Monthly Archives: January 2018

24Jan

FGV made a High of 2.09

KLCI: 1,838.04 (+4.89 pts)

DOW: 26,210.81 (-3.79 pts)
MSCI ASIA Pac (MXAP): 186.32 (+2.41 pts)
FCPO: RM2,494 / MT (+19)
BRENT: US$69.96 / bbl (+0.93)
USD: 3.927 (-0.007 pts)
SGD: 2.977 (-0.002 pts)
EUR: 4.809 (-0.006 pts)
GBP: 5.483 (+0.016 pts)
US: 10-yr yield (-0.04 to 2.61%)
BNM: 10-yr yield (-0.01 to 3.92%)

Cut off time: 7.45 am (24 Jan 2018)

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Epic Research Pte. Ltd. is conducting a free seminar in KL
on 27 January
Book here – https://goo.gl/yvvWDp
Stocks Seminar on 27 January “Trading 2018 – *Know this year’s Stocks & Sectors Outlook*” to find out how you can boost your income.
Seminar Time – 2 – 4pm
Address – Ispace, Plaza VADS, Level 9 1, Jalan Tun Mohd Fuad Taman Tun Dr Ismail, Kuala Lumpur 60000 Malaysia
Bring your Friend to the Seminar and Get a chance to win Free Services up to 1 Year.
!!!! Entries are Free !!!!
Register here – https://goo.gl/yvvWDp and get more details

 

 

18Jan

Trading 2018 – Know this year’s Stocks & Sectors Outlook

Epic Research is conducting a free seminar in KL on 27 January.
Stocks Seminar on ‘Trading 2018 – Know this year’s Stocks & Sectors Outlook’ and find out how you can boost your income.

Register here – https://goo.gl/Fpt6A2 and get more details

Seminar Time – 2 – 4pm

Address – Ispace, Plaza VADS, Level 9 1, Jalan Tun Mohd Fuad Taman Tun Dr Ismail, Kuala Lumpur 60000 Malaysia

03 (2)
Bring your Friend to the Seminar and Get a chance to win Free Services up to 1 Year. After the Seminar we will send you a code on your mobile and that code will reveal free services in days.
Entries are Free

12Jan

TODAY’S COMEX SIGNAL AND DAILY REPORT

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 Daily Comex Signal and Financial News

 

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INTERNATIONAL COMEX NEWS

  • Gold prices bounced back on Thursday, erasing earlier losses as the greenback broadly weakened after the release of downbeat U.S. data dampened optimism over the strength of the economy. Comex gold futures were up 0.20% at $1,322.10 a troy ounce by 08:35 a.m. ET (12:35 GMT), off session lows of $1,316.10. The U.S. Department of Labor reported on Thursday that initial jobless claims increased to 261,000 last week, compared to expectations for a drop to 246,000.
  • Crude oil prices remained at three-year highs on Thursday, as optimism dominated following news this week of another decline in U.S. crude stockpiles. The U.S. West Texas Intermediate crude February contract was up 85 cents or about 1.34% at $64.42 a barrel by 10:00 a.m. ET (14:00 GMT), the highest since December 2014. Elsewhere, Brent oil for March delivery on the ICE Futures Exchange in London gained 27 cents or about 0.39% to $69.48 a barrel, just off a fresh three-year peak of $69.59 hit earlier in the day.
  • Natural gas futures surged on Thursday, hitting their highest level in a week after data showed the largest withdrawal on record in U.S. supplies in storage. U.S. natural gas futures jumped 9.5 cents, or around 3.3%, to $3.002 per million British thermal units by 10:45AM ET (1545GMT). Futures were at around $3.015 prior to the release of the supply data.

ECONOMY NEWS

  • China’s hints that it may slow purchases of U.S. government debt gave Treasury Secretary Steve Mnuchin and his team a test-run on debt market shocks. The episode, prompted by a Bloomberg News report that sent 10-year Treasury yields to their highest level in 10 months before recovering, highlights a staffing gap in the Office of Domestic Finance that pre-dates Mnuchin. That’s the arm of the department that would deal with a disruption in debt markets that a major shift in Chinese policy could precipitate.
  • The majority of economists believe that the Federal Reserve will hike rates in March with a second move higher arriving in June, according to a survey released on Thursday. A monthly Wall Street Journal survey of approximately 60 economists showed that 92.5% of them believe the Fed will hike rates at its March 28 decision.
  • The United States must be taken seriously when it says it might walk away from NAFTA, Canada’s foreign minister said on Thursday, a day after government sources said Ottawa was increasingly convinced U.S. President Donald Trump would pull the plug. Chrystia Freeland also told reporters that Canada had come up with some creative ideas in a bid to solve the toughest challenges facing negotiators when they meet for the sixth and penultimate round of talks to modernize the North American Free Trade Agreement later this month.

