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Showing posts with label intraday stock tips. Show all posts
Showing posts with label intraday stock tips. Show all posts

Thursday, 6 December 2018


BULLION:-

Gold prices rose slightly on Friday and were headed for their best week in 15, as the dollar weakened following a decline in U.S. Treasury yields, while investors awaited U.S. nonfarm payroll data for clues about the health of the world's top economy. Atlanta Federal Reserve bank president Raphael Bostic on Thursday said he felt the Fed should continue raising rates towards a "neutral" level, noting that despite recent market volatility and increasing uncertainty, he did not see "any indications of a material weakening in the macroeconomic data at the moment." The U.S. economy is "performing very well overall," Federal Reserve Chairman Jerome Powell said, capping a week of widespread market nervousness with a reminder that the U.S. economy continues to expand. Asian share markets tried to find their footing on Friday as speculation the Federal Reserve might be "one-and-done" with U.S. rate hikes helped salve some wounds after a punishing week.

METALS:-

London copper slid to a low of $6,080/mt on Thursday as shorts added their positions after the contract climbed to a high of $6,120.5/mt. LME copper later rebounded to end at $6,134.5/mt. After opening in the red, the SHFE 1902 contract fluctuated overnight and closed at 48,950 yuan/mt. As both LME and SHFE copper have fallen below all short-term moving averages, copper prices are expected to remain weak and trade range bound at lows today. LME copper is likely to trade at $6,080-6,120/mt today with the SHFE 1902 contract at 48,600-49,000 yuan/mt. Spot premiums are seen at 120-320 yuan/mt. London nickel slumped on Thursday and ended at $10,860/mt. After opening lower, the SHFE 1901 contract fell to 88,640 yuan/mt overnight as shorts added and longs cut their bets. It clawed back some losses in later trades and closed at 89,010 yuan/mt. With worries over an escalation in the US-China trade tensions on Huawei CFO arrest, We expect LME nickel to weaken when hovering around $10,900/mt today and the SHFE 1901 contract to trade at 88,500-90,000 yuan/mt. Spot prices are seen at 88,500-98,000 yuan/mt.

ENERGY:-

Oil prices fell on Friday, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. The declines came after crude slumped by almost 3 percent the previous day, with the Organization of the Petroleum Exporting Countries (OPEC) ending a meeting at its headquarters in Vienna, Austria, on Thursday without announcing a decision to cut crude supply, instead preparing to debate the matter on Friday.Has decided to meet Friday again...(as) Russia remains the sticking point," said Stephen Innes, head of trading for Asia/Pacific at futures brokerage Oanda in Singapore. "We are beginning to witness the outline of the next iteration of production cuts, with OPEC conforming to cut its own production by around 1 million barrels per day, with the cartel lobbying non-OPEC members to contribute more," Japanese bank MUFG said in a note. Oil producers have been hit by a 30-percent plunge in crude prices since October as supply surges just as the demand outlook weakens amid a global economic slowdown. Output from the world's biggest producers - OPEC, Russia and the United States - has increased by 3.3 million bpd since the end of 2017, to 56.38 million bpd, meeting almost 60 percent of global consumption.


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Monday, 12 November 2018



BULLION:-

Gold prices were steady on Monday, having dipped to a one-month low in the previous session after the U.S. dollar firmed on the Federal Reserve’s plans to gradually keep tightening borrowing costs. The dollar index, which measures the greenback against a basket of six major currencies, inched up 0.1 percent. The greenback built on last week’s gains and rose towards a 16-month high. Asian shares fell on Monday, extending weakness in global equity markets at the end of last week as soft Chinese economic data and falling oil prices rekindled anxiety about the outlook for world growth. U.S. producer prices rose more than expected in October and at their fastest pace in six years but measures of underlying price pressure cooled, bolstering the view that the U.S. central bank is not facing resurgence in inflation. Former British foreign minister Boris Johnson called again on Sunday for Prime Minister Theresa May to change course on Brexit, accusing her of forcing through a deal to keep the country locked in the EU’s customs union in a “total surrender”. Italy’s economy minister is looking to revise down the budget’s growth forecast for next year to try to reach a deal with the European Commission over fiscal policy, a government source said on Sunday.  

