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.


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




                          Gold Comex Signal





  • 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).


  • 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.

Today’s Comex Signal and 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.



  • 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.



EUR/GBP – Epic Research Update

EUR/GBP Is a Pair Suited to Current Conditions with Serious Fundamentals Ahead


EUR/GBP has cut out a characterized run in the course of recent months that suits verifiable states of December save well

Enormous picture, late solidification remains as an inversion risk to a significantly bigger pattern

Basics are the missing element for this match, and Brexit is the most striking and underpriced chance ahead


When you consider money combines that are arranging exchange opportunity; sets like EUR/USD, Yen crosses for chance patterns and the Dollar with the FOMC rate choice one week from now are more prevalent focuses of core interest. However, these are not the most powerful open doors in the FX advertise. The interest for these fluid monetary forms and combines is both the recognition and seek after unpredictability – whether through topical or occasion based basics or basically through vague powers. Exchanging further into December mirrors an authentic standard that much of the time sees theoretical waves diligently decrease with occasions of real breakouts and patterns especially uncommon. Seeking after these improbable occasions sets us up measurably on the wrong side of likelihood.

Perfect open doors for ebb and flow conditions will connect the occasional desires for low unpredictability yet can likewise offer impressive plentifulness if the sudden occurs with a solid theoretical wave showing up. The EUR/GBP conversion standard is exceptionally situated to exploit the two states. On the specialized side, the previous three months for the match has cut out a wide yet settled range. In a more mind boggling picture, that time of clog could consider a reasonable shoulder on a generally uneven head-and-shoulders design. No H&S design is genuinely meriting the name without an unmistakable pattern in danger for inversion. EUR/GBP absolutely has such a constant run, to the point that it can turn around with appropriate inspiration. But then, if unmerited this combine could be left to its own particular gadgets to follow out an easy way out that just ranges easily in well build up limits. Essentials speak to a solid grapple for close term limitation. The Brexit vulnerabilities have acted to hold all Pound crosses under tight restraints – whether that limitation has a slope (drift) to it or not.

However, should Brexit discourses advance or lapse, the suggestions are profound for this combine specifically. The Pound’s side of this subject have been as often as possible investigated in exchanging circles, examination and national bank reports. The United Kingdom’s separation from the European Union dangers losing access to the nation’s biggest exchange accomplice if the single market isn’t open for exchange. That worry – and the moderate ebb of dread for that most pessimistic scenario result – has given the greater part of the advance that the Sterling has manufactured, both bullish and bearish. However, what is too much of the time neglected is the way that Brexit represents an existential risk to the Euro-territory and the common cash itself. While the UK isn’t a piece of the money related and managing an account union, its exit from the more extensive EU can fill in as the layout and inspiration for different nations to stick to this same pattern. Also, as it happens some of the Eurozone economies could see the biggest ‘master’ rundown to a length withdrawal.




Today’s Comex News



  • Gold prices turned lower on Wednesday, as upbeat U.S. economic growth data pushed the dollar broadly higher, dampening demand for the precious metal. Comex gold futures was down $7.65 or about 0.58% at $1,287.53 a troy ounce by 09:00 a.m. ET (13:00 GMT). In a second estimate, official data showed that U.S. gross domestic product expanded by3.3% in the third quarter, compared to an initial reading of 3.0%.
  • Oil prices pared losses on Wednesday, after data showed U.S. crude stockpiles dropped more than forecast last week. U.S. West Texas Intermediate (WTI) crude futures were at $57.87 a barrel, down 12 cents, or about 0.2%, by 10:35AM ET (1535GMT). Prices were at around $57.78 prior to the release of the inventory data. Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., dipped 10 cents, or around 0.2%, to $63.14 a barrel.
  • Natural gas futures extended their rally into a third session on Wednesday, as bullish speculators continued to place bets that a return to cold winter weather will boost demand for the heating fuel. U.S. natural gas futures surged 6.0 cents, or around 2%, to $3.189 per million British thermal units by 7:25AM ET (1225GMT). It climbed to its best level since Nov. 13 at $3.206 earlier.




          ECONOMY NEWS

  • The U.S. Justice Department will extend greater leniency to companies that voluntarily alert authorities when they learn employees have paid bribes to foreign officials. The new guidelines will allow most companies to avoid prosecution altogether if they fully disclose foreign bribery, cooperate in the investigation and take steps to avoid future misconduct, senior Justice Department officials told reporters on a conference call on Thursday.
  • The U.S. economy has gathered steam this year and will warrant continued interest rate increases amid a global recovery, Federal Reserve Chair Janet Yellen told congressional leaders on Wednesday. “The economic expansion is increasingly broad based across sectors as well as across much of the global economy,” Yellen said in prepared remarks delivered to the Joint Economic Committee.
  • The Federal Reserve is in early stages of considering “what it would mean” to offer digital currencies sometime in the future and whether it may be necessary as an alternative to cash, a top U.S. central banker said on Wednesday. William Dudley, president of the Federal Reserve Bank of New York, has been publicly asked about the virtual currency bitcoin twice in three days this week and has stressed that prospective investors should be cautious because its value is highly unstable and it is not legal tender.



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)

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


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

Japanese Yen Slips

Japanese Yen Slips – Epic Research Updates


* 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.

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