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11Jan

TODAY’S COMEX SIGNAL AND DAILY REPORT

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INTERNATIONAL COMEX NEWS

  • Gold prices were hovering near four-month highs on Wednesday, as sentiment on the U.S. dollar weakened ahead of retail sales and inflation reports due at the end of the week. Comex gold futures were up 0.69% at $1,322.80 a troy ounce by 08:30 a.m. ET (12:30 GMT), just off a four-month peak of 1,328.60 hit earlier in the day. The U.S. dollar received no support after official data on Wednesday showed that U.S. import prices rose less than expected in December, while export prices unexpectedly fell.
  • Crude prices held on to gains on Wednesday, staying close to their strongest level in around three years after data showed U.S. oil supplies fell more than forecast last week. The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 4.9 million barrels in the week ended Jan. 5. That compared with analysts’ expectations for a decline of 3.9 million barrels, while the American Petroleum Institute late Tuesday reported a supply-drop of 11.2 million barrels.
  • Natural gas futures ticked higher for the third session in a row on Wednesday, as investors speculated this week’s supply report will show the largest drop on record as cold weather boosts demand. U.S. natural gas futures tacked on 1.9 cents, or around 0.7%, to $2.942 per million British thermal units (btu) by 8:15AM ET (1315GMT). It surged 8.8 cents, or 3.1%, on Tuesday as freezing temperatures stoked demand for the heating fuel across the U.S. Northeast.

ECONOMY NEWS

  • Canada has launched a wide-ranging trade dispute against the United States, challenging Washington’s use of antidumping and anti-subsidy duties, Canada said in WTO filing dated Dec. 20 and published on Wednesday. Canada appeared to be mounting a case on behalf of the rest of the world, since it cited almost 200 examples of alleged U.S. wrongdoing, almost all of them concerning other trading partners, such as China, India, Brazil and the European Union
  • Chicago Federal Reserve Bank President Charles Evans on Wednesday said that in late 2017 when the rest of his Fed colleagues decided to raise interest rates for a third time, he wanted to wait until mid-2018. While most of his colleagues believe that a strengthening labor market will boost inflation this year, justifying higher interest rates, Evans said he has seen that forecast for several years running and it has not panned out.
  • The Federal Reserve Bank of Minneapolis on Wednesday called for U.S. regulators to raise capital requirements for the largest U.S. banks, saying they are still ‘too big to fail’ despite a slew of reforms introduced following the 2008 financial crisis. The academic study estimates there is still a 67 percent chance of a tax-payer funded bail out over the next 100 years and that common equity requirements for banks with assets exceeding $250 billion should be “dramatically” increased.Recent indications show some Fed officials remain worried about stubbornly low inflation. That suggests a more cautious approach to additional rate hikes.
10Jan

Today’s Comex signal and Daily Report

                                   Comex signal

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INTERNATIONAL COMEX NEWS

  • Gold’s outperformed most major assets since the U.S Federal Reserve last month raised interest rates — even bitcoin. “Since the December hike, gold is beating stocks, the dollar and bitcoin,” Bloomberg Intelligence analyst Mike McGlone wrote in a note. “Unless greenback weakness reverses, gold should shine.” The metal’s sparkling performance in the face of tighter rates, though counter-intuitive, has become the norm.
  • Crude oil prices continued to rise and were trading near multi-year highs on Tuesday, as a decline in U.S. oil rigs and supply cuts by major oil producers continued to support the commodity. The U.S. West Texas Intermediate crude February contract was up 22 cents or about 0.36% at $61.95 a barrel by 04:00 a.m. ET (08:00 GMT), just off a fresh two-and-a-half year high of $62.27 hit overnight.
  • Gold prices fell slightly in Asia on Tuesday even as a weaker dollar offered some support and Japan wages data showed a surprise upside. Gold futures for February delivery on the Comex division of the New York Mercantile Exchange dipped 0.05% to $1,319.70 a troy ounce. The US dolalr index fell 0.11% to 91.98. Japan reported average cash earnings for November jumped 0.9%, well above the 0.6% expected and overtime pay soared 2.60% compared to a 0.60% rise seen.

