28Sep

KLCI Index Lost 0.08 Points

The FBM KLCI index lost 0.08 points or 0.00% on Thursday. The Finance Index fell 0.02% to 17813.37 points, the Properties Index dropped 0.35% to 1003.73 points and the Plantation Index rose 0.21% to 7563.26 points. The market traded within a range of 9.88 points between an intraday high of 1803.71 and a low of 1793.83 during the session.

Actively traded stocks include SAPNRG, VS-WA, HIBISCS, VELESTO, ORION, MYEG, SCOMI, PESONA, FOCUS and KGB-WA. Trading volume decreased to 1993.35 mil shares worth RM2053.86 mil as compared to Wednesday’s 2212.82 mil shares worth RM2300.40 mil.

28Sept

Leading Movers were GENM (+8 sen to RM5.01), PMETAL (+5 sen to RM4.83), SIME (+6 sen to RM2.64), IOICORP (+2 sen to RM4.56) and PETCHEM (+4 sen to RM9.38). Lagging Movers were IHH (-11 sen to RM5.18), HARTA (-8 sen to RM6.49), MISC (-6 sen to RM6.10), TM (-3 sen to RM3.23) and HLFG (-14 sen to RM19.48). Market breadth was negative with 359 gainers as compared to 503 losers.

 

The KLCI closed flattish at 1798.64 despite overnight poor performance in US market. The performance of our local bourse remained muted as lack of fresh catalyst.

27Sep

COMEX MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices slipped lower on Wednesday, but held above the psychologically important $1,200 level , as investors awaited the conclusion of the Federal Reserve meeting later in the day, when it was widely expected to deliver its third rate hike this year. December gold futures were down $2.20 or 0.19% to $1,203.90 by 07.15 AM ET (11.15 GMT) on the Comex division of the New York Mercantile Exchange.
  • West Texas Intermediate oil remained lower in North American trade on Wednesday, as data showed that oil supplies in the U.S. fell more than expected. Crude oil for November delivery on the New York Mercantile Exchange were mostly unchanged, falling 0.62% to trade at $71.81 a barrel by 10:32 AM ET (14:32 GMT) compared to $71.72 prior.
  • China’s soybean processors are snapping up record volumes of Brazilian cargoes for shipment in the fourth quarter, curbing purchases of U.S. crops in North America’s peak marketing season as the trade war between Washington and Beijing intensifies. That shift away from U.S. beans by China, which takes more than 60 percent of the commodity traded worldwide, will pile further pressure on benchmark Chicago Board of Trade prices after they plumbed 10-year lows last week

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  •  Ireland’s Sharon Donnery and Italy’s Andrea Enria are both likely to be shortlisted by the European Central Bank to head its bank supervision arm from next year, two sources familiar with the process said on Wednesday. The ECB’s Governing Council was to decide on the shortlist later in the day, then consult a European Parliament committee before narrowing down the list to a single candidate later this autumn.
  • Europe’s banking watchdog has backed a recommendation by the Maltese financial regulator to withdraw Pilatus Bank’s banking license following the indictment of its chairman for money laundering. EBA’s move puts pressure on the European Central Bank which is expected to make a decision on whether to withdraw Pilatus’s license as early as this week. A spokesman for the ECB declined to comment.
  • China will cut import tariffs on goods including machinery, paper, textiles and construction materials from Nov. 1, in a move that would lower costs for consumers and companies as a trade war with the U.S. deepens. The decision will lower tariffs for 1,585 products, state radio reported, citing a meeting of the State Council. The combination of these and other tariff cuts this year will lower the tax burden on consumers and companies by about 60 billion yuan ($8.7 billion), the radio reported.

GOLD TRADING FORECAST TODAY

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26Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  •  Gold prices edged higher on Tuesday, as the dollar dipped ahead of the two-day Federal Reserve meeting beginning later in the day, at which it was widely expected to deliver its third rate hike this year. December gold futures edged up 0.12% to $1,205.70 by 08:05 AM ET (12:05 GMT) on the Comex division of the New York Mercantile Exchange. Gold pushed higher as the dollar slid, with the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, down 0.21% to 93.66.
  • Iran’s oil tankers are starting to disappear from global satellite tracking systems with just under six weeks to go until U.S. sanctions are due to hit the country’s exports, making it harder to keep track of the nation’s sales. No signals have been received by shore stations or satellites from 10 of the Persian Gulf nation’s crude oil supertankers for at least a week, according to tanker tracking data compiled by Bloomberg.
  • Oil prices were trading within reach of four year highs on Tuesday amid fears over a looming supply crunch after global producers decided against any increase in production despite calls from U.S. President Donald Trump for action to cool prices. Global benchmark Brent crude futures were up 0.72% at $81.08 a barrel by 08:44 AM ET (12:44 GMT). Prices hit a high of $81.48 on Monday, the most since November 2014.

