9Oct

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 lower on Monday as the greenback continued to rise on expectations of a Federal Reserve rate increase in December. Comex gold futures for December delivery fell 1.27% to $1,190.30 a troy ounce as of 10:05 AM ET (14:05 GMT),. The precious metal was pushed lower after the jobs report on Friday increased expectations that the Fed will raise rates.
  • Oil prices edged lower on Monday, after the U.S. said it may grant waivers to sanctions against Iran’s crude exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran. November West Texas Intermediate crude, the U.S. benchmark contract, shed 23 cents, or around 0.3%, to $74.11 a barrel at 10:00AM ET on the New York Mercantile Exchange.
  • Iran’s Oil Minister Bijan Zanganeh has dismissed as “nonsense” claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market. “(Mohammed) bin Salman’s remarks and such bragging can only satisfy (U.S. President Donald) Trump. No one else will believe him. Iran’s oil cannot be replaced by Saudi Arabia nor any other country,” Zanganeh was quoted as saying on his ministry’s website.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • India hopes to secure a waiver from U.S. sanctions on Iran before they take effect on Nov. 4, as it had significantly cut Iranian oil imports before the deadline, officials said on Monday. The United States is imposing new sanctions on Iran’s oil industry after Washington withdrew from a nuclear deal between Tehran and other global powers. Washington said on Friday it was considering waivers for nations that were reducing imports of Iranian oil.
  • Emerging markets were “as prepared as they can be” for changes to U.S. monetary policy as the Federal Reserve had been as “transparent” as possible, St. Louis Federal Reserve Bank President James Bullard said in Singapore on Monday. Some emerging markets have come under pressure this year as rising U.S. interest rates have drawn investors away, and due to fears of fall out from an escalating tariff war between the United States and China.
  • Indonesia plans to use meetings between global finance ministers and central bank chiefs on the island of Bali this week to push for more clarity on the path of interest rates in advanced countries, the country’s central bank governor said on Monday. Indonesia and some other emerging economies have been hit hard as investors cut their risk appetite for assets amid a rise in U.S. interest rates and an intensifying trade war between Beijing and Washington.

GOLD TRADING FORECAST TODAY

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8Oct

The FBM KLCI Index Lost 12.96 Points

The FBM KLCI index lost 12.96 points or 0.72% on Friday. The Finance Index fell 0.28% to 17712.12 points, the Properties Index dropped 0.72% to 968.1 points and the Plantation Index down 0.26% to 7482.43 points. The market traded within a range of 11.00 points between an intra-day high of 1787.52 and a low of 1776.52 during the session.

Blog 8 oct 18

 

Actively traded stocks include SAPNRG, MRCB, HSI-C3Q, MYEG, HSI-H4O, YONGTAI, BORNOIL, SANBUMI, HSI-C3P and GBGAQRS-WB. Trading volume decreased to 2054.47 mil shares worth RM1886.26 mil as compared to Thursday’s 2060.71 mil shares worth RM2454.67 mil.

Top 5 8 oct 18

Leading Movers were KLCC (+5 sen to RM7.55), HLBANK (+0 sen to RM20.60), SIMEPLT (+0 sen to RM5.25), KLK (+2 sen to RM25.00) and PBBANK (+2 sen to RM24.98). Lagging Movers were AXIATA (-20 sen to RM4.30), DIALOG (-9 sen to RM3.44), MISC (-13 sen to RM5.80), IHH (-9 sen to RM5.10) and TM (-5 sen to RM3.08). Market breadth was negative with 265 gainers as compared to 639 losers.

