SGX IForex Recommendations

TRADING TIPS :

GBP/USD was up 0.65% to 1.5334 from 1.5226 ahead of the inflation report.In a change to its forward guidance, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.”The MPC stands ready to take whatever action is needed, as events unfold, to ensure inflation remains likely to return to target in a timely fashion, Carney said.The bank also raised its growth forecast for this year to 2.9% from 2.6% previously and said it also expects growth of 2.9% in 2016. The pound rose to session highs against the dollar on Thursday after the Bank of England said inflation is likely to fall to zero in the first half of this year, but said there was no threat of deflation taking hold in the U.K.

INTRADAY OUTLOOK

Support: 1.5425

Resistance: 1.5485

RECOMMENDATION:

1. Buy GBP/USD Above 1.5488-TG: 1.5508/1.5538 SL 1.5458

2. Sell GBP/USD Below 1.5420-TG: 1.5400/1.5370 SL 1.5450

INTRADAY OUTLOOK

Immediate Support: 1.1320

Immediate Resistance: 1.1380

RECOMMENDATION:

1. Buy EUR/USD Above -1.1382 TG: 1.1402/1.1432 SL 1.1352

2. Sell EUR/USD Below -1.1318 TG:1.1298/1.1268 SL 1.1348

SGX Stock Recommendations

MARKET UPDATES :

• The Straits Times Index (STI) ended -25.4 points lower or -0.74% to 3419.17, taking the year-to-date performance to +1.61%.

• The FTSE ST Mid Cap Index declined -0.87% while the FTSE ST Small Cap Index declined -0.43%. The top active stocks were Sing- Tel (+0.97%), DBS (-0.82%), United Engineers (+7.19%), Keppel Land (-0.22%) and OCBC Bank (-0.66%).

• The outperforming sectors today were represented by the FTSE ST Health Care Index (+1.30%). The two biggest stocks of the FTSE ST Health Care Index are Raffles Medical Group (unchanged) and Biosensors International Group (+3.73%). The underperforming sector was the FTSE ST Consumer Services Index, which declined -1.68% with Jardine Cycle & Carriage’s share price declining – 1.07% and Genting Singapore’s share price declining -1.44%.

• The three most active Exchange Traded Funds (ETFs) by value today were the DBXT MSCI China TRN ETF (-0.29%), IS MSCI India (-0.26%), SPDR Gold Shares (-0.74%).

• The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (-2.04%), Capitacom Trust (-1.69%), Capitamall Trust (-1.40%).

• The most active index warrants by value today were HSI25000MBeCW150330 (+9.76%), HSI23800MBePW150330 (-9.91%), HSI24600MBeCW150330 (+11.29%).

• The most active stock warrants by value today were DBS MB eCW150420 (-10.61%), OCBC Bk MBeCW150413 (-9.09%), SGX MBeCW150803 (-5.78%).

Forex Market Update

The dollar tumbled against its major rivals Thursday after retail-sales slumped for the second month and weekly jobless-claims data revealed a surprising jump.

The ICE U.S. Dollar Index DXY, -0.25% a measure of the buck’s strength against a trade-weighted basket of six rivals, declined for the first time in four sessions. It lost 0.84% and fell to 94.1000.

The shared currency EURUSD, +0.27%  traded at $1.1410, compared with $1.1318 Wednesday.

The pound GBPUSD, +0.20%  traded at $1.5399, compared with $1.5209 Wednesday.