11May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

11may1

                                                                                                  Comex Gold Signal

Comex Gold Signal

11may3

INTERNATIONAL COMEX NEWS

  • Gold prices rose to the highest levels in two weeks on Thursday as the dollar retreated from four-and-a-half month highs as tame U.S. inflation data indicated that the Federal Reserve will stay on track with gradual rate hikes this year. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange rose $9.10 or 0.69% to $1,322.00 a troy ounce by 09:26 AM ET (13:26 GMT), the highest level since April 25.
  • Natural gas futures were higher on Thursday, reaching their strongest levels of the session following the release of weekly storage data. Front-month U.S. natural gas futures jumped 5.3 cents, or around 1.9%, to $2.789 per million British thermal units (btu) by 10:44AM ET (1444GMT). Futures were at around $2.757 prior to the release of the supply data. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 89 billion cubic feet (bcf) in the week ended May 4, compared to forecasts for a gain of 81 bcf.
  • Oil prices touched another three-and-a-half-year high on Thursday, as escalating geopolitical tensions in the Middle East cast further uncertainty about supply disruptions from the region. Brent crude futures, the benchmark for oil prices outside the U.S., at one point touched their highest since November 2014 at $78.00 per barrel. It was last at $77.25 barrel by 9:05AM ET (1305GMT), little changed on the day.

ECONOMY NEWS

  • The U.S. has extended a public hearing on the Trump administration’s proposed tariffs on $50 billion of Chinese goods to accommodate everyone who wants to testify, as both governments continue talks on avoiding a trade war. The hearings, initially set for May 15, will continue on May 16 and May 17 to give about 130 companies and industry groups a chance to share their views about the impact of the planned tariffs, according to the U.S. Trade Representative’s Office.
  • Mexico’s Economy Minister Ildefonso Guajardo on Thursday said he expected to find out within the next two days if a new NAFTA deal with the United States and Canada was possible in the short term. As time runs out to secure some kind of agreement, major differences remain between the three members of the North American Free Trade Agreement.
  • The amount of U.S. commercial paper grew in the week ended May 9 Federal Reserve data showed on Thursday. U.S. seasonally adjusted commercial paper outstanding rose $6.2 billion to $1.059 trillion in the latest week. Non-seasonally adjusted commercial paper outstanding – which some analysts consider a more reliable reading than the seasonally adjusted one since it has been distorted by the financial crisis – rose $2.1 billion to $1.114 trillion.

11may4

11May
eurusd

EUR/USD : Forex Technical Analysis

EUR/USD Technical Strategy: SHORT AT 1.2407

  • Euro posts biggest one-day pick up in a month and a half versus US Dollar
  • Rise seen as restorative inside more extensive down pattern resumption
  • Searching for significant chances to add to short introduction

The Euro figured out how to score the biggest one-day pick up in a month and a half against the US Dollar yet the overwhelming pattern predisposition keeps on favoring on-going shortcoming. Long haul situating recommends the single money denoted the resumption of 10 years in length down pattern with April’s month to month close.

From here, a day by day close over the 61.8% Fibonacci retracement at 1.1937 opens the entryway for a retest of previous help in the 1.2055-92 territory (half level, September 8 high). On the other hand, a move beneath the graph expression point at 1.1825 makes ready for a test of the November 21 low at 1.1713.

11

Short EUR/USD introduction from 1.2407 stays in play. Benefit was set up for half of the underlying exchange when it hit its first target and the rest is dynamic, looking drawback finish. Chances to scale up position will be assessed as they introduce themselves.

 

10May

Trading Volume Jumped to $144million

THE MALAYSIAN stock market has slumped following the shock opposition election victory in Wednesday’s poll which saw Mahathir Mohamad become the world’s oldest elected leader. Trading opened six per cent down on Thursday, following Mahathir Mohamad’s re-election as the country’s Prime Minister. Trading volume jumped to $144million, six times the average daily turnover of the last year.

