• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Dollar Index slides for the third day, STI advances ahead of earnings season

by onlinecitizen
20/04/2016
in Finance
Reading Time: 4 mins read
0

Image from shutterstock

By Margaret Yang, CMC Markets
Equities – Asian equity markets rebounded sharply yesterday, led by the Nikkei 225 which rallied 3.6%. Nikkei futures continued to go higher after the cash market closed. Market sentiment shifted to the positive side as crude oil recovered its losses and stands above $40 again.  The US market finished higher as IBM delivered better-than-expected 1Q earnings.
Singapore’s earnings season will kick off this week. Local investors and traders will be watching 1Q earnings results of the biggest local companies in the coming weeks to find a clue on how economic headwinds have affected corporate earnings. The sentiment is optimistic, as the Straits Times Index advanced 34 points or 1.1% to its highest level this year ahead of earnings season. It has broken out through the key resistance level of 2,917 and this has opened the door for potential upside momentum with the next resistance level at 3,038.
Chinese companies accelerated the pace in the overseas M&A race. According to an unidentified source, the country’s sovereign fund – China Investment Corp – has expressed interest in buying Yum! Brands Inc.’s Chinese business, which includes over 7000 KFC and Pizza Hut restaurants on the mainland. This deal is potentially valued at $7-8 billion.
Commodities – Crude oil futures rebounded as the strike in Kuwait continued to dampen crude output in the short term. US crude futures settled 3.3% higher at $41.08 per barrel. The panic associated with the failure of the Doha meeting will gradually fade away and the market will start to look forward. Gold continued to trade in a range bound between $1,220 – $1,260. However, a potential “head and shoulder” pattern has formed, which warns of potential downside if earnings season brings positive surprises that quench the demand for safe-haven assets.
Foreign Exchange (FX) – The US Dollar Index has fallen for the third day, approaching a key support level at 94.00. A weaker USD sent other currencies higher, with AUD/USD trading at 10-months highs. USD/JPY has rebounded to 109.10 this morning. The immediate support level is 107.65 and the resistance is 110.00. USD/CAD retraced back to 1.2770 as the oil price rebound lifted commodity currencies. AUD/USD extended its rally and hit 0.7800 this morning, a fresh high this year. USD/SGD also pulled back to the 1.3400 area.
US Dollar Index June 2016
market_usdollar
Earnings Calendar for Singapore blue chips

Company Name Date Period EPS Estimate
CapitaLand Ltd 20/4/2016 Q1 2016 0.05
Singapore Exchange Ltd 20/4/2016 Q3 2016 0.085
Sembcorp Marine Ltd 27/4/2016 Q1 2016 0.021
United Overseas Bank Ltd 28/4/2016 Q1 2016 0.435
Oversea-Chinese Banking Corp Ltd 29/4/2016 Q1 2016 0.215
Jardine Cycle & Carriage Ltd 29/4/2016 Q1 2016 0.54
Yangzijiang Shipbuilding Holdings Ltd 29/4/2016 Q1 2016 0.15
DBS Group Holdings Ltd 3/5/2016 Q1 2016 0.42
Sembcorp Industries Ltd 4/5/2016 Q1 2016 0.058
StarHub Ltd 5/5/2016 Q1 2016 0.045
Ascendas Real Estate Investment Trust 5/5/2016 Y  2016 0.152
SIA Engineering Co Ltd 10/5/2016 Y  2016 0.162
Wilmar International Ltd 10/5/2016 Q1 2016 0.04
City Developments Ltd 11/5/2016 Q1 2016 0.14
Singapore Airlines Ltd 12/5/2016 Y  2016 0.669
UOL Group Ltd 12/5/2016 Q1 2016 0.115
Golden Agri-Resources Ltd 12/5/2016 Q1 2016  N.A.
Genting Singapore PLC 13/5/2016 Q1 2016 0.008
Singapore Telecommunications Ltd 13/5/2016 Y  2016 0.243
Singapore Technologies Engineering Ltd 13/5/2016 Q1 2016 0.04
SATS Ltd 13/5/2016 Y  2016 0.202
ComfortDelGro Corp Ltd 13/5/2016 Q1 2016 0.031
Thai Beverage PCL 13/5/2016 Q1 2016 0.29
Global Logistic Properties Ltd 19/5/2016 Y  2016 0.048

 
About the author
Margaret Yang Yan, CFA, is a market analyst for CMC Markets Singapore.

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

AFP

Myanmar junta imposes tough new measures on resistance strongholds

03/02/2023
Malaysia High Court dismissed DPM Zahid’s application to get passport returned permanently
Malaysia

Malaysia High Court dismissed DPM Zahid’s application to get passport returned permanently

03/02/2023
Why is Gautam Adani’s Indian empire in turmoil?
AFP

Adani turmoil a key test for Modi’s India Inc

03/02/2023
Kajang cops chided for denying woman access to police HQ because she was wearing shorts
Community

Kajang cops chided for denying woman access to police HQ because she was wearing shorts

03/02/2023
Adani’s brother runs SG company and registers as director with local ID
Current Affairs

Adani’s brother runs SG company and registers as director with local ID

03/02/2023
Minister Tan See Leng only reveals 500 intra-corporate transferees from India for last year – a Covid year
Opinion

Increasing number of working Permanent Residents in Singapore but with a stable PR population

03/02/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Myanmar junta imposes tough new measures on resistance strongholds

03/02/2023
Malaysia High Court dismissed DPM Zahid’s application to get passport returned permanently

Malaysia High Court dismissed DPM Zahid’s application to get passport returned permanently

03/02/2023
Why is Gautam Adani’s Indian empire in turmoil?

Adani turmoil a key test for Modi’s India Inc

03/02/2023
Kajang cops chided for denying woman access to police HQ because she was wearing shorts

Kajang cops chided for denying woman access to police HQ because she was wearing shorts

03/02/2023
Adani’s brother runs SG company and registers as director with local ID

Adani’s brother runs SG company and registers as director with local ID

03/02/2023
Minister Tan See Leng only reveals 500 intra-corporate transferees from India for last year – a Covid year

Increasing number of working Permanent Residents in Singapore but with a stable PR population

03/02/2023

A multi-party parliament is the only way to make sure that Singapore continues to not condone or tolerate corruption

03/02/2023
Anwar criticised over appointing own daughter as his senior advisor

Anwar criticised over appointing own daughter as his senior advisor

03/02/2023

Trending posts

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
25

...

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

by Yee Loon
26/01/2023
24

...

They have done a fine job of confusing us about the jobs situation

They have done a fine job of confusing us about the jobs situation

by Augustine Low
01/02/2023
36

...

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
41

...

Singapore warns slower economic growth in 2023

Less than 1 in 10 jobs created in first three quarters of 2022 went to Singaporeans?

by Leong Szehian
28/01/2023
69

...

Excessively charging for an essential need, and calling it affordable because people still can pay for it?

by Terry Xu
31/01/2023
39

...

April 2016
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Mar   May »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz