27Jun

GOLD TRADING FORECAST TODAY | COMMODITY MARKET IN MALAYSIA

GOLD TRADING FORECAST TODAY

  GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices headed lower for a second consecutive session in mid-morning trade on Tuesday, hitting a six-month low, as the dollar moved higher and investors waited for appearances from Federal Reserve policymakers to garner clues on the outlook for further rate hikes. At 11:13AM ET (15:13GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell $5.90, or 0.5%, to $1,263.00 a troy ounce.
  • Crude oil prices were higher on Tuesday, amid uncertainty over Libyan exports and Canadian production losses as the U.S. said it wants to help allies replicate its oil production boom. Crude oil futures decreased 0.94% to $68.72 a barrel as of 11:02 AM ET (15:02 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., rose 0.30% to $74.77.
  • The administration of President Donald Trump wants to help allies and trade partners replicate the U.S. natural gas and oil production boom by exporting American know-how, U.S. Energy Secretary Rick Perry said on Tuesday, even as trade disputes intensified. “We are bearing witness to this astonishing energy miracle,” Perry said at the opening ceremony of the triennial World Gas Conference, referring to a surge in U.S. fossil fuels production over the past several years made possible by advanced hydraulic fracturing drilling technology.

ECONOMY NEWS

  • The European Union and China are teaming up to rewrite global trade rules, their latest move in a wider fightback against the trade war Donald Trump has launched as part of his “America First” agenda. The two powers usually find themselves on opposite sides in economic disputes. The EU has long blamed China for flooding its markets with cheap steel, and has imposed its own steep tariffs on Beijing. But on this issue they have been driven together by Trump’s increasingly aggressive push to levy tariffs both on rival powers — like China — and also longtime allies like the EU.
  • Germany plans to raise the minimum wage to 9.19 euros ($10.74) per hour next year and to 9.35 euros per hour in 2020, the labor minister said on Tuesday, paving the way for a possible boost to private consumption in Europe’s biggest economy. Chancellor Angela Merkel’s government introduced a national minimum wage of 8.50 euros for more than 3 million workers in 2015. It was last raised in 2017, to the current 8.84 euros.
  • One in three European firms plans to cut investment spending as a result of Brexit and more than one-tenth of those with operations in Britain expects to pull out of the country entirely, according to a survey by Swiss bank UBS (S:UBSG). Half of the companies do not expect Britain leaving the European Union to change their investment plans, the survey of 600 euro zone firms, published on Tuesday, showed.

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

26Jun

Malaysia Stock Market

Ringgit falls to a five-month low as foreign funds continue to sell the nation’s stocks on concerns over the fiscal implications from the 1MDB scandal and as China-U.S. trade tensions simmer.  USD/MYR rises 0.1% to 4.0212; touched 4.0227, highest since Jan. 4 as foreign investors were net sellers of stocks on Monday for the 34th consecutive session. 1-month implied volatility increases 2 vol to 5.50%. Support for spot 3.9825, 3.9505, 3.9430; resistance 4.0352, 4.0477, 4.0920. Sentiment towards EM Asian FX is fragile after the PBOC’s targeted RRR cut failed to lend support and the yuan renewed recent declines, says Ken Cheung, a senior currency strategist at Mizuho Bank in Hong Kong. Still, the recent drop in the dollar should provide some respite to regional currencies. JPMorgan Chase is underweight Malaysian stocks to reprice policy risks after surprise election outcome

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Rising tensions between the US and other major countries especially China continued to weigh on equities markets, with key Asian markets including Bursa Malaysia following Wall Street lower.
At 9.12am, the FBM KLCI was down 2.19 points or 0.13% to 2,675.91. Turnover was 228.54 million shares valued at RM73.89mil. There were 87 gainers, 233 losers and 147 counters unchanged. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1%. Japan’s Nikkei lost 0.8%, South Korea’s Kospi fell 0.55% and Australian stocks dropped 0.6%. On the outlook for the KLCI, CIMB Equities Research said the index’s “down leg” from the 2018 peak of 1,896 should be ending over the next few weeks. 

