Crude Oil:
After OPEC and Russia confirmed a meeting on mid April, market sentiment is getting more bullish on crude oil. It has broken resistance at USD40 last week. Next strong resistance could be USD43.
US:
Market welcomed news from Federal Reserve that rate hike could be scaled back in 2016. Also led by bullish oil, DOW JONES recovered lost ground since early 2016. It swung into black first time this year.
Singapore:
Without rate hike on last FOMC, USD has been weakening. Generally Asia bourses were beneficiaries. STI moved back to 2920 which was the peak seen on Dec 2015. Current price translates to PE ~ 12. The mean value of PE range for STI is 15.4.
Market Calendar on coming week:
(SG: Singapore; CH: China; US: USA)
No comments:
Post a Comment