3Oct

COMEX MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • OPEC delivered only a limited increase in oil production in September, a Reuters survey has found, as a cut in Iranian shipments due to U.S. sanctions offset higher output in Libya, Saudi Arabia and Angola. The 15-member Organization of the Petroleum Exporting Countries pumped 32.85 million barrels per day in September, the survey on Monday found, up 90,000 bpd from August’s revised level and the highest this year.
  • Husky Energy Inc’s (TO:HSE) hostile bid for MEG Energy Corp (TO:MEG) reflects the need for Canadian oil companies to own integrated assets, from production to refineries, to manage the deep price discounts on Canadian crude, Husky’s chief executive said on Monday. Husky’s cash and stock offer, announced on Sunday, would combine MEG’s heavy oil production with Husky’s output, pipeline space and refineries, in a deal valued at C$6.4 billion.
  • China will cut import tariffs on textile products and metals, including steel products, to 8.4 percent from 11.5 percent, effective Nov. 1, the finance ministry said on Sunday. Beijing has pledged to take steps to increase imports this year amid rising tension with some of its biggest trade partners, such as the United States. Earlier in July, China reduced import tariffs on a range of consumer items including apparel, cosmetics, home appliances, and fitness products to fulfil pledges to further open China’s consumer market.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Qatar has started proceedings against Saudi Arabia at the World Trade Organization (WTO), accusing it of intellectual property rights violations, Qatar’s economy ministry said on Monday. Part of Qatar’s concerns involve the blocking of Qatari broadcaster beIN in Saudi Arabia, the ministry said on its website, and accused Riyadh of refusing to take effective action against the piracy of beIN content in the kingdom.
  • Italian Finance Minister Giovanni Tria said on Monday he would seek to reassure his euro zone counterparts about Italy’s budgetary plans, adding that the country’s debt to GDP ratio will decline. “I will try to explain what is happening and our budgetary plans,” Tria told reporters. Asked about Italy’s budget debt, he replied: “Debt to GDP will go down.”
  • The Conservatives are meeting for day two of their annual conference in Birmingham, with the party divided on Theresa May’s blueprint for Brexit. Large parts of it have also been rejected by the European Union and according to a senior British official, the government is preparing to make a significant offer to the bloc to try to unlock negotiations.

COMEX GOLD SIGNAL

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3Oct

Malaysia Stock Market Today

The FBM KLCI index lost 0.69 points or 0.04% on Monday. The Finance Index fell 0.22% to 17760.93 points, the Properties Index dropped 0.66% to 990.8 points and the Plantation Index down 0.15% to 7528.66 points. The market traded within a range of 5.70 points between an intra -day high of 1797.85 and a low of 1792.15 during the session.

Actively traded stocks include SAPNRG, REACH-WA, REACH, SUMATEC, PERDANA, GPACKET, DNEX, HIBISCS, HIBISCS-WC and VELESTO. Trading volume increased to 2402.25 mil shares worth RM1632.48 mil as compared to Friday’s 2108.93 mil shares worth RM2580.17 mil.

3 october

 

Leading Movers were AXIATA (+9 sen to RM4.65), PETCHEM (+5 sen to RM9.41), PETDAG (+14 sen to RM26.40), IOICORP (+2 sen to RM4.56) and PETGAS (+8 sen to RM18.98). Lagging Movers were TM (-5 sen to RM3.17), SIMEPLT (-6 sen to RM5.24), PMETAL (-5 sen to RM4.81), GENM (-5 sen to RM4.94) and KLCC (-7 sen to RM7.53).

Market breadth was negative with 427 gainers as compared to 455 losers. The KLCI inched down and closed lower at 1792.46 amid last Friday mixed performance in US market. Market sentiment was muted as lack of fresh lead.

 


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3Oct
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Forex Market Report| Epic Research

INTERNATIONAL CURRENCY BUZZ

Forex – Lira Gains as Signs of Economic Cooling Boost Investor Sentiment
Forex – Sterling Jumps on News of Irish Border Deal
Forex – Euroclear to offer dollar settlement in central bank money for the first time

EUR/USD

Post-trade services provider Euroclear said on Monday its UK and Ireland arm had linked to the U.S. Federal Reserve settlement service, enabling it to settle dollar transactions via a central bank payment model for the first time. The group said it was the first non-U.S. financial services infrastructure to connect to the Fed’s National Settlement Service. While Euroclear UK and Ireland (EUI) already offers a settlement in “central bank money” for sterling and euro transactions, hooking up with the Fed allows it to expand the service to dollars. The central bank or sovereign money refers to money issued by a central bank. EUI’s existing dollar settlement was based on commercial bank money, which is generated when banks issue loans or conduct transactions in excess of their actual currency holdings. Euroclear said customers would now get dollar cash proceeds from a sale of securities from the moment each transaction settled.

