SGX IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5099 during European morning trade, the session low; the pair subsequently consolidated at 1.5120, shedding 0.25%. Cable was likely to find support at 1.5032, the low of January 8 and an 18-month low and resistance at 1.5337, the high of January 5. The pound slid to nearly 18-month lows against the U.S. dollar in quiet trade on Monday, as demand for the greenback remained broadly supported despite Friday’s downbeat U.S. average earnings data.The Labor Department reported on Friday that the economy added 252,000 jobs in December, more than the 240,000 forecast by economists. The unemployment rate ticked down to a six-and a-half year low 5.6%.However, average earnings fell by 0.2% last month and were up by only 1.7% from a year earlier.

INTRADAY OUTLOOK

Support: 1.5148

Resistance: 1.5215

RECOMMENDATION:

1. Buy GBP/USD Above 1.5218-TG: 1.5238/1.5268 SL 1.5188

2. Sell GBP/USD Below 1.5145-TG: 1.5125/1.5095 SL 1.5175

INTRADAY OUTLOOK

Immediate Support: 1.1812

Immediate Resistance: 1.1887

RECOMMENDATION:

1. Buy EUR/USD Above -1.1890 TG: 1.1910/1.1940 SL 1.1860

2. Sell EUR/USD Below -1.1810 TG:1.1790/1.1760 SL 1.1840

SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :
Gold prices eased lower in early Asia on Tuesdya with investors warily eyeing the global commodity complex as crude oil continues to plunge.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at 1.230.90 a troy ounce, down 0.15%, while silver futures for March delivery climbed 0.05% to trade at $16.572an ounce.Overnight, copper prices fell to a more than five-year low on Monday, as growing concerns over a slowdown in global demand combined with a broadly stronger U.S. dollar dampened the appeal of the red metal.Copper for March delivery on the Comex hit a daily low of $2.700 a pound, a level not seen since October 2009, before trading at $2.717 during U.S. morning hours, down 1.37%. On early Tuesday in Asia, copper futures were flat at 2.722 a pound.Copper fell after data showed that Chinese producer price inflation dropped by the most in two years in December, underling concerns over a slowdown in demand.The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.

TRADING STRATEGY :
BUY GOLD ABOVE 1242 TARGET 1247 1253 SL 1236
SELL GOLD BELOW 1230 TARGET 1225 1219 SL 1236

SGX Stock Recommendations

MARKET UPDATES :

• SINGAPORE shares end higher on Monday.The Straits Times Index gained 6.45 points to 3,344.89.Some 1.1 billion shares, valued at S$906.1 million were traded. Gainers numbered 159 while losers numbered 245.

• M1 has appointed Keppel veteran Choo Chiau Beng as chairman and non-executive director, following the death of the telco’s previous chairman, Teo Soon Hoe, in December.Mr Choo was a director at Keppel Corporation from 1983 to 2013. He also served as the group’s CEO from 2009 to 2013, before becoming a senior advisor to the corporation last year. He is also currently a director of KrisEnergy Ltd.

• TEE Land’s net profit for the second quarter ended November 2014 rose 46 per cent to S$2.42 million, on the back of revenue jumping from S$2.44 million to S$15.12 million.For the half year ended November, net profit doubled from S$2.23 million to S$5.11 million. Revenue rose from S$16.01 million to S$21.56 million.The hike in net profit was due to higher progressive revenue being recognised for its Aura 83 development as well as increased contributions from its associates.

• Lowrys Farm, a Japanese casual wear fashion brand targeting young working adults, has decided to exit the Singapore market, closing all its eight stores. The stores are currently located in Bugis+, Plaza Singapura, VivoCity, 313@Somerset, Jem, Suntec City Mall, Wisma Atria and Tampines 1. A key reason cited for the brand’s pullout was slow sales, attributable to differences in ‘climate’ and ‘fashion taste’.

• OLAM International said on Monday that it has agreed to sell wool broker Western Wool Marketing to Quality Wool, marking the Singapore commodities group’s exit from its niche Australian wool business.Western Wool Marketing – owned by Queensland Cotton, a wholly-owned subsidiary of Olam Australia – has stores throughout NSW and Victoria. The acquisition will make Quality Wool one of Australia’s largest, independent, family-owned and operated wool companies.