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After hitting a record high in April amid an increase in foreign inflow, Malaysia’s benchmark FTSE Bursa Malaysia KLCI has gained 2.8 percent this year. The iShares MSCI Malaysia ETF, known as EWM, dropped 6 percent to $32.42, the lowest since December, as trading volume jumped. The NEXT FUNDS FTSE Bursa Malaysia KLCI ETF incorporated in Japan fell 2.1 percent.Malaysia’s stock market, which traded near a record high on the eve of the election, will become more volatile after Mahathir’s victory, Morgan Stanley analyst Aarti Shah wrote in a note. As results signaled a win for Mahathir, iShares MSCI Malaysia ETF based on the nation’s stocks dropped as much as 2.6 percent to the lowest since February.

Malaysia’s stock market will become more volatile after opposition leader Mahathir Mohamad won a stunning victory in the nation’s elections, ending outgoing Prime Minister Najib Razak’s rule.


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9May
forex

Epic Research : Iforex Market Insight

INTERNATIONAL CURRENCY BUZZ

Forex -Dollar Extends Rally amid Heightened Geopolitical Risk
Forex -GBP/USD breaks below 1.3500 handle
Forex -EUR/USD dives farther below 1.19 handle, fresh YTD lows

EUR/USD

The Euro US Dollar (EUR/USD) exchange rate’s struggle could be set to continue this week, with the recent barrage of upbeat US data pulses not expected to let-up. This is largely due to the ongoing economic optimism in the US– with a tightening labour market,  accelerating  inflation  and  steadily  increasing  economic  growth  positioning  the  US  Federal  Reserve  as  the  far  more  hawkish  option  compared  to  the  European Central  Bank  (ECB).  There  was  some  good  news  for  the  bloc,  however,  with  Germany’s run of disappointing ecostats finally coming to an end today with the release of the German industrial production results for March. According to the Federal Statistics Office, industrial production in Germany rebounded after the drop in February, climbing  by  a  whopping  3.2%  year on year,  up  from  the  previous  score  of  2.6%  and the forecast of 3.0%. This climb was largely driven by an accelerated  rise  in the production of high-ticket items and marking a four month high served to put an end the flood of tepid data from Germany in the past few months.

GBP/USD

The GBP/USD is trading at around 1.3500 down 0.5% in Tuesday’s trading as the monetary  policy  divergence between the  US  Federal  Reserve  Bank  and  the  Bank  of England push Sterling lower The US dollar saw a fresh buying wave after a four day consolidation on the US Dollar Index sending the GBP/USD below the 1.3500 psychological level for the second time in the recent bear trend. Greenback was boosted by hawkish comments from Jerome Powell, the Federal Reserve’s chairman, who said that “some investors and institutions may not be well positioned for anticipated US interest rate hikes.” He spoke at an event organized by the Swiss National Bank and the International  Monetary  Fund  in  Zurich  earlier  in  the European  session. On  the other  hand,  the  British  pound  is  very  weak  as  investors  are  expecting  the  Bank  of England to leave rateson hold at the next BoE meeting this Thursday.

9 fx

 

9May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                                Comex Gold Signal

Comex Gold Signal

9may3

INTERNATIONAL COMEX NEWS

  • Oil prices were on the backfoot on Tuesday, pulling back from three-and-a-half-year highs, as investors braced for President Donald Trump’s decision on whether to withdraw from the Iran nuclear deal. Trump will announce his decision, which comes four days earlier than the May 12 deadline, from the White House at 2:00PM ET (1800GMT).
  • A revival in European steel is at risk from U.S. President Donald Trump’s move to impose tariffs on imports, Eurofer said as it raised its 2018 forecast for apparent steel consumption. The consumption figure, which excludes the impact of inventory changes, is set to grow by 2.3 percent, above a previous forecast of 1.9 percent, the European steel association said on Tuesday.
  • Natural gas futures inched higher on Tuesday, adding to gains from the previous session, as updated forecasting models pointed to above-average temperatures covering most of the country through mid-May. That should help boost early summer cooling demand for the fuel. Front-month U.S. natural gas futures tacked on 0.6 cents, or around 0.2%, to $2.747 per million British thermal units (btu) by 10:15AM ET (1415GMT), after ending up 3.0 cents, or 1.1%, in the last session.

