SINGAPORE shares end higher on Wednesday.The Straits Times Index gained 6.95 points to 3,419.15.
Some 1.38 billion shares, valued at S$1.23 bllion were traded.
Gainers numbered 233 while losers numbered 177.
SGX Singapore Closing Market Update
SINGAPORE shares end higher on Wednesday.The Straits Times Index gained 6.95 points to 3,419.15.
Some 1.38 billion shares, valued at S$1.23 bllion were traded.
Gainers numbered 233 while losers numbered 177.
SGX IForex Recommendations
TRADING TIPS :
GBP/USD pulled away from 1.5117, the session high, to hold steady at 1.5075 during European morning trade.In a report, the Office for National Statistics said U.K. gross domestic product expanded by 0.5% in the final three months of 2014, below forecasts for growth of 0.6%. The U.K.’s economy grew by 0.7% in the previous quarter.Year-over-year, U.K. economic growth grew 2.7% in the three months ending December, missing expectations for a gain of 2.8%. The U.K. economy expanded at an annualized rate of 2.6% in the third quarter of 2014.A separate report showed that U.K. mortgage approvals decreased to a 20-month low of 35,700 last month from November’s total of 36,700. Analysts had expected the number of new mortgages approved to decline to 36,600 in December.
INTRADAY OUTLOOK
Support: 1.5058
Resistance: 1.5131
RECOMMENDATION:
1. Buy GBP/USD Above 1.5133-TG: 1.5153/1.5183 SL 1.5103
2. Sell GBP/USD Below 1.5055-TG: 1.5035/1.5005 SL 1.5085
INTRADAY OUTLOOK
Immediate Support: 1.1215
Immediate Resistance: 1.1293
RECOMMENDATION:
1. Buy EUR/USD Above -1.1295 TG: 1.1315/1.1345 SL 1.1265
2. Sell EUR/USD Below -1.1213 TG:1.1193/1.1163 SL 1.1243
SGX Comex Recommendations
INTERNATIONAL COMMODITY NEWS :
Gold prices eased on Wednesday with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% to trade at $1,292.30 a troy ounce.Overnight, gold erased losses to hit the highest levels of the session on Tuesday, after data showed that U.S. durable goods orders fell unexpectedly in December, fuelling concerns over the strength of the economy. In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, fell by 3.4% last month, compared to expectations for a gain of 0.5%.Core durable goods orders, excluding volatile transportation items, declined by 0.8% in December, disappointing forecasts for a 0.6% gain.
TRADING STRATEGY :
BUY GOLD ABOVE 1298 TARGET 1303 1309 SL 1292
SELL GOLD BELOW 1283 TARGET 1278 1272 SL 1289
Gold prices eased on Wednesday with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year.On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.05% to trade at $1,292.30 a troy ounce.Overnight, gold erased losses to hit the highest levels of the session on Tuesday, after data showed that U.S. durable goods orders fell unexpectedly in December, fuelling concerns over the strength of the economy. In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, fell by 3.4% last month, compared to expectations for a gain of 0.5%.Core durable goods orders, excluding volatile transportation items, declined by 0.8% in December, disappointing forecasts for a 0.6% gain.
TRADING STRATEGY :
BUY GOLD ABOVE 1298 TARGET 1303 1309 SL 1292
SELL GOLD BELOW 1283 TARGET 1278 1272 SL 1289
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