Daily Comex Signal and Financial News




  • Gold prices bounced back on Thursday, erasing earlier losses as the greenback broadly weakened after the release of downbeat U.S. data dampened optimism over the strength of the economy. Comex gold futures were up 0.20% at $1,322.10 a troy ounce by 08:35 a.m. ET (12:35 GMT), off session lows of $1,316.10. The U.S. Department of Labor reported on Thursday that initial jobless claims increased to 261,000 last week, compared to expectations for a drop to 246,000.
  • Crude oil prices remained at three-year highs on Thursday, as optimism dominated following news this week of another decline in U.S. crude stockpiles. The U.S. West Texas Intermediate crude February contract was up 85 cents or about 1.34% at $64.42 a barrel by 10:00 a.m. ET (14:00 GMT), the highest since December 2014. Elsewhere, Brent oil for March delivery on the ICE Futures Exchange in London gained 27 cents or about 0.39% to $69.48 a barrel, just off a fresh three-year peak of $69.59 hit earlier in the day.
  • Natural gas futures surged on Thursday, hitting their highest level in a week after data showed the largest withdrawal on record in U.S. supplies in storage. U.S. natural gas futures jumped 9.5 cents, or around 3.3%, to $3.002 per million British thermal units by 10:45AM ET (1545GMT). Futures were at around $3.015 prior to the release of the supply data.


  • China’s hints that it may slow purchases of U.S. government debt gave Treasury Secretary Steve Mnuchin and his team a test-run on debt market shocks. The episode, prompted by a Bloomberg News report that sent 10-year Treasury yields to their highest level in 10 months before recovering, highlights a staffing gap in the Office of Domestic Finance that pre-dates Mnuchin. That’s the arm of the department that would deal with a disruption in debt markets that a major shift in Chinese policy could precipitate.
  • The majority of economists believe that the Federal Reserve will hike rates in March with a second move higher arriving in June, according to a survey released on Thursday. A monthly Wall Street Journal survey of approximately 60 economists showed that 92.5% of them believe the Fed will hike rates at its March 28 decision.
  • The United States must be taken seriously when it says it might walk away from NAFTA, Canada’s foreign minister said on Thursday, a day after government sources said Ottawa was increasingly convinced U.S. President Donald Trump would pull the plug. Chrystia Freeland also told reporters that Canada had come up with some creative ideas in a bid to solve the toughest challenges facing negotiators when they meet for the sixth and penultimate round of talks to modernize the North American Free Trade Agreement later this month.








  • Gold prices were hovering near four-month highs on Wednesday, as sentiment on the U.S. dollar weakened ahead of retail sales and inflation reports due at the end of the week. Comex gold futures were up 0.69% at $1,322.80 a troy ounce by 08:30 a.m. ET (12:30 GMT), just off a four-month peak of 1,328.60 hit earlier in the day. The U.S. dollar received no support after official data on Wednesday showed that U.S. import prices rose less than expected in December, while export prices unexpectedly fell.
  • Crude prices held on to gains on Wednesday, staying close to their strongest level in around three years after data showed U.S. oil supplies fell more than forecast last week. The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 4.9 million barrels in the week ended Jan. 5. That compared with analysts’ expectations for a decline of 3.9 million barrels, while the American Petroleum Institute late Tuesday reported a supply-drop of 11.2 million barrels.
  • Natural gas futures ticked higher for the third session in a row on Wednesday, as investors speculated this week’s supply report will show the largest drop on record as cold weather boosts demand. U.S. natural gas futures tacked on 1.9 cents, or around 0.7%, to $2.942 per million British thermal units (btu) by 8:15AM ET (1315GMT). It surged 8.8 cents, or 3.1%, on Tuesday as freezing temperatures stoked demand for the heating fuel across the U.S. Northeast.


  • Canada has launched a wide-ranging trade dispute against the United States, challenging Washington’s use of antidumping and anti-subsidy duties, Canada said in WTO filing dated Dec. 20 and published on Wednesday. Canada appeared to be mounting a case on behalf of the rest of the world, since it cited almost 200 examples of alleged U.S. wrongdoing, almost all of them concerning other trading partners, such as China, India, Brazil and the European Union
  • Chicago Federal Reserve Bank President Charles Evans on Wednesday said that in late 2017 when the rest of his Fed colleagues decided to raise interest rates for a third time, he wanted to wait until mid-2018. While most of his colleagues believe that a strengthening labor market will boost inflation this year, justifying higher interest rates, Evans said he has seen that forecast for several years running and it has not panned out.
  • The Federal Reserve Bank of Minneapolis on Wednesday called for U.S. regulators to raise capital requirements for the largest U.S. banks, saying they are still ‘too big to fail’ despite a slew of reforms introduced following the 2008 financial crisis. The academic study estimates there is still a 67 percent chance of a tax-payer funded bail out over the next 100 years and that common equity requirements for banks with assets exceeding $250 billion should be “dramatically” increased.Recent indications show some Fed officials remain worried about stubbornly low inflation. That suggests a more cautious approach to additional rate hikes.

