SGX IForex Recommendations

TRADING TIPS :

USD/JPY changed hands at 120.07, down 0.36%.Last week, the euro fell to four-and-a-half year lows against the dollar on Friday, and the greenback rose to parity against the Swiss franc after European Central Bank President Mario Draghi indicated that the likelihood of quantitative easing has increased.In an interview Handelsblatt Draghi said the risk of the ECB not fulfilling its mandate of price stability is higher now than six months ago. The remarks indicated that the central bank is moving closer to implementing quantitative easing measures in order to spur growth and inflation.

INTRADAY OUTLOOK

Support: 119.97

Resistance: 120.64

RECOMMENDATION:

1. Buy USD/JPY Above 120.66-TG: 120.86/121.16 SL 120.36

2. Sell USD/JPY Below 119.95-TG: 119.75/119.45 SL 120.25

INTRADAY OUTLOOK

Immediate Support: 1.1879

Immediate Resistance: 1.1950

RECOMMENDATION:

1. Buy EUR/USD Above -1.1952 TG: 1.1972/1.2002 SL 1.1922

2. Sell EUR/USD Below -1.1877 TG:1.1857/1.1827 SL 1.1907

SGX Stock Recommendations

MARKET UPDATES :

• THE Singapore economy is officially expected to grow 2-4 per cent this year: the exact same forecast as a year ago for 2014. But this range could mean either a pick-up in growth or further slowdown in 2015 – and it’s anyone’s guess given the diverse range of risks to growth, both domestic and external. Advance estimates last Friday put Singapore’s 2014 growth at 2.8 per cent – in the lower half of the government’s forecast range and significantly slower than 2013′s 3.9 per cent. For now, market economists expect some improvement in 2015, with a median forecast of 3.2 per cent growth this year.

• SINGAPORE’S Chief Justice on Monday announced the appointment of four new senior counsel (SC) at the opening of the new legal year, bringing the number of SC to 59.They are: Lee Kim Shin, formerly a judicial commissioner of the Supreme Court.

• Singapore shares ended the second trading day of the New Year notably lower on profit-taking as investors pondered data released last week showing pockets of weakness in several economies and the implications of a potential exit from the euro zone by Greece, which will hold snap elections on Jan 25.Decliners outnumbered gainers 257 to 165, with some 1.26 billion shares worth $844.6 million changing hands.

S&P Market News Update

U.S. stocks were clobbered Monday in an indiscriminate sell-off triggered by a renewed plunge in crude oil prices and surging dollar, which left the Dow and the S&P with their worst losses since October.

The S&P 500 SPX, -1.83%  closed off session lows but still suffered its largest one-day decline in three months. The index also suffered its longest losing streak in a 12-month period, falling for the fourth-straight session. The benchmark index lost 37.62 points, or 1.8%, to 2,020.58.