31May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

31may1

                                    Comex Gold Signal

31may2

INTERNATIONAL COMEX NEWS

  • Gold prices inched up on Wednesday, as political uncertainty in Italy continued. Comex gold futures for June delivery were up 0.12% to $1,300.60 a troy ounce as of 10:32 AM ET (14:32 GMT). The price of gold moved higher as Italy’s political crisis deepened. Last minute efforts to form a government seem unlikely, with the prospect of elections in July. Investors fear a snap election could become a de facto referendum on the euro.
  • Natural gas futures fell for the third day in a row on Wednesday, as weather forecasting models continued to predict that milder temperatures will cover the eastern part of the United States by the second week of June. That will likely limit early summer cooling demand for the fuel. Front-month U.S. natural gas futures slumped 2.7 cents, or around 1%, to $2.876 per million British thermal units (btu) by 9:30AM ET (1330GMT), sitting around its lowest since May 22.
  • OPEC’s plans to boost output have spooked oil market bulls, who are starting to seek protection at levels well below the current futures price in case the group delivers a rapid increase in production. Volatility – a gauge of demand for a particular option – has risen sharply for bearish sell options at around $67 a barrel that expire immediately after OPEC’s meeting with its partners that will run from June 22-23.

ECONOMY NEWS

  • Thousands of Jordanians heeded a strike call by unions on Wednesday to protest at major, IMF-guided tax rises they say will worsen an erosion in living standards. Unions declared the walkout earlier this week, warning the government that sweeping tax amendments sent to parliament this month would impoverish employees already hit by unprecedented tax hikes implemented earlier this year.
  • A European industry lobby told Prime Minister Theresa May on Wednesday the bloc and Britain needed trade “frictionless as with a customs union” after Brexit, adding to discussions in London on what future deal to seek. The European Round Table of Industrialists (ERT), which brings together around 50 European companies from Germany’s energy giant E.ON (DE:EONGn) to the Dutch publisher Wolters Kluwer (AS:WLSNc), also issued a warning during their meeting with May.
  • The Bank of Canada (BoC) decided to keep its benchmark interest rate unchanged on Wednesday. As expected, the BoC said it was holding its overnight cash rate steady at 1.25%. The bank rate is correspondingly 1.5% and the deposit rate is 1% The central bank has raised rates three times since July 2017, but has now taken no action for three consecutive meetings, as the economy has gotten off to a mediocre start in 2018 compared with last year’s robust growth rate.

31may4

30May
438174_4c36_7

Epic Research : Forex Market Insight

INTERNATIONAL CURRENCY BUZZ
Forex -US Dollar Rally, Euro Fall Continue as Crisis Fears Begin to Flare
Forex -Euro Bounces From Day’s Lows, Remains under Pressure
Forex -GBP/USD recovers a major part of early lost ground to 6 month lows

 

EUR/USD

The euro bounced off the worst levels of the day on Tuesday after comments by the leader of Italy’s Five Star political party calmed investors’ concerns over the prospect of an Italian exit from the euro zone. EUR/USD was trading at 1.1553 by 06:41 AM ET (10:41  AM  GMT),  still  down  0.58%  for  the  day  after  falling  as  low  as  1.1511  earlier, the weakest since July 20, 2017. The single currency found some support after Italy’s Five Star leader Luigi Di Maio said in comments on Facebook that he never sought a euro  exit.  The  comments  came  as Italian  bond  yields rose  rapidly  amid  a  deepening political crisis which sparked  fears over a euro zone breakup. Italy’s President Sergio Mattarella  blocked  the  nomination  of  a  euro  sceptic  finance  minister  on  Sunday,  prompting Italy’s populist parties to abandon their bid to form a coalition government  and  paving  the  way  for  fresh  elections  later  this  year.  Investors  fear  that  fresh elections  could  be  seen  as  a referendum on  Italy’s  role  in  the  European  Union  and may end up bolstering anti euro parties even more.