 

PPB Group lost 18 sen to RM19.46, Hap Seng and UMW nine sen each to RM9.68 and RM6.17 while Genting Malaysia lost seven sen to RM4.81. Padini lost eight sen to RM5.52, Vitrox six sen lower at RM5.60 and NTPM was down 5.5 sen to 53 sen were down 8% in early trade after the company reported a 95% slump in profits in the third quarter ended April 30. The steelmaker shed 8.33%, or three sen to 33 sen with over three million shares traded. Hiapteck-WB fell 14.29%, or two sen to 12 sen. Hiap Teck’s net profit for the third financial quarter ended April 30, 2018 (3QFY18) tumbled 95.8% to RM1.34mil from RM31.94mil in 3QFY17, due to higher operating expenses and a significantly higher share of loss incurred by its joint-venture (JV) during the quarter under review.


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25Jun

COMMODITY MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

    GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • Gold prices remained close to their lowest level this year as a weaker dollar failed to stoke appetite for the yellow metal. Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $0.50 or 0.04%, to $1,270.10 a troy ounce. Gold prices had hit a 2018 low of $1,260.00 on Thursday before clawing back losses.
  • WTI crude oil prices settled nearly 5% higher Friday as OPEC’s crude output hike was more modest than some producers had hoped, easing investor fears that a wave of crude supply would hold back oil prices. On the New York Mercantile Exchange crude futures for August delivery rose 4.6% to settle at $68.58 a barrel, while on London’s Intercontinental Exchange, Brent climbed 3.4% to trade at $75.55 a barrel.
  • The World Bank will issue a $400 million loan to China’s southwestern Guangxi region to help poverty reduction efforts, the bank said. The funds will support efforts to boost incomes by setting up farmers’ co-operatives, and connecting small-scale farmers with markets. It will also finance infrastructure, and is expected to benefit about 1.74 million people, the bank said on Friday.

ECONOMY NEWS

  • China’s consumer prices are likely to be stable in the second half of the year, the state planner said on Saturday, soothing concerns that have grown amid China’s escalating trade dispute with the United States. “The market in general thinks the macro environment is stable and market supply is sufficient,” an official at the pricing department of the National Development and Reform Commission said.
  • Talks over U.S. commercial use of a rocket launch site in Brazil are advancing and will take center stage during Vice President Mike Pence’s visit to Brasilia next week, according to three people familiar with the matter. While a final agreement is unlikely during his visit, progress has been made in discussions to give U.S. personnel access to the Alcantara base in the northeastern state of Maranhao, while ensuring sovereignty safeguards to Brazil. Both sides have made concessions and things are moving forward in a positive way, the people said, asking not to be named because talks aren’t public. Discussions are now focused on the financial end of the deal and on transfer of technology, they added.
  • Shares in Russian business conglomerate Sistema (MM:AFKS) (L:SSAq) fell 8.7 percent in Moscow trade on Friday, after two U.S. lawmakers called for an investigation into whether the group’s owner should be subject to sanctions. In a letter https:// to U.S. Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo, Congress members Ileana Ros-Lehtinen and Mark Walker called for “immediate action to determine whether Russian national Vladimir Yevtushenkov meets the criteria to be sanctioned”.

GOLD TRADING FORECAST TODAY

25June4

22Jun
Forex คืออะไร

Epic Research : Forex Insight

INTERNATIONAL CURRENCY BUZZ

Forex – Dollar Dips on Soft U.S. Factory Data, BoE Boosts Pound
Forex – GBP/USD extends gains, rises to 1.3270
Forex – EUR/USD bulls take a breather above 1.16

EUR/USD

The EUR/USD pair benefited from the broad-based selling pressure witness on the USD in the early NA session and erased its daily losses to turn positive above the 1.16 mark. After advancing to a fresh session high at 1.1633, the pair lost its momentum and was last seen trading at 1.1603, where it was up 0.25% on the day. The sudden risk-aversion felt in the last cıouple of hours dragged the 10-year US T-bond yields below the 2.9% mark and weighed on the greenback. The US Dollar Index, which rallied to a fresh 11-month high above 95 earlier today, dropped all the way down to 94.33 before starting to consolidate its losses. At the moment, the index is down 0.23% on the day at 94.55. Meanwhile, today’s data from the United States disappointed with the Philly Fed Manufacturing Index missing the market expectation of 29 with 19.9 in June. Furthermore, the housing price index came in at 0.1% in April to fall short of experts’ estimate of 0.3%.

