21Nov

Tuesday Market Update

US Market :

U.S. stocks fell on Friday as worries about tax reform lingered on Wall Street. Treasury Secretary Steven Mnuchin told CNBC’s “Squawk Box” that he expects a Republican tax reform bill to be sent to President Trump by Christmas. Expectations of tax reform have helped lift U.S. stocks to record levels this year. But the market has seen some turbulence recently, slipping from record highs, as concern remained about whether tax reform could be achieved by year-end.

Europe Market :
European shares failed to end Friday’s trading day on a positive note, closing slightly lower, as investors digested new trading updates and followed the moves seen in markets Stateside.

Precious Metal Gold :
Gold rose on Friday as the dollar softened on uncertainty about the progress of what would be the biggest overhaul of U.S. taxes since the 1980s.

Crude Oil :
Oil prices rose on Friday, retracing much of the week’s losses, which were stoked by concerns about oversupply.

Indices & Commodities :
DJIA: 23,358.24 (-100.12)
S&P500: 2,578.85 (-6.79)
NASDAQ: 6,782.79 (-10.50)
DAX: 12,993.73 (-53.49)
FTSE: 7,380.68 (-6.26)
EuroStoxx50: 3,547.98 (-16.82)
Comex Gold: 1,296.5 (+18.3)
Comex Copper: 3.0670 (+.0190)
WTI Crude Oil: 56.71 (+1.36)
Brent Crude Oil: 62.72 (+1.36)
BMD FKLI: 1715.0 (+1.5)
BMD FCPO: 2712 (-26)

Economic Events :
Holiday –

30Oct
EUR/USD up smalls above 1.16

EUR/USD up smalls over 1.16

* Spot discovered help close to 1.1570, Friday’s low.

* Circumstance in Catalonia having little effect up until this point.

* German blaze CPI, US PCE without hesitation later today

The single cash is exchanging inside limited range toward the start of the week, with EUR/USD figuring out how to recover the 1.1600 handle or more in front of the opening chime in Euroland.

EUR/USD concentrate on information

After two back to back pullbacks, the combine appears to recuperate the grin on Monday around 1.1600 the figure in the midst of some offering predisposition encompassing the greenback.

Plunge purchasers seem to have developed around the 1.1575/70 band, stopping the post-ECB seeping in spot and permitting the continuous bounce back.

On the USD-side, the expanding positive thinking around the Trump’s duty change blurred to some degree against the setting of inner debate among Republicans.

On the situating front, theoretical EUR yearns withdrew to 5-week lows in the week to October 24, as per the most recent CFTC report.

Later in the information space, Spanish and German propelled CPI figures are expected for the present month alongside assessment/certainty gages in the euro range. Over the lake, PCE and individual pay/spending will get all the consideration.

EUR/USD levels to observe

Right now, the combine is up 0.06% at 1.1615 confronting the following up hindrance at 1.1683 (100-day sma) favored by 1.1739 (10-day sma) and afterward 1.1837 (high Oct.26). ON the other side, a breakdown of 1.1575 (low Oct.27) would open the way to 1.1448 (high Jun.30) lastly 1.1249 (200-day sma).

 

EUR/USD up smalls above 1.16EUR/USD up smalls above 1.16

25Oct

Today’s Market Update

US Market :

The Dow Jones industrial average rose sharply on Tuesday on the back of strong quarterly results from 3M and Caterpillar. Wall Street was also hopeful that tax reform could pick up steam in Washington.

Europe Market :
European markets closed mixed Tuesday, as investors monitored the latest corporate earnings and kept a close eye on Spain’s constitutional crisis.

Precious Metal Gold :
Gold prices dipped on Tuesday as investors anxiously awaited news on the next head of the U.S. Federal Reserve, while strong share markets and a calmer geopolitical environment sapped safe-haven demand.

Crude Oil :
Oil prices rose in volatile trade on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in U.S. crude inventories.

