SGX IForex Recommendations

TRADING TIPS :

EUR/USD touched highs of 1.2507 and was last up 0.27% to 1.2485.The euro remained higher against the dollar on Monday after reports showing that activity in the U.S. manufacturing sector slowed slightly last month, but still comfortably outstripped the euro zone.Research group Market reported that U.S. manufacturing activity expanded at the slowest pace since January last month as new export orders fell, but continued to show steady growth.The Markit manufacturing purchasing managers’ index ticked down to 54.8 from 55.9 in October. Economists had forecast a decline to 55.0.The euro zone’s manufacturing PMI slowed to 50.1 from a preliminary reading of 50.4 last month, just barely above the 50 level separating growth from contraction.

INTRADAY OUTLOOK

Support: 1.2450

Resistance: 1.2500

RECOMMENDATION:

1. Buy EUR/USD Above 1.2502-TG:1.2522/1.2552 SL 1.2472

2. Sell EUR/USD Below 1.2448-TG:1.2428/1.2398 SL 1.2478

INTRADAY OUTLOOK

Immediate Support: 118.22

Immediate Resistance: 118.70

RECOMMENDATION:

1. Buy USD/JPY Above 118.72-TG:118.92/119.22 SL 118.42

2. Sell USD/JPY Below 118.20-TG:118.00/117.70 SL 118.50

SGX Stock Recommendations

Market updates:

•  SINGAPORE shares ended 1.34 per cent lower on Monday with the Straits Times Index slipping 44.86 points to 3,305.64. Some 1.72 billion shares, valued at S$1.27 billion were traded. Gainers numbered 84 while losers numbered 400.

• THE performance of real estate investment trusts (Reits) in Singapore has recovered this year, reflecting what analysts say is market confidence that rate hikes will probably happen much later than previously thought. When the US Federal Reserve first hinted that it may curtail its bond -buying stimulus programme in May 2013, the 10- year Singapore government bond benchmark surged from 1.4 per cent to 2.8 per cent over the subsequent six weeks, while the FTSE ST Reit Index slumped 19 per cent.

• SINGAPORE and the US are exploring the development of a trusted traveller programme to speed up immigration clearance for citizens of both countries, the Singapore Immigration and Checkpoints Authority (ICA) said in a statement.

• SINGAPORE will a dopt the Euro VI emission standards from Sept 1, 2017, for petrol vehicles to further improve the country's air quality, the National Environment Agency (NEA) said on Monday. OIL and gas stocks, led by Ezion Holdings, continued to tumble on Monday amid ongoing weakness in crude prices. Ezion, which charters offshore vessels, was he most active counter at mid-day with 46.3 million shares changing hands. The stock was down 11.7 per cent, or 15.5 Singapore cents, at S$1.17 as at 2.04pm

S&P Market News Update

U.S. stocks fell on Monday as disappointing economic data from China and Europe triggered a bout of selling in global equity markets.

The S&P 500 SPX, -0.68%  and the Dow DJIA, -0.29%  saw their biggest one-day loss since Oct 22. The benchmark index fell 14.12 points, or 0.7%, to 2,053.44, while the Dow industrials lost 51.44 points, or 0.3%, to 17.776.80. The Nasdaq Composite’s COMP, -1.34%  decline was the biggest in seven weeks, after shedding 64.28 points, or 1.3%, to 4,727.35.