ECONOMY NEWS

  • The European Union said it has plans to protect the region’s companies if President Donald Trump announces later on Tuesday that he’s pulling out of the Iran nuclear deal, a move that could further strain trans-Atlantic ties over foreign policy. “We are working on plans to protect the interests of European companies” Maja Kocijancic, EU spokeswoman for foreign affairs, told reporters in Brussels. She declined to elaborate further pending the U.S. president’s statement. “We don’t know what Mr. Trump is going to announce,” she said.
  • The new U.S. Ambassador to the World Trade Organization Dennis Shea told the WTO’s membership on Tuesday that something had gone “terribly wrong” with judges at the world body and that China’s arguments showed it was living in a fantasy. Addressing the WTO’s General Council for the first time, Shea said “something has gone terribly wrong in this system when those charged with adjudicating the rules are so consistently disregarding those very rules,” according to a copy of his remarks provided to Reuters.
  • U.S. President Donald Trump is expected to lay out his plans for the nation’s biofuel policy on Tuesday in a closed door briefing with senators, after months of hearing arguments about the hotly contested regulation, according to two sources. The meeting could bring to an end a tumultuous several months of talks between Big Corn and Big Oil over the future of the U.S. Renewable Fuel Standard, discussions that were mediated by the White House and intended to help oil refiners cope with the costs of the regulation.

9may4

 

 

8May

KLCI Closes Higher Ahead of GE14

Our Malaysia stock market history have shown that there’s always a bull rally during the election period. One of the leading themes for Bursa Malaysia this year would be politics. The expectations for the upcoming elections has ignited a rally and  analysts believe that trading opportunities exist in the pre-election rally. In the past, companies that were government linked were among the big players in the stock market.

  • Blue chips closed on a strong note on Tuesday, the eve of the closely-contested General Election, with local fund buying seen in key stocks including CIMB, Maybank and Axiata.
  • Consumer stocks were among the top gainers. Nestle rose RM1.90 to RM137, Ajinomoto 25 sen higher at RM22.40.
  • CIMB was the biggest mover among the KLCI stocks, gaining 23 sen to RM6.90 and pushed the index up 3.87 points, Maybank gained 16 sen to RM10.70 and nudged the KLCI up 3.14 points while Hong Leong Bank, RHB Bank and Public Bank gained 18 sen each to RM18.62, RM5.27 and RM23.88 respectively. and AmBank climbed four sen to RM3.72.

  • Crude palm oil for third month delivery rose RM9 to RM2,392 per tonne. As for plantations, PPB Group rose 10 sen to RM19.16, KL Kepong two sen higher at RM25.38 and IOI Corp fell two sen to RM4.67. 

  • Most key Asian markets also ended Tuesday on a strong note, with Hong Kong stocks advancing as fears of a full-blown trade war eased on reports that talks between Washington and Beijing will continue.
    GE14_pic1

With election fever heating up, stocks that are politically-linked have started showing signs of strength despite the volatile global market. Coupled with the fact that most stocks have fallen, thanks to the Dow Jones’ steep correction in the last two weeks, it might be a good idea to start positioning oneself in stocks that are deemed beneficiaries of the ruling government.

The FBM KLCI was showing signs of life on Thursday when it added 3.35 points to close at 1,838.28. Year to date, it is now up 2.31% or 41.47 points.Another diversified government-linked company which has seen some action is KUB Malaysia Bhd. While its allure has decreased over the last few years due to staid earnings, the stock continues to garner some interest.The stock is 52.17% owned by Anchorscape Sdn Bhd. At its last price of 44 sen, it is up 5 sen or 12.82% on a year-to-date basis.

At last Friday’s close of 1,786.33, the FBM KLCI is now about 107 points or 5.6% away from its all-time high of 1,893 points posted in July 2014. Year to date, the key index has risen 8.8%.

 

Top 10 Stock watchlist 

1. Axiata Group Berhad (6888.KL)

2. Cahya Mata Sarawak Bhd (2852.KL)

3. Destini Berhad (7212.KL) 

4. DRB-Hicom Berhad (1619.KL)

5. Felda Global Ventures Holding Bhd (5222.KL)

6. Maxis Berhad (6012.KL)

7. My E.G. Services (0138.KL)

8. Prestariang Berhad (5204.KL)

9. UEM Sunrise Berhad (5148.KL)

10. Yinson Holdings Bhd (7293.KL)

8May

Blue Chips Reversed From Early Losses

The ringgit was slightly lower against the US dollar in early trade Tuesday as the greenback strengthened on monetary policy prospects arising from improving oil prices and disappointing US economic reports. As at 9.00 am(0100 gmt), the local unit was quoted at 3.9440/9470 against the US dollar from 3.9430/9460 on Monday.

