Share

Tweet this

Dealing Desk Hotline

(603)-2181 8848

Gold and Oil Markets Report – 18 May 2015

A guest post written by DAR Wong and Chong HC

Continual fall in Dollar Index (USDX) has lent support to Gold and Crude prices last week. Yellow metal broke above 1200.00 resistances and settled at 1224.00 regions for the weekend. Crude prices is hovering at 60.00 regions as weekly Crude inventories for previous week have bene cut down by 2.2 million barrels. General commodity prices and Dow Jones benchmarks are holding in firm sentiment after market traders speculated rate hike may be delayed due to lower producer prices released in US economy.

Crude Oil

WTI Crude prices receded below 60.00 benchmarks for the weekend. Market is strongly resisted at 62.50 levels while we reckon support will rise at 55.00 regions. Technically, we predict the trend will thread sideways inside this range for time being until we hear new fundamental influences from Middle...

Read More

Bank of England Cuts Growth Forecast

A guest post written by DAR Wong

Currency Market Observations - 18 May 2015

Fundamental Outlook

The US economy shows sign of continual growth in workforce with dropping claims. Producer prices still stays weak in tandem with stagnated retail sales that interpret a possible delay in rate hike by policymakers. Eurozone stays flat while UK policymakers also cut down in their forecast for annual growth.

The US small business confidence increased in April. National Federation of Independent Business reported its Small Business Optimism Index rose 1.7 points to 96.9 from previous month 95.2.

American retail sales remained unchanged in April as households cut back on spending in purchasing large items. March data has been revised higher to 1.1 percent gains. Excluding automobiles, core retail sales climbed 0.1 percent and below forecast.

The US Labor Department says import prices fell 0.3 percent last month after...

Read More

Gold and Oil Markets Report – 11 May 2015

A guest post written by DAR Wong and Chong HC

The yellow metal has not moved much throughout last week. Prices failed to break above 1200.00 resistances as traders still favor the input of fund into Equity markets. WTI Crude prices begin to soften after hitting above 61.00 levels for completing the upward reversal correction. On Friday, American payroll showed higher job creations and triggered resurgent demand into Dow Jones markets. Asia may continue the bullish sentiment in early part of coming week.

Crude Oil

WTI Crude might have completed the upward correction at recent 62.50 highs as market recedes below 60.00 levels again. This week, we predict the market will continue to be capped below 61.00 resistances and prone to take a dive for price unwinding. Target is aimed at 56.00 levels if long traders begin to take profit. Pay...

Read More

Conservatives Secures Winning in British Election

A guest post written by DAR Wong

Currency Market Observations - 11 May 2015

Fundamental Outlook

The US trade deficits surge again on increasing imports. Payrolls rise and reach the expectation that lifts the Dow Jones markets in optimism. Greek moves in slow progressives for negotiating bailout program with European Union and may fail the repayment deadline in early next week. Focus has been put in Britain election with fruitful result in landslide victory for Conservatives Party.

The US Commerce Department reports the factory orders increased 2.1 percent in March, largest gains in past 8 months, after a revised 0.1 percent dip in February. Another report on trade deficits surged to its highest at 6-1/2 year record after imports increased. The Commerce department says the trade deficits jumped 43.1 percent to USD51.4 billion, the largest since October 2008, after the shortfall was revised at...

Read More

Gold and Oil Markets Report – 04 May 2015

A guest post written by DAR Wong and Chong HC

Dollar Index traded lower to 95.00 regions after US FED policymakers confirmed no immediate rate hike from last week meeting. General commodity prices and Crude recovered except metals. Dow Jones benchmark has been moving in steadfast pace that pulled the fund out of Gold and Silver instruments. Weekly Crude inventory was reported at 1.9 million barrels as of 25 April and lesser than previous week 5.3 million barrels, thus supporting oil prices.

Crude Oil

WTI Crude prices continue to climb for recovery amid receding Dollar strength. There has been no essential news in the oil market though the Saudi Arabia said the state enterprise Aramco will be separated from Oil Ministry to stay transparent. This week, we foresee the oil prices will continue to move higher at 62.00 before correction steps into...

