Share

Tweet this

Dealing Desk Hotline

(603)-2181 8848

Gold and Oil Markets Report – 14 November 2016

A guest post written by DAR Wong and Chong HC

The Dollar Index (USDX) reversed fiercely from 96.00 to 99.00 levels after the U.S. Election, thus punting down all precious metals and Bond prices. Market analysts interpret the American economy might surge into quick inflation as Trump’s policy is prone to massive building of country’s infrastructure. Gold sank to 5-month low while Silver settled at 4-week low before the weekend close.

Crude Oil

WTI Crude prices traded from 43.00 – 46.00 ranges last week as we predicted. However, market settled near to aforementioned low for weekend. This week, we suggest the observation of breaking the 43.00 supports in case the trend dips down to 40.00 regions. Supply glut from OPEC countries still play as an important clue to decide the trend of Crude prices.

Gold

Gold prices broke 1250.00 supports on Friday and settled...

Read More

Dow Jones Decline in-lieu of December Rate Hike

A guest post written by DAR Wong

Currency Market Observations - 07 November 2016

Fundamental Outlook

The U.S. leaves interest rates unchanged ahead of U.S. election while payrolls grow steadily. Both Bank of Japan and Bank of England also remain status-quo in monetary policy. U.K. paces recovery in manufacturing and services while investors are watching closely for BREXIT execution that will influence Pound trend.

The U.S. personal spending for September rose 0.5 percent and highest in 8 months. The data from Institute of Supply Management reports its manufacturing index in October grew to 51.9 and matched forecast. Above 50.0 indicates expansion. Another report on this institute shows services index expanded at 54.8 in October and lower than previous month 57.1 reading.

The U.S. FED leaves interest rates unchanged as policymakers eye December for rate hike if inflation growth stays on track. Weekly jobless claims rose to...

Read More

Gold and Oil Markets Report – 07 November 2016

A guest post written by DAR Wong and Chong HC

Gold and Silver have resurged in recovery while Crude prices are threatened from global supply glut. Dollar Index has fallen from recent highs around 99.00 regions to 97.00 levels. The U.S. country is going Presidential polling on 8 November and uncertainty has arisen in Dow Jones markets, causing it to fall below 18,000 levels last week. Commodity prices will be ready to soar from now onwards in the event of weakening Dollar.

Crude Oil

WTI Crude prices have moved as we predicted last week on a declining trend. This week, we foresee the trend may either consolidate from 43.00 – 47.00 ranges in sideways movement, or plunge lower beneath 43.00 supports. If the global equity markets drop, it is likely to slide with Crude prices towards 40.00 targets. OPEC meeting will be held...

Read More

American Has Best Growth in Past 2 Years

A guest post written by DAR Wong

Currency Market Observations - 31 October 2016

Fundamental Outlook

The U.S. housing demand grows moderately while quarterly GDP gains at highest record in 2 years. Eurozone maintains steady pace and U.K. observes BREXIT policy in coming 2017. British grows above forecast in recent quarterly report.

The U.S. Conference Board of consumer confidence drops to 98.6 from revised 103.5 in September. New home sales grew 593,000 in September after the previous month was revised down to 575,000. On separate report, pending home sales was up 1.5 percent in September and above forecast.

American weekly claims on jobless benefits marks at 258,000 in the week ended 22 October and lower than 261,000 revised in prior week. Core durable goods, excluding transport equipment, rose 0.2 percent in September versus minus 0.2 percent revised in August.

The U.S. GDP rose 2.9 percent in...

Read More

Gold and Oil Markets Report – 31 October 2016

A guest post written by DAR Wong and Chong HC

Gold and Silver prices have been threading sideways last week but showed signal of rising on Friday before market closed. Dollar Index exhibits toppish pattern and may turn down from 99.00 levels this week. However, energy prices in Crude have turned softer as supply cut in global oil production could not be agreed by some OPEC members. Market awaits U.S. Presidential Election as headway to lead new direction in Dollar and interest rate policy.

Crude Oil

WTI Crude prices slid beneath 50.00 levels before last weekend. Market sentiment returns to weakness despite Dollar is prone to soften, mainly due to skeptical outlook of global cut in OPEC members. Iraq says they will be exempted from production cut as revenue is needed to fight terrorism within the country. This week, we foresee range is...