Comex Gold Signal

ECONOMY NEWS

  • The United States imposed new sanctions on Venezuelan President Nicolas Maduro’s wife and key members of his government, including the vice president and defense minister, accusing them of plundering the country’s wealth and helping Maduro maintain his grip on power. Venezuelan Vice President Delcy Rodriguez and Defense Minister Vladimir Padrino were among the six people targeted, according to a statement on Tuesday from the U.S. Treasury Department. Three entities and an aircraft were also listed.
  • U.S. sanctions will weigh on Russia’s economic growth but are unlikely to imminently deprive Moscow of its investment -grade rating, the head of Fitch Ratings Sovereigns group said on Tuesday. Concerns about more U.S. sanctions against Russia have intensified in the past few months, even though risks of sanctions that could target new Russian government debt have been in place for around a year. A year ago, Fitch said Russia’s sovereign rating would be one notch higher than its current BBB- level were it not for the latest round of U.S. sanctions. One year on, that is still the case.
  • Talk of a return to $100 oil has the central bank chief of western Europe’s largest petroleum producer worried. A recovery in the oil price to $80 a barrel has been a boon for the Norwegian economy, helping to narrow a widening budget gap and fueling activity. It even this month triggered the first rate increase in seven years. But the nation’s central bank governor is now warning that too high an oil price could again release undue euphoria in the petroleum industry.

comex gold signal

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26Sep

KLSE Update Today

The FBM KLCI index lost 5.70 points or 0.32% on Tuesday. The Finance Index fell 0.17% to 17806.87 points, the Properties Index up 0.37% to 1007.22 points and the Plantation Index rose 0.07% to 7530.56 points. The market traded within a range of 6.30 points between an intra-day high of 1800.87 and a low of 1794.57 during the session.

Actively traded stocks include SAPNRG, HIBISCS, VS-WA, QES, REACH-WA, FRONTKN, MYEG, KNM, REACH and BORNOIL. Trading volume increased to 1858.10 mil shares worth RM1914.89 mil as compared to Monday’s 1643.51 mil shares worth RM1499.03 mil.

26 sept

 

Leading Movers were SIME (+3 sen to RM2.62), PETDAG (+28 sen to RM26.64), IOICORP (+4 sen to RM4.54), GENTING (+5 sen to RM7.93) and KLCC (+4 sen to RM7.74). Lagging Movers were AXIATA (-21 sen to RM4.56), TM (-5 sen to RM3.21), DIALOG (-5 sen to RM3.45), PMETAL (-5 sen to RM4.78) and HLFG (-18 sen to RM19.60). Market breadth was positive with 393 gainers as compared to 384 losers.

The KLCI closed lower at 1794.47 points amid overnight mixed performance in US market. The performance of our local bourse bogged down due selling interest in heavy weight counters led by Axiata.

 

 

25Sep
main-qimg-dc062753a07df121f8b85a4efe990b45

Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Higher as Sterling Slumps on Brexit Woes
Forex – Sterling Hits Intraday Lows as May Says UK-EU at Impasse
Forex – EUR/USD: Fed should help for another visit to 1.15 – Danske Bank

EUR/USD

The greenback quickly drops and retests the 93.80 area. ECB’s Draghi sees underlying inflation picking up vigorously. EUR/USD leapt to fresh daily highs in the 1.1800/10 band in response to hawkish comments from President Mario Draghi. After bottoming out in the proximity of 1.1720 earlier in the session, spot gathered quick upside traction and moved beyond the 1.1800 milestones following comments by President Draghi. In fact, at his speech before the European Parliament, Draghi noted the tight conditions in the labour market, upside pressure on wages while he sees a vigorous pick up in underlying inflation. Draghi’s comments appear to have reinforced the idea that the ECB could start its tightening cycle at some point in H2 2019, with likely two rate hikes in October and December. At the moment, the pair is up 0.49% at 1.1806 and a breakout of 1.1815 (high Sep.24) would target 1.1853 (monthly high Jun.14) en route to 1.1947 (200-day SMA).

GBP/USD

The U.S. dollar continued to fall against other currencies on Monday, while the pound gained ground as investors awaited an interest rate decision from the Federal Reserve. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.21% to 93.59 as of 10:21 AM ET (14:21 GMT). The Fed meets on Tuesday and Wednesday, with traders expecting a rate hike for the third time this year. The market has already priced in a 100% chance of a 25-basis point increase. Chances of an increase in December were at 86.1%. Meanwhile, trade war concerns escalated after U.S. duties on $200 billion of Chinese goods and Chinese tariffs on $60 billion of U.S. products went into effect. China cancelled mid-level trade talks with the U.S. as well as a proposed visit to Washington by Vice Premier Liu He, which had been scheduled for this week, saying the U.S. was bullying them.