ECONOMY NEWS

  • Ireland’s corporate tax offering that has attracted many large multinationals to the country will remain competitive even as the equivalent corporate tax rate in the United States is slashed, Ireland’s finance minister said on Tuesday. “The proposition that we offer … will continue to be competitive, even against the context of changes being made in the U.S. .. and the UK,” Paschal Donohoe told a news conference.
  • President Emmanuel Macron offered on Tuesday to open up the French economy to Chinese investment in exchange for greater access to China’s booming markets, warning in talks in Beijing that existing trade imbalances would lead to protectionism. On the first state visit of his eight-month-old presidency, Macron is hoping greater openness from China, coupled with lobbying from the 50-strong business delegation traveling with him, will help narrow the 30-billioneuro ($36 bln) trade deficit Paris runs with Beijing.
  • Normally with an enormous tax cut package on the way, U.S. Federal Reserve policymakers would be expecting a spike in inflation. But given the unusual behavior of inflation since the Great Recession of 2009, normal may not be the case. Despite years of economic growth, the Fed’s preferred inflation gauge has yet to reach the central bank’s target level of 2%. At its worst in 2017, inflation rose st a 1.8% annual rate. Nevertheless, the central bank has raised interest rates on a steady basis since the end of 2015.
5Jan

Market Report for Friday

US Market :

The Dow Jones industrial average broke above 25,000 for the first time on Thursday, tying the fastest 1,000-point move in its history, following the release of stronger-than-expected jobs data. The S&P 500 and Nasdaq composite also hit record highs.

Europe Market :
European markets closed higher Thursday, as services PMI data showed the euro zone was hovering close to its best growth in seven years and oil prices hovered around 2.5 year highs amid unrest in Iran.

Precious Metal Gold :
Gold steadied around a 3-1/2-month high on Thursday as prospects for further U.S. interest rate increases put the brakes on a recent rally, while palladium touched record highs on tight supplies.

Crude Oil :
Oil prices rose on Thursday, supported by unrest in Iran that has raised concerns about supply risks, a demand boost due to cold weather in the United States and OPEC-led output cuts.

5jan

Indices & Commodities :
DJIA: 25,075.13 (+152.45)
S&P500: 2,723.99 (+10.93)
NASDAQ: 7,077.92 (+12.38)
DAX: 13,167.89 (+189.68)
FTSE: 7,695.88 (+24.77)
EuroStoxx50: 3,568.71 (+58.83)
Comex Gold: 1,321.6 (+3.1)
Comex Copper: 3.2630 (+.0055)
WTI Crude Oil: 62.01 (+.38)
Brent Crude Oil: 68.07 (+.23)

Economic Events :
6.00PM – EUR CPI
9.30PM – USD Nonfarm Payrolls, Unemployment Rate
9.30PM – CAD Employment Change
11.00PM – USD ISM Non-Manufacturing PMI
11.00PM – CAD Ivey PMI

5jan holidays

FX & Bonds :
USD/MYR – 4.012
EUR/USD – 1.207
GBP/MYR – 5.436
AUD/MYR – 3.146
SGD/MYR – 3.019
Msia 10 yr Bond Yield ? 3.92%

4/1/2018 Bursa Trade Stat :
Retail (27.5%) – net SELL 24.5mil
Institution (49.0%) – net SELL 291.6mil
Foreign (23.5%) – net BUY 316.1mil
Total traded value 3284.9mil

 

5Jan

TODAY’S COMEX SIGNAL AND NEWS

                          Gold Comex Signal

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INTERNATIONAL COMEX NEWS

  • Gold prices were lower on Thursday, but losses were expected to be limited as sentiment on the U.S. dollar remained vulnerable after the release of mixed U.S. economic reports. Comex gold futures were down 0.16% at $1,316.50 a troy ounce by 09:00 a.m. ET (13:00 GMT), off the previous session’s three-and-a-half month peak of $1,323.00. Payrolls processor ADP reported on Thursday that U.S. private employers added 250,000 jobs in December, well above economists’ expectations.
  • West Texas Intermediate oil held onto gains in North American trade on Thursday, after data that showed that oil supplies in the U.S. registered a larger-than-expected inventory draw. Crude oil for February delivery on the New York Mercantile Exchange gained $0.14, or 0.23%, to trade at $61.77 a barrel by 11:02AM ET (16:02GMT) compared to $61.81 ahead of the report. The U.S. Energy Information Administration said in its weekly report that crude oil inventoriesfell by 7.419 million barrels in the week ended December 22.
  • U.S. natural gas futures turned around and registered losses in North American trade on Thursday, after data showed that natural gas supplies in storage in the U.S. declined less than expected last week. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 206 billion cubic feet in the week ended December 29, while analysts had forecast a decline of 221 billion. After the release, natural gas for delivery in February on the New York Mercantile Exchange fell 0.3 cents, or about 0.10%, to trade at $3.003 per million British thermal units by 10:32AM ET (14:32GMT).