GBP/USD

The GBP/USD pair rose more than 150 pips from the daily low. Earlier today bottomed at 1.3100, the lowest since November. After the BoE decision climbed above 1.3200 and then, a weak US dollar boosted the pair further to the upside. Recently it printed a fresh daily high at 1.3270, the highest level since Tuesday. It was hovering around 1.3250/60, consolidating important daily gains. The pound is among the top performers on Thursday on the back of BoE policy expectations that changed after the 7-2 vote at the MPC and the comments regarding when to consider changes to the purchase program. “The GBP appreciated and Gilt yields rose across the curve on the hawkish signals from the Bank of England. The market is now pricing in above 65% probability of a rate hike in August (17bp priced) compared with around 45% probability prior to the announcement, while a November hike is now almost fully priced in.

 

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21Jun

COMMODITY 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 steady at a six-month low on Wednesday, as the greenback rose and trade tensions waned. Comex gold futures for August delivery were down 0.20% to $1,276.10 a troy ounce as of 10:38 AM ET (14:38 GMT). Trade tensions between the U.S. and China eased but still remained on the back of investors minds, as the two largest economies in the world faced a tit-for-tat over trade tariffs.
  • Crude prices extended gains on Wednesday, after data showed that U.S. oil stockpiles fell much more than expected last week. U.S. benchmark oil, August West Texas Intermediate crude was up 98 cents, or roughly 1.5%, at $65.86 a barrel on the New York Mercantile Exchange by 10:35AM ET (1435GMT). Prices were at around $65.64 prior to the release of the inventory data.
  • OPEC officials meeting in Vienna raced to salvage an oil-production deal on Wednesday after Iran said it was likely to reject any agreement that raised output from the group. With two days before OPEC ministers formally meet in Vienna to decide on policy, delegates were in closed-door talks to find a way to boost production and ease consumer anxiety about high oil prices. Making his first comments after arriving in Vienna, Saudi Oil Minister Khalid Al-Falih said “of course” there’ll be a deal this week.

ECONOMY NEWS

  •  Germany and France have agreed a joint proposal for corporate tax harmonization among EU member states to fight tax avoidance and level the playing field for companies doing business in the bloc, the German Finance Ministry said on Wednesday. Finance Minister Olaf Scholz and French counterpart Bruno Le Maire nailed down a deal that is meant to facilitate discussions with other member states and enable the swift adoption of a European Union directive, the ministry said.
  • A ‘deflationary mindset’ that has taken hold in Japan will take time to dispel, the country’s central bank governor Haruhiko Kuroda said on Wednesday. “The deflationary mindset that has become entrenched amongst people is quite tenacious and it will take time to completely dispel this mindset,” Kuroda told a European Central Bank conference in the Portuguese town of Sintra.
  • Central banks around the world may need to accept that inflation will be lower than their targets for some time, since pushing up price growth is risky and comes with questionable side-effects, Reserve Bank of Australia Governor Philip Lowe said.”That leaves us with the possibility of accepting that inflation might just a bit lower than we’d like for a while,” Lowe told a central banking conference in Sintra, Portugal, on Wednesday. “That’s difficult for the central bank to accept.”

GOLD TRADING FORECAST TODAY GOLD TRADING FORECAST TODAY

21Jun

What Stocks to Trade Today :

Major Stocks to Trade:

21 june 2

KLCI was down 9.92 points or 0.58% to 1,699.83. Turnover was 743.72 million shares valued RM576.26mil. There were 206 gainers, 463 losers, 291 counters unchanged. The decline on Bursa Malaysia contrasted with the key Asian markets.


Asian shares crept ahead on Thursday as a lull in the Sino-US trade tussle and talk of more Chinese stimulus helped calm nerves, while tensions in the oil market grew ahead of an OPEC meeting that could expand the supply of crude, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, while Japan’s Nikkei added 0.7%. BAT fell the most, down 60 sen to RM36.06, Petronas Dagangan 50 sen to RM24.36, Nestke 40 sen lower at RM145.80. Telekom Malaysia fell to the lowest since late 2011, down 40 sen to RM3.23 after the new federal government announced plans to cut broadband prices by 25% by year-end. Axiata lost 17 sen to RM4.20. MyEG rose two sen to RM1.02 in active trade. CIMB Equities Research is keeping its forecasts and target price of RM1.22 for MyEG, still based on a technology sector 2019F target price-to-earnings (P/E) of 15 times. 