METALS:-

Nickel prices on both the London and Shanghai exchanges fell on Monday to near 11-month lows due to pressure from a strong U.S. dollar and concerns over economic growth in China. The dollar built on last week’s gains and rose towards a 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy. The stronger U.S. currency makes dollar-denominated metals more expensive for buyers paying in other currencies. Macroeconomic concerns such as U.S.-China trade tensions have been weighing on industrial metals. Nickel is used mainly in steelmaking. China’s northern province of Hebei, China’s top steel producer, asked 10 major cities and Xiongan new district in the region to issue an orange smog alert, the local government said in a statement on Monday. Under an orange alert, the second-highest warning behind red in China’s four-tier system, steel mills must halve their output, while coal-fired power utilities must operate at “minimum” levels.  

ENERGY:-


Oil prices rose on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen a crude decline by 20 per cent since early October. Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December, its energy minister said on Sunday, as the Opec power faces uncertain prospects in its attempts to persuade other producers to agree a coordinated output cut. Khalid al-Falih told reporters that Saudi Aramco's customer crude oil nominations would fall by 500,000 bpd in December versus November due to seasonal lower demand. The cut represents a reduction in global oil supply of about 0.5%. The announcement came after crude prices declined by around 20 per cent over a month, as supply has surged, especially by the top-three producers USA, Russia and Saudi Arabia. A big concern for Saudi Arabia and other traditional producers from the Middle East dominated Organization of the Petroleum Exporting Countries (Opec) is the surge in US output. US energy firms last week added 12 oil rigs in the week to Nov. 9 looking for new reserves, bringing the total count to 886, the highest level since March 2015, Baker Hughes energy services firm said on Friday.  


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Thursday, 25 October 2018


BULLION:-

Gold prices tiptoed lower while crude oil prices rose tepidly with stocks amid a brief interlude in the broad-based risk appetite collapse defining financial markets this week (as expected). These moves’ corrective character was made plain soon enough however as sentiment soured anew in Asia Pacific trade. Third-quarter US GDP data may amplify the risk-off push. Growth is seen slowing to an annualized rate of 3.3 percent, down from the four-year high of 4.2 percent previously. That is both a large-enough comedown to rattle already jittery investors and a strong-enough print to keep Fed rate hikes on track.

METALS:-

On Thursday, LME copper rebounded to $6,200/mt from a two-week low of $6,113.5/mt after data showed that LME inventory decreased to a 12-year low. A robust dollar then forced it to give up some gains before the contract refreshed day-highs of $6,227.5/mt on short-covering. As shorts took profits, the SHFE 1812 contract crept to session-highs of 50,390 yuan/mt before it edged down by closing. In the physical market, spot discounts are likely to widen after long-term contracts were completed and as copper prices rose. Downstream consumers stood on sidelines. LME copper is likely to trade at $6,150-6,220/mt today with the SHFE 1812 contract at 49,900-50,400 yuan/mt. Spot discounts are seen at 80-30 yuan/mt.


ENERGY:-


Oil prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand. Saudi Arabia's OPEC governor said on Thursday that the oil market could face oversupply in the current quarter. Saudi Arabia Energy Minister Khalid Al-Falih said there could be a need for intervention to reduce oil stockpiles after increases in recent months. Crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week. in stock markets have roiled oil prices this week as Wall Street had its biggest daily decline since 2011 near $10 per barrel drop in Brent crude seen over October is a spillover from the global sell-off in equities and broader risk-off sentiment in the market," said Fitch Solutions.


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Wednesday, 24 October 2018


BULLION:-

Gold fell on Wednesday, as a rising dollar spurred investors to take profits after tumbling stocks pushed the metal to a more than three-month peak in the previous session. The dollar, as measured against a basket of other currencies .DXY , hit its highest since Aug. 17, potentially weighing on demand by making bullion more expensive for holders of non-dollar currencies. U.S equities were in the red, pressured by disappointing earnings, concerns over Italy's budget and worries that world economic growth is losing steam. Gold was expected to stay supported as investors were likely to use bullion as insurance against growing political and economic tensions in the world, some analysts said.

