KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5552 during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5531.In a report, the Office for National Statistics said the U.K. gross domestic product expanded by 0.5% in the final three months of 2014, unchanged from an initial estimate and in line with expectations. The U.K.’s economy grew by 0.7% in the previous quarter.Year-over-year, U.K. economic growth grew 2.7% in the three months to December, unchanged from a preliminary reading. The U.K. economy expanded at an annualized rate of 2.6% in the third quarter of 2014.The report also showed that total U.K. business investment fell 1.4% in the last quarter, disappointing forecasts for a 1.9% gain and following a 1.2% decline in the third quarter of 2014.




INTRADAY OUTLOOK
Support: 1.5492
Resistance: 1.5573

RECOMMENDATION:
1. Buy GBP/USD Above 1.5575-TG: 1.5595/1.5625 SL 1.5545
2. Sell GBP/USD Below 1.5490-TG: 1.5470/1.5440 SL 1.5520

INTRADAY OUTLOOK
Support: 1.1317

Resistance: 1.1396
RECOMMENDATION:
1. Buy EUR/USD Above 1.1398-TG: 1.1418/1.1448 SL 1.1368
2. Sell EUR/USD Below 1.1315-TG: 1.1295/1.1265 SL 1.1345 

Dollar index rises to highest level since 2003

The ICE U.S. Dollar Index rose to its highest level since 2003 Thursday, as currency traders bet that a stronger-than-expected core consumer-price index number will prompt the Federal Reserve to raise interest rates sooner than expected.

The index DXY, -0.13% a measure of the greenback’s strength against a basket of six rival currencies, rose 1.15% to 95.1500, according to FactSet data.

The euro EURUSD, +0.13%  traded at $1.1998, its lowest level since Jan. 26, compared with $1.1361 Wednesday.

The euro EURUSD, +0.13%  traded at $1.1998, its lowest level since Jan. 26, compared with $1.1361 Wednesday.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD up 0.28% to 1.5496.during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5509, gaining 0.36%.In a report, the British Bankers’ Association said that mortgage approvals rose by 36,400 in January, beating expectations for an increase of 36,200. December’s figure was revised to a 35,800 gain from a previously estimated rise of 35,700.Meanwhile, the greenback remained under pressure after Fed Chair Yellen said it was “unlikely” that economic conditions would warrant an interest rate increase for “at least the next couple of FOMC meetings”.





INTRADAY OUTLOOK
Support: 1.5450
Resistance: 1.5537

RECOMMENDATION:
1. Buy GBP/USD Above 1.5539-TG: 1.5559/1.5589 SL 1.5509
2. Sell GBP/USD Below 1.5448-TG: 1.5428/1.5398 SL 1.5478

INTRADAY OUTLOOK
Support: 1.1316
Resistance: 1.1393

RECOMMENDATION:
1. Buy EUR/USD Above 1.1395-TG: 1.1415/1.1445 SL 1.1365
2. Sell EUR/USD Below 1.1314-TG: 1.1294/1.1264 SL 1.1284

Dollar dips on delayed rate-hike expectations

The U.S. dollar inched lower against its main trading partners Wednesday, extending losses from Tuesday’s session, after Federal Reserve Chairwoman Janet Yellen suggested the central bank isn’t ready to raise interest rates just yet.

The dollar traded lower against the euro EURUSD, -0.08%  and flat against the yen USDJPY, -0.09% with the euro worth $1.1360 and the buck trading at ¥118.85, compared with $1.1349 and ¥118.75 Tuesday.

The ICE U.S. Dollar Index DXY, +0.00% a measure of the dollar’s strength against a trade-weighted basket of six rival currencies, was 0.3% lower at 94.2260.

The pound GBPUSD, -0.06%  and the Australian dollar AUDUSD, -0.04%  were especially well-bid versus the buck, with sterling trading at $1.5525, its highest level since late December. It traded at $1.5476 late Tuesday.