Read More

China Grows 6.7 percent in GDP

A guest post written by DAR Wong

Currency Market Observations - 24 October 2016

Fundamental Outlook

The U.S labor market stays strong on weekly claims but inflation still sluggish. China grows 6.7 percent in GDP that matches forecast. European Central Bank President Draghi vows for more action despite no mention on stimulus details. U.K. slacks in producing cost despite consumer prices increase.

The U.S. industrial output including utilities and mines rose 0.1 percent in September from a minus 0.5 percent revised in August. Consumer prices rose 0.3 percent and matched consensus. Core prices, excluding food and energy, gained 0.1 percent but below previous month and forecast.

Weekly crude inventories dropped 5.2 million last week and lifted the energy prices. American building permits rose 1.23 million in September and best in 9-months record after the previous month was revised at 1.15 million gains. Housing starts increased...

Read More

Gold and Oil Markets Report – 24 October 2016

A guest post written by DAR Wong and Chong HC

Gold rises moderately while Silver trades sideways. Crude prices float above USD50 /barrel after OPEC group vowed to cut supply in next meeting to be held in end November. The U.S. Crude inventories dropped 5.2 million last week and lifted the Crude prices above USD50 /barrel despite high rolling Dollar.

Crude Oil

WTI Crude prices are very toppish at 52.00 levels while waiting for another 1 month for OPEC meeting. Technically, we are doubtful of further rise in Crude prices until we get over U.S. Presidential Election and moving towards end November. This week, sideways trend is expected from 46.00 – 52.00 ranges. Trade cautiously for short-term profit with risk guarded on both direction.

Gold

Gold prices are hovering around 1270.00 regions and will likely consolidate further in coming week. Technically, we reckon the...

Read More

Gold and Oil Markets Report – 17 October 2016

A guest post written by DAR Wong and Chong HC

Precious metals moved in tight ranges last week while consolidated ion low side or price movements. Crude prices hovers around USD50.00 per barrel and still waiting for Dollar direction and indication from OPEC organization. European Deutsche Bank is in debt woes and German Chancellor says government will not bail out the bank if it fails. In China, inflation data increase in consumer and producer prices and revive demand in regional stock markets.

Crude Oil

WTI Crude prices failed to conquer above 52.0 levels last week. Market is toppish while waiting for more confirmation from OPEC meeting in end November. Currently, we believe the market could be sensitive to Dollar as lead factor to move commodity prices. This week, the market may trade from 48.00 – 52.00 regions while prone to trade lower.

Gold

Gold...

Read More

American Payroll Grows in Steady Pace

A guest post written by DAR Wong

Currency Market Observations - 10 October 2016

Fundamental Outlook

The U.S. payroll grows in small pace that hampers potential rate hike until end of year. Japan slows down in growth but Yen drops out of profit taking in USD/JPY market. Eurozone poises for steady economic pace while British Pound slides into panic selling due to initiation of BREXIT announced by Theresa May.

The U.S. Institute of Supply Management reports manufacturing index at 51.5 in September and above 50 benchmarks. The separate report on service index by same institution rose to 57.1 in September and highest in a year’s record. Another report on factory orders from manufacturers gained 0.2 percent in August versus 1.4 gains growth in prior month.

The U.S. weekly claims for jobless benefits for the week ended 1 October dropped to 5-month low at 249,000. American non-farm...

Read More

Gold and Oil Markets Report – 10 October 2016

A guest post written by DAR Wong and Chong HC

Gold and Silver fell last week due to flight back to USD from BREXIT fear. Demand has been removed due to China long holiday which might return this week from market bottom. Crude prices climbed and tried 50.00 levels but failed to stand for solid gains. American payroll is flat at forecast data and put expectation of delay in rate hike until December. Stock indexes have been quite dormant despite swings in commodity and USD prices, but could be due to move in coming week.

Crude Oil

WTI Crude prices touched above 50.00 levels and dropped on Friday despite metals slide. Market focus are laid on supply cut in November but analysts expect no genuine bulls in market until we hear clear direction from OPEC meeting next month. This week, we expect the...

Read More

SiteLock