 


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8Oct

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 rose on Friday as the greenback pared back earlier gains after September’s jobs numbers came in lower than expected. Comex gold futures for December delivery rose 0.52% to $1,207.80 a troy ounce as of 10:20 AM ET (14:20 GMT),. The U.S. economy created less jobs than expected in September, but unemployment reached a 48-year low, indicating the economy was at full-employment.
  • Oil prices rose back toward four-year highs on Friday as traders anticipated a tighter market due to U.S. sanctions on Iran’s crude exports. Benchmark Brent crude oil (LCOc1) was up 30 cents a barrel at $84.88 by 0930 GMT. On Thursday, Brent fell by $1.34 a barrel or 1.6 percent, but the contract remains on course for a gain of around 2.5 percent for the week. U.S. light crude (CLc1) was up 50 cents at $74.83, reflecting a gain of more than 2 percent since last Friday.
  • The United States and the European Union must quickly flesh out their aim of cutting trade barriers, German Economy Minister Peter Altmaier said ahead of an EU trade meeting on Friday. U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed in July to hold back on threatened 25-percent car tariffs while the United States and Europe talked about cutting other trade barriers.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Asset management and investment firms make up about half of the more than 100 finance companies that have applied to set up or extend operations in Ireland as a result of Brexit, the state agency competing to win foreign business said on Friday. The head of Ireland’s central bank said on Thursday that it is processing over 100 Brexit-related applications to authorize firms across sectors including investment management, banking, trading venues, payments and insurance.
  • U.S. job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 percent, pointing to a further tightening in labor market conditions. The Labor Department’s closely watched monthly employment report on Friday also showed a steady rise in wages, suggesting moderate inflation pressures, which could ease concerns about the economy overheating and keep the Federal Reserve on a path of gradual interest rate increases.
  • The United States is likely to succeed in shutting down the World Trade Organization’s supreme court because other WTO members are powerless to stop it, diplomats, lawyers and officials said at a conference in Geneva on Friday. The United States has blocked appointments of judges to the Appellate Body, throwing the WTO into crisis as it runs out of legal muscle to rule on international trade disputes.

COMEX GOLD SIGNAL

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5Oct

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

  • Oil prices retreated from four-year highs on Thursday, a day after data pointing to the largest biggest build in U.S. crude stockpiles since March 2017 and reports that Russia and Saudi Arabia reached a private agreement last month to increase oil output. London traded Brent crude futures were down 0.44% to $85.90 a barrel from their last close, pulling back from the high of $86.74 reached Wednesday, the most since November 2014.
  • Gold prices rose to fresh two-week highs on Thursday as the dollar reversed early gains and U.S. stocks opened lower as a spike U.S. bond yields weighed, bolstering safe haven demand for the precious metal. December gold futures were up $4.90 or 0.4% to $1,207.70 by 09:59 AM ET (13:59 GMT) on the Comex division of the New York Mercantile Exchange, the highest since Sept. 24.
  • Oil prices on Thursday slipped from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. Brent crude oil futures (LCOc1) were trading at $86.14 per barrel at 0651 GMT, down 15 cents, or 0.2 percent, from their last close. Brent on Wednesday hit a four-year high of $86.74 a barrel, lifted by expectations of a tightening market ahead of U.S. sanctions that will target Iran’s oil exports from next month.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Federal Reserve Vice Chair Randal Quarles said on Thursday the world’s central banks, including the Fed, risked “quite bad” outcomes if they let themselves be influenced by political considerations. “The outcomes of central banking, particularly in monetary policy, but also in financial regulation, can turn out to be quite bad if they are too subject to the political pressures of the moment,” Quarles said at a community banking conference in St. Louis.
  • The dangers linked to Brexit for Europe continue to be underestimated, European Central Bank policymaker Ewald Nowotny said on Thursday. “In Europe we have … the challenges emerging from Brexit,” Nowotny, who sits on the ECB’s Governing Council as the head of Austria’s central bank, told a conference on financial supervision.
  • European regulators need to be braced for financial market volatility if very clear progress is not evident in Brexit negotiations by November, Irish Central Bank Governor Philip Lane said on Thursday. “If in the coming weeks the probability of a hard Brexit goes up, that can be in itself damaging even if it ends up to be okay by the end of March (when Britain leaves),” Philip Lane, who is also a member of the European Central Bank’s Governing Council, told an Irish parliamentary committee.