The aussie AUDUSD, +0.01%  traded at 78.86 cents, just below its highest level since Jan. 28, up from 78.59 Tuesday.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5474 during European morning trade, the session high; the pair subsequently consolidated at 1.5446. Investors remained cautious as Fed Chair Janet Yellen was to testify before the Senate Banking Committee in Washington later Tuesday, with market participants watching for any indication on when U.S. interest rates may start to rise.Last week’s minutes of the Fed’s January meeting were more dovish than expected, showing that some officials thought that raising rates too soon could weigh on the U.S. economic recovery, and that a deterioration in the global economic outlook could also pose a threat.The pound shrugged off a report by the Confederation of British Industry on Monday showing that its index of U.K. retailers plunged by 38.0 points to a 21-month low of 1.0 in February from 39.0 in January.




INTRADAY OUTLOOK
Support: 1.5401
Resistance: 1.5479

RECOMMENDATION:
1. Buy GBP/USD Above 1.5481-TG: 1.5501/1.5531 SL 1.5451
2. Sell GBP/USD Below 1.5399-TG: 1.5379/1.5349 SL 1.15429

INTRADAY OUTLOOK
Support: 1.1278
Resistance: 1.1350

RECOMMENDATION:
1. Buy EUR/USD Above 1.1352-TG: 1.1372/1.1402 SL 1.1322
2. Sell EUR/USD Below 1.1276-TG: 1.1256/1.1226 SL 1.1306

Dollar inches lower on Janet Yellen’s testimony

 The dollar inched lower against the yen and euro after Federal Reserve Chairwoman Janet Yellen suggested the central bank’s first rate hike since 2006 may not occur until the second half of the year.

The dollar USDJPY, -0.24%  was at ¥118.89 Tuesday afternoon, compared with ¥118.83 late Monday in New York. The euro EURUSD, +0.05%  traded at $1.1342, compared with $1.1336.

The ICE U.S. Dollar Index DXY, -0.10% a measure of the dollar’s strength against a trade-weighted basket of six other currencies, declined 0.14% to 94.4410.

KLSE IForex Recommendations

TRADING TIPS :

USD/JPYtraded at 119.06, up 0.03% against the dollar.The Bank of Japan is to publish the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was quoted at 94.40.Last week, the euro pushed higher against the dollar and the yen on Friday after euro zone finance ministers agreed on a deal to extend Greece’s bailout by four months. The euro zone approved the extension of Greece’s €240 billion bailout, removing concerns that the country would face a liquidity crunch when its current bailout agreement expired at the end of the month.




INTRADAY OUTLOOK
Support: 118.77
Resistance: 119.41

RECOMMENDATION:
1. Buy USD/JPY Above 119.43-TG: 119.63/119.93 SL 119.13
2. Sell USD/JPY Below 118.75-TG: 118.55/118.25 SL 119.05

INTRADAY OUTLOOK
Immediate Support: 1.1292
Immediate Resistance: 1.1372

RECOMMENDATION:
1. Buy EUR/USD Above -1.1374 TG: 1.1394/1.1424 SL 1.1344
2. Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320

Euro weakens as Greece delays reform proposals

The euro fell against the dollar Monday, as the initial enthusiasm for Greece’s bailout extension gave way to anxiety that debt problems may have been delayed rather than resolved.

The shared currency EURUSD, +0.04%  recovered somewhat from the day’s low to trade at $1.1334, up from a session low of $1.1295, but down from around $1.1378 late Friday in New York.

The dollar USDJPY, +0.20%  bought 118.84 yen, down a touch from ¥119.07 late Friday in New York.

The pound GBPUSD, -0.07%  gained against the dollar, rising to $1.5460 from $1.5399 late Friday ahead of Bank of England Governor Mark Carney’s remarks at a Treasury select committee hearing Tuesday.

The ICE U.S. Dollar Index DXY, +0.05%  gained 0.32% to 94.5610.

