SGX IForex Recommendations

TRADING TIPS :

EUR/USD was up 0.51% to 117.01 after falling to one-month lows of 115.55 overnight.The dollar received a boost after data earlier showed that Japan’s exports grew by a smaller-than-forecast 4.9% in November, despite the steep fall in the yen, as slower demand in Asia and Europe weighed.Investors remained wary ahead of the Fed’s policy statement, as ongoing speculation over the prospects for a U.S. rate hike next year have fuelled expectations that the bank may change its forward guidance, and drop the pledge to keep interest rates near zero for a “considerable time.The traditional safe haven yen rallied on Tuesday as a rout in oil prices continued, adding to fears over the global economic outlook and the impact of oil’s drop on weakening emerging market economies and their currencies.

INTRADAY OUTLOOK

Support: 1.2436

Resistance: 1.2499

RECOMMENDATION:

1. Buy EUR/USD Above 1.2501-TG:1.2521/1.2551 SL 1.2471

2. Sell EUR/USD Below 1.2434-TG:1.2414/1.2384 SL 1.2474

INTRADAY OUTLOOK

Immediate Support: 1.5678

Immediate Resistance: 1.5749

RECOMMENDATION:

1. Buy GBP/USD Above 1.5751-TG:1.5771/1.5801 SL 1.5721

2. Sell GBP/USD Below 1.5675-TG:1.5655/1.5625 SL 1.5705

SGX Stock Signal Update

Todays SGX Recommendation

■■ BUY CAPITALAND AT CMP 3.110 TARGET 3.140, 3.180, 3.240 SL 3.050

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SGX Stock Recommendations

MARKET UPDATES :
Singapore’s economy watchers have tempered their expectations for GDP growth in 2014 from a quarter ago and are not expecting much improvement next year. Their inflation expectations too, have been adjusted lower.The Monetary Authority of Singapore’s (MAS) latest quarterly poll of professional forecasters, sent out in late November, found that their median growth forecast for 2014 has fallen to 3 per cent, from 3.3 per cent in the September survey. That is in line with the government’s forecast of “around 3 per cent” growth for the year.

STOCK RECOMMENDATION :
BUY CAPITALAND AT CMP 3.110 TARGET 3.140, 3.180, 3.240 SL 3.050