspa per interview on Friday. ANZ, Australia’s fourth-largest bank, is the only one of the big four to have made a big push into Asia, with its previous chief executive, Mike Smith, having set a target to derive 25-30 percent of the group’s 2017 earnings from offshore.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
  • SELL GOLD BELOW 1235 TAGRET 1230 1224 SL 1241

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

12Feb
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Comex Trading Signals and Market News – 12 February 2016

INTERNATIONAL COMMODITY NEWS :

  • West Texas Intermediate oil futures tumbled below the $27-level to re-approach the lowest level in almost 13 years in Europe trade on Thursday, as record crude inventories at the Cushing delivery hub underlined concerns over a supply glut. Crude oil for delivery in March on the New York Mercantile Exchange fell to an intraday low of $26.56 a barrel, before recovering slightly to trade at $26.88 by 08:55GMT, or 3:55AM ET, down 56 cents, or 2.02%. A day earlier, prices declined 49 cents, or 1.75%.
  • Gold futures jumped to the highest level since May in Europe trade on Thursday, amid growing skepticism over the Federal Reserve’s ability to raise interest rates as much as it would like this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to an intraday peak of $1,215.30 a troy ounce, a level not seen in almost nine months, before falling back to trade at $1,207.80 by 08:00GMT, or 3:00AM ET, up $13.30, or 1.11%. A day earlier, gold shed $4.00, or 0.33%.
  • Natural Gas futures slumped by 4 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts calling for warmer than average temperatures in the US later in February threatened to curb the demand for the heating fuel in the world’s biggest gas consuming nation.

ECONOMY NEWS :

  • India will link the interest paid to millions of small savers in a $137-billion federal deposit scheme to market rates that will be revised every quarter, a top finance ministry official said on Thursday.Cutting the small savings rate could save the government an estimated $700 million a year. But the move is likely to irk small savers and could be unpopular politically, particularly in rural areas where few banks have branches.
  • India’s economic growth is robust despite turmoil on global financial markets, a top finance ministry official said on Thursday, reiterating the official forecast that the economy would grow by 7.6 percent in the year to March.”The world is in turmoil,” Economic Affairs Secretary Shaktikanta Das told a news briefing on the economy that will set the stage for the annual budget on Feb. 29.Das described growth by Asia’s third-largest economy as “robust” and said it was driven by manufacturing.
  • Australian Prime Minister Malcolm Turnbull will likely inherit a hard-right, climate change sceptic for his deputy after the retirement of his current No.2 on Thursday, an appointment that could block any revamp of an emissions trading scheme. Agriculture Minister Barnaby Joyce, an outspoken lobbyist for the nation’s farmers and for tougher controls on foreign investment, is the leading candidate for the job traditionally held by the coalition government’s minor partner, the Nationals.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1220 TARGET 1225 1231 SL 1214
  • SELL GOLD BELOW 1215 TAGRET 1210 1204 SL 1221

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

11Feb
gold-bars

Comex Trading Signals and Market News – 11 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Gold futures edged lower in Europe trade on Wednesday, as investors looked ahead to testimony from Federal Reserve Chair Janet Yellen later in the day forfurther clarity on the pace of future interest rate hikes. Yellen is
    scheduled to testify on the economy before the House Financial Services Committee at 15:00GMT, or 10:00AM ET, Wednesday.
  • Natural Gas futures slid by more than 1 per cent in the domestic market on Tuesday as investors and speculators resorted to profit booking in the energy commodity at existing levels after prices surged by more than 4.5 percent in the previous session as forecasts for cold weather across parts of the US over the next two weeks bolstered the demand outlook for the heating fuel.
  • West Texas Intermediate oil futures rebounded from the prior session’s steep decline in Europe 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 15:30GMT, or 10:30AM ET, amid expectations for a gain of 3.6 million barrels.