Dollar wary ahead of testimony from Fed’s Yellen

The dollar was almost flat against the yen and the euro in Asian trade Monday, with investors avoiding taking strong positions ahead of Federal Reserve Chairwoman Janet Yellen’s testimony before Congress later this week.

The dollar USDJPY, +0.19%  was at ¥118.99 from ¥119.07 late Friday in New York.

The euro EURUSD, -0.65%  was at $1.1370 from $1.1378 and was at ¥135.31 from ¥135.50.

The WSJ Dollar Index BUXX, +0.54% a measure of the dollar against a basket of major currencies, was up 0.03% at 85.50.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5353 during European morning trade, the pair’s lowest since February 18; the pair subsequently consolidated at 1.5384, shedding 0.19%.In a report, the Office for National Statistics said U.K. retail sales rose fell 0.3% in January, compared to expectations for a 0.2% downtick. December’s figure was revised to a 0.2% gain from a previously estimated increase of 0.4%.Year-on-year, U.K. retail sales rose at a rate of 4.8% last month, below expectations for a 5.9% increase and after a downwardly revised 3.8% gain in December.A separate report showed that U.K. public sector net borrowing dropped by £9.40 billion January, more than the expected decline of £7.80 billion. December’s figure was revised to a £9.87 rise from a previously estimated £12.47 increase.

INTRADAY OUTLOOK

Support: 1.5315

Resistance: 1.5389

RECOMMENDATION:

1. Buy GBP/USD Above 1.5392-TG: 1.5412/1.5442 SL 1.5362

2. Sell GBP/USD Below 1.5313-TG: 1.5293/1.5263 SL 1.5343

INTRADAY OUTLOOK

Immediate Support: 1.1268

Immediate Resistance: 1.1359

RECOMMENDATION:

1. Buy EUR/USD Above -1.1361 TG: 1.1381/1.1411 SL 1.1331

2. Sell EUR/USD Below -1.1266 TG:1.1246/1.1216 SL 1.1296

Euro rises after Greek debt accord

The euro closed higher against the dollar Friday, but finished lower on the week, after the Eurogroup announced it had agreed to a four-month extension of Greece’s bailout.

The shared currency EURUSD, +0.11% traded at $1.1377, down from its session high of $1.1430. It had traded at $1.1369 Thursday. Greece’s bailout agreement is set to expire on Feb. 28. The shared currency recorded a 0.1% weekly loss against the U.S. dollar.

The ICE U.S. Dollar Index DXY, -0.09% a measure of the dollar’s strength against a trade-weighted basket of six currencies, finished lower for the fourth week in a row. The index was down 0.05% to 94.3490.

The dollar USDJPY, +0.04%   finished the session at 119 yen, unchanged from Thursday’s close, because of the market’s focus on Greece Friday, rather than the U.S. economy.

The pound GBPUSD, -0.11%  traded at $1.5399, compared with $1.5417 Thursday.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5466 during European morning trade, the session high; the pair subsequently consolidated at 1.5448.Sentiment on the dollar remained vulnerable after the minutes of the Fed’s January meeting showed that policymakers expressed concern that raising interest rates too soon could dampen the U.S. economic recovery. The pound had strengthened on Wednesday after data showed that the U.K. unemployment rate fell to a six-year low 5.7% in the three months to December from 5.8% in the preceding three month-period and better than expectations for a reading of 5.8%.The report also showed that the claimant count fell by 38,600 last month, compared to expectations for a decline of 25,000.Meanwhile, investors continued to focus on developments in Greece, as Athens was expected to submit a request for an extension of its existing loan agreement with the euro zone, which differentiates from its bailout, later Thursday.