Read More

Japan Cuts Growth Forecast in 2015

A guest post written by DAR Wong

Currency Market Observations - 04 May 2015

Fundamental Outlook

The US economy remains unsteady in recovery while policymakers have held to key rates unchanged. Japan slows down in retail sales and stagnates in industrial production. Eurozone releases first estimate for consumer prices at fatigue and U.K. also has rattled growth in first quarter.

The US service sector cooled down in April as Markit reports the index slipped to 57.8 from revised 59.2 in March. The Conference Board's Consumer Confidence reached 95.2 in April, below forecast and after the March reading was revised at 101.4.

Growth for first quarter in US economy rose 0.2 percent reflecting weaker consumer demand. Pending home sales gained 1.1 percent in March and much lower than the growth revised at 3.6 percent in previous month. In a separate report, the weekly jobless claims...

Read More

Gold and Oil Markets Report – 27 April 2015

A guest post written by DAR Wong and Chong HC

Dollar has started to correct into weaker prices but Gold prices have not exercised the bullish strength. Crude prices remained firm throughout last week above 55.00 levels and might make a final spike to reach 60.00 benchmarks before fizzling out. Weekly Crude inventories rose 5.3 million barrels in the week ended 18 April and has to slow down in order to lift the prices in coming week. Saudi Arabia resumes air strike at Yemen that caused the oil prices to be supported as short-term supply may be disrupted.

Crude Oil

WTI Crude prices have been hovering from 56.00 – 58.00 for many days. This week, the trend has to be supported at 54.00 areas and cannot be penetrated down if we presume the uptrend to follow through. Technically, we reckon the...

Read More

German Slows Down in Growth amid Greek Debt

A guest post written by DAR Wong

Currency Market Observations - 27 April 2015

Fundamental Outlook

The US housing markets reveal demand in existing homes probably due to easier mortgage loans. Japan shows recovery in rising exports and Yen is expected to weaken further to support growth. German slows down in growth and may drag Eurozone in coming months.

The US existing home sales hit 18-month high at 5.19 million annualized rates in March after it was revised at 4.89 million in the previous month. New home sales tumbled in March after the sales were reported at 481,000 annualized rates and below consensus, compared to revised 543,000 sales in previous month.

Weekly jobless claims increased 1,000 to a seasonally adjusted 295,000 for the week ended April 18, rising for third consecutive week. Orders for non-durable goods rose 4.0 percent in March after it slid...

Read More

Gold and Oil Markets Report – 20 April 2015

A guest post written by DAR Wong and Chong HC

Gold prices traded in sideways trend around 1200.00 levels last week. The tumble of US and European stocks towards end of last week might draw funds into yellow metal this week. Greek debt remains unresolved and has caused fear among investors in Euro zone. Dollar has been declining from 100.00 levels to 97.00 areas and lifted the Crude prices to 56.00 regions before weekend. The cut down in Crude inventories to 1.3 million in the week ended 11 April compared to 10.9 million in previous week also helped to spike up the energy prices.

Crude Oil

WTI Crude prices pierced the strong resistance at 54.00 levels and reached 56.00 regions. This week, we reckon the trend will sit tight on 54.00 regions and climb higher to make short-covering correction at 61.00...

Read More

Dow Jones Sheds amid Fear from Greece Default

A guest post written by DAR Wong

Currency Market Observations - 20 April 2015

Fundamental Outlook

The US consumer prices rise for second month but capped within consensus. China regulators will terminate margin lending to stock purchase and hammer American equities. Euro zone slows down in demand and fear of Greek default triggers market selloff. British economy remains steady.

The US producer prices expanded 0.2 percent in March after declined 0.5 percent in previous month, but still below forecast. Retail sales grew 0.9 percent and below expectation while core retail prices advanced 0.4 percent from February.

American jobless benefits rose 12,000 to a seasonally adjusted 294,000 for the week ended April 11. Building permit reflecting the groundbreakings increased 2.0 percent to a seasonally adjusted annual pace of 926,000 units, falling below expectation for a straight second month and signal difficulty to bounce off in...

Read More