Today’s Comex signal and Daily Report

                                   Comex signal


10 jan1




  • Gold’s outperformed most major assets since the U.S Federal Reserve last month raised interest rates — even bitcoin. “Since the December hike, gold is beating stocks, the dollar and bitcoin,” Bloomberg Intelligence analyst Mike McGlone wrote in a note. “Unless greenback weakness reverses, gold should shine.” The metal’s sparkling performance in the face of tighter rates, though counter-intuitive, has become the norm.
  • Crude oil prices continued to rise and were trading near multi-year highs on Tuesday, as a decline in U.S. oil rigs and supply cuts by major oil producers continued to support the commodity. The U.S. West Texas Intermediate crude February contract was up 22 cents or about 0.36% at $61.95 a barrel by 04:00 a.m. ET (08:00 GMT), just off a fresh two-and-a-half year high of $62.27 hit overnight.
  • Gold prices fell slightly in Asia on Tuesday even as a weaker dollar offered some support and Japan wages data showed a surprise upside. Gold futures for February delivery on the Comex division of the New York Mercantile Exchange dipped 0.05% to $1,319.70 a troy ounce. The US dolalr index fell 0.11% to 91.98. Japan reported average cash earnings for November jumped 0.9%, well above the 0.6% expected and overtime pay soared 2.60% compared to a 0.60% rise seen.


  • Ireland’s corporate tax offering that has attracted many large multinationals to the country will remain competitive even as the equivalent corporate tax rate in the United States is slashed, Ireland’s finance minister said on Tuesday. “The proposition that we offer … will continue to be competitive, even against the context of changes being made in the U.S. .. and the UK,” Paschal Donohoe told a news conference.
  • President Emmanuel Macron offered on Tuesday to open up the French economy to Chinese investment in exchange for greater access to China’s booming markets, warning in talks in Beijing that existing trade imbalances would lead to protectionism. On the first state visit of his eight-month-old presidency, Macron is hoping greater openness from China, coupled with lobbying from the 50-strong business delegation traveling with him, will help narrow the 30-billioneuro ($36 bln) trade deficit Paris runs with Beijing.
  • Normally with an enormous tax cut package on the way, U.S. Federal Reserve policymakers would be expecting a spike in inflation. But given the unusual behavior of inflation since the Great Recession of 2009, normal may not be the case. Despite years of economic growth, the Fed’s preferred inflation gauge has yet to reach the central bank’s target level of 2%. At its worst in 2017, inflation rose st a 1.8% annual rate. Nevertheless, the central bank has raised interest rates on a steady basis since the end of 2015.

Market Report for Friday

US Market :

The Dow Jones industrial average broke above 25,000 for the first time on Thursday, tying the fastest 1,000-point move in its history, following the release of stronger-than-expected jobs data. The S&P 500 and Nasdaq composite also hit record highs.

Europe Market :
European markets closed higher Thursday, as services PMI data showed the euro zone was hovering close to its best growth in seven years and oil prices hovered around 2.5 year highs amid unrest in Iran.

Precious Metal Gold :
Gold steadied around a 3-1/2-month high on Thursday as prospects for further U.S. interest rate increases put the brakes on a recent rally, while palladium touched record highs on tight supplies.

Crude Oil :
Oil prices rose on Thursday, supported by unrest in Iran that has raised concerns about supply risks, a demand boost due to cold weather in the United States and OPEC-led output cuts.


Indices & Commodities :
DJIA: 25,075.13 (+152.45)
S&P500: 2,723.99 (+10.93)
NASDAQ: 7,077.92 (+12.38)
DAX: 13,167.89 (+189.68)
FTSE: 7,695.88 (+24.77)
EuroStoxx50: 3,568.71 (+58.83)
Comex Gold: 1,321.6 (+3.1)
Comex Copper: 3.2630 (+.0055)
WTI Crude Oil: 62.01 (+.38)
Brent Crude Oil: 68.07 (+.23)

Economic Events :
6.00PM – EUR CPI
9.30PM – USD Nonfarm Payrolls, Unemployment Rate
9.30PM – CAD Employment Change
11.00PM – USD ISM Non-Manufacturing PMI
11.00PM – CAD Ivey PMI