ECONOMY NEWS :

  • British private sector employers plan to raise wages by 2.8 percent this year compared with 2.4 percent in 2015, a Bank of England survey showed on Wednesday, offering policymakers some assurance that wages will pick up in line with their forecasts.BoE Governor Mark Carney has said chunkier wage rises are one likely precondition for increasing interest rates. Growth in Britons’ average earnings reached 3 percent in mid-2015 but slowed later in the year.
  • German companies feel business conditions have never been better and see exports improving after a weak spell, the DIHK Chambers of Commerce said on Wednesday, though it sounded a note of caution about the banking sector.The body’s optimistic note came in the face of weak industrial output and export data released on Tuesday that suggested Europe’s largest economy lost momentum at the end of last year and may struggle this year.
  • Australian Trade Minister Andrew Robb, who led free trade agreements with Japan, South Korea and China, said on Wednesday he will resign amid growing expectations of a major cabinet reshuffle by Prime Minister Malcolm Turnbull. Turnbull, who has indicated he will make big changes within his cabinet before facing his first general election, called Robb Australia’s most successful trade minister, raising questions about why he had decided to call it a day.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1187 TARGET 1192 1197 SL 1181
  • SELL GOLD BELOW 1181 TAGRET 1176 1170 SL 1187

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

10Feb
gold-bars

Comex Trading Signals and Market News – 10 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Natural Gas futures slid during noon trade in the domestic market on Tuesday as a stellar rally in the previous session when prices surged by more than 4.5 per cent as forecasts for cold weather across parts of the US over the next two weeks bolstered the demand outlook for the heating fuel paved way for profit booking in the energy commodity by investors and speculators at existing levels.
  • Gold prices fell by 0.19 per cent on Tuesday on profit taking as investors looked ahead to the views on US interest rates this week.Investors await an appearance by Federal Reserve chair Janet Yellen before the House Financial Services Committee on Wednesday for further indications on the pace of tightening over the next several months.
  • Crude oil prices fell by 0.05 per cent on Tuesday after a meeting between oil ministers from Saudi Arabia and Venezuela over the weekend reportedly accomplished little headway toward reaching an agreement that could curtail near-record high production by OPEC.At the MCX crude oil futures for February 2016 contract were trading at Rs. 2049 per barrel down by 0.05 per cent after opening at Rs. 2057 against the previous closing price of Rs. 2048. It touched the intra-day low of Rs. 2045 till the trading.

ECONOMY NEWS :

  • U.S. President Barack Obama unveils his final White House budget on Tuesday with a blueprint for fiscal year 2017    that will lay out his spending proposals for priorities from fighting Islamic State to providing for the poor. The budget for the fiscal year beginning on Oct. 1 is largely a political document and is unlikely to be passed by the Republican-controlled Congress.But it gives the Democratic president, who leaves office in January, a chance to make a last pitch for funding on issues such as education, criminal justice reform and job creation.
  • The Australian government said on Wednesday it wants to digitise A$42 billion ($30 billion) a year of health payments to keep up with “tap and go” technology, prompting critics to warn against any attempt to sell off the four-decade-old system by stealth.Health Minister Sussan Ley said in a statement that the government was “investigating ways to digitise its transaction technology for payments to a more consumer-friendly and faster format”.
  • Japanese Finance Minister Taro Aso warned on Tuesday against a recent rise in the yen, describing the moves as “rough”, a sign that policymakers are concerned the currency’s gains may offset the positive effects from “Abenomics” stimulus policy. Japan’s top currency diplomat Masatsugu Asakawa echoed the minister’s warning, saying that he would closely monitor market moves.Despite verbal warning shots, the dollar fell below 115 yen on Tuesday morning, a low not seen since November 2014.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1190TARGET 1195 1201 SL 1184
  • SELL GOLD BELOW 1163 TAGRET 1158 1152 SL 1169

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

9Feb
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Comex Trading Signals and Market News – 09 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Crude oil futures rose on Monday in thin trade as many Asian markets were on holiday for Lunar New Year, with few trading cues expected until Federal Reserve Chair Janet Yellen gives testimony to lawmakers later in the week. Global benchmark Brent futures (LCOc1) were up 17 cents at $34.23 at 0751 GMT.They fell 40 cents to $34.06 a barrel on Friday.U.S. crude futures (CLc1) rose 18 cents to $31.07, after falling 83 cents to $30.89 on Friday. Both contracts had dropped slightly earlier on Monday in see-saw trade on low volumes.
  • Gold futures stayed near a three-month high in Europe trade on Monday, amid growing uncertainty over the Federal Reserve’s ability to raise interest rates as much as it would like this year.Gold for April delivery on the Comex division of the New York Mercantile Exchange ticked up $7.80, or 0.67%, to trade at $1,165.50 a troy ounce by 07:50GMT, or 2:50AM ET. On Friday, gold rallied to $1,175.00, the most since October 28, before falling back to close at $1,157.70, following the release of a mixed U.S. employment report for January, with the rate of job creation slowing but wage growth accelerating.
  • Natural Gas futures surged almost 5 per cent in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity as the sharp losses in recent sessions offered a good bargain buying opportunity in the fuel at existing levels for investors and speculators.Gas prices have been hit by fears that warmer than average temperatures across parts of the US through mid-February may curb the demand for gas-fired heating at offices and homes in the world’s biggest gas consuming nation.

