SINGAPORE shares end higher on Friday. The Straits Times Index gained 35.88 points to 3,279.53.Some 1.3 billion shares, valued at S$1.23 billion were traded.
Gainers numbered 250 while losers numbered 190.
SGX Singapore Closing Market Update
SINGAPORE shares end higher on Friday. The Straits Times Index gained 35.88 points to 3,279.53.Some 1.3 billion shares, valued at S$1.23 billion were traded.
Gainers numbered 250 while losers numbered 190.
SGX IForex Recommendations
TRADING TIPS :
EUR/USD was down 0.49% to 1.2281, closing in on the two year low of 1.2246 struck on December 8. The dollar rallied after the Fed said it would be “patient” before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low “for a considerable time.”The central bank acknowledged the improvement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment.At the bank’s post policy meeting press conference Fed Chair Janet Yellen said the Fed was unlikely to raise rates for the “next couple of meetings” indicating that a move in April at the earliest is possible.
INTRADAY OUTLOOK
Support: 1.2280
Resistance: 1.2351
RECOMMENDATION:
1. Buy EUR/USD Above 1.2353-TG:1.2373/1.2403 SL 1.2323
2. Sell EUR/USD Below 1.2278-TG:1.2258/1.2228 SL 1.2308
INTRADAY OUTLOOK
Immediate Support: 1.5615
Immediate Resistance: 1.5677
RECOMMENDATION:
1. Buy GBP/USD Above 1.5680-TG:1.5700/1.5730 SL 1.5650
2. Sell GBP/USD Below 1.5612-TG:1.5592/1.5562 SL 1.5642
SGX Comex Recommendations
INTERNATIONAL COMMODITY NEWS :
Gold prices rose in early Asian trade on Friday as markets head into year-end holidays and light data flows.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,196.50 a troy ounce, up 0.14%, after hitting an overnight session low of $1,187.10 and off a high of $1,213.80.Overnight, gold futures came off earlier highs but held steady on Thursday after the Federal Reserve will exercise patience raising interest rates.Gold prices have tumbled in recent months as markets prep for the Fed to raise interest rates, which is widely seen taking place in 2015, as higher borrowing costs chip away at the precious metal’s appeal as a hedge to weaker paper currencies, the product of loose monetary policy.
TRADING STRATEGY :
SELL GOLD BELOW 1192 TARGET 1187 1182 SL 1198
BUY GOLD ABOVE 1202 TARGET 1207 1213 SL 1196
Gold prices rose in early Asian trade on Friday as markets head into year-end holidays and light data flows.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at $1,196.50 a troy ounce, up 0.14%, after hitting an overnight session low of $1,187.10 and off a high of $1,213.80.Overnight, gold futures came off earlier highs but held steady on Thursday after the Federal Reserve will exercise patience raising interest rates.Gold prices have tumbled in recent months as markets prep for the Fed to raise interest rates, which is widely seen taking place in 2015, as higher borrowing costs chip away at the precious metal’s appeal as a hedge to weaker paper currencies, the product of loose monetary policy.
TRADING STRATEGY :
SELL GOLD BELOW 1192 TARGET 1187 1182 SL 1198
BUY GOLD ABOVE 1202 TARGET 1207 1213 SL 1196
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