5jan holidays

FX & Bonds :
USD/MYR – 4.012
EUR/USD – 1.207
GBP/MYR – 5.436
AUD/MYR – 3.146
SGD/MYR – 3.019
Msia 10 yr Bond Yield ? 3.92%

4/1/2018 Bursa Trade Stat :
Retail (27.5%) – net SELL 24.5mil
Institution (49.0%) – net SELL 291.6mil
Foreign (23.5%) – net BUY 316.1mil
Total traded value 3284.9mil




                          Gold Comex Signal





  • Gold prices were lower on Thursday, but losses were expected to be limited as sentiment on the U.S. dollar remained vulnerable after the release of mixed U.S. economic reports. Comex gold futures were down 0.16% at $1,316.50 a troy ounce by 09:00 a.m. ET (13:00 GMT), off the previous session’s three-and-a-half month peak of $1,323.00. Payrolls processor ADP reported on Thursday that U.S. private employers added 250,000 jobs in December, well above economists’ expectations.
  • West Texas Intermediate oil held onto gains in North American trade on Thursday, after data that showed that oil supplies in the U.S. registered a larger-than-expected inventory draw. Crude oil for February delivery on the New York Mercantile Exchange gained $0.14, or 0.23%, to trade at $61.77 a barrel by 11:02AM ET (16:02GMT) compared to $61.81 ahead of the report. The U.S. Energy Information Administration said in its weekly report that crude oil inventoriesfell by 7.419 million barrels in the week ended December 22.
  • U.S. natural gas futures turned around and registered losses in North American trade on Thursday, after data showed that natural gas supplies in storage in the U.S. declined less than expected last week. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 206 billion cubic feet in the week ended December 29, while analysts had forecast a decline of 221 billion. After the release, natural gas for delivery in February on the New York Mercantile Exchange fell 0.3 cents, or about 0.10%, to trade at $3.003 per million British thermal units by 10:32AM ET (14:32GMT).


  • Emboldened by his victory in the passage of the biggest U.S. tax overhaul in decades, President Donald Trump now wants to rein in social welfare programs even though some Republicans are wary of tackling the volatile issue in a congressional election year. A White House-led drive to downsize government aid programs such as food stamps and housing subsidies would energize conservative campaign donors whose support Republicans are counting on ahead of the November elections where the party will fight to keep control of Congress.
  • A weaker dollar could be doing the work of global central banks. The greenback begins 2018 after its worst year since 2003, and analysts at Bank of New York Mellon (NYSE:BK) Corp. and Credit Agricole (PA:CAGR) SA say further declines could mean central banks don’t have to tighten monetary policy as much as they may now be planning. The argument goes that by forcing up rival exchange rates.
  • Switzerland’s largest and wealthiest canton saw a three-fold rise in the number of tax cheats turning themselves in during 2017, Zurich officials said on Thursday, as an international accord to share information on offshore wealth takes effect. 6,150 Zurich taxpayers came clean on previously undisclosed assets in 2017, tripling the previous record set in 2016 and helping to disclose 1.3 billion Swiss francs ($1.33 billion) in hidden wealth so far.

Today’s Comex Signal and News








  • Gold extended its rally to a three-month high on Friday, leaping toward its biggest one-year rise in seven years as a wilting U.S. dollar, political tensions and receding concerns over the impact of U.S. interest rate hikes fed into its rally. Gold’s gains coincide with the greenback, in which gold is priced, sliding toward its worst year since 2003, damaged by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump’s election campaign, and persistently low U.S. inflation.
  • U.S. oil prices ended above $60 a barrel in the final trading day of the year on Friday, for the first time in over two years amid signs that a glut in global inventories is easing. U.S. West Texas Intermediate (WTI) crude futures for February delivery tacked on 28 cents, or around 0.47%, to end at $60.12 a barrel. It was the highest close since June 2015. Brent crude futures, the benchmark for oil prices outside the U.S., rose 47 cents or 0.71% to settle at $66.63 a barrel by close of trade.
  • An oil pipeline company established decades ago by Israel and Iran, and a new Israeli company that is meant to replace it, can continue to operate secretly, an Israeli parliamentary committee ruled on Sunday. The Eilat-Ashkelon Pipeline Co (EAPC) was a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil via Israel to the Mediterranean.



