24Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

Comex Gold Signal

COMEX GOLD SIGNAL

 

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • U.S. crude oil prices were steady on Monday after U.S. President Donald Trump warned Iran over Twitter on Sunday night. West Texas Crude oil futures rose 0.31% to $68.47 a barrel as of 10:42 AM ET (14:42 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.63% to $73.53. Prices surged earlier in the session after Trump warned Iranian President Hassan Rouhani on Sunday to “never, ever threaten the U.S. again,” or Iran would “suffer the consequences.”
  • Oilfield services provider Halliburton Co (N:HAL) on Monday reported a 24 percent increase in quarterly revenue, narrowly beating analysts’ estimates, as higher oil prices sparked a surge in U.S. crude production activity. Halliburton has benefited from soaring U.S. oil production, which reached a record 11 million barrels per day in July, according to a government estimate.
  • The world’s largest oil companies are pumping more natural gasthan ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions. This marks a shift over the past decade for an industry that once focused predominantly on crude oil, with gas in most cases an after-thought. Now, the rise of gas-powered electric generation, surging production from U.S shale fields and the burgeoning liquefied natural gas (LNG) industry that makes shipping the fuel possible, have conspired to create a boom.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • Real gross-domestic-product growth in the country slipped 0.1 percentage points to 6.7% in the second quarter, the statistics bureau reported Monday, a pace not seen since 2016. That is still over the government’s target of around 6.5%, and year-over-year growth remained at 6.8%. The fall was widely expected after Chinese policymakers began a campaign to curb financial leverage last year, which analysts say has weighed heavily on growth.
  • Canada’s economic growth is strong and some housing market vulnerabilities have improved, but trade policy is a big risk to the outlook and the government should reform taxes to boost corporate competitiveness, the OECD said on Monday. The Paris-based Organisation for Economic Co-operation and Development said while GDP growth is projected to remain robust, with exports underpinned by strong global demand, rising rates will sap some consumer strength.
  • China will adopt a more vigorous fiscal policy to help tackle external uncertainties without resorting to strong policy stimulus, state radio said on Monday, citing the cabinet. Slowing economic growth has sparked a heated debate among government researchers on whether fiscal policy should play a bigger role in softening the impact of a trade war with the United States. “The proactive fiscal policy will become more active,” state radio cited a statement issued after a cabinet meeting, chaired by Premier Li Keqiang, as saying.

COMEX GOLD SIGNAL

 

 

23Jul

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

  • Metal prices were higher Friday as the dollar moved sharply lower after President Donald Trump said higher interest rates and the strength of the greenback were hampering economic growth. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $8.10, or 0.66%, to $1,232.30 a troy ounce from a session low of $1.215.50.
  • The U.S. oil and gas industry is lobbying against tighter sanctions on Russia that could impact U.S. investments there, congressional sources said on Friday. The U.S. Senate has revived a bill, called DETER, that would allow for swift sanctions if Moscow was found meddling in future U.S. elections. Both Democrats and Republicans are looking to redress what they consider President Donald Trump’s weak stance on accusations of Russian interference in the 2016 election when he met Russian President Vladimir Putin on Monday.
  • President Donald Trump said he was ready to impose tariffs on all $500 billion of goods the U.S. imports from China, remarks that sent financial markets retreating and threatened to escalate a trade clash with the Asian giant. “We’re down a tremendous amount,” Trump said in an interview about trade imbalances with China on CNBC broadcast on Friday.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The United States is monitoring the recent weakness in China’s yuan currency and will review whether the currency has been manipulated, Treasury Secretary Steven Mnuchin told Reuters on Friday. Mnuchin said in an interview in Sao Paulo, Brazil, that the yuan’s weakness would be reviewed as part of the U.S. Treasury’s semi-annual report on currency manipulation. The report is due on Oct. 15 and will be based on activity for the first six months of 2018.
  • U.S. President Donald Trump may not be happy about the strength of the U.S. dollar, but the greenback’s recent rally may partly be a product of his own making. The U.S. dollar has been climbing against major currencies for several months, with thedollar index (DXY) up nearly 7.0 percent over the last three months and on Thursday hit a one year high.
  • The U.S. Securities and Exchange Commission said on Friday that Deutsche Bank (DE:DBKGn) (N:DB) has agreed to pay nearly $75 million to settle an investigation into the mishandling of pre-release American Depositary Receipts (ADR). Deutsche Bank did not admit or deny the SEC’s findings but agreed to return its “ill-gotten gains” and comply with the SEC’s fine, the regulator said. The SEC said its investigation has revealed “industrywide abuses” in pre-released ADRs, said Stephanie Avakian, of the SEC’s Enforcement Division.

