SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :
Gold prices traded mosstly flat on Tuesday in early Asia as immediate concerns about Greece’s exit from the euro zone waned and investors looked ahead to the Federal Reserve and U.S. data this week.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.01% to trade at $1,281.90 a troy ounce. Overnight, gold fell more than 1% on Monday, as appetite for safe-haven assets weakened after jitters over the Greek election diminished. Greek leftist party Syriza formed a coalition government with the right-wing Independent Greeks party on Monday. Syriza won 149 seats in Greece’s 300-seat parliament, while the Independent Greeks took 13 seats, giving them a comfortable governing majority.

TRADING STRATEGY :
BUY GOLD ABOVE 1282.50 TARGET 1287.50 1293.50 SL 1276.50
SELL GOLD BELOW 1271.50 TARGET 1266.50 1260.50 SL 1277.50

Forex Market Update

The euro traded higher against its main rivals Monday as the initial shock from Syriza’s electoral victory in Greece faded, and a gauge of German business activity proved more upbeat than expected.

The euro EURUSD, +0.04%  was worth $1.1267 in recent trade, compared with $1.1208 late Friday in New York. 

The euro EURGBP, -0.08%   similarly recovered from a six-year low of £0.7405 to trade at £0.7479 Monday, which was about even with its Friday afternoon level. It EURJPY, -0.06%  traded at ¥133.47 Monday morning, after falling to a low of ¥130.15. It traded at ¥132.14 Friday.

The dollar EURJPY, -0.05%  was at ¥118.38, from ¥117.81 late Friday in New York as investors positioned for a bump in the dollar’s value after the Federal Reserve’s policy statement, which is expected Wednesday after the close of the FOMC’s two-day policy meeting.

The broader ICE dollar index DXY, -0.05% was flat at 94.7720.

The pound GBPUSD, +0.15% climbed to $1.5079, from $1.4992 late Friday, as investors anticipated a strong reading on British gross domestic product Tuesday morning.

Natural Gas Market Update

Elsewhere in energy trading, natural gas for February delivery NGG15, +1.46%  fell 10.5 cents, or 3.5%, to $2.881 per million British thermal units. See: What blizzard? Natural gas futures shrug off weather.

The contract had rallied 5.3% on Friday, driven higher amid a massive cold spell across much of eastern North America.

Nymex gasoline for February RBG5, +0.02%  fell 3.12 cents, or 2.3%, to $1.3167 a gallon, while February heating oil HOG5, +0.12%  lost 0.69 cents, or 0.4%, to $1,6398 a gallon.