METALS:-

Downbeat economic data across Europe and upbeat data for the US shored up the US dollar index overnight and weighed on LME copper. LME copper fell past $6,200/mt to a low of $6,171/mt overnight. The SHFE 1812 contract ended in the red overnight even as it rebounded from a low of 49,980 yuan/mt. In addition to the robust US dollar, weakness across equity markets which dented investor risk appetite also pressured copper prices. LME inventories have gained for two consecutive days while downstream consumption has yet to pick up. Long-term contracts would be delivered today, which is likely to activate the physical market today. LME copper is expected to trade at $6,120-6,180/mt today with the SHFE 1812 contract at 49,900-50,180 yuan/mt. Spot discounts are seen up to 50 yuan/mt.

ENERGY:-


  Oil prices fell by around one percent on Thursday, coming under pressure from sharp selloffs in global stock markets, with U.S. stocks posting the biggest daily decline since 2011 to wipe out the year's gains. Oil prices fell under extreme selling pressure ... as the steep selloff across stock markets fuelled fears over a possible drop in oil demand growth," said Lukman Otunuga, analyst at futures brokerage FXTM. Markets have been hit hard this month by a range of worries, including the Sino-U.S. trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, as well as economic concerns in Italy. oil, WTI has fallen nearly 10 percent so far this month, while Brent is down nearly 9 percent.


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Thursday, 13 September 2018


India is the world's largest gold consumption country. In this way, to meet its needs, every year 900-1000 tonnes of gold is imported. Whose negative impact is on the economy of the country. Whereas, about 20,000-24,000 thousand tonnes of gold is lying idle in homes, temples and trusts across the country. The government wants to get rid of this gold reservoir in the economy and put it in the economy. For this, the government is in the process of getting the gold monetization scheme and its draft note has been prepared. This scheme is expected to get cabinet approval soon.

Under the Gold Monetization scheme, the customer has to deposit his gold, jewelery and coins at the centers set by the government. After scrutinizing it, the customer will be issued a certificate equal to the quantity of gold after melting. On the basis of which the customer will be able to get interest by opening a Gold Savings account in the bank. The government will reduce the import of gold through this scheme, which can reduce its import by 10-20%. At the same time, the government expects that this scheme will reduce the import bill of gold. Which can be used to improve the economy and improve development. Gold Monetization Scheme will increase circulation of gold reserves in the country. Apart from this, the inclusion of Gold in CRR, SLR will increase the cash flows in the market.

Higher interest in gold monetization scheme

The government is preparing to launch the gold monetization scheme. His announcement was made by Finance Minister Jaitley in the Budget 2015-16. In fact, the government is going to resume the failed Gold Savings Scheme in 1999. Because at that time the scheme could not run due to low interest rate. The special feature of the new scheme is that people will get more interest on this. While the cost of sleep maintenance will also be left. At the same time, there is a plan to provide interest up to 2-3% for 1.5% and above for less than one year in the scheme. Apart from this, the customer depositing the gold in this scheme will start receiving interest from the same day on which he has taken it. Also, those who take the scheme will not have to give information about where the money has been raised to buy gold. For this, the maximum limit of gold has been fixed at 500 grams.

This is the proposal of Gold Monetization Scheme

Under this scheme, customers will have to deposit at least 30 grams of gold. In this, the customer will be able to keep gold coins and jewelery with the banks. Instead, it will be given the equivalent certificate of gold. On the basis of that certificate, the customer will be able to obtain interest by opening his Gold Savings account in the bank. The customers who will be associated with this scheme, by melting gold and jewelery in the other way, the government will re-use it to the market for its use. Whereas under this scheme, the customer has to deposit his gold with the bank for a minimum of one year. This scheme will also benefit the jewelers, they can also take a loan on their metal account.