GBP/USD

Sterling surged on Monday amid news that the UK plans to compromise on the Irish border issue to move forward with a Brexit deal. GBP/USD jumped 0.28% to 1.3066 as of 9:05 AM ET (13:05 GMT), not far from an earlier high of 1.3078. UK Prime Minister Theresa May plans to make a new Brexit deal with the European Union, Bloomberg reported. A senior British government official told Bloomberg that the country sees a way to reach an agreement on the border issue. The compromise would only apply as a last resort if a deal is not reached and would be conditional on the UK having full access to the EU customs union. The EU has already proposed allowing Northern Ireland to trade with Ireland without full checks, which May has rejected on the grounds that it would break up the UK. Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched down 0.05% to 94.75 as trade tensions eased and investors moved to riskier assets.

3 fx

 

 

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2Oct

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • OPEC delivered only a limited increase in oil production in September, a Reuters survey has found, as a cut in Iranian shipments due to U.S. sanctions offset higher output in Libya, Saudi Arabia and Angola. The 15-member Organization of the Petroleum Exporting Countries pumped 32.85 million barrels per day in September, the survey on Monday found, up 90,000 bpd from August’s revised level and the highest this year.
  • Husky Energy Inc’s (TO:HSE) hostile bid for MEG Energy Corp (TO:MEG) reflects the need for Canadian oil companies to own integrated assets, from production to refineries, to manage the deep price discounts on Canadian crude, Husky’s chief executive said on Monday. Husky’s cash and stock offer, announced on Sunday, would combine MEG’s heavy oil production with Husky’s output, pipeline space and refineries, in a deal valued at C$6.4 billion.
  • China will cut import tariffs on textile products and metals, including steel products, to 8.4 percent from 11.5 percent, effective Nov. 1, the finance ministry said on Sunday. Beijing has pledged to take steps to increase imports this year amid rising tension with some of its biggest trade partners, such as the United States. Earlier in July, China reduced import tariffs on a range of consumer items including apparel, cosmetics, home appliances, and fitness products to fulfill pledges to further open China’s consumer market.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Qatar has started proceedings against Saudi Arabia at the World Trade Organization (WTO), accusing it of intellectual property rights violations, Qatar’s economy ministry said on Monday. Part of Qatar’s concerns involve the blocking of Qatari broadcaster beIN in Saudi Arabia, the ministry said on its website, and accused Riyadh of refusing to take effective action against the piracy of beIN content in the kingdom.
  • Italian Finance Minister Giovanni Tria said on Monday he would seek to reassure his euro zone counterparts about Italy’s budgetary plans, adding that the country’s debt to GDP ratio will decline. “I will try to explain what is happening and our budgetary plans,” Tria told reporters. Asked about Italy’s budget debt, he replied: “Debt to GDP will go down.”
  • The Conservatives are meeting for day two of their annual conference in Birmingham, with the party divided on Theresa May’s blueprint for Brexit. Large parts of it have also been rejected by the European Union and according to a senior British official, the government is preparing to make a significant offer to the bloc to try to unlock negotiations.

COMEX GOLD SIGNAL

For More information and daily updated KLSE stock picks, Comex signals, Forex signals Click here – http://www.epicresearch.my or Whatsapp us at +917312580605

1Oct

COMEX MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were slightly higher on Friday, but still remained near a six-week low as the greenback continued to rally from the Federal Reserve’s interest rate hike and strong economic data. Comex gold futures for December delivery inched up 0.20% to $1,189.80 a troy ounce as of 9:22 AM ET (13:22 GMT), on track for a 1.7% loss for September. Gold suffered after the Fed increased interest rates for the third time on Wednesday, which helped bolster the greenback.
  • Mexican Economy Minister Ildefonso Guajardo said on Friday that the United States and Canada are making a serious attempt to reach a deal on the North American Free Trade Agreement, saying that within 48 hours it would become clear if the deal would remain trilateral. “In the next 48 hours we will know if we’re going to go with a trilateral text (that includes Canada) or if we’re going to be forced to publish a text of the bilateral (U.S.-Mexico) deal,” Guajardo told lawmakers.
  • Oil prices were higher on Friday as supply concerns weighed and investors looked ahead to weekly rig count data. West Texas crude oil futures for November rose 0.22% to $72.28 a barrel as of 9:54 AM ET (13:54 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.69% to a four-year-high of $81.94. Late on Wednesday, the U.S. said it would not increase supply to offset the decrease in production.