 

25 fx

 

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25Sep

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices were higher on Monday as the greenback slumped amid trade war tensions and investors waited for the Federal Reserve’s interest rate decision this week. Comex gold futures for December delivery increased 0.36% to $1,205.60 a troy ounce as of 9:29 AM ET (13:29 GMT). The Fed meets on Tuesday and Wednesday, with traders expecting a rate hike for the third time this year.
  • Oil prices continued to climb on Monday as an Iranian official said Saudi Arabia and Russia lack the capacity to add more oil to the market. West Texas Crude oil futures for November rose 1.96% to $72.17 a barrel as of 10:49 AM ET (14:49 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 2.21% to an almost four-year-high of $79.97.
  • Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Monday, predicting prices will probably rise further. On Sunday, ministers and officials from the Organization of the Petroleum Exporting Countries plus Russia and other allies ruled out an immediate oil-output boost, in effect rebuffing U.S. President Donald Trump’s calls for action.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • The euro zone should be preparing for a big hit if the protectionist measures announced by the United States and China are implemented, the head of the European Central Bank said on Monday. “For the time being, we don’t know what the final size of all this will, be but we know it’s going to be big and we should do our best to be prepared,” Mario Draghi told the EU Parliament in Brussels.
  • President Emmanuel Macron’s government is set to present a series of measures to keep French borders open and transport with the U.K. running as France vows to increase pressure for a Brexit accord. French European Affairs Minister Nathalie Loiseau will present provisions to maintain physical links with the U.K. on Oct. 3 at the weekly cabinet meeting, government spokesman Benjamin Griveaux told reporters in Paris on Monday.
  • Argentina will add $3 billion to $5 billion in additional credit to a $50 billion standby deal the country signed with the IMF in June to cover its financing needs, La Nacion newspaper reported on its website on Monday, citing official sources. It was not immediately possible to confirm details of the report. President Mauricio Macri is in New York for the United Nations General Assembly, where he is due to hold talks with foreign investors and meet with U.S. President Donald Trump, the newspaper said.

GOLD TRADING FORECAST TODAY

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24Sep

TODAY’S COMEX GOLD SIGNAL AND DAILY TECHNICAL REPORT

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

COMEX GOLD SIGNAL

INTERNATIONAL COMEX NEWS

  • The United States is getting “very, very close” to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said on Friday. There is just over a week to go before a U.S.-imposed Oct. 1 deadline to publish the text of a deal to update the North American Free Trade Agreement, and the United States and Canada have still not agreed on terms, Hassett told Fox News Channel.
  • WTI crude oil prices settled higher Friday, as traders cheered signs of tightening U.S. output, though sentiment was soured by a report suggesting major oil producers were ready to discuss plans to ramp up output. On the New York Mercantile Exchange, crude futures for October delivery rose 46 cents to settle at $70.78 a barrel, while on London’s Intercontinental Exchange, Brent gained 0.09% to trade at $78.77 a barrel.
  • Metal prices were in rally mode Friday as copper hit 12-week highs, shrugging off a strong dollar on easing trade war fears, though analysts warned downside momentum could resume. The United States and China, earlier this week, announced tariffs at a lower rate than many had feared, helping lift sentiment on trade, easing fears escalating trade tensions would dent China’s appetite for metals.

COMEX GOLD SIGNAL

ECONOMY NEWS

  • China has canceled upcoming trade talks with the United States and will not send vice-premier Liu He to Washington next week, the Wall Street Journal reported, citing sources. The Wall Street Journal said a mid-level delegation was due to travel to Washington ahead of Liu’s visit, but the trip has now been abandoned. Earlier this week, China added $60 billion of U.S. products to its import tariff list as it retaliated against U.S. duties on $200 billion of Chinese goods set to go into effect from Sept. 24.
  • U.S. Treasury official Adam Lerrick has been tapped by the Trump administration to serve as the country’s acting executive director at the International Monetary Fund, the Financial Times reported on Friday, citing a source. Lerrick, who is a counselor for international affairs, will be temporarily appointed U.S. executive director at the IMF while the administration awaits the Senate confirmation of investment banker Mark Rosen to the role, the report said.
  • Newly appointed Zimbabwean Finance Minister Mthuli Ncube would like to employ a “big bang” economic reform program to the battered economy where unemployment is running above 80 percent, but recognizes politics will limit the speed for change. “My preference is a fiscal shock, but there is a what you call the political collar or the politics of policy making which then slows you down. My preference would be more of a big bang approach because every day counts in terms of cost,” Ncube, a former banker, said in a briefing with journalists on the sidelines of an investor conference in New York on Friday.