How to get interest under this scheme

According to the draft of Gold Monetization Scheme of the Government, if the customer deposited 100 grams of gold and got interest of one per cent on it. So he will get the same price as 101 grams of gold. At the same time, it will be exempt from income tax, wealth tax, capital gains tax etc. on the earnings it earns. If a customer wants to get out of this scheme before time, then the amount will be paid according to the market price. While customers will also have the right to get paid gold as a gold or cash deposit under the scheme.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Tuesday, 11 September 2018



BULLION:-

Gold prices inched up on Tuesday, as a lower U.S. dollar and trade tensions bolstered the precious metal. Trade war tensions continued to ease investor sentiment. Robert E. Lighthizer, the United States trade representative met with European Union officials in Brussels on Monday to discuss trade tariffs. While Lighthizer called the talks “constructive,” a deal is not likely to be reached as soon as the White House administration would like. Meanwhile U.S. President Donald Trump wants to impose tariffs on almost all imported Chinese goods .China’s foreign ministry said on Monday that it would respond to any new steps on trade. Trade fears offset expectations for a Federal Reserve rate hike in September, pushing the greenback lower and increasing the price of gold. The US INDEX, which measures the greenback’s strength against a basket of six major currencies, fell 0.18% to 94.95.


ENERGY:-

Oil prices rose on Tuesday as U.S. sanctions squeezed Iranian crude exports, tightening global supply despite efforts by Washington to get other producers to increase output. Washington has told its allies to reduce imports of Iranian oil and several Asian buyers, including South Korea, Japan and India appear to be falling in line. the U.S. government does not want to push up oil prices, which could depress economic activity or even trigger a slowdown in global growth. U.S. Energy Secretary Rick Perry met Saudi Energy Minister Khalid al-Falih on Monday in Washington, as the Trump administration encourages big oil-producing countries to keep output high. Perry will meet with Russian Energy Minister Alexander Novak on Thursday in Moscow. the United States and Saudi Arabia are the world's three biggest oil producers by far, meeting around a third of the world's almost 100 million barrels per day (bpd) of daily crude consumption.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Monday, 3 September 2018


Gold declines as rising global trade tensions buoy dollar. 

Gold inched lower on Friday, as the dollar stayed firm on expectations of rising interest rates amid lingering Sino-US trade tensions, and the yellow metal was headed for its fifth straight monthly decline. Spot gold was down 0.1 per cent at $1,198.66 an ounce at 0029 GMT. Prices were on track for fifth straight monthly decline, the metal's longest losing streak since early 2013. They are down about 2 per cent so far this month. US gold futures were mostly steady at $1,204 an ounce. US President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday. Policy and regulatory certainty in South Africa could potentially add 122 billion rand ($8 billion) in capital expenditure to the struggling mining sector.

 A looming trade war is likely to limit rebounds in copper prices in the short term.

As the US dollar climbed above 95, LME copper fell below support at $6,000/mt while the SHFE 1811 contract stood firm above 48,000 yuan/mt. However, it will remain difficult for the contract to rise above the 20-day moving average given pressure from shorts. A weak euro, expectations of further interest rate hikes by the US Federal Reserve, and a looming trade war are likely to limit rebounds in copper prices in the short term. Spot premiums are likely to be seen at 50 yuan/mt as lower prices prompt downstream purchases.

Large amount of Norilsk nickel entered the domestic market last Friday while downstream demand rose slightly.

Large amount of Norilsk nickel entered the domestic market last Friday while downstream demand rose slightly, and this lowered nickel prices. Surging shorts dragged the SHFE 1811 contract to a low around 105,000 yuan/mt. It closed at 105,090 yuan/mt with open interests up 63,000 lots to 370,000 lots. LME nickel fell sharply, after it rebounded, to the lowest in seven months below the $12,800/mt level. We expect LME nickel to hover weakly around $12,750/mt today, with the contract trading at 104,500-106,000 yuan/mt. Spot prices are likely to trade at 105,000-108,500 yuan/mt.

Oil falls on rising output from OPEC and United States.

 Oil prices fell on Monday amid rising supply from OPEC and the United States, outweighing concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November. Output from the producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) rose by 220,000 barrels per day (bpd) between July and August, to a 2018-high of 32.79 million bpd, a Reuters survey found. Output was boosted by a recovery in Libyan production and as Iraq's southern exports hit a record. U.S. drillers added oil rigs for the first time in three weeks, energy services firm Baker Hughes reported on Friday, increasing the rig count by 2 units to 862. high rig count has helped lift U.S. crude oil production C-OUT-T-EIA by more than 30 percent since mid-2016, to 11 million bpd. 


