SGX IForex Recommendations

TRADING TIPS :

GBP/USD pulled away from 1.5385, the pair’s lowest since February 27, to hit 1.5409 during European morning trade, still down 0.19%.The pound trimmed losses against the U.S. dollar on Monday, after data showed that U.K. manufacturing activity expanded at the fastest rate in seven months in February, although demand for the greenback remained broadly supported by Friday’s U.S. growth report. Cable was likely to find support 1.5332, the low of February 23 and resistance at 1.5539, the high of February 25. In a report, market research group Markit said that its U.K. manufacturing purchasing managers’ index rose to 54.1 last month from a reading of 53.1 in January. Analysts had expected the index to inch up to 53.4 in February.

INTRADAY OUTLOOK

Support: 1.5340

Resistance: 1.5410

RECOMMENDATION:

1. Buy GBP/USD Above 1.5415-TG: 1.5435/1.5465 SL 1.5385

2. Sell GBP/USD Below 1.5335-TG: 1.5315/1.5285 SL 1.5365

INTRADAY OUTLOOK

Support: 119.20

Resistance: 119.80

RECOMMENDATION:

1. Buy USD/JPY Above 119.85-TG: 120.05/120.35 SL 119.55

2. Sell USD/JPY Below 119.15-TG: 118.85/118.55 SL 119.45

SGX Stock Recommendations

MARKET UPDATES :

• The Straits Times Index (STI) ended +1.03 points higher or +0.03% to 3403.89, taking the year-to-date per- formance to +1.15%.

• The FTSE ST Mid Cap Index declined -0.39% while the FTSE ST Small Cap Index declined -1.14%. The top ac- tive stocks were SingTel (+0.47%), DBS (-1.48%), OCBC Bank (-0.86%), Noble (-3.08%) and UOB (-0.04%).

• The outperforming sectors today were represented by the FTSE ST Consumer Goods Index (+0.68%).The two biggest stocks of the FTSE ST Consumer Goods Index are Willmar International (+0.31%) and Thai Beverage (+2.14%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -3.44% with Midas Holdings’ share price gaining +1.61% and Geo Energy Resources’ share price declining -1.57%.

• The three most active Exchange Traded Funds (ETFs) by value today were the STI ETF (-0.29%), IS MSCI India (+0.37%), SPDR Gold Shares (+1.10%).

• The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (+1.62%), Capita- Com Trust (-0.57%), CapitaMall Trust (+1.90%).

• The most active index warrants by value today were HSI25000MBeCW150330 (-7.69%), HSI24200M- BePW150429 (-3.94%), HSI24400MBePW150330 (-7.32%).

Forex Market Update

The dollar shrugged off a slate of weak economic data Monday to trade higher against the euro, yen and pound, benefiting from a surprise rate cut from the People’s Bank of China.

The euro EURUSD, +0.12%  fell to $1.1182, flat compared with its Friday-afternoon value of $1.1198. The buck USDJPY, -0.34%  traded at 120.18 yen, its highest level in nearly three weeks. It traded at ¥119.63 Friday. The pound GBPUSD, +0.10%  traded at $1.5366, compared with $1.5440 Friday.

The ICE U.S. Dollar Index, a measure of the greenback’s strength against a trade-weighted basket of six rival currencies, DXY, -0.20%  rose 0.2% to 95.47.