Share

Tweet this

Dealing Desk Hotline

(603)-2181 8848

Gold and Oil Markets Report – 19 December 2016

A guest post written by DAR Wong and Chong HC

The U.S. Federal Reserve tightened interest rates by 25 basis points on last Thursday in FOMC meeting. Precious metals declined to lower prices before weekend. Gold prices moves back to February low while Silver challenges 16.000 levels that is last seen in June. Crude prices also trade firmly above 50.00 benchmarks despite USDX floats strongly above 102.00 levels.

Crude Oil

WTI Crude prices have been holding above 50.00 while closed at 52.00 regions. This week, little action is expected in market and support will continues to hold at 50.00 areas until January. Topside resistances are seen at 55.00 areas in-lieu of traders observing the global production cut in next month. Shrinking supply is expected to lift the prices back to 60.00 if the OPEC members could keep their promise.

Gold

Gold prices broke 1150.00...

Read More

European Central Bank Extends Stimulus

A guest post written by DAR Wong

Currency Market Observations - 12 December 2016

Fundamental Outlook

The U.S. economy turns into expecting inflation as services and factory order increase. China reports inflation growth while Japan increases in current account surplus. Italy opts for rejection in national referendum to reforms. Britain gains in trade balance but housing demand wanes in construction.

The U.S. Institute of Supply Management reports the services index at 57.2 and highest since January. Factory orders for October rose 2.7 percent unexpectedly after the previous month was revised to 0.6 percent gains. Another report on trade deficits widened to USD42.6 billion in October and worse than USD36.2 in September.

American jobless claims for the week ended 3 December was reported at 258,000 and matched forecast. The University of Michigan reports the consumer sentiment for December at 98.00 and highest in almost 2 years, from...

Read More

Gold and Oil Markets Report – 12 December 2016

A guest post written by DAR Wong and Chong HC

The Dollar Index (USDX) returned to above 101.00 benchmarks on Friday close while Dow Jones markets reached historical new highs again. Demand in Gold weakened again but Silver prices were holding quite firm before weekend. Crude prices have been trading around USD50 /barrel without clear direction. Market oil traders are watching the execution of oil production cut in January before prices could ascend again.

Crude Oil

WTI Crude prices are resisted beneath 52.00 though it is trading in tight range above 50.00 benchmarks. Technically, we reckon the market movement will be ranged from 48.00 – 52.00 regions as we move into quiet year-end trading. January will be an important month to follow the action of OPEC execution in production cut before we could forecast the price direction.

Gold

Gold prices traded down to below...

Read More

American Payroll Rises above Expectation

A guest post written by DAR Wong

Currency Market Observations - 05 December 2016

Fundamental Outlook

The U.S. payroll rises while unemployment lowers to best record this year. China remains strong in manufacturing. OPEC group agrees to cut oil production from January onward to 32.5 million barrels per day. U.K. reports growth in mortgage borrowings and manufacturing.

The prelim GDP of U.S. economy in Q3 grew 3.2 percent and better than forecast. The Conference Board of consumer confidence gained to 107.1 in November and so far best record in this year.

The U.S. personal spending rose 0.3 percent in November but lower than revised 0.7 percent in October. Personal income grew 0.6 percent and beat 0.4 percent. Another report on pending home sales grew 0.1 percent in October and worst in past 4 months.

The U.S. Institute Supply Management reports manufacturing index rose to 53.2 in...

Read More

Gold and Oil Markets Report – 05 December 2016

A guest post written by DAR Wong and Chong HC

The Dollar Index (USDX) has begun to fall from 14-year high at 102.00 areas and closed at 100.65 on Friday. Precious metals have found support and may recover in coming weeks. OPEC group has agreed to cut oil supply among the 14 country members to daily 32.5 million barrels. However, market analysts remain skeptical and doubt the agreement will be reinforced. Market investors are observing the FOMC on 14 and 15 December in possible rate hike.

Crude Oil

WTI Crude prices advanced after the OPEC meeting outcome but unable to skip above 52.00 resistances. The trend is still largely constricted from 44.00 – 52.00 ranges unless it could extend beyond this range. This week, we reckon the trading activity may stay within 48.00 – 52.00 in mixed sentiment. Breaking above 52.00 resistance need...

