S'pore shares ended 0.03% higher on Monday. The STI gained 0.94 points to close at 3,427.16. About 927m shares changed hands.
Losers beat gainers 228 to 164.
SGX Singapore Closing Market Update
S'pore shares ended 0.03% higher on Monday. The STI gained 0.94 points to close at 3,427.16. About 927m shares changed hands.
Losers beat gainers 228 to 164.
SGX Comex Recommendations
INTERNATIONAL COMMODITY NEWS :
Gold prices eased mildly on Monday in early Asia with Greece talks in focus later in the day and U.S. markets shut. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.10% to $1,228.30 a troy ounce. The drop in the dollar came after data on Friday showed that U.S. consumer sentiment unexpectedly deteriorated in February. The preliminary reading of the University of Michigan’s consumer sentiment index fell to 93.6, down from January’s final reading of 98.1. Economists had forecast an unchanged figure. The report came a day after data showing that U.S. retail sales unexpectedly fell 0.8% last month after dropping 0.9% in December, indicating that consumer spending remained sluggish at the start of the year.
TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1226 TARGET 1221 1215 SL 1232
Gold prices eased mildly on Monday in early Asia with Greece talks in focus later in the day and U.S. markets shut. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery eased 0.10% to $1,228.30 a troy ounce. The drop in the dollar came after data on Friday showed that U.S. consumer sentiment unexpectedly deteriorated in February. The preliminary reading of the University of Michigan’s consumer sentiment index fell to 93.6, down from January’s final reading of 98.1. Economists had forecast an unchanged figure. The report came a day after data showing that U.S. retail sales unexpectedly fell 0.8% last month after dropping 0.9% in December, indicating that consumer spending remained sluggish at the start of the year.
TRADING STRATEGY :
BUY GOLD ABOVE 1235 TARGET 1240 1246 SL 1229
SELL GOLD BELOW 1226 TARGET 1221 1215 SL 1232
SGX IForex Recommendations
TRADING TIPS :
GBP/USD hit 1.5419 during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5388.The pound had strengthened on Thursday after the BoE said inflation is likely to fall to zero in the first half of this year, but added that there was no threat of deflation taking hold in the U.K.In its quarterly inflation report, the BoE said “it is now more likely than not that CPI inflation will dip briefly below zero at some point in the first half of 2015,” and remain “close to zero” for most of the year.However, BoE Governor Mark Carney said there was not threat of persistent deflation as the decline in inflation was due to falling petrol, food and energy prices.In addition, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.
INTRADAY OUTLOOK
Support: 1.5318
Resistance: 1.5420
RECOMMENDATION:
1. Buy GBP/USD Above 1.5422-TG: 1.5442/1.5472 SL 1.5392
2. Sell GBP/USD Below 1.5316-TG: 1.5296/1.5266 SL 1.5346
INTRADAY OUTLOOK
Immediate Support: 1.1361
Immediate Resistance: 1.1459
RECOMMENDATION:
1. Buy EUR/USD Above -1.1461 TG: 1.1481/1.1511 SL 1.1431
2. Sell EUR/USD Below -1.1359 TG:1.1339/1.1309 SL 1.1389
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