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24Sep

FBM KLCI Index Gained 2.99 Points

The FBM KLCI index gained 2.99 points or 0.17% on Thursday. The Finance Index increased 0.41% to 17905.89 points, the Properties Index dropped 0.26% to 996.59 points and the Plantation Index rose 0.20% to 7569.36 points. The market traded within a range of 7.15 points between an intra-day high of 1810.21 and a low of 1803.06 during the session.

Actively traded stocks include SAPNRG, HIBISCS, D&O, BORNOIL, REACH-WA, MYEG, QES, DIALOG, HSI-H4O and VC. Trading volume decreased to 1940.22 mil shares worth RM2022.60 mil as compared to Wednesday’s 2007.36 mil shares worth RM1896.27 mil.

Top 5 24 sept

Leading Movers were HLFG (+40 sen to RM19.76), SIME (+4 sen to RM2.60), GENM (+7 sen to RM4.89), DIALOG (+4 sen to RM3.55) and RHBBANK (+5 sen to RM5.45). Lagging Movers were TM (-7 sen to RM3.13), MAHB (-12 sen to RM8.95), IHH (-3 sen to RM5.16), PETDAG (-10 sen to RM26.30) and PETGAS (-6 sen to RM18.94). Market breadth was negative with 404 gainers as compared to 412 losers.

24 Sept' 18

The KLCI closed higher at 1803.70 points despite overnight mixed performance in US market. The performance of our local bourse was lifted by buying interest in heavy weight counters led by Hong Leong Financial Group.

 


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21Sep
shutterstock_331853588

Epic Research| Forex Report

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Traders See the Fed’s Next Rate Hike as a Big Sell Signal
Forex – GBP/USD strong bullish run pauses just ahead of 1.3300 handle
Forex – EUR/USD rebounds are likely to be short-term and capped – Westpac

EUR/USD

“Their first budget was expected to test EU budget responsibility amidst fears of a fiscal blowout due to the opposing stances of the rightwing League and spending friendly 5 Star. Though still a risk, their budget appears to be falling well inside EU’s 3% deficit to GDP guidance and so a potential negative for EUR is turning into a supportive factor.” “Last week Draghi downplayed downside risks for a balanced and neutral outlook while maintaining their forward guidance. In addition to flash and Germany’s IFO survey, the ECB will be closely watching for any upside pressures within coming inflation data to offset external downside risks and persisting moderation in hard activity data.” “EUR/USD rebounds on the back of Italy’s reduced budget risk and consolidation in USD are likely to be short-term and capped within the current 1.12-1.19 range.”

GBP/USD

The GBP/USD pair stalled its strong intraday bullish momentum just ahead of the 1.3300 handle and quickly retreated around 20-pips in the last hour. A combination of supporting factors – collapsing US Dollar, upbeat UK retail sales data and Brexit optimism, assisted the pair to catch some strong bids and confirm a fresh bullish break through 100-day SMA. With today’s strong up-move, the pair had rallied over 200- pips from overnight swing low level of 1.3096, touched in the reaction of a report that the UK PM May will reject the EU’s new proposal on the Irish border. Bulls, however, took some breather following the release of better-than-expected US economic data – Philly Fed manufacturing index and initial weekly jobless claims. This coupled with resurgent US Treasury bond yieldshelped ease the US Dollar bearish pressure, at least of the time being, and halted the pair’s relentless rally to the highest level since July 10.

21

 

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21Sep

KLSE Update Today

The FBM KLCI index gained 2.99 points or 0.17% on Thursday. The Finance Index increased 0.41% to 17905.89 points, the Properties Index dropped 0.26% to 996.59 points and the Plantation Index rose 0.20% to 7569.36 points. The market traded within a range of 7.15 points between an intra-day high of 1810.21 and a low of 1803.06 during the session.

Actively traded stocks include SAPNRG, HIBISCS, D&O, BORNOIL, REACH-WA, MYEG, QES, DIALOG, HSI-H4O and VC. Trading volume decreased to 1940.22 mil shares worth RM2022.60 mil as compared to Wednesday’s 2007.36 mil shares worth RM1896.27 mil.

21 seopt

Leading Movers were HLFG (+40 sen to RM19.76), SIME (+4 sen to RM2.60), GENM (+7 sen to RM4.89), DIALOG (+4 sen to RM3.55) and RHBBANK (+5 sen to RM5.45). Lagging Movers were TM (-7 sen to RM3.13), MAHB (-12 sen to RM8.95), IHH (-3 sen to RM5.16), PETDAG (-10 sen to RM26.30) and PETGAS (-6 sen to RM18.94). Market breadth was negative with 404 gainers as compared to 412 losers.

 

The KLCI closed higher at 1803.70 points despite overnight mixed performance in US market. The performance of our local bourse was lifted by buying interest in heavy weight counters led by Hong Leong Financial Group.

 


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