Daily Archives: February 5, 2018


U.S. stocks fell sharply on Friday

US Market :

U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher. Friday marked the first time since June 2016 that the Dow fell at least 500 points. The major indexes posted their worst weekly performance in two years. The benchmark 10-year yield rose to 2.85 percent.

blog market news

Europe Market :
European equities closed lower on Friday afternoon as investors digested further earnings reports. All European indices close the Friday session lower. In Germany Deutsche Bank reported a net loss of about 497 million euros for 2017.

Precious Metal Gold :
Gold prices declined on Friday as the U.S. dollar ticked up against the euro after U.S. jobs data showed a robust rise in jobs and wages and 10-year U.S. Treasury yields peaked.

Crude Oil :
Oil prices fell on Friday as the stock market slumped on concerns about rising interest rates and as the U.S. dollar firmed up following a strong U.S. jobs report.

Indices & Commodities :
DJIA: 25,520.96 (-665.75)
S&P500: 2,762.13 (-59.85)
NASDAQ: 7,240.95 (-144.92)
DAX: 12,785.16 (-218.74)
FTSE: 7,443.43 (-46.96)
EuroStoxx50: 3,524.97 (-52.38)
Comex Gold: 1,337.3 (-10.6)
Comex Copper: 3.1875 (-.0215)
WTI Crude Oil: 65.45 (-.35)
Brent Crude Oil: 68.58 (-1.07)

Economic Events :
5.30PM – GBP Services PMI (Jan)
11.00PM – USD ISM Non-Manufacturing PMI (Jan)
12.00AM – EUR ECB President Draghi Speaks

FX & Bonds :
USD/MYR – 3.887
EUR/USD – 1.245
GBP/MYR – 5.491
AUD/MYR – 3.081
SGD/MYR – 2.946
Msia 10 yr Bond Yield ? 3.89%

2/2/2018 Bursa Trade Stat :
Retail – net BUY 5.0mil
Institution – net SELL 233.5mil
Foreign – net BUY 228.5mil
Total traded value 3250.8mil


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Today’s Comex Gold Signal and Daily Report


Comex Gold Signal


5 feb1





  • Gold prices moved higher on Friday, as sentiment on the U.S. dollar remained vulnerable ahead of a key U.S. employment report due to be released later in the day. Comex gold futures were up 0.28% at $1,351.60 a troy ounce by 03:00 a.m. ET (07:00 GMT). Market participants were looking ahead to the U.S. nonfarm payrolls report due later Friday, for further indications on the strength of the job market.
  • Surging shale oil production in Texas and North Dakota is being felt on trading desks in Chicago, Houston and New York, where a brisk business in West Texas Intermediate crude futures is far outpacing contracts for LondonbasedBrent crude. As the United States approaches a record 10.04 million barrels of daily production, trading volumes of so-called “WTI” futures exceeded volumes of Brent crude in 2017 by the largest margin in at least seven years.
  • Natural gas futures declined on Thursday, falling to the lowest levels of the session after data showed that domestic supplies in storage fell less than forecast last week. Front-month U.S. natural gas futures sank 14.2 cents, or around 4.7%, to $2.853 per million British thermal units (btu) by 10:32AM ET (1532GMT), the weakest level since Jan. 9. Futures were at around $2.888 prior to the release of the supply data.


  • The Bank of England will find itself facing a question next week that is set to trouble many other central banks this year – does an unexpectedly strong global economy mean it should press ahead with raising interest rates? For the BoE – and its Indian, Australian and New Zealand counterparts – the answer over the next few days is likely to be no, as domestic uncertainties for now outweigh the inflationary pressure of a powerful global upswing.
  • A low, “flat tax” rate for individuals and businesses alike can invigorate Italy’s economy, reduce tax evasion and strengthen public finances, a close ally of Silvio Berlusconi and possible future economy minister told Reuters. Renato Brunetta, leader of Berlusconi’s Forza Italia (Go Italy!) party in the lower house of parliament, said a flat tax would be the centre-piece of the campaign by the center-right alliance, which is expected to win the most seats in a March 4 election.
  • Europe is not ready for another economic downturn and the next crisis could test the limits of the European Central Bank, potentially pushing interest rates much deeper into negative territory, ECB board member Benoit Coeure said on Friday. Having fought off Europe’s debt crisis with a 2 trillion euro spending spree, some ECB officials are concerned that governments have used their time poorly, failing to improve the bloc’s shock absorption capacity and leaving it vulnerable to future shocks.
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