SGX Singapore Closing Market Update

MONDAY'S session for the local stock market was marked by wave of short covering in Straits Times Index stocks ahead of an expected rebound on Wall Street. However, even though the Straits Times Index recorded a seemingly impressive 13.27 points rise to 3,376.04, the buying did not extend to the broader market - at 5pm, there were 155 rises versus 284 falls in total.

Also worth bearing in mind was that the STI fell every day last week, dropping 55 points along the way and dipping into the red for the year to date. Monday's bounce meant it is now up 12 points for 2015.

SGX Comex Recommendations

INTERNATIONAL COMMODITY NEWS :
Gold prices edged forward on Friday, as the euro resumed its slide and weaker than expected U.S. data curbed investor expectations of short-term economic growth. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery inched up 1.40 or 0.12% to 1,153.20 a troy ounce. Gold futures fell steadily in U.S. afternoon trading after peaking at 1,1680.80 hours earlier on a lightly traded session. After dipping more than $30 last Friday to erase all of its yearly gains for 2015, gold futures still remain above its 52-week low of $1,142.47 reached in mid-November.

TRADING STRATEGY :
BUY GOLD ABOVE 1161.75 TARGET 166.75 1172.75 SL 1155.75
SELL GOLD BELOW 1152 TARGET 1147 1141 SL 1158

SGX IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.4845 during European morning trade, the pair’s lowest since July 2013; the pair subsequently consolidated at 1.4868, slipping 0.09%.Cable was likely to find support at 1.4811 and resistance at 1.5026. The pound fell to fresh 20-month lows against the U.S. dollar on Friday, as the greenback recovered from the previous session’s disappointing U.S. retail sales report and as investors eyed additional U.S. data to be released later in the day. The pound had found some support on Thursday after the U.K. Office for National Statistics said the country’s goods trade deficit narrowed to £8.41 billion in January from £9.93 billion in December.whose figure was revised from a previously estimated deficit of £10.15 billion.

INTRADAY OUTLOOK

Support: 1.4710

Resistance: 1.4770

RECOMMENDATION:

1. Buy GBP/USD Above 1.4772-TG: 1.4792/1.4822 SL 1.4742

2. Sell GBP/USD Below 1.4708-TG: 1.4688/1.4658 SL 1.4738

INTRADAY OUTLOOK

Support: 1.0450

Resistance: 1.0520

RECOMMENDATION:

1. Buy EUR/USD Above 1.0522-TG: 1.0542/1.0572 SL 1.0492

2. Sell EUR/USD Below 1.0448-TG: 1.0428/1.0520 SL 1.0398