Europe: Shares rise at open, buoyed by Elekta

European shares rose at the open on Thursday as commodity stocks recovered from recent falls, with a leading index also buoyed by well-received results from Sweden's Elekta to start September on a positive footing.

The Stoxx Europe 600 rose 0.6 per cent, after finishing August with a 0.4 per cent fall on Wednesday as commodity prices slumped.

However, oil prices stabilised and metal prices recovered on Thursday, leaving the energy and mining sectors up 0.5 per cent and 1.3 per cent respectively. Banks continued a recent rally and were the top sectoral risers, with HSBC up 2.4 per cent.

Elekta was the top single-stock gainer on the Stoxx 600, up 5.2 per cent after the maker of radiation therapy equipment posted Q1 core profit above forecast and said demand had been good in emerging markets, with China particularly strong.

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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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COMEX UPDATE 10th AUG'2016 BY EPIC RESEARCH

Oil edged further above $45 a barrel on Tuesday as forecasts for a drop in U.S. inventories and speculation of producer

action to prop up prices countered concern about a supply glut.Total U.S. crude inventories were expected to fall by 1

million barrels in weekly reports, although market intelligence firm Genscape has reported a rise of more than 307,000

barrels at the Cushing, Oklahoma U.S. crude delivery hub, traders said.

 Gold prices slumped to a one-week low in European trade on Tuesday, amid growing expectations of a U.S. interest

rate hike by the end of this year.Gold for December delivery on the Comex division of the New York Mercantile Exchange

fell to a session low of $1,336.70 a troy ounce, the weakest since July 29. It was last at $1,337.15 by 06:59GMT,

or 2:59AM ET, down $4.15, or 0.31%.

 Copper futures fell during late noon trade in the domestic market on Tuesday as investors and speculators cut positions

in the industrial metal as improved China inflation data dimmed the case for fresh policy easing dampening demand

prospects.China’s producer prices fell 1.7 per cent year on year in July 2016 marking the smallest decline in

nearly two years while consumer inflation stood at 2 per cent matching analysts’ estimates.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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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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SINGAPORE IFOREX UPDATE BY EPIC RESEARCH

EUR/USD is currently trading with a bearish bias. Yesterday, instead of going long as previously

forecasted, the pair rallied to the lower side and ended up closing below a key support

level 1.1159. Although we expect further movements to the lower side, we are waiting

for minor retracements to the upper side to give us low risk sell opportunities. This

view remains valid as long as the pair trades below 1.1159, a clear breakout above this

level may invalidated the anticipated upward rally. Trade Euro alongside EUR/HKD, GBP/

USD and AUD/USD. These pairs have a strong positive correlation of up to +0.96 and will

The pound slipped lower against the U.S. dollar on Thursday, as investors remained cautious
ahead of the Bank of England’s policy decision, due later in the day, amid mounting
expectations for a rate cut.GBP/USD hit 1.3279 during European morning trade, the session
low; the pair subsequently consolidated at 1.3301, shedding 0.18%.Cable was likely
to find support at 1.3169, the low of August 2 and resistance at 1.3480, the high of July
15.The BoE was expected to lower interest rates by 25 basis points later Thursday, as a
string of downbeat economic reports from the U.K. recently sparked concerns over the
outlook for growth.Meanwhile, the dollar remained mildly supported after payroll processor
ADP said on Wednesday that the U.S. private sector added 179,000 jobs last month,
surpassing expectations for an increase of 170,000.

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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 close mixed as pressure eases on O&M sector

Street's avoidance of an eighth straight loss on Wednesday helped bring some stability here on Thursday via short-covering that lifted the Straits Times Index 4.38 points to 2,831.96. Bounces in Singtel, SGX and SPH contributed to this gain, on a day when the advance-decline score excluding warrants was 219-175, indicating a more mixed session than the index's reading would suggest.

There was little indication in the futures market as to how Wall Street would trade on Thursday, with the Dow futures edging slightly higher but the S&P 500 futures falling marginally. Europe's positive opening in the late afternoon shed little additional light as most of the markets there had also come under selling pressure in recent days.

