SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :
Gold prices edged higher in Asia on Wednesday as investors tread carefully ahead of a Federal Reserve review of monetary policy that may signal a rate rise ahead. On the Comex division of the New York Mercantile Exchange, gold prices for April delivery edged up 0.07% to $1,149.00 a troy ounce. Overnight, gold plummeted to $1,141.60 early in U.S. morning trading, its lowest level since early-November, before moving up to near $1,160 in less than an hour. Prices for gold futures plunged to a four-month low, ending a three-day winning streak, as investors unloaded their holdings of the precious metal in advance of Wednesday’s critical Federal Open Market Committee meeting. The Federal Reserve could remove a reference to remaining patient from its minutes, which would provide an indication that the U.S. central bank is ready to raise interest rates at some point this year.

TRADING STRATEGY :
BUY GOLD ABOVE 1157 TARGET 1162 1168 SL 1151
SELL GOLD BELOW 1146.50 TARGET 1141.50 1135.50 SL 1152.50

SGX IForex Recommendations

TRADING TIPS :

The pound slipped lower against the U.S. dollar on Tuesday, as expectations for U.K. interest rates to remain on hold for longer than expected continued to weigh, while markets began to turn their focus to the Federal Reserve’s policy statement on Wednesday. GBP/USD hit 1.4773 during European morning trade, the session low; the pair subsequently consolidated at 1.4787, shedding 0.28%.Cable was likely to find support at 1.4696, the low of March 13 and a nearly five-year low and resistance at 1.4896, the high of March 13. Market participants were eyeing Wednesday’s Federal Reserve statement to see if it would drop its reference to being patient before raising rates and signal that it is ready to hike rates depending on economic data.

INTRADAY OUTLOOK

Support: 1.4700

Resistance: 1.4850

RECOMMENDATION:

1. Buy GBP/USD Above 1.4800-TG: 1.4820/1.4850 SL 1.4770

2. Sell GBP/USD Below 1.4730-TG: 1.4710/1.4680 SL 1.4760

INTRADAY OUTLOOK

Support: 1.0550

Resistance: 1.0680

RECOMMENDATION:

1. Buy EUR/USD Above 1.0650-TG: 1.0670/1.0700 SL 1.0600

2. Sell EUR/USD Below 1.0570-TG: 1.0550/1.0520 SL 1.0600

SGX Stock Recommendations

MARKET UPDATES :

• The Straits Times Index (STI) ended -6.09 points lower or -0.18% to 3369.95, taking the year-to-date perform- ance to +0.14%.

• The FTSE ST Mid Cap Index declined -0.40% while the FTSE ST Small Cap Index declined -0.36%. The top ac- tive stocks were DBS (+0.41%), SingTel (+0.48%), UOB (-0.53%), Noble (-3.23%) and Keppel Corp (-0.92%).

• The outperforming sectors today were represented by the FTSE ST Telecommunications Index (+0.40%). The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+0.48%) and StarHub (-0.24%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -1.53% with Midas Holdings’ share price declining -3.28% and Geo Energy Resources ’ share price gaining +1.05%.

• The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (unchanged), United SSE 50 China ETF (+2.12%), SPDR Gold Shares (-0.58%).

• The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (unchanged), As- cendas REIT (-0.80%), Suntec REIT (+0.27%).

• The most active index warrants by value today were HSI24400MBeCW150429 (-8.65%), HSI23600M- BePW150429 (+1.71%), HSI25000MBeCW150429 (-8.70%).

• The most active stock warrants by value today were DBS MB eCW150420 (+5.10%), UOB MB eCW150701 (- 7.56%), OCBC Bk MBeCW150803 (-6.67%).