GBP/USD

The GBP/USD pair recovered around 80 pips from session lows and has now pared a major  part  of  its  early  steep  decline  to  6 month  lows.  The  pair  managed to  find  decent support near the 1.3200 handle, with a modest US Dollar retracement from the 95.00 neighborhood,  or  fresh  yearly  tops,  prompting  some  short covering  move amid  near term  oversold  conditions.  Meanwhile, possibilities  of  some  short term trading  stops  being  triggered,  on  a  sustained  move  back  above  mid 1.3200s,  could also be one of the factors behind the latest leg of sharp uptick over the past hour or so. It  would  now  be  interesting  to  see  if  the  pair  is  able  to  build  on  the  momentum and  jump  back  above  the  1.3300  handle  amid  uncetainty  surrounding  impending Brexit  talks. From  a  technical  perspective,  the  pair  is  rebounding  from  a  support marked by a short term descending trend channel formation on short term charts.

 

30

24May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices were lower on Wednesday, as investors looked ahead to the meeting minutes of the Federal Reserve and the dollar strengthened. Comex gold futures for June delivery were down 0.24% to $1,288.90 a troy ounce as of 10:34 AM ET (14:34 GMT). Investors are looking ahead to the latest meeting minutes from the Federal Reserve. Theminutes are set to be released at 2:00 PM ET (18:30 GMT). Investors will be looking closely for any sign of tightening monetary policy.
  • Sinopec, Asia’s largest refiner, will boost U.S. crude oil imports to an all-time high as China tries to reduce its trade deficit with the United States, two sources with knowledge of the matter said on Wednesday. The company’s trading arm Unipec has bought 16 million barrels, or about 533,000 barrels per day (bpd), of U.S. crude to load in June, they said, the largest volume ever to be lifted in a month by the company.
  • The natural gas market is in a coma. I don’t mean gas prices are low, per se; a market can be in the pits but still jump around like a frog in a sock from day to day. Rather, gas prices appear utterly unresponsive even to defibrillator-like stimuli. Consider April. Last month was the coldest April in 21 years. With all those boilers staying switched on, the Energy Information Administration estimates, preliminarily, that only 22 billion cubic feet of natural gas made it into storage for next winter – the smallest April injection in 35 years.

ECONOMY NEWS

  • The International Monetary Fund kept its forecast for Russian economic growth this year steady at 1.7 percent despite Western sanctions against Russia, the IMF said on Wednesday. The IMF’s mission chief to Russia, Ernesto Ramirez Rigo, said the sanctions imposed on Russia were not the only factor in the IMF’s calculation and that it also took into account oil prices that were currently higher than the fund expected.
  • The European Central Bank’s 2.55 trillion euro ($2.99 trillion)bond purchase program has achieved what it could and the bank can now afford to wind it down, Governing Council member Jozef Makuch told reporters on Wednesday. Makuch added that he was confident inflation would rise in the coming years and would hit the ECB’s elusive target of almost 2 percent in 2020-2021. “The crucial thing is that we are returning to normal, to normal policies,” he said.
  • President Donald Trump said a trade agreement with China may be “too hard to get done” and that the world’s two largest economies may need to change their framework for a deal. “Our Trade Deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion,” Trump said on Twitter on Wednesday.

Comex Gold Signal

24May

FBM KLCI Below The 1,800 Level

Foreign funds have battered the stock market and sent the FBM KLCI below the crucial 1,800 level early Thursday with more downside seen especially with the shocking RM1 trillion national debt.
The ringgit was unchanged against the US dollar in early trade Thursday the absence of fresh direction and on subdued demand for the local note, amid the firmer greenback, dealers said. 
OANDA Head of Trading in Asia-Pacific Stephen Innes said the ringgit remained mired in political risks as the market tried to understand the new government’s plan to deal with the fiscal deficit after repealing the Goods and Services Tax. Meanwhile, the local unit traded mixed against a basket of currencies. The ringgit weakened against the Singapore dollar to 2.9629/9677 from Wednesday’s 2.9606/9653, but appreciated against the yen to 3.6287/6340 from 3.6311/6369.