23july5

23Jul
forex-Tradinghugyh

Epic Research Forex Report

INTERNATIONAL CURRENCY BUZZ
Forex – Dollar on Track for Weekly Drop as Trump Blasts Fed Policy
Forex – Flailing Euro Is Unlikely to Find Any Succor From ECB Meeting
Forex – GBP/USD spikes to fresh session tops, 1.31 mark back on sight

EUR/USD

The euro has been treading water. It is unlikely to find a rescuing hand from the European Central Bank, whose policy makers meet next week. While analysts expect the shared currency to strengthen as the year progresses, conviction in that view is shaky, with strategists having pared their calls recently. The euro was knocked down after the ECB’s mid-June policy review, when President Mario Draghi dashed expectations for tightening in early 2019. Since then, trade tensions have heightened and core inflation in the euro area has been revised downward, which gives the ECB little incentive to change tack any time soon. The policy divergence between the Federal Reserve and the ECB is another factor that is curbing enthusiasm on the euro. Shorter-term bond yields, which are usually more sensitive to changing views on monetary policy, are in favor of the dollar: the two-year yield differential between U.S. Treasuries and German bunds widened this week to more than 300 basis points, the most in data going back to 1990.

GBP/USD

The GBP/USD pair reversed a dip to sub-1.3000 level and spiked to fresh session tops around the 1.3080-85 region in the last hour. The pair built on its overnight rebound from 10-month lows and caught some bids since the early European session, snapping three consecutive days of losing streak. A follow-through US Dollar retracement on Friday was seen as one of the key factors that helped the pair to recover all of its
previous session’s losses. The latest leg of a spike over the past hour or so could be attributed to the US President Donald Trump’s comments, via Twitter, expressing displeasure over the Fed’s monetary policy tightening. The greenback was also being weighed down by St. Louis Fed President James Bullard’s dovish comments, saying that yield curve inversion is a bearish signal on the economy and the Fed should hold
off on hiking further.

 

23

20Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

   COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Metal prices continued to falter on Thursday amid trade concerns and a strengthening U.S. dollar. Comex gold futures for August delivery decreased 0.88% to a one-and-a-half-year low of $1,217.10 a troy ounce as of 10:58 AM ET (14:58 GMT). The precious metal was held back as trade tensions continued after China said the White House was wrong to blame Chinese President Xi Jinping for blocking progress on a trade deal.
  • Oil prices rose on Thursday, as a Saudi Arabian official indicated that the country’s exports will be little changed despite a large increase in production. New York-traded West Texas Intermediate crude futures gained 53 cents, or 0.8% to $68.28 a barrel by 11:29 AM ET (15:29 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up 38 cents, or 0.5%, to $73.28.
  •  The U.S. Energy Information Administration said in its weekly report thatnatural gas storage in the U.S. increased by 46 billion cubic feet in the week ended July 13, compared to forecasts for a build of 58 billion. Thursday’s data compared with a gain of 51 billion cubic feet (bcf) in the preceding week and represented a decline of 710 billion from a year earlier and was also 535 bcf below the five-year average.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • European Union countries will suffer long-term damage equivalent to about 1.5 percent of annual economic output if Britain leaves the bloc without a free trade deal next year, the International Monetary Fund said on Thursday. Britain is due to leave the EU on March 29 next year, and Prime Minister Theresa May has yet to reach a consensus within her own Conservative Party on what future ties with the EU should look like, let alone broker a final deal with the EU.
  • Commerce Secretary Wilbur Ross said Thursday it was “too early” to say if the United States would impose tariffs of up to 25 percent on imported cars and parts, a suggestion that has been met with harsh criticism from the industry. The department opened an investigation in May into whether imported autos and parts pose a national security risk and was holding a hearing on the probe on Thursday, taking testimony from auto trade groups, foreign governments and others.
  • Russian lawmakers backed a proposal on Thursday to raise the retirement age in a preliminary vote, part of an unpopular budget package designed to shore up government finances which has already dented President Vladimir Putin’s approval ratings. Looking for extra money for the budget, the government proposed raising the retirement age. It made the announcement on June 14, the day Russia hosted the first match of the soccer World Cup, leading some critics to suggest the authorities were using the tournament to deflect attention from unpopular news.