The overnight US dollar touched its highest level in four months against a basket of other major currencies and amid talk of a symmetric two per cent objective for inflation. Federal Reserve officials, however, said rising US inflation and wage pressures were insufficient to prompt a change in its rate outlook. Meanwhile, the ringgit traded mostly lower against a basket of major currencies It fell against the Singapore dollar to 2.9543/9570 from 2.9502/9538 on Monday, and declined versus the yen at 3.6213/6248 from 3.6082/6112.

7 may

The FBM KLCI index lost 9.97 points or 0.54% on Friday. The Finance Index fell 1.07% to 17949.38 points, the Properties Index up 0.07% to 1070.46 points and the Plantation Index down 0.18% to 7905.71 points. The market traded within a range of 10.92 points between an intra-day high of 1852.75 and a low of 1841.83 during the session. Actively traded stocks include SAPNRG, HSI-H2Z, HSI-C3A, BORNOIL, HSI-C3E, SIME, SAPNRGC58, SAPNRGC64, NEXGRAM and HSI-H4A. Trading volume decreased to 1607.59 mil shares worth RM2119.88 mil as compared to Thursday’s 1671.52 mil shares worth RM2185.10 mil. Leading Movers were SIME (+7 sen to RM2.69), MISC (+7 sen to RM7.12), TENAGA (+8 sen to RM16.08), GENM (+1 sen to RM5.00) and IHH (+1 sen to RM6.01). Lagging Movers were CIMB (-23 sen to RM6.77), ASTRO (-4 sen to RM1.80), YTL (-3 sen to RM1.35), PMETAL (-8 sen to RM4.76) and AMMB (-6 sen to RM3.71). Market breadth was negative with 325 gainers as compared to 525 losers. The KLCI closed lower at 1841.83 points despite overnight mix performance in US market. The performance of our local bourse was bogged down due to selling interest in heavy weight counters led by CIMB.


 

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7May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

7may1

                                                                                               Comex Gold Signal

7may2

7may3

INTERNATIONAL COMEX NEWS

  • Gold prices moved lower in early morning European trade on Friday as investors looked ahead to the U.S. employment report for April and a slightly stronger dollar weighed on the precious metal. Comex gold futures dropped $3.00, or 0.23%, at $1,309.70 a troy ounce by 4:30AM ET (8:30GMT). Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, inched up 0.12% to 90.23.
  • Oil traded near $68 a barrel amid growing expectations that U.S. President Donald Trump will withdraw from a nuclear accord with Iran, threatening crude exports from OPEC’s third-largest producer. Futures in New York were little changed this week. Iranian Foreign Minister Mohammad Javad Zarif accused the U.S. of “bullying” businesses into putting off investments in the Middle East nation, days before Trump decides whether to pull out from the accord.
  • Iran’s hardliners are preparing to bring President Hassan Rouhani to heel if U.S. President Donald Trump scraps Tehran’s nuclear deal with major powers, officials and analysts believe. Trump has threatened to abrogate the 2015 agreement by not extending sanctions waivers when they expire on May 12, if Britain, France and Germany do not “fix” its “terrible flaws”. This sets the stage for a resurgence of political infighting within Iran’s complex power structure, Iranian officials said.