GOLD TRADING FORECAST TODAY

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5Oct

KLCI Index Lost 6.19 Points

The FBM KLCI index lost 6.19 points or 0.34% on Thursday. The Finance Index fell 0.02% to 17761.59 points, the Properties Index dropped 0.35% to 975.09 points and the Plantation Index down 0.11% to 7502.22 points. The market traded within a range of 10.36 points between an intra-day high of 1798.24 and a low of 1787.88 during the session.

Actively traded stocks include SAPNRG, MYEG, HSI-C3P, HSI-C3Q, SANBUMI, VS-WA, PWORTH, HSI-C3O, HIBISCS and ORION. Trading volume decreased to 2060.71 mil shares worth RM2454.67 mil as compared to Wednesday’s 2339.82 mil shares worth RM1993.33 mil.

5 OCt

 

Leading Movers were PMETAL (+20 sen to RM5.16), SIME (+2 sen to RM2.65), HLFG (+12 sen to RM19.36), CIMB (+1 sen to RM6.06) and HLBANK (+2 sen to RM20.60). Lagging Movers were AXIATA (-12 sen to RM4.50), MAHB (-18 sen to RM8.60), HARTA (-12 sen to RM6.42), MISC (-11 sen to RM5.93) and KLCC (-10 sen to RM7.50). Market breadth was negative with 317 gainers as compared to 528 losers.

The KLCI slid and closed lower at 1790.11 points despite overnight gains in US market. The performance of our local bourse was in line with our regional peers following 10-years US yield climbed to a record high of 3.18 since 2011.

 


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4Oct

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 held steady near two-week highs on Wednesday, remaining supported above the psychologically important $1,200 level even as fears over Italy’s budget woes faded, bolstering risk appetite. December gold futures were little changed at $1,207.9 by 09:39 AM ET (13:39 GMT) on the Comex division of the New York Mercantile Exchange. Prices of the yellow metal remained supported even after reports that Italy appeared to be revising its budget plans.
  • The aluminum market risks being thrown back into turmoil after the world’s largest refinery of a key raw material shut down. Norsk Hydro ASA said it will temporarily close the Alunorte alumina refinery in Brazil because of a long dispute over waste treatment. The plant was already running at just 50 percent capacity. The stoppage will increase the scarcity of alumina — a key ingredient for producing aluminum — and raising the possibility of higher metal prices filtering through the global supply chain, which would affect manufacturers like automakers and canned drink suppliers.
  • Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices. “President Trump considers that the price is high; he’s partly right, but let’s be honest,” Putin said at the Russian Energy Week conference in Moscow on Wednesday. “Donald, if you want to find the culprit for the rise in prices, you need to look in the mirror.”

COMEX GOLD SIGNAL

ECONOMY NEWS

  • European Union banks need access to London’s clearinghouses to manage the potential market turmoil of a no-deal Brexit, and lawmakers in Brussels should make sure they have it, according to the bloc’s financial watchdog. Steven Maijoor, chairman of the European Securities and Markets Authority, said a transitional access deal is needed so EU banks and trading venues aren’t cut off from firms such as LCH Ltd., the most important clearinghouse for euro denominated interest-rate swaps.
  • Banks doing business in Estonia, which has been at the center of a money-laundering scandal involving Danske Bank , handled more than $1 trillion in cross-border flows between 2008 and 2017, according to the country’s central bank. The European Union member country has been rocked by revelations that banks there laundered money from Russia, Moldova and Azerbaijan via non-resident bank accounts. The scandal has forced lenders in Estonia and neighboring Latvia to shut down.
  • The U.S. economy appears strong but eventually might face shocks such as a “political crisis” or an abrupt and difficult exit by Britain from the European Union, Richmond Federal Reserve President Thomas Barkin said on Wednesday. Barkin’s remarks come as economists and U.S. central bankers increase their focus on the prospects for a U.S. recession.

COMEX GOLD SIGNAL

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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
forex-transaction-basics-limelight-generated-thumb

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

 

 

For More Details: https://goo.gl/Rjgg6N

 

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

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