Singapore share prices closed lower on Friday with the Straits Times Index down 10.83 points, or 0.32 per cent, to 3,362.77 points.
The market had digested data that US retail sales were weaker than expected, easing fears of a rate hike that might come earlier than expected, after strong US jobs data a week ago. Around the region, stocks in Japan, China, Hong Kong and South Korea rose, while stocks in Australia, India, Malaysia and Indonesia fell.
Stocks that dragged down the local market included index heavyweight Jardine Matheson Holdings, which fell 1.9 per cent to US$62.12.
Forex GBPJPY Recommendation of 13 - MARCH. - 2015
✔We Hit ALL Target ✔
■■ SELL GBP JPY BELOW 181.23 TARGET 181.03 180.73 SL 181.53
INTERNATIONAL COMMODITY NEWS :
Gold futures closed slightly higher on Thursday, following a streak of massive losses in recent days amid mounting concerns of an interest rate hike by the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold for April delivery closed up 0.07% or 0.80 at $1,151.40 a troy ounce. Gold prices moved above $1,165 in U.S. trading before falling steadily hours later. Metals traders await next week’s Federal Open Market Committee meeting when the Fed could remove its reference to “remaining patient,” in its minutes. The removal is typically an indication that the U.S. central bank is ready to raise interest rates at either of its next two meetings. After next week’s meeting, the FOMC will meet in June and September.
TRADING STRATEGY :
BUY GOLD ABOVE 1162 TARGET 1167 1173 SL 1156
SELL GOLD BELOW 1155 TARGET 1150 1144 SL 1161