GOLD TRADING FORECAST TODAY

For More information and daily updated KLSE stock picks, Comex signals, Forex signals Click here – http://www.epicresearch.my or Whatsapp us at +917312580605

1Oct
forex

Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Inches Up After Fed; Aussie Dollar Also Gains
Forex – EUR/USD stance moves to neutral – Scotiabank
Forex – GBP/USD keeps the red near session lows, around 1.3120 ahead of Carney

EUR/USD

“Italian budget negotiations are in focus as market participants assess the risk of a delay to the 2019 budget plan, given conflicting reports on planned deficit targets. 10Y BTP yields are up 5bpts on the day.ECB rate expectations remain steady and German-U.S. yield spreads have narrowed from their extended levels. Measures of implied volatility are rising and lifting the premium for protection against EUR weakness”. “Bullish momentum indicators are fading to neutral and the DMI’s are converging. EUR appears to have found near-term support in the 1.1680-1.1700 area and we would anticipate additional support at 1.1650. We continue to highlight the importance of the 1.1780 level representing the first major retracement (38.2%) of the 2018 decline”.

GBP/USD

The GBP/USD pair held on to its weaker tone through the early North-American session and is now headed towards the lower end of its daily trading range. Against the backdrop of a hawkish assessment of the latest FOMC statement, the US Dollar positive momentum picked up pace after the final US Q2 GDP growth figures confirmed the preliminary estimate of 4.2% annualized pace, the strongest in 4 years. This coupled with a stronger than expected jump in durable goods orders offset a slight disappointment from core durable goods orders, initial weekly jobless claims and goods trade balance data, coming in to show an unexpected rise in deficit to $75.83 billion in August. The USD positive momentum seemed rather unaffected by the prevalent weaker tone surrounding the US Treasury bond yields, with increasing odds for a no-deal Brexit further collaborating towards keeping the GBP bulls on the defensive.

 

1 fx

 

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1Oct

KLCI Forum Today

The FBM KLCI index lost 5.49 points or 0.31% on Friday. The Finance Index fell 0.08% to 17799.45 points, the Properties Index dropped 0.63% to 997.39 points and the Plantation Index down 0.31% to 7539.94 points. The market traded within a range of 7.58 points between an intra-day high of 1798.68 and a low of 1791.10 during the session.

Actively traded stocks include SAPNRG, ORION, GLOTEC, VELESTO, HIBISCS, HIAPTEK, HSI-C3P, EAH-WE, ORION-WA and SAPRNGC69. Trading volume increased to 2108.93 mil shares worth RM2580.17 mil as compared to Thursday’s 1993.35 mil shares worth RM2053.86 mil.

blog 1 Oct

Leading Movers were HARTA (+13 sen to RM6.62), PMETAL (+3 sen to RM4.86), IHH (+3 sen to RM5.21), HAPSENG (+5 sen to RM9.90) and DIGI (+2 sen to RM4.82). Lagging Movers were AXIATA (-17 sen to RM4.56), PETDAG (-32 sen to RM26.26), SIME (-3 sen to RM2.61), KLCC (-8 sen to RM7.60) and HLFG (-18 sen to RM19.30). Market breadth was positive with 434 gainers as compared to 395 losers.

The KLCI closed lower at 1793.15 despite overnight gains in US market. The performance of our local bourse bogged down by selling interest in heavy weight counters led by Axiata.

28Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices dipped below the psychologically important $1,200 level on Thursday, finding little support after the Federal Reserve raised interest rates and indicated that it remains on track to continue monetary tightening into next year. The Fed raised interest rates by a quarter point to 2.25% on Wednesday, its third rate hike this year and its eighth since 2015. In its statement, the Fed said it still foresees another rate hike in December followed by three more in 2019, and one additional increase in 2020.
  • Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production but is worried it might need to limit output next year to balance global supply and demand as the United States pumps more crude. The kingdom, OPEC’s top producer, came under renewed pressure last week from U.S. President Donald Trump to cool oil prices ahead of a meeting in Algiers between a number of OPEC ministers and allies including Russia.
  • Oil prices were hovering near the $82 a barrel level on Thursday, close to the four year highs reached earlier in the week amid fears of a supply shortage as the U.S. prepares to re-impose sanctions on Iran from Nov. 4. London traded Brent crude futures were up 0.71% to $81.36 a barrel from their last close by 07:51 AM ET (11:51 AM GMT), holding below the high of $82.55 reached Tuesday, the most since November 2014.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Canada’s Prime Minister Justin Trudeau on Thursday dismissed U.S. President Donald Trump’s criticism of the slow pace of talks to modernize the North American Free Trade Agreement, saying Canadians were tough negotiators. Trudeau spoke a day after Trump blasted Canada’s negotiating position, said he had rejected the Canadian leader’s request for a one-on-one meeting and threatened to impose tariffs on cars imported from Canada.
  • EU officials were waiting anxiously on Thursday for the eurosceptic Italian government’s decisions on its deficit targets for next year, which could challenge the bloc’s fiscal rules and further rattle markets. Fearing that public statements from Brussels could inflame the eurosceptic wave in Italy, they have largely preferred to maintain silence, but informally admit “concerns” for its economy and the risk of spillovers into other euro zone countries.
  • Financial policymakers need more tools and data to regulate investment funds and other so-called “shadow banks” after a boom in the industry, European Central Bank President Mario Draghi said on Thursday. “The growth in importance of the non-bank financial sector requires commensurate additions to the policy toolkit,” Mario Draghi told an event at the ECB. “Policymakers also need access to – and the ability to process and understand – high-quality data to underpin their decisions.”