Noble Group topped the actives list when it rebounded from several days of selling, gaining S$0.013 or almost 10 per cent at S$0.145 on volume of about 400 million.

Offshore and marine (O&M) stocks enjoyed some respite after oil inched higher in overnight trading, its price rising above S$40 per barrel after falling to S$39 a day earlier. SembCorp Marine rose S$0.01 to S$1.335 on volume of 3.4 million but parent SembCorp Industries (SCI) fell S$0.02 to S$2.72 with a heavy 13.9 million traded.


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SINGAPORE I-FOREX UPDATE BY EPIC RESEARCH

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

previously forecasted but is yet to reach our set target resistance level at 1.1239. The daily

candle is still pretty much bullish and will likely push the price further to the upper side.

Thus, during this intraday, we expect a possible bullish price rally towards 1.1239 or even

higher to 1.1264. This pair should be traded alongside EUR/JPY, AUD/USD, NZD/USD and

GBP/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar

price action during this intraday.




The pound slipped lower against the U.S. dollar on Wednesday, after data showed that

U.K. service sector activity contracted for the first time in more than three years and as investors

eyed the Bank of England’s policy meeting on Thursday.GBP/USD hit 1.3287 during

European morning trade, the session low; the pair subsequently consolidated at 1.3334,

edging down 0.17%.Cable was likely to find support at 1.3169, the low of August 2 and resistance

at 1.3480, the high of July 15.Research group Markit said its U.K. services purchasing

managers’ index dropped to 47.4 last month from a reading of 52.3 in June. It was

the lowest level since December 2012.The weak data added to expectations for a rate cut



by the BoE at its policy meeting on Thursday.
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Epic Research Singapore : Forex Market Update

The euro EURUSD -0.25%  fell versus the dollar to $1.3661 from Wednesday’s level of $1.3680, as escalating tensions in Ukraine amid Russian military drills have spooked investors and put pressure on the euro.

The British pound GBPUSD -0.17%   also weakened against the greenback, trading at $1.6641 from $1.6658.

The dollar USDJPY -0.22%  dropped against the Japanese yen, down to ¥102.22 from ¥102.44 late Wednesday. 
 
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Epic Research Singapore : Forex Market Update

The dollar extended losses on Tuesday against most major currencies, ahead of the release of U.S. consumer-confidence and home-price data later in the day.

The ICE dollar index DXY -0.12% , which tracks the greenback against six rival currencies, fell to 80.12, from 80.212 late Monday. The WSJ Dollar index XX:BUXX -0.06%  , an alternate measure of the U.S. unit’s strength against a broader basket of comparison currencies, remained unchanged at 73.55, from Monday’s level of 73.59.

The Japanese yen, the dollar USDJPY -0.15%  dropped to ¥102.31, from ¥102.44 late Monday.

The British pound GBPUSD +0.23%  also rose, to $1.6679 from Monday’s $1.6656.

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Epic Research Singapore : Forex Market Update

The U.S. dollar fell against the Australian dollar and British pound Monday as investors continued to weigh the potential weather drag on recent economic data, and wether or not it could sway monetary policy.  
he British pound GBPUSD +0.06% rose to $1.6656 from $1.6629 late Friday, while the Australian dollar AUDUSD -0.08%  rose to 90.32 U.S. cents from 89.68 U.S. cents

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Epic Research Singapore : U.K Market Update

Britain's services firms expect to hire more staff and make new investments in 2014 amid the best environment for expansion in a decade, according to a survey Monday.

Two-thirds of consumer-facing firms, such as hotels and bars, and 73% of accountants, lawyers and other business services firms polled by the Confederation of British Industry expect to expand this year, the CBI said Monday.

The poll adds to evidence that the U.K. economy will continue to expand this year after registering the strongest growth last year since 2007.