 

  main-qimg-5b70ffeffd2161888cd1103c76c3b669


MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, while Japan’s Nikkei stock index was 0.6 percent lower.
A day after U.S. President Donald Trump said he was not pleased with trade talks between the United States and China, he called for “a different structure” in any trade deal. The move added to uncertainty over the negotiations and prompted a fall in stock markets.

  • The Dow Jones Industrial Average rose 0.21 percent to 24,886.81, the S&P 500 gained 0.32 percent to 2,733.29 and the Nasdaq Composite added 0.64 percent to 7,425.96.
  • The two-year treasury note yield, which rises with traders’ expectations of higher Fed fund rates, was at 2.5282 percent.
  • The yield on benchmark 10-year Treasury notes fell back below the 3-percent threshold to 2.999 percent, compared with its U.S. close of 3.003 percent on Wednesday.
  • Australian shares were 0.1 percent lower, extending losses into a sixth consecutive session on weak prices for iron ore and oil. New Zealand’s benchmark S&P/NZX 50 index was 0.4 percent higher.
  • U.S. crude was flat at $71.83 a barrel. Oil prices fell on Wednesday after an unexpected rise in U.S. crude and gasoline inventories.
  • Brent futures stood at $79.80 a barrel. Last week, the global benchmark rose above $80 for the first time since November 2014.
  • The most-traded iron ore futures on the Dalian Commodity Exchange closed 0.7 percent lower on Wednesday.
  • The dollar was down 0.25 percent against the yen to 109.78.
  • The euro was up 0.1 percent on the day at $1.1706. The dollar index, which tracks the greenback against a basket of six major rivals, was 0.1 percent lower at 93.894.
  • Emerging market currencies are in the spotlight after Turkey’s central bank raised interest rates by 300 basis points to support a plunging lira.
  • The bank, which had been scheduled to hold its next policy-setting meeting on June 7, said it had increased its top interest rate to 16.5 percent from 13.5 percent.
  • The lira has fallen about 20 percent so far this year to a series of record lows, but the currency reversed course after the central bank decision. It was last down 0.2 percent at 4.5790 to the dollar.
  • Gold was slightly higher. Spot gold was traded at $1295.51 per ounce.

 

22May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

Comex Gold Signal

                                                                                             Comex Gold Signal

Comex Gold Signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices were paring losses in midmorning trade on Monday as investors evaluated mixed messages with regard to U.S. trade. At 10:33AM ET (14:33GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down $3.70, or around 0.3%, to $1,287.60 a troy ounce, well off an intraday low of $1281.20. China and the U.S. agreed to halt imposing punitive import tariffs as negotiators set up a framework to address trade imbalances.
  • Brent oil prices fell on Monday, while U.S. crude oil prices continued to rise amid news of sanctions against Iran and the U.S. and China halting trade tariffs. Secretary of State Mike Pompeo said in an interview that the U.S. would demand major changes in Iran following America’s withdrawal from the nuclear deal, with the possibility of even tougher sanctions. The withdrawl from the Iran deal has left investors on edge, as Iran supplies about 4% of global oil.
  • Oil prices rose on Monday morning in Asia, boosted by news that China and the U.S. have put a looming trade war “on hold”. Crude Oil WTI Futures for June delivery were trading at $71.90 a barrel at 11:10PM ET (03:10 GMT), up 0.74%. Brent Oil Futures for July delivery, traded in London, were also up 0.74% at $79.09 per barrel.