  • The head of a conservative Republican faction in the U.S. Congress, who voted this month for a huge expansion of the national debt to pay for tax cuts, called himself a “fiscal conservative” on Sunday and urged budget restraint in 2018. In keeping with a sharp pivot under way among Republicans, U.S. Representative Mark Meadows, speaking on CBS’ “Face the Nation,” drew a hard line on federal spending, which lawmakers are bracing to do battle over in January.
  • President Sergio Mattarella on Sunday urged political parties to make realistic proposals to tackle Italy’s problems, especially joblessness, ahead of an election in March. Although the presidency is largely ceremonial, Mattarella does have the power to pick prime ministers and dissolve parliament, which he did this week to open the way for a March 4 election. “The duty to make adequate proposals – realistic and concrete ones – is a must given the dimension of the problems our country faces,” Mattarella said during a traditional end-year speech broadcast live on national television.
  • Venezuelan President Nicolas Maduro announced a 40 percent increase to the minimum wage as of January, a move that will foment what many economists already consider hyperinflation in the oil-rich but crisis-stricken nation. In his televised year-end address, leftist Maduro said the new wage level would protect workers against what he calls Washington’s “economic war” to sabotage socialism. “Good news!” said the former bus driver and union leader, speaking next to a Venezuelan flag in a midday address.



EUR/GBP – Epic Research Update

EUR/GBP Is a Pair Suited to Current Conditions with Serious Fundamentals Ahead


EUR/GBP has cut out a characterized run in the course of recent months that suits verifiable states of December save well

Enormous picture, late solidification remains as an inversion risk to a significantly bigger pattern

Basics are the missing element for this match, and Brexit is the most striking and underpriced chance ahead


When you consider money combines that are arranging exchange opportunity; sets like EUR/USD, Yen crosses for chance patterns and the Dollar with the FOMC rate choice one week from now are more prevalent focuses of core interest. However, these are not the most powerful open doors in the FX advertise. The interest for these fluid monetary forms and combines is both the recognition and seek after unpredictability – whether through topical or occasion based basics or basically through vague powers. Exchanging further into December mirrors an authentic standard that much of the time sees theoretical waves diligently decrease with occasions of real breakouts and patterns especially uncommon. Seeking after these improbable occasions sets us up measurably on the wrong side of likelihood.

Perfect open doors for ebb and flow conditions will connect the occasional desires for low unpredictability yet can likewise offer impressive plentifulness if the sudden occurs with a solid theoretical wave showing up. The EUR/GBP conversion standard is exceptionally situated to exploit the two states. On the specialized side, the previous three months for the match has cut out a wide yet settled range. In a more mind boggling picture, that time of clog could consider a reasonable shoulder on a generally uneven head-and-shoulders design. No H&S design is genuinely meriting the name without an unmistakable pattern in danger for inversion. EUR/GBP absolutely has such a constant run, to the point that it can turn around with appropriate inspiration. But then, if unmerited this combine could be left to its own particular gadgets to follow out an easy way out that just ranges easily in well build up limits. Essentials speak to a solid grapple for close term limitation. The Brexit vulnerabilities have acted to hold all Pound crosses under tight restraints – whether that limitation has a slope (drift) to it or not.

However, should Brexit discourses advance or lapse, the suggestions are profound for this combine specifically. The Pound’s side of this subject have been as often as possible investigated in exchanging circles, examination and national bank reports. The United Kingdom’s separation from the European Union dangers losing access to the nation’s biggest exchange accomplice if the single market isn’t open for exchange. That worry – and the moderate ebb of dread for that most pessimistic scenario result – has given the greater part of the advance that the Sterling has manufactured, both bullish and bearish. However, what is too much of the time neglected is the way that Brexit represents an existential risk to the Euro-territory and the common cash itself. While the UK isn’t a piece of the money related and managing an account union, its exit from the more extensive EU can fill in as the layout and inspiration for different nations to stick to this same pattern. Also, as it happens some of the Eurozone economies could see the biggest ‘master’ rundown to a length withdrawal.




Today’s Comex News



  • Gold prices turned lower on Wednesday, as upbeat U.S. economic growth data pushed the dollar broadly higher, dampening demand for the precious metal. Comex gold futures was down $7.65 or about 0.58% at $1,287.53 a troy ounce by 09:00 a.m. ET (13:00 GMT). In a second estimate, official data showed that U.S. gross domestic product expanded by3.3% in the third quarter, compared to an initial reading of 3.0%.
  • Oil prices pared losses on Wednesday, after data showed U.S. crude stockpiles dropped more than forecast last week. U.S. West Texas Intermediate (WTI) crude futures were at $57.87 a barrel, down 12 cents, or about 0.2%, by 10:35AM ET (1535GMT). Prices were at around $57.78 prior to the release of the inventory data. Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., dipped 10 cents, or around 0.2%, to $63.14 a barrel.
  • Natural gas futures extended their rally into a third session on Wednesday, as bullish speculators continued to place bets that a return to cold winter weather will boost demand for the heating fuel. U.S. natural gas futures surged 6.0 cents, or around 2%, to $3.189 per million British thermal units by 7:25AM ET (1225GMT). It climbed to its best level since Nov. 13 at $3.206 earlier.