COMEX GOLD SIGNAL

19Jul
Forex_market

Forex Market Report| Epic Research

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Hits Day’s Highs on Powell Testimony
Forex – EUR/USD tumbles to sub-1.1700 area ahead of Powell
Forex – GBP/USD tumbles to lows, around mid-1.3100s on Brexit concerns

EUR/USD
After clinching fresh tops in the 1.1740/50 band in early trade, EUR/USD met a wave of selling orders and has now retreated to the 1.1700/1.1690 band. The pair gave away initial gains beyond 1.1700 the figure and is now remain under pressure in light of the upcoming semi-annual testimony by Fed’s J.Powell before the Senate Banking Committee. USD gathered extra traction after US June’s Industrial and Manufacturing Production expanded beyond consensus at a monthly 0.6% and 0.8%, respectively. On the not-so-bright-side, Capacity Utilization Rate came in at 78.0%. missing estimates albeit higher than May’s 77.7%. Looking ahead, investors expect Powell to deliver a message in line with the statement published at the June meeting, although attention has also shifted to the yield curve and the continuation of the gradual path when comes to raising rates. At the moment, the pair is losing 0.12% at 1.1696 facing the next support at 1.1663 (21-day sma) seconded by 1.1615 (low Jul.13) and finally 1.1527 (low Jun.29).

GBP/USD

The GBP/USD pair extended its sharp intraday slide and tumbled around 120-pips from the post-UK jobs data swing high level of 1.3269. The latest UK political headlines, wherein Labour party members were said to support the amendment offered by rebel Tory MPs to keep Britain in the customs union after Brexit raised concerns about the UK PM Theresa May’s future and prompted some aggressive selling
around the British Pound. This coupled with resurgent US Dollar demand, amid expectations about an upbeat economic outlook from the Fed Chair Jerome Powell’s semiannual congressional testimony, added to the downward pressure surrounding the major. The ongoing sharp decline could also be attributed to some cross-driven weakness, steaming out of a sudden spike witnessed around the EUR/GBPcross.

 

19

19Jul

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

  • West Texas Intermediate oil remained lower in North American trade on Wednesday after data showed that oil supplies in the U.S. registered a surprise inventory build and U.S. production reached record levels. But gasoline inventories registered a much larger-than-expected draw and distillate stockpiles unexpectedly declined. After an initial reaction extending losses, crude prices later recovered some lost territory.
  • Gold prices were steady near a one-year low on Wednesday as a higher dollar and comments from Federal Reserve Chair Jerome Powell continued to weigh. Comex gold futures for August delivery decreased 0.29% to $1,223.80 a troy ounce as of 10:46 AM ET (14:46 GMT). Powell reiterated the central bank should gradually increase interest rates at his hearing at Congress on Tuesday. Trade tensions and fiscal policy made the future uncertain, he added.
  • Copper’s slump amid a deepening global trade conflict offers a long-term buying opportunity, according to Citigroup Inc (NYSE:C)., which shrugged off fears for world growth to boost its long-term forecasts. “Prepare for a decade of Dr. Copper on steroids,” analysts including Max Layton and Tracy Liao wrote in a July 17 note. The bank sees average annual prices at $8,000 a metric ton in 2022, passing $9,000 a ton by 2028 under its baseline scenario.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • U.S. Commerce Secretary Wilbur Ross said on Wednesday that he has launched a new national security investigation into uranium imports that could lead to tariffs or quotas to limit them. The “Section 232″ probe was prompted by a petition filed by two U.S. uranium mining companies, Ur-Energy Inc (A:URG) and Energy Fuels Inc (A:UUUU), complaining that subsidized foreign competitors have caused them to cut capacity and lay off workers.
  •  European Commission President Jean-Claude Juncker said he was “upbeat and relaxed” ahead of his trip to Washington next week to discuss strained trade relations between the European Union and the United States. Juncker is due meet U.S. President Donald Trump on July 25 with a clear focus on trade after the United States imposed tariffs on EU steel and aluminum and Trump’s repeated threats to extend those measures to European cars. Trump’s top economic adviser, Larry Kudlow, said he expected Juncker to come with a “significant” trade offer.
  • U.S. President Donald Trump’s top economic adviser said on Wednesday that Chinese President Xi Jinping was holding up a deal to resolve a significant trade dispute between the United States and China. Larry Kudlow, head of the White House Economic Council, also said he expects European Commission President Jean-Claude Juncker to bring an important trade offer to Trump when he visits Washington next week. Kudlow said he believed lower-ranking Chinese officials want to put a stop to dueling U.S. and Chinese tariffs. These officials include Xi’s top economic adviser Liu He, Kudlow said, but Xi has refused to make changes to China’s technology transfer and other trade policies.

GOLD TRADING FORECAST TODAY

18Jul

KLCI Index Gained 0.61% on Tuesday

18-7-18

The FBM KLCI index gained 10.61 points or 0.61% on Tuesday. The Finance Index increased 0.56% to 17134.01 points, the Properties Index dropped 0.05% to 1028.77 points and the Plantation Index down 0.96% to 7447.5 points. The market traded within a range of 11.24 points between an intra-day high of 1737.28 and a low of 1726.04 during the session. Actively traded stocks include MYEG, MRCB, SAPNRG, APFT, HSI-H4I, VIVOCOM, NOVAMSC, YTL, HSI-C3O and KEYASIC. Trading volume increased to 2339.21 mil shares worth RM2144.40 mil as compared to Monday’s 2043.91 mil shares worth RM1991.33 mil.

 

Leading Movers were DIGI (+32 sen to RM4.59), PBBANK (+58 sen to RM23.60), GENM (+6 sen to RM5.06), TENAGA (+14 sen to RM14.78) and AXIATA (+4 sen to RM4.23). Lagging Movers were IOICORP (-10 sen to RM4.40), SIMEPLT (-9 sen to RM5.23), DIALOG (-3 sen to RM3.25), PETCHEM (-7 sen to RM8.80) and HLFG (-10 sen to RM18.40). Market breadth was positive with 473 gainers as compared to 376 losers. The KLCI closed higher at 1737.28 points despite overnight mixed performance in US market. The performance of our local bourse was lifted by buying interest in heavy weight counters led by Digi.

blog 18-7

 


 

Free Trial for KLSE, SGX Forex & Comex Signals.
Register Now:
https://goo.gl/gjqYzr

 

18Jul

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

TODAY’S COMEX GOLD SIGNAL

TODAY’S COMEX GOLD SIGNAL

TODAY’S COMEX GOLD SIGNAL

TODAY’S COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • Gold prices fell to a two-and-a-half year low on Tuesday, as a stronger dollar weighed on the precious metal and Federal Reserve Chair Jerome Powell backed gradual rate increases. Comex gold futures for August delivery decreased 0.86% to $1,229.20 a troy ounce as of 10:37 AM ET (14:37 GMT). The price of gold fell as Powell reiterated the central bank should gradually increase interest rates. The Fed raised rates twice this year and is expected to raise rates at least once more before the end of the year.
  • Before the U.S.-China trade war, American pig processors exported nine out of every 10 pigs’ feet and heads they shipped overseas to China and Hong Kong – for prices higher than they would fetch anywhere else. Those parts and others that most Americans won’t eat – hearts, tongues, stomachs, entrails – have a special place in Chinese culinary culture and, consequently, in the profit margins of U.S. pork exporters.
  • Global benchmark Brent crude oil hit a three-month low on Tuesday as worries over supply disruptions eased and the focus moved to increasing production and potential damage to global growth from the U.S.-China trade dispute. Benchmark Brent crude oil (LCOc1) fell 49 cents to an intraday low of $71.35 a barrel, its lowest since April 17, before recovering to around $71.65, down 19 cents, by 1020 GMT.

TODAY’S COMEX GOLD SIGNAL

ECONOMY NEWS

  • The European Central Bank should not tie its hands too early when it comes to future monetary policy decisions, but look instead at how the economy pans out, Finland’s new central bank governor Olli Rehn told Reuters on Tuesday. The ECB said last month it expects to end its 2.6 trillion euro ($3.0 trillion) bond-buying program at the end of the year and to keep interest rates at their current, record low level “through the summer of 2019″, leading investors to price in a hike in October of next year.
  • U.S. Federal Reserve Chairman Jerome Powell, discounting the risk that a trade war may throw a global recovery off track, said the economy is on the cusp of “several years” where the job market remains strong and inflation stays around the Fed’s 2 percent target. In written testimony delivered to the Senate Banking Committee on Tuesday, the Fed chair signaled not just that he believes the economy is doing well, but that an era of stable growth may continue provided the Fed gets its policy decisions right.
  • The Russian foreign ministry, citing a court ruling, said on Tuesday that Business France trade agency in Moscow, which Paris has now decided to shut down, had been functioning without any “legal basis”. France said on Monday it had decided to shut its Business France trade agency in Russia after what it said was a long period of negotiations with local authorities following Moscow’s expulsion of its director.