ECONOMY NEWS

  • The U.S. and China declared a truce in their trade dispute over the weekend, but that will prove temporary if the world’s two largest economies fail to deliver on their vague commitments to re-balance trade. “We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said Sunday after the two sides released a joint statement a day earlier. “Right now, we have agreed to put the tariffs on hold while we execute the framework.”
  • With about two weeks left until what may be the final deadline for a new Nafta this year, Mexico and Canada are signaling there’s a deal to be had — if President Donald Trump wants one. U.S. Treasury Secretary Steven Mnuchin, speaking in a Fox News interview on Sunday, said the Trump’s priority is getting a good deal, even if it means disregarding “any deadlines” to let current lawmakers approve on it. That would leave a vote to the next Congress, which Trump’s Republican Party may no longer control after November’s midterm elections.
  • Potential policy changes under a government being formed in Italy are creating a lot of nervousness but it is necessary to wait to see what is put in practice, ECB governing council member Ewald Nowotny said on Monday. “It is something that creates a lot of nervousness, but of course on the other hand one has to wait. We do not see the effect of measures, we don’t see what really comes out of it,” he said a conference in Prague.

Comex Gold Signal

21May
17421

Euro Forecast

21-5

Crucial Forecast for EUR/USD: Neutral

- The Euro devalued against the majority of the other seven noteworthy monetary forms, with EUR/CHF (- 1.64%) and EUR/USD (- 1.45%) driving the decrease.

- The preparatory May Eurozone PMI readings aren’t set to enhance, giving little explanation behind the Euro’s downtrend to end.

- The IG Client Sentiment Index is by and by proposing to offer EUR/USD after late moves in theoretical situating.

The Euro was the most exceedingly bad performing real cash a week ago, with EUR/CHF (- 1.64%) and EUR/USD (- 1.45%) driving the decrease. A modification lower to the last April Eurozone CPI report combined with signs that the United States would stay away from noteworthy exchange question with China sapped interest for the low yielding Euro.

Simultaneously, the essential background for the Euro remains rather feeble. The Citi Economic Surprise Index, a check of financial information force, shut a week ago at – 91.7, still somewhere down in a negative area (albeit no longer at its weakest perusing since September 2011). This is a slight change from seven days back (- 97.9) yet not over the previous month (- 90.0).

Swelling desires aren’t showing improvement over information force, both of which have been consistently disintegrating lately. The 5-year, 5-year expansion swap advances completed Friday at 1.702%, down from 1.714% seven days sooner. Swelling desires topped for this present year on January 22, when the 5-year, 5-year rate was 1.774%.

No doubt this would be tantamount to a period as ever for swelling desires to turn higher (in the event that they mean to in the close term), given that Brent raw petroleum costs having been mobilizing and Euro quality isn’t as articulated as it once might have been (Euro exchange weighted file is just up +4.77% from a year sooner; a month prior, it was nearer to +9%).

The week ahead guarantees couple of chances for the bearish account that has concealed the Euro in the course of recent weeks to vanish. Remotely, any determination to the implied China US exchange war would apparently be US Dollar positive, reflecting the underlying negative response to when the exchange collaboration ended up stressed.

Inside, the main noteworthy information due out are the underlying May PMI readings. The blend of individual nation discharges toward the beginning of the week will come full circle in stale readings in the combined Eurozone PMIs due out on Wednesday (no change or decreases are expected). Somewhere else, political hazard is on the ascent now that Italy has another administration: Italian security yields and credit default swap spreads have been ascending since the news broke toward the beginning of May.

In conclusion, there is as yet a striking net-long Euro position in the fates showcase. Examiners still held +115.1K contracts during that time finished May 15, a – 24% decay from the untouched high set amid the week finished April 17 (+151.5K contracts). While this is turning into a less troublesome a circumstance for the Euro, the easiest course of action for the Euro stays towards shortcoming if situating trimming proceeds.

 