Read More

Global Markets Analysis – 28 November 2016

A commentary written by Tony Tong

28.11.2016 周一 油脂类商品反弹上行行情延续中;前期低位接盘多单继续持有

美盘豆油1月合约,11月23日“一阳指”飙涨,已经指明短线后市走势方向。 在24日感恩节休盘一天后,上周五25日-于23日的长阳K线之右上角短暂小阴K线整理,今天周一早盘继续红盘阳K线表现,“两阳夹一阴”冲天炮反弹行情延续中,我们继续保持短多观点不变。

大陆内盘油脂商品豆油与棕榈油1701主力合约,上周四24日上影线剧烈波动之后,虽然盘中存在部分多头逢高减仓兑现获利筹码动作出现,但仍不改短线反弹上扬走势,随着上周五与本周一延续的阳K线表现-我们继续多单持有。

马盘毛棕榈油基准2月,上周四盘中期价高开低走中阴K线表现,盘中存在冲高回落迹象,虽然盘中存在一定恐慌情绪,但不会影响后期的震荡上行走势,我们仅仅需要的是坚强的心态(强大的心态源自强大的技术分析),对马盘棕榈我们继续保持短多思维,后市依旧看高一线。

小结:美元指数高位震荡之后出现冲高回落迹象,全球大宗商品上行压力减轻。 对油脂类商品来说-依托多头排列的均线系统,反弹上行行情延续中,虽然盘中出现期价反复的剧烈波动,但不会影响到我们的操作心态,建议散户朋友依旧短多观点对待。观点认为具体操作上:前期低位接盘多单继续乐观持有,后市仍有新高出现。

[SUMMARY]
• Dollar index shows signs of downtrend correction, easing upward pressure of global edible oils.
• The high volatility of edible oils would not affect our outlook: short-term long position.

[ACTION]
• Traders may maintain long positions there were initiated at low prices, as we anticipate a new high.

This post is contributed by OPF Guest Blogger, Tony Tong.

Tong used to be a capital market service rep licensed...

Read More

FOMC Minutes Cements Rate Hike Soon

A guest post written by DAR Wong

Currency Market Observations - 28 November 2016

Fundamental Outlook

The U.S. housing market rises in resale property while orders for durable goods improve. FED policymakers place high bet on increasing interest rate before year-end. Japan rattles into continual slow inflation but trade surplus grow due to weakening Yen.

The U.S. existing home sales rose 5.6 million in October and consecutive rise in second month. New homes sales in October was lower at 563,000 compared to 574,000 in prior month. Another report on orders for durable goods rose 4.8 percent in October from a month earlier, the fastest pace in a year.

American weekly claims for jobless benefits rose to 251,000 for the week ended 19 November and higher than 233,000 in previous week. The FOMC minutes reveals prone decision in raising rate in December. Policymakers bet highly on rate...

Read More

Gold and Oil Markets Report – 28 November 2016

A guest post written by DAR Wong and Chong HC

The Dollar Index (USDX) roe to fresh 14-year high above 102.00 last week. Gold and Silver tumbled out of expectation and also due to the delay of commencement in Shenzhen-Hong Kong Market Connect. Chinese authority has reaffirmed the commencement will be pushed backward to 5 December. Crude prices have been holding above USD48.00 per barrel throughout the week until it fell to USD46.00 levels on Friday. Investors are observing the OPEC meeting outcome on coming Wednesday.

Crude Oil

WTI Crude prices are mainly trading within the range of 42.00 – 49.00 regions. This week, we foresee the sentiment may be weak prior to OPEC meeting on Wednesday. Reversal from bottom areas is expected after mid-week and move back to 50.00 top areas towards the weekend. Observe the extension beyond aforementioned price range for...

Read More

FED Yellen Hints Imminent Rate Hike

A guest post written by DAR Wong

Currency Market Observations - 21 November 2016

Fundamental Outlook

The U.S. jobs claims contract to 43-year low with rising manufacturing. FED Yellen hints on possible timing for rate increment. Europe may fall into resurging crisis on reform constitution to be voted in Italy in December. Britain shows inflationary data on consumer prices and retail sales.

The U.S. retail sales gained 0.8 percent in October. Core retail sales, excluding transport equipment, also rose 0.8 percent and highest in past 6-month record. Another separate report on industrial production stayed unchanged in October versus minus 0.2 percent revised in previous month.

Producer prices also unchanged but fell below forecast. Core prices, excluding food and energy, fell 0.2 percent and negative for first time in past 3 months. The U.S. jobless claims was at 235,000 for the week ended 12 November, lowest...

Read More

Gold and Oil Markets Report – 21 November 2016

A guest post written by DAR Wong and Chong HC

The Dollar Index (USDX) closed above 101.00 on Friday at 11-year high record. Gold and Silver prices declined last week in reaction to rising greenback. Crude prices are still wavering sideways while waiting for end November in-lieu of OPEC meeting. Traders are observing the Chinese stock markets in Shenzhen and Hong Kong to react on coming Monday when they become mutually connected for cross-border trades.

Crude Oil

WTI Crude prices moved back to above 46.00 levels on Friday closing. Resistance is expected to emerge here around 46.00 and likely might fall again to 42.00 levels. In short, we reckon sideways trend will prevail in aforementioned range until we hear from OPEC meeting’s decision after 30 November.

Gold

Gold prices have become very uncertain as Dollar rises recently after Trump’s winning. The trend is seen...

Read More

SiteLock