INTRADAY OUTLOOK

Support: 1.5401

Resistance: 1.5478

RECOMMENDATION:

1. Buy GBP/USD Above 1.5480-TG: 1.5500/1.5530 SL 1.5450

2. Sell GBP/USD Below 1.5399-TG: 1.5379/1.5349 SL 1.5429

INTRADAY OUTLOOK

Immediate Support: 1.1342

Immediate Resistance: 1.1448

RECOMMENDATION:

1. Buy EUR/USD Above -1.1450 TG: 1.1470/1.1500 SL 1.1420

2. Sell EUR/USD Below -1.1340 TG:1.1320/1.1290 SL 1.1370 

Dollar bides its time as meeting on Greek bailout looms

The dollar was almost unchanged against the yen and the euro in quiet Asia trade Friday, with market participants taking a wait-and-see stance ahead of crucial events such as the eurozone finance ministers’ meeting on the Greek bailout.

The dollar USDJPY, -0.05%  recently traded at ¥118.91 from ¥118.97 late Thursday in New York.

The euro EURUSD, -0.04%  was at $1.1364 from $1.1361 and was at ¥135.12 from ¥135.15.

The WSJ Dollar Index BUXX, -0.03%  , a measure of the dollar against a basket of major currencies, was down 0.03% at 85.43.

KLSE IForex Recommendations

TRADING TIPS :
GBP/USD hit 1.5337 during European morning trade, the session low; the pair subsequently consolidated at 1.5349, slipping 0.10%.In a report, the U.K. Office for National Statistics said the rate of consumer price inflation decelerated to 0.3% last month from 0.5% in December, broadly in line with market expectations. Month-over-month, consumer price inflation declined 0.9% in January, compared to expectations for a drop of 0.8% and after holding flat in December.Bank of England Governor Mark Carney will now have to write an open letter to the Chancellor of the Exchequer, George Osborn, as inflation is more than a percentage point below the central bank’s target of 2.0%.

INTRADAY OUTLOOK
Support: 1.5337
Resistance: 1.5400

RECOMMENDATION:
1. Buy GBP/USD Above 1.5402-TG: 1.5422/1.5452 SL 1.5372
2. Sell GBP/USD Below 1.5335-TG: 1.5315/1.5285 SL 1.5365

INTRADAY OUTLOOK
Immediate Support: 1.1392
Immediate Resistance: 1.1467

RECOMMENDATION:
1. Buy EUR/USD Above -1.1469 TG: 1.1489/1.1519 SL 1.1439
2. Sell EUR/USD Below -1.1390 TG:1.1370/1.1340 SL 1.1420 

Euro trades higher against rivals on upbeat economic reports

The euro traded higher against the pound, yen and dollar Tuesday as economic data showed continued improvement in the eurozone.

The euro EURUSD, -0.07%   traded at $1.1415, compared with $.1.1335 Friday. The shared currency traded at 137.74 yen EURJPY, -0.26%  , compared with ¥134.06 Friday. It traded at 74.34 pence EURGBP, -0.09%  , compared with 73.83 pence.

The ICE U.S. Dollar Index DXY, -0.02%  , a measure of the dollar’s strength against a trade-weighted basket of six currencies, fell 0.12% to 94.0880, after finishing lower for the third-consecutive week Friday.

After trading lower for most of the Asia trading day, the dollar turned higher against the yen, USDJPY, -0.18%  trading at ¥119.29, compared with ¥118.29.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5440 during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5413, adding 0.12%.The dollar remained under pressure after data on Friday showed that the preliminary reading of the University of Michigan’s consumer sentiment index fell to 93.6, down from January’s final reading of 98.1.The report came a day after data showing that U.S. retail sales unexpectedly fell 0.8% lastmonth after dropping 0.9% in December, indicating that consumer spending remained sluggish at the start of the year.The pound had strengthened last week after the Bank of England said inflation is likely to fall to zero in the first half of this year, but added that there was no threat of deflation taking hold in the U.K.