21May

The FTSE Bursa Malaysia KLCI Index Rose 0.6 %

The FBM KLCI index gained 0.06 points or 0.00% on Friday. The Finance Index increased 0.05% to 18328.29 points, the Properties Index up 1.00% to 1086.65 points and the Plantation Index down 0.17% to 7922.24 points. The market traded within a range of 8.62 points between an intra-day high of 1862.19 and a low of 1853.57 during the session. Actively traded stocks include MYEG, SAPNRG, NEXGRAM, WCT, NETX, HUBLINE, MRCB, HIS-C3B, EDEN and EDUSPEC. Trading volume decreased to 2915.52 mil shares worth RM3162.50 mil as compared to Thursday’s 3329.08 mil shares worth RM3783.83 mil. Leading Movers were NESTLE (+300 sen to RM145.00), TM (+10 sen to RM4.88), MAXIS (+11 sen to RM5.78), PPB (+18 sen to RM19.98) and AMMB (+3 sen to RM3.53). Lagging Movers were PMETAL (-23 sen to RM4.73), ASTRO (-7 sen to RM1.55), YTL (-2 sen to RM0.99), GENTING (-15 sen to RM8.67) and KLCC (-13 sen to RM7.80). Market breadth was negative with 380 gainers as compared to 607 losers. The KLCI closed flat with 0.06 points higher at 1854.50 points amid lack of local catalyst despite overnight retreat in Wall Street.

21 may report


 

Join Our Whatsapp for news updates related to the market - https://goo.gl/XudT4X

Join our network of successful traders for FREE TRIal of 3 Days https://chat.whatsapp.com/Bg7KVUAxHEwImiQmnftjTD


18May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

18may1

                                                                                                Comex Gold Signal

18may2

18may3

INTERNATIONAL COMEX NEWS

  • Gold prices continued near December-lows on Thursday, as a stronger U.S. dollar and bond yields kept the price of bullion lower. Comex gold futures for June delivery were down 0.17% to $1,289.30 a troy ounce as of 10:25 AM ET (14:25 GMT). The price of bouillon was driven lower by the rise in the greenback and increase in bond yields. . The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.10% to 93.36. Gold is denominated in the U.S. currency and becomes more expensive for holders of other currencies when the dollar rises.
  • The U.S. Energy Information Administration said in its weekly report thatnatural gas storage in the U.S. increased by 106 billion cubic feet in the week ended May 11, compared to forecasts for a build of 105 billion. Thursday’s data compared with a gain of 89 billion cubic feet (bcf) in the preceding week and represented a decline of 821 billion from a year earlier and was also 501 bcf below the five-year average.
  • Crude prices moved higher in midmorning trade Thursday as increased tensions over Iranian oil exports and the economic situation in Venezuela provided a backstop for the bulls. New York-traded West Texas Intermediate crude futures gained 45 cents, or about 0.6%, to $71.94 a barrel by 10:19AM ET (14:19GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up 66 cents, or roughly 0.8%, to $79.94 a barrel.

ECONOMY NEWS

  • Mexico’s Economy Minister Ildefonso Guajardo said on Thursday that there is no date set for the next North American Free Trade Agreement (NAFTA) ministerial meeting, but added that his technical negotiating team was in Washington. Guajardo said that he could not rule out that talks with the United States and Canada to rework the trade accord continue after Mexico’s July 1 presidential election.
  • The European Union is ready to negotiate opening its markets wider to U.S. imports including cars, in a bid to avert a potential trade war with Washington, EU leaders said on Thursday. U.S. President Donald Trump has imposed import duties of 25 percent on steel and 10 percent on aluminium on grounds of national security but has granted EU producers an exemption until June 1 pending the outcome of talks.
  • Trade tensions may be starting to hold back global merchandise trade, the World Trade Organization said on Friday, as it published an outlook indicator showing growth was above trend this quarter but slowing down. The World Trade Outlook Indicator (WTOI), a composite published since the third quarter of 2016, showed a reading of 101.8 compared to 102.3 in February.

18may4

17May

Bursa Malaysia Moved Up Slightly

At 5pm, the KLCI was down 3.82 points or 0.21% to 1,854.44 in late selling. Turnover was 3.33 billion shares valued at RM3.78bil. The broader market weakened as decliners led advancers 570 to 438 and 333 counters unchanged. The new government’s move to abolish the Goods and Services Tax by reducing it to zero had caused concern among credit agencies on how the government could narrow the fiscal deficit.