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Epic Research Singapore : Forex Market Update

The euro fell for a second straight day against the dollar yesterday, pulling away from seven-week highs, after eurozone business surveys pointed to a sluggish recovery and underlined a fragile outlook for the currency bloc.
The euro fell to a session low of US$1.3685, pulling further away from a seven-week high of US$1.37735 struck this week, and down 0.3 per cent on the day. The euro's weakness was broad- based, losing ground against the British pound, the Swiss franc 

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Epic Research Singapore : Forex Market Update

The U.S. dollar gained against many of its rivals Thursday, despite mixed data that raised questions about economic growth, as investors took on more risk and ditched safer assets.

After the data, the ICE dollar index DXY +0.05% , which tracks the U.S. unit against six other currencies, was at 80.280, up from 80.191 late Wednesday. The WSJ Dollar index XX:BUXX +0.08% , an alternate gauge of the greenback’s strength against a broader basket of rival currencies, inched higher to 73.65 from 73.62.

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Epic Research Singapore : Forex Market Update

The euro EURJPY +0.76%  also jumped against the yen, buying ¥140.55 from around ¥139.50.

The Australian dollar AUDUSD +0.07%   pulled back against the greenback following the minutes, trading at 90.59 U.S. cents compared with 90.71 U.S. cents before the minutes were released. The Aussie late Monday fetched 90.52 U.S. cents.
Elsewhere in the market, the British pound GBPUSD +0.08%   was at $1.6732, down from $1.6790 ahead of U.K. inflation data. The euro EURUSD -0.02%   was largely unchanged at $1.3714 from $1.3710.

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Epic Research Singapore : Forex Market Update

The dollar also edged lower against other rivals as investors digested mixed U.S. economic data released recently, including a 0.3% drop in industrial production, unchanged consumer sentiment in February, and an unexpected fall of 0.4% in retail sales in January, which has sparked some concerns that the U.S. economic recovery is losing steam.
The British pound GBPUSD +0.14%   advanced to $1.6790 from $1.6748 late Friday, and the euro EURUSD +0.07%   moved higher to $1.3710 from $1.3698.

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Epic Research Singapore : Forex Market Update

The dollar lost ground against the Japanese yen and other major currencies on Monday, as recent weakness in Japan equities hurt investors’ risk appetite and disappointing U.S. data triggered concerns for a slowing economic recovery. 

Against the yen, the dollar USDJPY -0.03%   dropped to ¥101.56 from ¥101.81 late Friday, even as the Nikkei Average JP:NIK +0.56%  managed to end with a 0.6% gain Monday.
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Epic Research Singapore : U.S Market Update

Asian markets rose on Monday, with Hong Kong leading the region higher, while Japanese stocks were weighed by the release of disappointing growth numbers.

Hong Kong’s Hang Seng Index added 1.2% and the Shanghai Composite rose by 0.3%, after Chinese bank loans jumped more than expected in January, with financial institutions issuing 1.32 trillion yuan ($217.6 billion) worth of new loans last month. Although Chinese banks typically make more loans at the beginning of the year, it was interpreted by the market that demand in the economy is strong

The yen started to strengthen when the data was released, with the dollar last at ¥101.58 compared with ¥101.80 late Friday in New York. This added to the dollar’s 0.4% loss on Friday.

 

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Epic Research Singapore : Forex Market Update

The dollar USDJPY +0.24% rose to ¥102.27 from ¥102.10 late Thursday. For the week, the dollar gained 0.3% against the yen.
The euro EURUSD +0.33% rose to $1.3637 from $1.3588, while the British pound GBPUSD +0.56%  increased to $1.6418 from $1.6323 late Thursday. For the week, the pound fell 0.2% against the greenback.






 
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Epic Research Singapore : U.S Market Update

U.S. stocks finished Thursday with the best gains in seven weeks as investors welcomed a larger-than-expected drop in weekly jobless claims and upbeat earnings from companies including Walt Disney Co.
Thursday’s jobless claims data set an optimistic tone for Friday’s non-farm payrolls report due at 8:30 a.m. Eastern.
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