China: Stocks decline as hopes for policy easing fade

China stocks slipped on Wednesday, pulled down by financial shares amid receding expectations of aggressive monetary easing, while property shares also declined.

The CSI300 index, which tracks the largest listed companies trading in Shanghai and Shenzhen, fell 0.4 per cent, to 3,329.86 points. The Shanghai Composite Index lost 0.1 per cent, to 3,085.88 points.

China's central bank on Wednesday injected cash into money markets through 14-day reverse repurchase agreements for the first time since February, and traders said the prospect of more liquidity injections trimmed expectations of further aggressive monetary easing.

The property shares finished lower with subindex losing 1.55 per cent. China Vanke Co was among the top losers, which dropped 2.87 per cent.

The financial subindex was down 0.73 per cent.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 COMEX UPDATE BY EPIC RESEARCH

 Oil prices edged lower in European trade on Thursday, after rallying more than 3% overnight after a larger-thanexpected

gasoline draw eased concerns about global supply glut.Crude oil for September delivery on the New York

Mercantile Exchange dipped 7 cents, or 0.14%, to trade at $40.78 a barrel by 07:52GMT, or 3:52AM ET.A day earlier,

New York-traded oil jumped $1.32, or 3.34%, after data showed that gasoline supplies in the U.S. fell sharply last week,

offsetting a surprise build in crude stockpiles.

 Gold prices added to overnight losses in European trade on Thursday, as the U.S. dollar strengthened with investors

focused on the Bank of England's policy announcement later in the session.The BOE will release its rate decision,

minutes of its Monetary Policy Committee meeting and its quarterly inflation report at 11:00GMT, or 07:00AM ET,

on Thursday

 Nickel futures tumbled by more than 2 per cent during noon trade in the domestic market on Thursday as investors

and speculators exited positions in the industrial metal amid weak physical demand for nickel from alloy-makers in the

spot market.Mixed US economic data signaled an uncertain demand outlook for metals as services activity cooled in

July but private employment growth was stronger.

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OIL UPDATE EPIC RESEARCH SINGAPORE

Oil ends higher for second day in wake of supply data Natural gas storage sees first summer decline since 2006

Oil futures regained positive momentum after a morning of up-and-down trading Thursday, building on strong gains scored after an unexpectedly large drop in gasoline supplies on Wednesday.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in September  rose $1.10 a barrel, or 2.7%, to settle at $41.93 a barrel. Oil pushed solidly higher after flipping between gains and losses in early action, marking its biggest two-day percentage gain since June 29.

Oil has been under pressure as traders wrestle with a global glut of crude and worries about the outlook for global economic growth. Futures fell below $40 a barrel earlier this week on worries about a global glut.

The rebound back above $40 came as “traders attempt to balance declining North American production levels and expectations of increasing global fuel demands (the EIA forecasts global oil demand to increase by 1.3M barrels a day in 2017) in the coming year against the near glut levels of global petroleum inventories that overhang the market,” wrote analysts at TFS Energy, in a note.

October Brent crude  on London’s ICE Futures exchange rose $1.19, or 2.8%, to $44.29 barrel, after rallying $1.30, or 3.1% to $43.10 a barrel Wednesday.

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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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Oil Market Update : Epic Research Singapore

Crude-oil futures finished lower, with ongoing concerns over a global glut of supplies keeping prices for the U.S. benchmark under $60 a barrel.

On the oil front, July crude CLN5, +0.94%  fell 44 cents, or 0.7%, to end at $59.52 a barrel, following a gain of 1.4% last week.

July Brent crude LCON5, -1.97% which expired at the end of the session, fell $1.26, or 2%, to $62.61 a barrel on London’s ICE Futures exchange, while the more actively traded August crude finished at $63.95 a barrel, down 69 cents, or 1.1%.

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