COMEX GOLD SIGNAL

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28Sep

KLCI Index Lost 0.08 Points

The FBM KLCI index lost 0.08 points or 0.00% on Thursday. The Finance Index fell 0.02% to 17813.37 points, the Properties Index dropped 0.35% to 1003.73 points and the Plantation Index rose 0.21% to 7563.26 points. The market traded within a range of 9.88 points between an intraday high of 1803.71 and a low of 1793.83 during the session.

Actively traded stocks include SAPNRG, VS-WA, HIBISCS, VELESTO, ORION, MYEG, SCOMI, PESONA, FOCUS and KGB-WA. Trading volume decreased to 1993.35 mil shares worth RM2053.86 mil as compared to Wednesday’s 2212.82 mil shares worth RM2300.40 mil.

28Sept

Leading Movers were GENM (+8 sen to RM5.01), PMETAL (+5 sen to RM4.83), SIME (+6 sen to RM2.64), IOICORP (+2 sen to RM4.56) and PETCHEM (+4 sen to RM9.38). Lagging Movers were IHH (-11 sen to RM5.18), HARTA (-8 sen to RM6.49), MISC (-6 sen to RM6.10), TM (-3 sen to RM3.23) and HLFG (-14 sen to RM19.48). Market breadth was negative with 359 gainers as compared to 503 losers.

 

The KLCI closed flattish at 1798.64 despite overnight poor performance in US market. The performance of our local bourse remained muted as lack of fresh catalyst.

27Sep

COMEX MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices slipped lower on Wednesday, but held above the psychologically important $1,200 level , as investors awaited the conclusion of the Federal Reserve meeting later in the day, when it was widely expected to deliver its third rate hike this year. December gold futures were down $2.20 or 0.19% to $1,203.90 by 07.15 AM ET (11.15 GMT) on the Comex division of the New York Mercantile Exchange.
  • West Texas Intermediate oil remained lower in North American trade on Wednesday, as data showed that oil supplies in the U.S. fell more than expected. Crude oil for November delivery on the New York Mercantile Exchange were mostly unchanged, falling 0.62% to trade at $71.81 a barrel by 10:32 AM ET (14:32 GMT) compared to $71.72 prior.
  • China’s soybean processors are snapping up record volumes of Brazilian cargoes for shipment in the fourth quarter, curbing purchases of U.S. crops in North America’s peak marketing season as the trade war between Washington and Beijing intensifies. That shift away from U.S. beans by China, which takes more than 60 percent of the commodity traded worldwide, will pile further pressure on benchmark Chicago Board of Trade prices after they plumbed 10-year lows last week

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  •  Ireland’s Sharon Donnery and Italy’s Andrea Enria are both likely to be shortlisted by the European Central Bank to head its bank supervision arm from next year, two sources familiar with the process said on Wednesday. The ECB’s Governing Council was to decide on the shortlist later in the day, then consult a European Parliament committee before narrowing down the list to a single candidate later this autumn.
  • Europe’s banking watchdog has backed a recommendation by the Maltese financial regulator to withdraw Pilatus Bank’s banking license following the indictment of its chairman for money laundering. EBA’s move puts pressure on the European Central Bank which is expected to make a decision on whether to withdraw Pilatus’s license as early as this week. A spokesman for the ECB declined to comment.
  • China will cut import tariffs on goods including machinery, paper, textiles and construction materials from Nov. 1, in a move that would lower costs for consumers and companies as a trade war with the U.S. deepens. The decision will lower tariffs for 1,585 products, state radio reported, citing a meeting of the State Council. The combination of these and other tariff cuts this year will lower the tax burden on consumers and companies by about 60 billion yuan ($8.7 billion), the radio reported.

GOLD TRADING FORECAST TODAY

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