ECONOMY NEWS

  • Emboldened by his victory in the passage of the biggest U.S. tax overhaul in decades, President Donald Trump now wants to rein in social welfare programs even though some Republicans are wary of tackling the volatile issue in a congressional election year. A White House-led drive to downsize government aid programs such as food stamps and housing subsidies would energize conservative campaign donors whose support Republicans are counting on ahead of the November elections where the party will fight to keep control of Congress.
  • A weaker dollar could be doing the work of global central banks. The greenback begins 2018 after its worst year since 2003, and analysts at Bank of New York Mellon (NYSE:BK) Corp. and Credit Agricole (PA:CAGR) SA say further declines could mean central banks don’t have to tighten monetary policy as much as they may now be planning. The argument goes that by forcing up rival exchange rates.
  • Switzerland’s largest and wealthiest canton saw a three-fold rise in the number of tax cheats turning themselves in during 2017, Zurich officials said on Thursday, as an international accord to share information on offshore wealth takes effect. 6,150 Zurich taxpayers came clean on previously undisclosed assets in 2017, tripling the previous record set in 2016 and helping to disclose 1.3 billion Swiss francs ($1.33 billion) in hidden wealth so far.
2Jan

Today’s Comex Signal and News

 

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INTERNATIONAL COMEX NEWS

  • Gold extended its rally to a three-month high on Friday, leaping toward its biggest one-year rise in seven years as a wilting U.S. dollar, political tensions and receding concerns over the impact of U.S. interest rate hikes fed into its rally. Gold’s gains coincide with the greenback, in which gold is priced, sliding toward its worst year since 2003, damaged by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump’s election campaign, and persistently low U.S. inflation.
  • U.S. oil prices ended above $60 a barrel in the final trading day of the year on Friday, for the first time in over two years amid signs that a glut in global inventories is easing. U.S. West Texas Intermediate (WTI) crude futures for February delivery tacked on 28 cents, or around 0.47%, to end at $60.12 a barrel. It was the highest close since June 2015. Brent crude futures, the benchmark for oil prices outside the U.S., rose 47 cents or 0.71% to settle at $66.63 a barrel by close of trade.
  • An oil pipeline company established decades ago by Israel and Iran, and a new Israeli company that is meant to replace it, can continue to operate secretly, an Israeli parliamentary committee ruled on Sunday. The Eilat-Ashkelon Pipeline Co (EAPC) was a joint venture set up in 1968, when the two nations were friendly, to transport Iranian oil via Israel to the Mediterranean.

 

ECONOMY NEWS

  • The head of a conservative Republican faction in the U.S. Congress, who voted this month for a huge expansion of the national debt to pay for tax cuts, called himself a “fiscal conservative” on Sunday and urged budget restraint in 2018. In keeping with a sharp pivot under way among Republicans, U.S. Representative Mark Meadows, speaking on CBS’ “Face the Nation,” drew a hard line on federal spending, which lawmakers are bracing to do battle over in January.
  • President Sergio Mattarella on Sunday urged political parties to make realistic proposals to tackle Italy’s problems, especially joblessness, ahead of an election in March. Although the presidency is largely ceremonial, Mattarella does have the power to pick prime ministers and dissolve parliament, which he did this week to open the way for a March 4 election. “The duty to make adequate proposals – realistic and concrete ones – is a must given the dimension of the problems our country faces,” Mattarella said during a traditional end-year speech broadcast live on national television.
  • Venezuelan President Nicolas Maduro announced a 40 percent increase to the minimum wage as of January, a move that will foment what many economists already consider hyperinflation in the oil-rich but crisis-stricken nation. In his televised year-end address, leftist Maduro said the new wage level would protect workers against what he calls Washington’s “economic war” to sabotage socialism. “Good news!” said the former bus driver and union leader, speaking next to a Venezuelan flag in a midday address.

 

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