Indices & Commodities :
DJIA: 23,441.76 (+167.80)
S&P500: 2,569.13 (+4.15)
NASDAQ: 6,498.43 (+11.60)
DAX: 13,013.19 (+10.05)
FTSE: 7526.54 (+2.09)
EuroStoxx50: 3,613.71 (+4.84)
Comex Gold: 1,278.3 (-2.6)
Comex Copper: 3.1980 (+.0100)
WTI Crude Oil: 52.47 (+.57)
Brent Crude Oil: 58.33 (+.96)
BMD FKLI: 1736.5 (-5.0)
BMD FCPO: 2777 (-10)

Economic Events :
8.30AM – AUD CPI
4.00PM – EUR German Ifo Business Climate Index
4.30PM – GBP GDP
8.30PM – USD Core Durable Goods Orders
10.00PM – USD New Home Sales
10.00PM – CAD BoC Monetary Policy Report, BoC Interest Rate Decision
10.30PM – USD Crude Oil Inventories
11.15PM – CAD BoC Gov Poloz Speaks

FX & Bonds :
USD/MYR – 4.233
EUR/USD – 1.176
GBP/MYR – 5.559
AUD/MYR – 3.292
SGD/MYR – 3.107
Msia 10 yr Bond Yield – 3.96%

24/10/2017 Bursa Trade Stat :
Retail (24.79%) – net BUY 26.5mil
Institution (53.01%) – net BUY 94.25mil
Foreign (22.2%) – net SELL 120.75mil
Total traded value 2128.51mil

10Oct
Japanese Yen Slips

Japanese Yen Slips – Epic Research Updates

Arguments

* USD/JPY increased after a discourse from the BoJ Governor
* He recommitted the national bank to simple approach by and by
* There was just the same old thing new here, yet he sounded in any event as blunt as ever

The Japanese Yen debilitated against the US Dollar Tuesday on yet another recommitment to ultra-free financial approach from Bank of Japan Governor Haruhiko Kuroda.

Talking at a meeting of BoJ branch supervisors, Kuroda said that the BoJ would extend the officially colossal household financial base until annualized buyer value expansion “overshoots” 2%. This objective has not been hit since 2015 and, with swelling running at 0.7% as of now, Kuroda’s words suggest maybe years of extraordinary financial convenience ahead. Bear in mind Japan presently has negative base rates, coordinate administration of its own administration security yield bend and an immense security purchasing program set up.

Kuroda said that the economy was extending decently and that the BoJ expects the Consumer Price Index to get pace toward that 2% objective.

There was just the same old thing new here for the Japanese Yen. Kuroda has been a staunch safeguard of financial facilitating throughout recent years. He’s been similarly staunch in his open conviction that the expansion target is achievable, regardless of the possibility that some business reviews recommend that officials can’t help contradicting him. In any case, say of a CPI overshoot was a strangely direct guard of current approach so it’s maybe obvious that the Yen ought to have slipped as it did.

Japanese Yen Slips

Having had things their own particular manner for a significant part of the year, Yen bulls are presently on edge as loan cost differentials bolster the US Dollar against the Japanese unit. Be that as it may, USD/JPY has broken beneath an outstanding uptrend divert set up since September 8′s lows. For the minute that break looks naturally consolidative-a delay for breath was most likely all together and close term bolster bunches look firm.

Japanese Yen Slips

That said USD/JPY presently can’t seem to top the past critical pinnacle (July 11′s 114.48) and, until the point when it does, the year’s unavoidable downtrend stays set up.

9Oct

Morning News Update

US Market :

U.S. stocks closed mostly lower on Friday after data showed the labor market experienced its first contraction in seven years. The U.S. lost 33,000 jobs September due large part to two major hurricanes hitting the country. The S&P 500 snapped its longest winning streak since 2013.

Europe Market :
European stocks closed in the red Friday as investors digested the latest set of payrolls data from the U.S. and monitored political events in Spain.

Precious Metal Gold :
Gold bounced up from a two-month low on Friday, on concerns stoked by a Russian report that North Korea is preparing to test a long-range missile and on support from the U.S. dollar’s shift into negative territory.

Crude Oil :
Oil prices fell about 3 percent on Friday, as a week of profit-taking and the return of oversupply concerns led the market lower, snapping a multi-week bull run.