TODAY’S COMEX GOLD SIGNAL

17Jul
Forex-trading-in-Kenya

Forex Market Update| Epic Research

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Slips Lower, Euro Pushes Up to Day’s Highs
Forex – EUR/USD unchanged above 1.1700 post-US Retail Sales
Forex – GBP futures: upside corrective near term

EUR/USD

EUR/USD keeps the positive stance intact at the beginning of the week, although it has now receded from tops beyond 1.1720 in the wake of US data releases. The pair trades in the area of 3-day peaks after US headline Retail Sales expanded at a monthly 0.4% during June and Core Sales rose 0.5% inter-month, both prints coming in in line with initial estimates. In addition, the NY Empire State manufacturing index
came in above expectations at 22.60 for the current month, a tad lower than June’s 25.00 reading. Looking ahead, spot is poised to remain under scrutiny in light of headlines from the Trump-Putin meeting and the upcoming testimonies by Fed’s J.Powell on Tuesday and Wednesday. At the moment, the pair is gaining 0.21% at 1.1714 and a break above 1.1726 (high Jul.16) would target 1.1735 (55-day sma) en-route to 1.1792 (high Jul.9). On the other hand, the immediate support aligns at 1.1657 (21-day sma) seconded by 1.1615 (low Jul.13) and finally 1.1527 (low Jun.29).

GBP/USD

GBP/USD has lifted to kick off the week’s trading, testing into the 1.4000 handle in the pre-London markets. The Sterling is capitalizing on Dollar buying taking a break in the early week, with Brexit concerns currently forgotten as an increasingly hawkish outlook from the Bank of England (BOE) takes center stage for the pair. BOE Deputy Governor Dave Ramsden turned surprisingly hawkish over the weekend, after voting against a rate increase last November. Deputy Governor Ramsden went on record, stating he expects a rate increase “somewhat sooner rather than somewhat later”, sparking some confidence in the Sterling. Brexit continues to weigh on the Sterling in the underlying, with hardline Brexiteers within Prime Minister May’s ruling Conservative party continuing to rage against PM May’s ‘soft Brexit’ approach to negotiations with the EU.

17

 

17Jul

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 inched down on Monday, despite a lower U.S. dollar as data supported expectations of a Fed interest rate increase. Comex gold futures for August delivery decreased 0.15% to $1,239.30 a troy ounce as of 11:18 AM ET (15:18 GMT). Gold was weighed down by economic data pointing to an increase in Federal Reserve interest rates. Retail sales increased by 0.5% for the fifth month in a row, according to the U.S. Commerce Department.
  • Oil prices fell more than 3% to below $68 on Monday as the U.S. Treasury Secretary Steven Mnuchin suggested that certain exceptions could be made for countries importing oil from Iran. New York-traded West Texas Intermediate crude futures tumbled $2.33 or 3.3% to $67.62 a barrel by 10:32 AM ET (14:33 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., sank $2.56 or 3.4%, to $72.77.
  • The market could hold steady on Monday as we approach the May 7 bottom at $2.711. We may not see much action to the downside until the release of the next 10 to 14 day weather forecast and the first round of storage estimates for Thursday’s government report. Natural gas futures are edging slightly higher early Monday. I wouldn’t read into the move. We could be just looking at profit-taking and position-squaring after the steep two-week sell-off.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • France and Germany want the European Union’s agriculture budget to be maintained at its current level once Britain leaves the bloc, the French and German farm ministers said on Monday. Rejecting a proposal from the European Commission for a reduction in the budget for the Common Agricultural Policy (CAP), the ministers said in a joint statement they would seek that “the budget allocated to the CAP be maintained at its current level for the 27 member states.”
  •  Escalating trade tensions are threatening to derail a global upswing that’s already losing momentum amid weaker-than -expected growth in Europe and Japan as financial markets seem complacent to the mounting risks, the International Monetary Fund warned. The IMF kept is global forecast unchanged Monday in the latest update to its Global Economic Outlook. The world economy will grow 3.9 percent this year and next, said the Washington-based fund. The pace this year would be the fastest since 2011.
  • The International Monetary Fund warned on Monday that escalating and sustained trade conflicts are increasingly likely, threatening to derail economic recovery and depress medium-term growth prospects. The IMF, in an update to its World Economic Outlook growth forecasts, said that the United States, as the focus of retaliatory tariffs from trading partners, was especially vulnerable to a slowdown in its exports. An escalation of tariffs to levels threatened by the United States, China and other countries would not only have a direct effect on demand, but would heighten uncertainty and hurt investment, the IMF said.

17july5

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