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Friday, 31 August 2018


 Gold headed for longest monthly losing streak since 2013. 

Gold inched lower on Friday, as the dollar stayed firm on expectations of rising interest rates amid lingering Sino-US trade tensions, and the yellow metal was headed for its fifth straight monthly decline. Spot gold was down 0.1 per cent at $1,198.66 an ounce at 0029 GMT. Prices were on track for fifth straight monthly decline, the metal's longest losing streak since early 2013. They are down about 2 per cent so far this month. US gold futures were mostly steady at $1,204 an ounce. US President Donald Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion more in Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday. Policy and regulatory certainty in South Africa could potentially add 122 billion rand ($8 billion) in capital expenditure to the struggling mining sector over the next four years, the Minerals Council's chief executive said on Thursday. 

 Investor risk aversion intensifies as US President Donald Trump plans to move forward with tariffs.

 Investor risk aversion intensifies as US President Donald Trump plans to move forward with tariffs on another $200 billion worth of Chinese imports, according to a new report. This is set to weigh on copper prices in the short run. We expect LME copper to test support at the 10-day moving average, with the SHFE 1810 contract hovering around 48,500 yuan/mt today. Spot premiums are seen at 60-120 yuan/mt.

LME nickel extended its losses during the European trading period. 

LME nickel tumbled to the $13,200/mt level before it pared some losses and closed at $13,310/mt on Thursday. The SHFE 1811 contract plummeted to a low of 108,180 yuan/mt before it regained some losses and closed overnight at 108,620 yuan/mt. Growing inventories in China eroded upward momentum in SHFE nickel prices and fuelled bearish market sentiment. We expect LME nickel to hover around $13,300/mt today and the SHFE 1811 contract to trade at 108,500-110,000 yuan/mt. Spot prices are seen at 108,000-112,000 yuan/mt. 

Oil dips on Sino-U.S. trade conflict, but looming Iran sanctions support. 

Oil prices dipped on Friday amid concerns the trade war between the United States and China could intensify, although looming U.S. sanctions against Iran's oil exports prevented markets from falling further. Still, with Venezuelan supply falling sharply and concerns around U.S. sanctions against Iran that will target its oil exports from November, crude markets in August are on track to post a more than 4 percent rise for Brent and a 2 percent increase for WTI. In a sign of a tightening market, the amount of unsold crude stored in the Atlantic basin has dwindled from around 30 cargoes to just a handful in recent weeks, trade data showed. this, analysts cautioned that the trade disputes between the United States and other major economies, especially China and the European Union, could start to drag on economic growth and, by extension, fuel demand.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Wednesday, 29 August 2018



BULLION:-

Gold prices inched lower in the morning session amid expectations of higher U.S. interest rates, but managed to hold above a key psychological level of $1,200 which acted as a strong support. Spot gold was down 0.2 percent at $1,203.86 an ounce at the time of writing, after rising nearly 0.5 percent in the previous session. U.S. gold futures were down 0.1 percent at $1,209.90 an ounce. Spot gold has been trading in an $8 range for the past two sessions, with investors keenly watching the $1,200 level after the metal broke below that and hit a 1-1/2-year low of $1,159.96 early this month. Data showing a higher-than-expected annualized growth in second-quarter U.S. gross domestic product cemented expectations for a rate hike next month, with a 96 percent probability, according to Fed funds futures. Higher rates dent the appeal of noninterest-yielding gold, boosting the dollar in which the yellow metal is priced. The dollar index against a basket of six major currencies stayed above a four-week low of 94.434 hit on Tuesday. The greenback has been on the defensive this week with safe-haven demand for the currency diminishing in the wake of improving risk sentiment in broader markets following promising NAFTA negotiations. Gold prices are heading for a fifth straight monthly fall, which would make it the precious metal’s longest losing streak since early 2013. The metal has declined about 7.4 percent so far this year amid international trade disputes and the Turkish currency crisis, with investors preferring the dollar as a safe haven.