Indices & Commodities :
DJIA: 22,773.67 (-1.72)
S&P500: 2,549.33 (-2.74)
NASDAQ: 6,590.18 (+4.82)
DAX: 12,955.94 (-12.11)
FTSE: 7,522.87 (+14.88)
EuroStoxx50: 3,601.40 (-12.14)
Comex Gold: 1,274.9 (+1.7)
Comex Copper: 3.0290 (-.0175)
WTI Crude Oil: 49.29 (-1.50)
Brent Crude Oil: 55.62 (-1.38)
BMD FKLI: 1762.0 (+3.0)
BMD FCPO: 2732 (+12)

Economic Events :
Holiday South Korea – Hangul Day
Holiday Canada – Thanksgiving Day
Holiday Japan – Health-Sports Day
Tentative – EUR Eurogroup Meetings
9.45AM – CNY Caixin Services PMI (Sep)
2.00PM – EUR German Industrial Production (MoM) (Aug)
12.00AM – EUR ECB’s Lautenschlaeger Speaks
5.45AM – NZD Electronic Card Retail Sales (MoM) (Sep)
7.01AM – GBP BRC Retail Sales Monitor (YoY) (Sep)
7.50AM – JPY Adjusted Current Account, Current Account n.s.a. (Aug)

FX & Bonds :
USD/MYR – 4.240
EUR/USD – 1.173
GBP/MYR – 5.541
AUD/MYR – 3.297
SGD/MYR – 3.096
Msia 10 yr Bond Yield ? 3.90%

6/10/2017 Bursa Trade Stat :
Retail (23.6%) – net SELL 23.7mil
Institution (56.4%) – net BUY 77.3mil
Foreign (20.0%) – net SELL 53.6mil
Total traded value 1951.8mil

7Oct

Delegation to strengthen ties with Vietnam

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With the market for products in Vietnam anticipated that would see huge development in the following couple of years, a Malaysian appointment drove by Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong went to the nation to fortify reciprocal participation in the division.

Mah said the official visit was additionally to investigate chances to increment vital cooperation in innovation advancement, especially in the palm oil, elastic and pepper segments. Amongst January and July 2017, exchange amongst Malaysia and Vietnam in the wares and ware based items area saw a 27% expansion to RM2.8bil, contrasted with a similar period in 2016. Fares in the palm oil division likewise observed a 27% development to RM1.3bil, while the elastic segment recorded a 29% ascent to RM254mil from a similar period a year prior.

The minister’s assignment was joined by delegates from organizations under the service including the Malaysian Palm Oil Board, Malaysian Palm Oil Council, Malaysian Rubber Board, Malaysian Rubber Export Promotion Council and Malaysian Pepper Board. Amid the visit, Mah, together with the Malaysian designation, paid a politeness approach the nation’s Minister of Agriculture and Rural Development, Nguyen Xuan Cuong. Amid the civility call, the two clergymen expressed their responsibility regarding increment reciprocal collaboration in the advancement of estate area.

“Malaysia, as seat of the International Tripartite Rubber Council (ITRC) for 2017, likewise stretched out a solicitation to Vietnam to join the chamber as a full part to fortify the ITRC’s part and capacity in driving the worldwide elastic industry,” said Mah in an announcement. To this, Nguyen Xuan Cuong submitted that the nation would send an appointment to Malaysia to go to the ITRC meeting in Kuala Lumpur one year from now.

The ITRC right now comprises of three nations – Malaysia, Thailand dan Indonesia.

6Oct

FBM KLCI gained 4.91 points to 1,764 points on Friday

The FBM KLCI increased 4.91 focuses to 1,764 focuses on Friday, following playful Asian markets that took their lead from record-breaking Wall Street closes the previous evening. At 5pm, turnover was 2,49 billion offers esteemed at RM1.95bil. Advancers beat decliners 468 to 315 while 478 counters were unaltered. Lotte Chemicals Titan was back in the focus on Friday as it declared that the stop-work arrange on its synergist breaking reactor had been lifted. Financial specialists took to the positive news, lifting the counter 13 sen to RM5.23.