ECONOMY NEWS :

  • India will release data on Monday showing it remains one of the fastest growing economies in the world, but economists are struggling to reconcile that rosy picture with ground realities like weak exports, investment, and flat corporate order books. The median estimate from a Reuters poll of economists put GDP INGDPQ=ECI annual growth at 7.3 percent in the quarter through December, just below 7.4 percent in July-September.If the data comes in line with expectations, it would be faster than 6.8 percent growth posted by China in the same quarter.
  • Australian Prime Minister Malcolm Turnbull on Monday ruled out a rise in the Goods and Services Tax (GST) under pressure from within his own party, further raising the possibility that he may dissolve parliament and call a snap election. The decision severely hampers the government’s ability to include significant tax cuts of the kind beloved by voters in the May budget due to be released just months ahead of general elections expected for September or October.
  • Global markets have been in turmoil since the start of the year, with stocks and commodities prices reeling, eroding inflation and making central banks increasingly dovish – a trend that could continue with more weak economic data. China, a focus of much of the recent market concern, released foreign reserves data on Sunday which showed the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows. country’s foreign reserves fell $99.5 billion to $3.23 trillion in January, the lowest level since May 2012, central bank data showed.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1175 TARGET 1180 1188 SL 1164
  • SELL GOLD BELOW 1163 TAGRET 1158 1150 SL 1180

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

 

5Feb
comex

Comex Trading Signals and Market News – 05 February 2016

INTERNATIONAL COMMODITY NEWS :

  • Oil prices stabilized in Europe trade on Thursday, one day after rallying 8% on the back of a broadly weaker U.S. dollar and amid ongoing rumors about a potential deal between Russia and OPEC to cut a global supply glut.On the ICE Futures Exchange in London, Brent oil for April delivery shed 14 cents, or 0.4%, to trade at $34.90 a barrel by 09:00GMT, or 4:00AM ET.
  • Natural Gas futures tumbled by more than 1.5 per cent during noon trade in the domestic market on Thursday as investors and speculators resorted to a cautious stance ahead of weekly US storage numbers which may show that US gas supplies fell by 159 billion cubic feet last week compared to a five-year average withdrawal of 165 billion cubic feet.
  • Copper futures advanced during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid hopes that fresh cash injection by the People’s Bank of China may spur lending and help bolster an economic recovery in the world’s biggest metals consumer lifting the demand outlook for Copper.

ECONOMY NEWS :

  • A top Federal Reserve official said on Thursday he backs tougher stress tests for “too big to fail” banks including higher capital requirements that would make them “even more binding.”The United States adopted both stress tests and capital surcharges for banks in the wake of the 2007-2009 financial crisis, when U.S. investment bank Lehman Brothers collapsed and set off a deep global recession.
  • Euro zone economic growth will slightly accelerate this year and next, the European Commission estimated on Thursday, but the pace will be slower in 2016 than previously forecast because of increased global risks. The gross domestic product (GDP) of the 19-country single currency bloc is expected to expand by 1.7 percent this year from 1.6 percent in 2015. The recovery will gain speed in 2017 with economic expansion of 1.9 percent, the EU executive said in its winter economic forecasts.
  • Just days before the Bank of Japan stunned financial markets with its radical adoption of negative interest rates, members of the central bank’s own policy board had also been taken by surprise by the move. Most of the nine board members were only told of the scheme in the week leading up to Friday’s rate review, according to interviews with more than a dozen officials familiar with the deliberations.

TRADING STRATEGY :

  • BUY GOLD ABOVE 1147 TARGET 1152 1157 SL 1141
  • SELL GOLD BELOW 1140 TAREGT 1135 1129 SL 1146

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

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