ECONOMY NEWS

  • U.S. interest rate futures rose modestly on Friday, as traders still expect the Federal Reserve to raise key borrowing costs at its June 12-13 policy meeting in the wake of weaker-than-forecast growth in domestic payrolls and wages in April. Nonfarm payrolls increased by 164,000 last month, below the 192,000 gain forecast by analysts in a Reuters poll. Average hourly earnings grew 0.1 percent, less than the 0.2 percent increase expected by economists.
  • Before the financial crisis hit more than a decade ago, the easy way to test the global outlook was to apply the maxim that when the U.S. sneezes the rest of the world catches a cold. Much more relevant now is any potential illnesses from a bout of inward-looking U.S. policy, namely imposing tariffs on steel and aluminum imports while keeping natural trading allies in limbo on whether or not it applies to them.
  • China’s securities regulator on Friday published draft rules on the issuance of China Depositary Receipts, or CDRs, paving the way for domestic flotation of offshore-listed tech giants and the launch of a cross-broader link of exchanges in Shanghai and London. The rules on CDRs, modeled after American depositary receipts (ADRs), came days after the Hong Kong stock exchange adopted new rules to broaden its listing regime, intensifying a battle for listing resources.

7may4

7May
eurgbp-EU-UK-flag-split

EUR/GBP: Forex Technical Analysis

EUR/GBP Technical Strategy: Flat

  • Euro bounce back brings costs toward 2-month high versus British Pound
  • General direction characterized by falling channel set from October 2017
  • Sitting tight for noteworthy flag, enhanced hazard/remunerate setup for exchange

The Euro keeps on creeping upward against the British Pound however the overwhelming value slant keeps on favoring a drawback predisposition for the single money. The match has recouped to the most abnormal amount in almost two months however value activity remains solidly bolted inside a falling channel set from October 2017.

Real protection comes in at 0.8904, the juncture of a previous outline emphasis point and in addition the pattern channel top. A nearby over that affirmed on a day by day shutting premise uncovered the March 7 high at 0.8968. Then again, a turn underneath protection turned-bolster at 0.8797 targets counter-drift bolster at 0.8730.

7-5
Costs are excessively near prompt protection from legitimize entering long from a hazard/compensate point of view. Then again, the nonattendance of an unmistakably characterized beating signal cautions against taking up the short side to wager on bearish pattern resumption prematurely. On adjust, standing aside appears to be most sensible for the present.

 

4May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

4may2

                                                                                             Comex Gold Signal 

4may3

4may4

INTERNATIONAL COMEX NEWS

  • Gold prices moved higher on Thursday, buoyed by a slightly softer dollar but the upside for the precious metal looked likely to remain limited ahead of Friday’s U.S. employment report, which could provide fresh impetus to the dollar. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $4.40 or 0.34% to $1,310.20 a troy ounce by 03:57 AM ET (07:57 AM GMT).
  • Crude prices edged higher in early action on Thursday, shrugging off concerns over a rise in U.S. oil inventories and record weekly domestic production. New York-traded WTI crude futures tacked on 19 cents, or roughly 0.3%, to $68.12 a barrel by 4:00AM ET (0800GMT). It rose 68 cents on Wednesday, bouncing back from earlier weakness that was driven by data showing a larger-than-expected weekly climb in U.S. crude supplies.
  • Reuters reports the latest headlines, citing that Chinaopens trade in Dalian iron ore futures to foreign investors from today. The move is mainly aimed to boost its pricing clout for one of its top imports. “Iron ore is the second commodity China is opening to outside investors after launching crude oil futures in late March.

ECONOMY NEWS

  • A slump in Saudi Arabia’s economy cast a shadow over ambitious plans for reform this week as top officials met businessmen to discuss freeing the kingdom from its dependence on oil exports. At a conference with hundreds of foreign and local bankers and potential investors, ministers said privatizations and partnerships between the government and private companies to build infrastructure projects would begin within months.
  • Europe’s economic slowdown came sooner than expected and factors holding back growth may persist in the near term but the European Central Bank is still making “substantial” progress in lifting inflation, ECB Chief Economist Peter Praet said. Downplaying the impact of weak data, Praet said growth remains solid, the slowdown may be due to exceptional factors, and there are only a few signs that the euro’s appreciation in the past year is weighing on growth.
  • The concept of global excess capacity, commonly used to support the creation of trade defense against China, is imprecise and unsound as a justification for U.S. protectionism, a study by a Swiss-based trade watchdog said on Thursday. Global Trade Alert, an initiative coordinated by Simon Evenett, professor of international trade at St Gallen University in Switzerland, sought to quantify excess capacity, especially in steel, and the damage to global trade.

4may1

 

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