WEEKLY-FBM-KLCI-150917

In the managing an account segment, CIMB increased one sen to RM6.41, Ambank increased one sen to RM4.48 and Hong Leong Bank rose two sen to RM15.88. Hong Leong Financial added eight sen to RM16.98. Heavyweight counters Sime Darby went up against eight sen to RM9.12 while Genting rose seven sen to RM9.68. English American Tobacco added 82 sen to RM43.52. Telco players Maxis rose four sen to RM5.89, DIgi increased three sen to RM4.94 and Axiata increased two sen to RM5.32. Telekom Malaysia fell one sen to RM6.29. Oil costs were on the decay as Tropical Storm Nate heads towards the US Gulf, making organizations from BP Chevron to shade stages. In the mean time, information demonstrating huge increments in US oil creation a week ago additionally hosed costs.

WTI Crude fell seven pennies to US$50.62 a barrel while Brent Crude increased five pennies to US$57.05 a barrel. Spot gold rose 38 pennies to US$1,268.60 per troy ounce. In the interim, the ringgit debilitated 0.2% against a rising dollar to 4.2370. The neighborhood money was 0.69% more grounded against the pound sterling at 5.5400 and 0.12% more grounded against the Singapore dollar at 3.1008.


 

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6Oct
Yen Hit By Mixed Earning Data

Yen Hit By Mixed Earning Data

Arguments:

  • Japanese work money profit ascended at their speediest pace for over a year
  • However general profit stay exceptionally lethargic
  • The Yen properly endured a shot

The Japanese Yen was bring down against the US Dollar Friday following the arrival of some broadly shifting profit information.

Work money profit climbed a thick 0.9% on the year in August, as per official figures. That was the most grounded ascend since July 2016 and well above both the 0.9% expected and July’s 0.6% slide. Be that as it may, the more extensive measure of genuine money income climbed only 0.1% on the year. That was somewhat superior to anything expected yet the earlier month’s information were overhauled forcefully, down show to a 1.1% fall.

Additional time pay and base wages rose, however not by much. All things considered, the numbers show up extensively to travel toward a path which the Bank of Japan might want and USD/JPY’s little shoot up to the 112.80 territory in the outcome isn’t clearly clarified by them. It might be that business sectors are somewhat more daintily exchanged than they may somehow or another be following seven days of across the board territorial occasions and before Friday’s US nonfarm finance discharge.

Income are a vital general swelling segment and, with Japanese expansion desires low and moored, they are one a player in the valuing mosaic which the Bank of Japan has attempted to change. The nation’s Consumer Price Index has hinted at long-missing life this year. Following eight straight long stretches of additions it ascended at a 0.7% annualized rate in August. That was a two-year high yet in addition and inevitably well beneath the BoJ’s 2% focus after numerous years and numerous trillion Yen in boost measures.

 

Yen Hit By Mixed Earning Data

The Japanese Yen has been under wide weight against the US Dollar since early September as business sectors have moved to cost in further, continuous financial fixing from the US Federal Reserve. The difference between this guess and that for the Bank of Japan, which still has the jolt taps totally open, has favored the greenback and will likely keep on doing so even as the current USD/JPY rally has all the earmarks of being losing some steam.

 

 Yen Hit By Mixed Earning Data

5Oct

Malaysian palm oil price hits 1-week high

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Malaysian palm oil futures hit one-week highs on Wednesday, upheld by technical buying and desires of a slight rise in end-September stock levels.

The benchmark palm oil contract for December conveyance on the Bursa Malaysia Derivatives Exchange was up 1.2 percent at 2,715 ringgit ($642.45) a ton at the end of exchange, graphing a moment straight increase after four continuous losing sessions.

Prior in the session, it rose to its most grounded since Sept. 27 at 2,724 ringgit.

Palm, which shed 1.5 percent a week ago, its second in a row week after week decrease, has increased 0.7 percent so far this week.”Stocks are additionally not anticipated that would increment by much, and there is some purchasing that we see from India and Africa. Individuals did not purchase excessively a month ago when costs were high, so now they are purchasing to keep up stock levels,” he said.

Palm oil shipments from Malaysia, the world’s second biggest maker of the tropical oil, ascended around 10 percent for the entire month of September, contrasted and the earlier month, information from payload surveyors appeared. In other related palatable oils, the December soybean oil contract on the Chicago Board of Trade was up 1 percent.

China’s Dalian Commodity Exchange is closed for an open occasion. Palm oil costs are influenced by the execution of related palatable oils including soy, as they seek an offer of the worldwide vegetable oils advertise.

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