SGX IForex Recommendations

TRADING TIPS :

EUR/USD hit fresh two-year lows at 1.2165 before retracing to 1.2186, down 0.35% for the day.In a revised report, the University of Michigan said its consumer sentiment index ticked down to 93.6 this month from a reading of 93.8 in November. Analysts expected the index to fall to 93.1 in December.The University of Michigan also said its inflation expectations for the next 12 months slipped to 2.8% in December from 2.9% the previous month.Separately, the U.S. Census Bureau said new home sales fell 1.6% last month to 438,000 units from a revised total of 445,000 units in October. .Data also showed that U.S. personal spending rose 0.6% in November, exceeding expectations for a 0.5% gain. U.S.Personal spending rose 0.3% in October, whose figure was revised from a previously estimated 0.2% uptick.

INTRADAY OUTLOOK

Support: 1.2163

Resistance: 1.2206

RECOMMENDATION:

1. Buy EUR/USD Above 1.2210-TG:1.2230/1.2260 SL 1.2180

2. Sell EUR/USD Below 1.2160-TG:1.2140/1.2110 SL 1.2190

INTRADAY OUTLOOK

Immediate Support: 1.5525

Immediate Resistance: 1.5577

RECOMMENDATION:

1. Buy GBP/USD Above 1.5580-TG:1.5600/1.5630 SL 1.5550

2. Sell GBP/USD Below 1.5523-TG:1.5503/1.5473 SL 1.5553

SGX Singapore News Update

Singapore's manufacturing output fell in November as most major sectors dragged and a tepid rise in the production of electronics failed to offset the decline.

Output fell 2.8% on year in November, according to preliminary figures released by the government on Friday. That compared with the revised 0.2% contraction in October. Preliminary October data released last month had shown a 0.2% on year rise.

Excluding biomedical manufacturing, output declined 3.1% in November, compared with a 4.7% contraction in the previous month.

Measured on-month on a seasonally-adjusted basis, manufacturing output fell 1.4%, compared with a revised 2.3% expansion in October.

Natural Gas Market Update

Nymex January natural gas NGF15, +0.63%  advanced 0.4% to $3.04 per million British thermal units.

Nymex January gasoline RBF5, +0.55%  rose 0.6% to $1.52 a gallon, while January heating oil HOF5, +0.25%  improved by 0.4% to $1.93 a gallon.