 

21 june

 

The FTSE Bursa Malaysia KLCI Index fell as much as 1 percent on Thursday, taking its decline to 11 percent since a peak two months ago. Down for a ninth straight day, the measure is heading for its lowest level since February 2017. Malaysian stocks have become some of the world’s worst performers since a record in April, down more than 10%. Foreign investors trying to adjust to a new prime minister seeking to shore up the nation’s debt have fled the market, pulling money from equity funds everysingle day since the start of May.

CIMB Equities Research is keeping its forecasts and target price of RM1.22 for MyEG Services, still based on a technology sector 2019F target price-to-earnings (P/E) of 15 times.  It said on Thursday a potential re-rating catalyst is MyEG winning a contract to monitor Malaysia’s upcoming Sales and Services Tax (SST).  “A downside risk is liberalisation of the domestic car roadtax and foreign worker working permit renewal services, which may open MyEG’s niche segment to other players,” it said. On Wednesday evening, MyEG announced that its associate I-Pay MyEG Philippines Inc (IPMPI) had inked an MoU with Cagayan Economic Zone Authority (CEZA).


BUY DATAPRP ABOVE 0.230 TARGET 0.250 0.280 SL 0.210

 

 

INTRADAY OUTLOOK:-

SUPPORT– 0.230 RESISTANCE– 0.250 MARKET STRATEGY– LONG RELATIVE STRENGTH INDEX(RSI) – 63.659


 

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19Jun

COMMODITY MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

Comex Gold Signal                               Comex Gold Signal

Comex Gold signal

Comex Gold Signal

INTERNATIONAL COMEX NEWS

  • Gold prices were modestly higher on Monday but remained near a 6-month low, as worry over trade remained in focus. Comex gold futures for August delivery were up 0.21% to $1,281.20 a troy ounce as of 10:28 AM ET (14:28 GMT). On Friday U.S. President Donald Trump announced a 25% tariff on 818 different Chinese goods worth $34 billion beginning on July 6. China promptly retaliated with a 25% tariff on U.S. goods, including soybeans and automobiles, also worth $34 billion.
  • OPEC is discussing a relatively modest production increase before its meeting in Vienna this week, an attempt to bridge the gap between Russia’s push for a big rise and and Iran’s insistence that no change is needed. While a compromise may be necessary to overcome vocal opposition from Tehran, Baghdad and Caracas, it could mean the resulting supply boost is smaller than oil traders — or indeed the U.S. President Donald Trump — had been anticipating.
  • Oil prices bounced off two-month lows hit earlier on Monday after reports that the contemplated increase in output by Saudi Arabia and Russia may be less than originally feared. New York-traded West Texas Intermediate crude futures rose 23 cents, or about 0.3%, to $65.08 a barrel by 10:33AM ET (14:33GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., was last up $1.09, or 1.5%, to $74.53.

ECONOMY NEWS

  •  Most government bond yields in the euro zone were steady to a touch lower on Monday, capped by the European Central Bank’s signaling last week that it will keep interest rates low well beyond the end of its stimulus scheme. Fears that a trade spat between the world’s two largest economies could escalate also boosted sentiment toward the bloc’s safehaven debt. Still, trade was generally subdued with focus turning to a three-day ECB forum in Sintra, Portugal opening on Monday.
  • Nearly 70 percent of public sector investors plan to raise their exposure to infrastructure over the next 1-2 years, equating to potentially an extra $130 billion invested, a survey showed on Monday. The survey by the Official Monetary and Financial Institutions Forum (OMFIF) and BNY Mellon polled sovereign wealth funds and public pension funds with combined assets under management of almost $4.6 trillion. That is about 20 percent of the $22.9 trillion held by sovereign and pension funds globally.
  • Now is the right time to pressure China on its trade policies because the U.S. economy is strong enough to absorb uncertainty arising from bilateral tensions, White House Council of Economic Advisers Chairman Kevin Hassett said Monday. Hassett spoke three days after President Donald Trump vowed to impose tariffs on at least $50 billion in Chinese goods amid failed trade negotiations with Beijing.

Comex Gold Signal

Comex Gold Signal

18Jun

Malaysia Stock Trading Today

TRADING of the shares in gaming group Magnum Bhd (fundamental: 1.4/3, valuation: 2/3), which saw 2.38 million shares crossed last Thursday, triggered our momentum algorithm.