          ECONOMY NEWS

  • The U.S. Justice Department will extend greater leniency to companies that voluntarily alert authorities when they learn employees have paid bribes to foreign officials. The new guidelines will allow most companies to avoid prosecution altogether if they fully disclose foreign bribery, cooperate in the investigation and take steps to avoid future misconduct, senior Justice Department officials told reporters on a conference call on Thursday.
  • The U.S. economy has gathered steam this year and will warrant continued interest rate increases amid a global recovery, Federal Reserve Chair Janet Yellen told congressional leaders on Wednesday. “The economic expansion is increasingly broad based across sectors as well as across much of the global economy,” Yellen said in prepared remarks delivered to the Joint Economic Committee.
  • The Federal Reserve is in early stages of considering “what it would mean” to offer digital currencies sometime in the future and whether it may be necessary as an alternative to cash, a top U.S. central banker said on Wednesday. William Dudley, president of the Federal Reserve Bank of New York, has been publicly asked about the virtual currency bitcoin twice in three days this week and has stressed that prospective investors should be cautious because its value is highly unstable and it is not legal tender.



Tuesday Market Update

US Market :

U.S. stocks fell on Friday as worries about tax reform lingered on Wall Street. Treasury Secretary Steven Mnuchin told CNBC’s “Squawk Box” that he expects a Republican tax reform bill to be sent to President Trump by Christmas. Expectations of tax reform have helped lift U.S. stocks to record levels this year. But the market has seen some turbulence recently, slipping from record highs, as concern remained about whether tax reform could be achieved by year-end.

Europe Market :
European shares failed to end Friday’s trading day on a positive note, closing slightly lower, as investors digested new trading updates and followed the moves seen in markets Stateside.

Precious Metal Gold :
Gold rose on Friday as the dollar softened on uncertainty about the progress of what would be the biggest overhaul of U.S. taxes since the 1980s.

Crude Oil :
Oil prices rose on Friday, retracing much of the week’s losses, which were stoked by concerns about oversupply.

Indices & Commodities :
DJIA: 23,358.24 (-100.12)
S&P500: 2,578.85 (-6.79)
NASDAQ: 6,782.79 (-10.50)
DAX: 12,993.73 (-53.49)
FTSE: 7,380.68 (-6.26)
EuroStoxx50: 3,547.98 (-16.82)
Comex Gold: 1,296.5 (+18.3)
Comex Copper: 3.0670 (+.0190)
WTI Crude Oil: 56.71 (+1.36)
Brent Crude Oil: 62.72 (+1.36)
BMD FKLI: 1715.0 (+1.5)
BMD FCPO: 2712 (-26)

EUR/USD up smalls above 1.16

EUR/USD up smalls over 1.16

* Spot discovered help close to 1.1570, Friday’s low.

* Circumstance in Catalonia having little effect up until this point.

* German blaze CPI, US PCE without hesitation later today

The single cash is exchanging inside limited range toward the start of the week, with EUR/USD figuring out how to recover the 1.1600 handle or more in front of the opening chime in Euroland.

EUR/USD concentrate on information

After two back to back pullbacks, the combine appears to recuperate the grin on Monday around 1.1600 the figure in the midst of some offering predisposition encompassing the greenback.

Plunge purchasers seem to have developed around the 1.1575/70 band, stopping the post-ECB seeping in spot and permitting the continuous bounce back.

On the USD-side, the expanding positive thinking around the Trump’s duty change blurred to some degree against the setting of inner debate among Republicans.

On the situating front, theoretical EUR yearns withdrew to 5-week lows in the week to October 24, as per the most recent CFTC report.

Later in the information space, Spanish and German propelled CPI figures are expected for the present month alongside assessment/certainty gages in the euro range. Over the lake, PCE and individual pay/spending will get all the consideration.

EUR/USD levels to observe

Right now, the combine is up 0.06% at 1.1615 confronting the following up hindrance at 1.1683 (100-day sma) favored by 1.1739 (10-day sma) and afterward 1.1837 (high Oct.26). ON the other side, a breakdown of 1.1575 (low Oct.27) would open the way to 1.1448 (high Jun.30) lastly 1.1249 (200-day sma).


EUR/USD up smalls above 1.16EUR/USD up smalls above 1.16

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