INTRADAY OUTLOOK

Support: 1.5327

Resistance: 1.5408

RECOMMENDATION:

1. Buy GBP/USD Above 1.5410-TG: 1.5430/1.5460 SL 1.5380

2. Sell GBP/USD Below 1.5325-TG: 1.5305/1.5275 SL 1.5355

INTRADAY OUTLOOK

Immediate Support: 1.1368

Immediate Resistance: 1.1459

RECOMMENDATION:

1. Buy EUR/USD Above -1.1461 TG: 1.1481/1.1511 SL 1.1431

2. Sell EUR/USD Below -1.1366 TG:1.1346/1.1316 SL 1.1399

Euro rises vs. dollar as European leaders tackle Greek debt

The euro rose against the U.S. dollar Monday as European officials held crucial talks aimed at resolving Greece’s standoff with its international creditors.

The shared currency EURUSD, +0.06%  was trading at $1.1413, more than the $1.1391 it was buying late Friday in North American trade.

 The dollar USDJPY, +0.05%  was down to ¥118.44, compared with ¥118.78 late Friday in New York.

The WSJ Dollar Index BUXX, -0.06% a measure of the dollar against a basket of major currencies, was down 0.2% at 85.24.

Dollar lower against yen after muted reaction to Japan GDP

The dollar was lower against the yen in thin and directionless Asian trade Monday, with investors having a relatively muted reaction to weaker-than-expected Japanese gross domestic product data.

The dollar USDJPY, -0.17%  was down to ¥118.46 compared with ¥118.78 late Friday in New York.

The common currency EURUSD, +0.12%  was at $1.1419 from $1.1398 and was at EY, +42.86%   ¥135.26 from Y¥135.39.

The WSJ Dollar Index BUXX, -0.15% a measure of the dollar against a basket of major currencies, was down 0.2% at 85.37.

KLSE IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5419 during European morning trade, the pair’s highest since January 2; the pair subsequently consolidated at 1.5388.The pound had strengthened on Thursday after the BoE said inflation is likely to fall to zero in the first half of this year, but added that there was no threat of deflation taking hold in the U.K.In its quarterly inflation report, the BoE said “it is now more likely than not that CPI inflation will dip briefly below zero at some point in the first half of 2015,” and remain “close to zero” for most of the year.However, BoE Governor Mark Carney said there was not threat of persistent deflation as the decline in inflation was due to falling petrol, food and energy prices.In addition, the bank said it would now consider cutting interest rates below 0.5% if inflation dips more deeply into negative territory than expected.




INTRADAY OUTLOOK
Support: 1.5318
Resistance: 1.5420

RECOMMENDATION:
1. Buy GBP/USD Above 1.5422-TG: 1.5442/1.5472 SL 1.5392
2. Sell GBP/USD Below 1.5316-TG: 1.5296/1.5266 SL 1.5346

INTRADAY OUTLOOK
Immediate Support: 1.1361
Immediate Resistance: 1.1459

RECOMMENDATION:
1. Buy EUR/USD Above -1.1461 TG: 1.1481/1.1511 SL 1.1431
2. Sell EUR/USD Below -1.1359 TG:1.1339/1.1309 SL 1.1389

Dollar sinks for third week in a row

 The ICE U.S. Dollar Index finished lower for the third week in a row Friday as a mixture of weak U.S. data and signs of growth in the eurozone threatened the buck’s seven-month rally.

The dollar index DXY, +0.00% which measures the dollar’s strength against a trade-weighted basket of six rival currencies, was up 0.1% Friday to 94.1910, but finished the week 0.5% lower. The euro comprises nearly 60% of the index’s value.

The euro EURUSD, -0.11%  was at $1.1387, compared with $1.1407 Thursday. It was at 135.28 yen in recent trade, compared with ¥135.66. Against Britain’s currency, the euro EURGBP, -0.20%  was buying 73.93 pence versus 74.13 pence on Thursday.

The pound GBPUSD, +0.08%  recorded a weekly gain against the dollar for the first time in five weeks, fueled by the BOE’s suggestion on Thursday that it could raise interest rates in 2016. It traded at $1.5397 Friday, compared with $1.5388 Thursday