Bursa Malaysia moved up slightly in morning trade as the central bank announced the economy had expanded at a slower pace of 5.4% in the first quarter of this year. The FBM KLCI put on 4.91 points to 1,863.17. Turnover was 1.63 billion shares with a value of RM1.52bil. There were 412 advancers compared to 406 decliners and 349 counters unchanged. The 30-stock index was lifted by Petronas counters with Petronas Chemicals adding nine sen to RM8.71 and Petronas Gas rising 42 sen to RM17.92.

 

17 may report

Consumer giant Nestle led consumer stocks higher with an RM1.40 gain to RM142.90 following news that the government had zero-rated the Goods and Services Tax. Genting counters also saw a lift with Genting advancing 12 sen to RM8.81 and Genting Malaysia putting on 26 sen to RM5.24. Banks took a step back as Public Bank slipped two sen to RM24.48, CIMB dropped three sen to RM6.83, RHB dipped one sen to RM5.44 and Ambank slid one sen to RM3.57. Maybank remained unchanged at RM10.86. At 3.30pm, MyEG tumbled 37.5 sen to 89.5 sen with 365.24 million shares done. It hit limit down when it fell to a low of 89 sen. It is connected with the previous ruling party.  George Kent was down 46 sen to RM1.48 with 86.92 million shares done. It fell to a low of RM1.47. The FBM KLCI rose 4.8 points or 0.26% to 1,863.06. Turnover was 2.30 billion shares valued at RM2.34bil. There were 400 gainers, 529 losers and 336 counters unchanged.

 


 

15May

TODAY’S COMEX GOLD SIGNAL AND DAILY REPORT

15may1

                                                                                                  Comex Gold Signal

15may2

15may3

 

INTERNATIONAL COMEX NEWS

  • Gold prices were little changed on Monday as the dollar opened the week slipping against the other major currencies amid sagging U.S. 10-year Treasury yields. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down 0.3, or 0.02%, to $1,320.2 a troy ounce by 1:02AM ET (05:02 GMT). Meanwhile, the U.S. Dollar Index that tracks the greenback against a basket of six major currencies last stood at 92.28, down 0.17%. The greenback reached this year’s new high last Wednesday at 93.22, then lost its rally to drop to the 92 level on Monday.
  • As 9 pm approaches every weekday night in China, a small army of individual investors from around the country log onto trading apps on their mobile phones and laptops. Wall Street may be about to open but these night owls are interested in trading something much closer to home – the new Shanghai crude oil futures contracts <0#ISC:> that were launched in late March.
  • Oil prices shook off earlier weakness to trade higher on Monday, after OPEC said a global glut has been virtually eliminated thanks in part to ongoing OPEC-led supply cuts and fast-rising global demand. OPEC said in its monthly report published earlier that oil inventories in developed nations in March fell to 9 million barrels above the five-year average. That’s down from 340 million barrels above the average in January 2017.

ECONOMY NEWS

  • Britain’s foreign minister Boris Johnson said on Monday he will discuss ways to protect companies doing business with Iran at a meeting with counterparts from France and Germany on Tuesday after U.S. President Donald Trump pulled out of the Iran nuclear deal. “What we are going to do tomorrow in Brussels is we are going to have a conversation about what we can do to help UK firms, European firms have some confidence that they can still do business,” Johnson said.
  • Top banks in London have begun lobbying to improve the European Union’s existing system of market access after the bloc’s officials dismissed British calls for a bespoke Brexit deal. Despite the scepticism in Brussels, the British government and financial lobbies TheCityUK, City of London financial district and UK Finance banking lobby, are unified in backing a “mutual recognition” blueprint for EU market access after Britain’s departure from the bloc next March.
  • European Central Bank policy maker Francois Villeroy de Galhau said the institution’s first interest-rate increase could come “at least some quarters, but not years” after policy makers end their bond-buying program. In an interview in Paris, the French central banker played down concerns about the euro area’s first-quarter economic slowdown and signaled that the ECB is still likely to halt quantitative easing this year. He said inflation will resume its acceleration in coming months, with underlying price pressures set to strengthen as the bloc’s temporary weakness passes.

15may4

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.