SGX IForex Recommendations

TRADING TIPS :

GBP/USD at 1.5150 after the Nationwide Building Society reported that U.K. house price inflation rose 0.3% this month, in line with expectations, after a 0.2% uptick in December.Year-on-year, U.K. house prices rose 6.8% in January, exceeding expectations for an increase of 6.6%, after a 7.2% gain the previous month.In the U.S., the Fed said on Wednesday that it would keep rates on hold at least until June and reiterated its pledge to be patient on raising interest rates, while acknowledging the solid economic recovery and strong growth in the labor market. The central bank also said it expected inflation to keep declining in the short term and added that it would take “financial and international developments” into account before deciding when to hike borrowing costs.

INTRADAY OUTLOOK

Support: 1.5078

Resistance: 1.5162

RECOMMENDATION:

1. Buy GBP/USD Above 1.5165-TG: 1.5185/1.5205 SL 1.5135

2. Sell GBP/USD Below 1.5075-TG: 1.5055/1.5025 SL 1.5105

INTRADAY OUTLOOK

Immediate Support: 1.1261

Immediate Resistance: 1.1372

RECOMMENDATION:

1. Buy EUR/USD Above -1.1375 TG: 1.1395/1.1425 SL 1.1335

2. Sell EUR/USD Below -1.1258 TG:1.1228/1.1198 SL 1.1288 

SGX Stock Recommendations

MARKET UPDATES :

• SINGAPORE shares ended lower on Thursday with the Straits Times Index slipping 0.1 point to 3,419.05.Some 1.25 billion shares, valued at S$1.19 billion were traded. Gainers numbered 196 while losers numbered 265.

• DBS is expected to benefit the most among its Singapore banking peers from a lift in short-term funding rates, Nomura said in a report on Thursday. This comes with the surprise move by Singapore’s central bank on Wednesday to ease the appreciation of the Singapore dollar.”One of the by-products of this exchange rate policy is the increase in interest rates,” said Nomura. “This benefits the Singapore banks, in particular DBS, because its assets get reprised faster and in a bigger magnitude than liabilities. “DBS has the lion’s share of Singapore-dollar deposits, of around 25 per cent. Banks make money by pricing their loans higher to reflect higher rates.

• Singapore’s dollar tumbled after the Asian nation unexpectedly eased monetary policy, highlighting the divergence among central-bank strategies before a Federal Reserve meeting that concludes on Wednesday in Washington. Measures of volatility have jumped in currency markets this year as central banks from Canada to Switzerland roiled markets with surprise policy moves. The Monetary Authority of Singapore said it will seek slower appreciation against a basket of currencies, sending the local dollar to the lowest since 2010.

• KEPPEL Corporation, via its financial advisers DBS Bank and Credit Suisse (Singapore), on Thursday announced that    BlackRock Inc, an associate of Keppel Corp, now holds some 48.05 million shares in Keppel Land (KepLand). This represents about 3.1 per cent of the total issued shares in KepLand, a percentage shareholding computed based on a total of 1.5 billion issued shares as at Jan 23, said Keppel Corp.BlackRock is an associate of Keppel Corp by virtue of the fact that it holds 5 per cent or more of Keppel Corp shares. As such, BlackRock is required to disclose its dealings in shares during the offer period.

Natural Gas Market Update

March natural gas NGH15, -0.74%  fell 12.3 cents, or 4.3%, to $2.719 per million British thermal units.

In other energy markets, heating oil for February HOG5, +0.25%  fell 1.34 cents, or 0.8%, to $1.6184 a gallon, while gasoline RBG5, +0.60%  for the same month rose 0.87 cents, or 0.7%, to $1.3537 a gallon.