Australia shares languish ahead of US payrolls; NZ slightly lower

Australian shares lost ground for a third consecutive session on Friday as apprehension mounted around potentially robust US jobs data, expected later in the day, which could bolster the argument for a US Federal Reserve rate rise in the near term.

The market also took cues from overnight moves on Wall Street, where stocks were flat with gains in the tech sector offsetting a disappointing US factory activity report and lower oil prices.

The S&P/ASX 200 index shed 52 points, or one per cent, to 5364.1 by 0316 GMT. The benchmark finished 0.3 per cent lower on Thursday.

Strength in the US labour market has inspired hawkish comments from some Federal Reserve officials of late, with vice chair Stanley Fischer and Cleveland Fed President Loretta Mester both hinting at an imminent rate hike.
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Stocks to watch: ST Engineering, Midas, China Everbright Water, Raffles Education

THE following stocks may be in focus on Thursday:

ST Marine: The turnkey shipbuilding subsidiary of Singapore Technologies Engineering is well-placed to land the first newbuilding contract that the Singapore Civil Defence Force (SCDF) is set to award in 2016, just over four years after the SCDF assumed the fire-fighting function within Singapore's waters. The Business Times understands that ST Marine has emerged as the frontrunner in a tender for the construction of three new vessels to undertake marine fire-fighting and rescue operations in Singapore's maritime waters.

Midas Holdings: Its subsidiary, Jilin Midas Aluminium Industries Co, has landed two supply contracts worth 53.8 million yuan (S$10.9 million) from customers in China, the company said in a release to Singapore Exchange on Wednesday.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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I-FOREX UPDATE of 11AUG ' 2016 BY EPIC RESEARCH

EUR/USD is currently trading with a declining Bullish bias. Yesterday, the pair rebounded

from a key support level 1.1073, headed perfectly long as previously forecasted but is currently

finding it hard to break above a key supply zone 1.1147-1.1157. We expect a possible

bearish rebound from this zone to go short while a clear breakout above 1.1157 may

invalidate the anticipated downward rally. This pair should be traded alongside EUR/HKD,

GBP/USD, NZD/USD and AUD/USD. These pairs have a strong positive correlation of up to

+0.96 and will have a similar price action duing this intraday

GBP/USD is currently trading with slight bearish bias. Earlier today, the pair found a key
support around 1.2997, headed long but is yet to reach our target resistance level 1.3099.
We expect to continue long up to 1.3099 or even higher to 1.3228. However, as long as
the current descending channel protects the upper side, we expect a continuation of the
downward rally that began on Thursday the previous week. This pair should be traded

alongside GBP/CHF, GBP/JPY, GBP/CAD and GBP/AUD. These pairs have a strong positive
correlation of up to +0.86 and will have a similar price action during this intraday.

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SINGAPORE IFOREX UPDATE BY EPIC RESEARCH ON 08th AUG'2016

EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair traded perfectly

short as previously forecasted and even hit our first target at 1.1112. The daily candle is

still pretty much bearish and may push the price further to the lower side but should not

go beyond 1.1047. Thus, during this intraday, we wait for the current upward retracement

to reverse from 1.1159 from where we’ll be looking for low risk sell opportunities. This

view can only be invalidated in case the pair end up above 1.1159. This pair should be

traded alongside EUR/HKD, GBP/USD and EUR/SGD. These pairs have a strong positive correlation
GBP/USD is currently trading with a slight bullish bias. Unfortunately our SL was hit when
the price broke below 1.3280 and even went below 1.3145. The current chart setup and
structure conveys a bearish sentiment, which means the current upward rally is a mere
retracement and should not go beyond 1.3224 from where we’ll be looking for potential
low risk sell orders. This pair should be traded alongside GBP/CHF, GBP/JPY, GBP/NZD, and
GBP/CAD. These pairs have a strong positive correlation of up to +0.86 and will have a
similar price action during this intraday.

of up to +0.96 and will have a similar price action during this intraday.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg

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US Stocks update Stocks end mostly flat as investors brace for key jobs report

U.S. stocks relinquished modest gains to end mostly flat Thursday as investors awaited the closely watched jobs report due Friday. An earlier bounce for equities, following the Bank of England’s decision to cut its key interest rate for the first time in seven years faded as Wall Street wrestled with mixed economic reports.

The S&P 500 index closed virtually flat at 2,164.25, with the tech and materials the only two sectors finishing in positive territory.

The Dow Jones Industrial Average ended near break-even at 18,352.05, with the blue-chip benchmark limited by a 1% fall in shares of Walt Disney Co., offsetting a 1% gain in Visa Inc..

The Nasdaq Composite Index  closed up 6.51 points, or 0.1%, at 5,166.25.

Friday’s jobs report is likely to command more attention given the surprising readings from the two previous labor data, according to Bruce Bittles, chief investment strategist at RW Baird & Co. A Labor Department report for June showed that a surprisingly strong 287,000 were created, following employment data for May that revealed a paltry 11,000 were created.

Economists surveyed by FactSet are projecting the U.S. economy to have added 185,000 jobs in July.

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Singapore shares open lower on Friday; STI down 0.06% to 2,830.22

SINGAPORE shares slipped early on Friday, with the Straits Times Index (STI) easing by 0.06 per cent, or 1.74 points, to 2,830.22 as at 9.04 am.

However, gainers outnumbered losers 77 to 48, or about three up for every two down, after 74 million shares worth S$125.2 million had changed hands.

DBSGroup Holdings slipped by 0.5 per cent, or eight Singapore cents, to S$14.96 as at 9.03 am amid concerns about the bank's exposure to the oil and gas sector following client Swiber Holdings' winding-up application.

Genting Singapore slid 4.4 per cent, or 3.5 Singapore cents, to 76 Singapore cents. The casino operator reported overnight that it had narrowed its second-quarter loss to S$10.5 million from a year-ago S$16.9 million.

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Epic Research Singapore : U.K Market Update

Growth in British house prices cooled for the third straight month in March, despite recording their biggest annual rise in almost four years, data from mortgage lender Nationwide showed on Wednesday.
 
House prices rose 0.4 per cent last month, the slowest pace of monthly growth since June last year, slowing from an upwardly revised 0.7 per cent increase in February, Nationwide said.

But in year-on-year terms, house prices in March were 9.5 per cent higher, stronger than a rise of 9.4 per cent in the 12 months to February and the biggest annual jump since May 2010.

The average price of a house in Britain now stands at 180,264 pounds (US$300,000), about 3 per cent below the 2007 peak unadjusted for inflation, Nationwide said. "There is little doubt that the recovery in the housing market is now firmly established, with activity levels picking up and house prices recording their 15th successive monthly increase in March.
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Epic Research Singapore : U.K Market Update

Inflation in the U.K. fell to the lowest level since 2009, mainly due to a decline in gas prices, the Office for National Statistics said on Tuesday. Headline yearly inflation last month slipped to 1.7% from 1.9% in January, broadly in line with analyst expectations. In January, the rise in consumer prices dropped below the Bank of England's 2% target for the first time since November 2009.
 
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