METALS:-

London aluminium prices fell for the first time in six sessions in early Asian trade on Thursday, after U.S. President Donald Trump allowed relief on aluminium import quotas from Argentina. Trump, who put in place tariffs on steel and aluminium imports in March, signed proclamations allowing relief from the quotas on steel from South Korea, Brazil and Argentina and on aluminium from Argentina, the U.S. Commerce Department said in a statement on Wednesday. Three-month aluminium on the London Metal Exchange fell 0.7 percent to $2,157 a tonne, after jumping 1.8 percent in the previous session. It hit a two-month high of $2,178 and has climbed for five straight days on rising input costs for smelters. Copper prices have recovered from a recent rout, but the possibility of the trade dispute between Washington and Beijing escalating and its potential to crimp demand in China, the world's top consumer, is expected to cap gains. Striking workers at state-owned Codelco's Andina copper mine have rejected their employers' latest contract offer, the company and union said on Wednesday.

ENERGY:-

Oil prices inched up on Thursday, extending solid gains from the previous session on a fall in U.S. crude inventories and expected disruptions to supply from Iran and Venezuela. U.S. West Texas Intermediate (WTI) crude futures were up 14 cents at $69.65 a barrel. The rises came after crude hit multi-week highs during the previous session. U.S. commercial crude inventories fell by 2.6 million barrels in the week to Aug. 24, to 405.79 million barrels. U.S. production was flat from the previous week’s record 11 million barrels per day (bpd). The Organization of the Petroleum Exporting Countries (OPEC), of which Iran is the third biggest producer, will discuss in December whether it can compensate for a sudden drop in Iranian oil supply after U.S sanctions against Tehran start in November, the head of Iraq’s state-oil marketer SOMO, Alaa al-Yasiri, said on Wednesday. Iran’s August crude oil exports will likely drop to just over 2 million bpd, versus a peak of 3.1 million bpd in April, as importers bow to American pressure to cut orders. The International Energy Agency (IEA) warned of a tightening market toward the end of the year, due to a combination of supply concerns, such as Iran and also Venezuela, and strong demand especially in Asia.



Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Tuesday, 21 August 2018


BULLION:-
Gold prices rose on the back of a weaker U.S. dollar on Tuesday, extending gains into a third session after U.S. president Donald Trump said he was “not thrilled” with the U.S. Federal Reserve for raising interest rates. Trump said on Monday he was “not thrilled” with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the U.S. central bank should do more to help him to boost the economy. Asian stocks were capped in the wake of those comments from Trump and after he accused China and Europe of manipulating their currencies. Atlanta Fed President Raphael Bostic said on Monday he was maintaining his expectation for one more interest rate hike this year, as trade tensions and international events add some downside risk to an otherwise strong U.S. outlook. U.S. businesses have a message for the Trump administration: New tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to first bicycles and wedding dresses to coffins. Turkish authorities detained two men suspected of shooting at the U.S. Embassy in the capital Ankara on Monday, in an attack that coincides with increased tensions between the two NATO allies over the trial of a U.S. pastor in Turkey. Meanwhile, Trump also said he did not expect much progress from trade talks with China this week in Washington. China, seeking to skirt U.S. sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total are walking away due to fear of reprisals from Washington.

METALS:-
Base metals prices rose on Tuesday, with London copper climbing back above the $6,000-a-tonne mark, as the dollar slipped, making metals cheaper for holders of other currencies, while the market awaited U.S.-China trade talks in Washington. Copper prices on the London Metal Exchange have fallen by 18 percent from a four-year high touched on June 7 amid concerns a trade row between the United States and China, which have slapped billions of dollars in tariffs on each other's goods, will hit demand for industrial metals. Industrial metals got a lift from improving sentiment on China’s economy and a rise in the yuan. The Asian nation plans to send a delegation to the U.S. later this month, stoking hopes of a revival of trade talks. Meanwhile, orders to withdraw copper from warehouses tracked by the London Metal Exchange climbed the most since 2015 on Monday. Metal prices plunged last week, sending the LMEX Index to a one-year low, as turmoil fueled by Turkey’s financial woes spread across emerging markets. Currency moves have also set the direction for the market in recent weeks, with the stronger dollar and weaker Chinese yuan leading metal prices lower.

