KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was down 0.23% at 1.2525, up from a session low of 1.2504 and off a high of 1.2575.The pair was likely to find support at 1.2441, Tuesday’s low, and resistance at 1.2600, Wednesday’s high.Manufacturing activity in the Philadelphia-region expanded at its fastest rate since December 1993 in November, fueling optimism over the U.S. economic outlook, official data showed on Thursday.The Federal Reserve Bank of Philadelphia reported earlier that its manufacturing index improved to 40.8 this month from 20.7 in October.A soaring Philadelphia-area factory gauge sparked demand for the greenback over the euro on Thursday by stoking expectations for the U.S. economy to grow at a faster clip.


INTRADAY OUTLOOK
Support: 1.2527
Resistance: 1.2585

RECOMMENDATION:
1. Buy EUR/USD Above 1.2587-TG:1.2607/1.2637 SL 1.2557
2. Sell EUR/USD Below 1.2525-TG:1.2505/1.2475 SL 1.2555

INTRADAY OUTLOOK
Immediate Support: 117.29
Immediate Resistance: 117.89

RECOMMENDATION:
1. Buy USD/JPY Above 117.91-TG:118.11/118.41 SL 117.61
2. Sell USD/JPY Below 117.27-TG:117.07/116.77 SL 117.57

KLSE Comex Recommendations

INTERNATIONAL COMMODITY NEWS :

 Gold prices held steady to weaker in Asia on Friday with markets in Tokyo trading light ahead of a three-day weekend, though investors are still looking for physical demand support ahead of the year-end holidays. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,193.00 a troy ounce, down 0.04%, after hitting an overnight session low of $1,176.30 and off a high of $1,196.60. Japan has a publi holiday on Monday. Overnight, Gold prices edged lower in U.S. trading on Thursday after a batch of upbeat U.S. indicators sent investors flocking to the dollar, which trades inversely with the yellow metal.


TRADING STRATEGY :

SELL GOLD BELOW 1191 TARGET 1185 ,1175 SL 1197

KLSE Stock Recommendations

MARKET UPDATES :

Malaysia Airlines (MAS) is offering exciting air fares starting from Rs11,860 (RM664) for travellers from India through its Year-End Specials campaign starting today till Dec 2, 2014 for the travel period between Jan 5, 2015 and March 31, 2015. The all-inclusive economy class return fare from India to Malaysia and Indonesia starts at just Rs11,860 and Rs15,890 respectively, the airline announced Thursday. The national carrier also has value deals to China and Australia starting from Rs20,830 and Rs39,660 respectively for an all-inclusive return economy class travel from India.



STOCK RECOMMENDATION :

BUY ASTRO MALAYSIA ABOVE 3.410 TARGET 3.450 3.510 SL 3.350

S&P Market News Update

The U.S. stock market finished Thursday’s mostly subdued trading session slightly higher. The incremental gains on the S&P 500 and the Dow Jones Industrial Average, which came amidst thin trading volumes, were enough to send the indexes deeper into record territory.

The S&P 500 SPX, +0.20%   closed 4 points, or 0.2%, higher at 2,052.75, the 44th record close this year. The Dow Jones Industrial Average DJIA, +0.19%  added 33.27 points, or 0.2%, to 17,719.00, logging its 27th record close in 2014.

Dollar falls from seven-year high against yen

The dollar surrendered the gains against the yen during the Asian session Thursday, after gaining more than 170 basis points in less than 32 hours and surpassing multiple seven-year highs.

The greenback USDJPY, -0.22%  traded at ¥118.02, after rising as high as ¥118.97, as it continued to revisit the highs from the summer of 2007, when investors scrambled to the perceived safety of the yen as U.S. credit markets seized up.

 The pound GBPUSD, -0.09%   fell to a 14-month low against the dollar after the U.K. retail sales price deflator fell by 1.5% from a year ago in October, pressured by the falling price of oil, an indication that inflation remains weak.

The U.S. Dollar Index DXY, -0.10%  , a measure of the greenback’s strength against a basket of six currencies, was flat at 87.6200.