Magnum rose 11 sen or 4.93% to a one-year high of RM2.34, giving the group a market capitalisation of RM3.35 billion and making it the 15th largest gainer on Bursa Malaysia that day. It is trading at 1.34 times its book value. The group posted a 79.7% increase in net profit for its first quarter ended March 31, 2018 to RM54.94 million, from RM30.57 million a year ago, on the back of higher gaming revenue and a lower prize-payout ratio. On June 1, Lum Fook Seng was promoted to chief financial officer of the group. Lum, 53, acts as the head of finance and administration for the group and has more than 26 years of experience in the gaming industry.

chart_api

Ringgit opens lower against US dollar

 

The ringgit reversed last week’s upward momentum to open lower this morning on the back of a stronger US dollar, a dealer said. At 9.01 am, the ringgit was quoted at 3.9960/4.000 against the greenback from last Thursday’s close of 3.9835/9875. The US dollar soared to an almost seven-month high after hawkish signals from the US Federal Reserve (Fed) on interest rates, with indications of a further two more increases before year-end.

The Fed concluded its Wednesday meeting last week by raising the interest rate by 0.25 per cent for a second time this year to between 1.75 and two per cent. According to the dealer, weak market participation on the local front due to many traders being away for the Hari Raya holiday, also partly contributed to the unfavourable market performance. However, the ringgit traded higher against other major currencies. It rose against the Singapore dollar to 2.9550/9586 from Thursday’s 2.9861/9896 and increased against the Japanese yen to 3.6143/6189 from 3.6230/6270. The ringgit strengthened versus the British pound to 5.2991/3064 from 5.3506/3576 and improved vis-a-vis the euro to 4.6270/6320 from 4.7097/7160.

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15Jun

COMMODITY MARKET IN MALAYSIA| GOLD TRADING FORECAST TODAY

Comex Gold Signal

                        Gold Trading Forecast Today

15june2

15june3

INTERNATIONAL COMEX NEWS

  • Gold prices traded higher in midmorning trade on Thursday as traders as worries over U.S.-China trade relations sparked demand for the safe haven asset. At 10:54AM ET (14:54GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange inched up $8.50, or 0.7%, to $1,309.80 a troy ounce. U.S. President Donald Trump was expected to meet with his top trade advisers on Thursday to decide whether to activate threatened tariffs on billions of dollars in Chinese goods, a senior Trump administration official said.
  •  Oil prices were lower on Thursday amid worry over the potential of increased supply from OPEC. Crude oil futures decreased 0.18% to $66.52 a barrel as of 11:03 AM ET (15:03 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., slumped 0.81% to $76.12. The Organization of the Petroleum Exporting Countries and Russia countries is set to meet in Vienna on June 22 and is expected to decide whether or not to increase supply by one million barrels per day, as OPEC faces losses from Venezuela and Iran.
  • European Union countries on Thursday unanimously backed a plan to impose import duties on 2.8 billion euros ($3.3 billion) worth of U.S. products after Washington hit EU steel and aluminum with tariffs at the start of June, EU sources said. The measures still need to be adopted by the European Commission, whose next scheduled meeting is June 20. They should be in place by late June or early July.

ECONOMY NEWS

  • The European Central Bank will shut its hallmark bond purchase scheme by the close of the year, it said on Thursday, taking its biggest step yet toward dismantling crisis-era stimulus a decade after the start of the euro zone’s economic downturn. But in a balanced announcement reflecting the uncertainties hanging over the economy, it signaled that any interest rate hike is still distant, raising the prospect that ECB chief Mario Draghi might leave office in October 2019 without having raised rates in his eight-year term.
  • Greece’s parliament on Thursday passed a fast-track reform package to unlock bailout funds and wrap up a fourth and final review of its loan program as it seeks more debt relief from its official creditors next week. Greece is due to exit its latest bailout program in August and will then have to rely on financial markets to cover its borrowing needs.
  • The U.S. Supreme Court sided with the Trump administration and against China on Thursday on a disputed aspect of their fraught trade relationship, throwing out a lower court ruling that had allowed two Chinese vitamin C makers to escape $148 million in damages for violating American antitrust law. In a case that brought the trade conflict between the world’s two largest economies before the top U.S. court, the justices ruled 9-0 that the lower court gave too much deference to Chinese government filings in the case explaining China’s regulatory policy.

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