ENERGY:-
Crude oil futures were mixed during morning trade in Asia on Tuesday, with the NYMEX WTI contract ticking up on expected US crude stock draws. Analysts surveyed Monday by S&P Global Platts were expecting latest US crude stocks data to show a 3.37 million-barrel draw for the week ended August 17 -- they had also expected a decline in last week's survey, but stocks instead posted a 6.81 million-barrel build. The American Petroleum Institute is due to release its preliminary stocks report later Tuesday and the more definitive US Energy Information Administration report is due on Wednesday. Meanwhile, Brent prices reacted to supply news elsewhere, including reports that Saudi Arabia ramped up its crude exports, refinery runs and direct burn for power generation in June, which pressured prices lower. Saudi exports rose 260,000 b/d month on month to 7.244 million b/d in June, after falling to a seven-month low in May, according to latest data from the Riyadh-based Joint Organizations Data Initiative. Its refinery runs increased 190,000 b/d on month to 2.792 million b/d in June, the highest since December 2017. Iran on Sunday told OPEC that no member country should be allowed to take over any other member country's share of oil exports as OPEC prepares to pump more oil from the second half of 2018 to offset the loss of Iranian oil as a result of US sanctions.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.



Wednesday, 8 August 2018


Gold steady as dollar softens versus stabilizing yuan.

 Gold prices were steady early on Wednesday, after rising in the previous session, as the U.S. dollar softened against China's yuan and the euro. Asian shares rose on Wednesday on the back of firmer Wall Street earnings while expectations for increased Chinese stimulus helped take the edge off wider concerns about the worsening Sino-U.S. trade dispute The United States will begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23, the U.S. Trade Representative's office said on Tuesday as it published a final tariff list targeting 279 imported product lines. The European Parliament has agreed to ease tough new liquidity rules for banks trading gold, marking a success for the London Bullion Market Association's (LBMA) campaign to revise the plans.

Copper prices are likely to rebound against the backdrop of resilient infrastructure construction in China.

Copper lost some early gains and closed at $6,150/mt in LME on Tuesday. The SHFE October contract turned to the most liquid overnight. Copper prices are likely to rebound against the backdrop of resilient infrastructure construction in China. We expect LME copper to trade at $6,160-6,210/mt today with the SHFE 1810 contract at 49,300-49,800 yuan/mt. Spot premiums are seen at 60-100 yuan/mt.
Nickel rebound as a weakened US dollar and low stocks at SHFE warehouses accounted for the increase.

Given low-level inventory of nickel across LME warehouses, LME nickel rebounded to around the daily moving average to a high of $13,890/mt. Pressure was at the $13,900/mt level. LME inventory continued to shrink 372 mt to 251,466 mt. The SHFE 1811 contract received support at the 40-day moving average and gained over 1% from Monday to close at 113,240 yuan/mt. A weakened US dollar and low stocks at SHFE warehouses accounted for the increase. We expect the contract to trade at 112,500-114,000 yuan/mt with LME nickel hovering at $13,900/mt today. Spot prices are set at 112,000-114,500 yuan/mt.

Oil prices steady on falling U.S. crude stocks, Iran sanctions.

 Oil prices held steady on Wednesday, supported by a report of rising U.S. crude inventories as well as the introduction of sanctions against Iran. The U.S. government introduced a raft of new sanctions against Iran on Tuesday, targeting Iran's purchases of U.S. dollars - in which oil is traded - metals trading, coal, industrial software and its auto sector. November, Washington will also target Iran's petroleum sector. Beyond the sanctions, the oil market was focusing on the U.S. market, where the American Petroleum Institute said on Tuesday that crude inventories fell by 6 million barrels in the week to Aug. 3 to 407.2 million. U.S. fuel storage data is due to be released later on Wednesday by the Energy Information Administration (EIA). Shipments into the world's biggest importer of crude came in at 36.02 million tonnes last month, or 8.48 million bpd, up from 8.18 million bpd a year ago, and just up on June's 8.36 million bpd, data from the General Administration of Customs showed.

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